Business Daily from THE HINDU group of publications
Wednesday, Oct 17, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 17, 2007 ePaper |
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Corporate
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Announcements Markets - IPOs
IPO plans: Mr Mallikarjuna Reddy (left), Managing Director, SVPCL Ltd, with Mr Y.V. Seshthalpa Sai, CEO, at a press conference to announce the company’s IPO in Mumbai on Tuesday. Our Bureau Mumbai, Oct 16 SVPCL Ltd, a leading paper products manufacturer in South India, today proposed to enter markets with a public issue of Rs 34.50 crore through a 100 per cent book-building process. The issue opens on October 22 and closes on October 26. The price band is fixed at Rs 40-45 per equity share of Rs 10 each. The company plans to use the net proceeds from the issue to expand its existing manufacturing facilities in Hyderabad, Vijayawada and Visakhapatnam, to set up marketing infrastructure in 10 identified locations in the country, to enhance its long-term working capital requirements and to meet expenses of the issue. Other than the IPO, the company will raise its finance required by internal accruals. Out of the Rs 34.50-crore public issue, 50 per cent is allotted to Qualified Institutional Buyers, 15 per cent to non-institutional investors and the remaining 35 per cent to retail. BOB Capital Markets Ltd is the BRLM (Book Running Lead Manager) for the issue and UTI Securities Ltd is the co-BRLM. More Stories on : Announcements | IPOs | Paper | rd & Newsprint
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