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Mumbai, June 19 Somi Conveyor Beltings Ltd, a manufacturer of rubber conveyor belts of various sizes used for industrial applications of material handling in various industries, proposes to enter the capital markets on June 24 with an issue of 62.27 lakh equity shares of Rs 10 each at a fixed price of Rs 35 aggregating to Rs 21.79 crore.

The net issue to the public of 47.28 lakh equity shares aggregating to Rs 16.55 crore, including an allocation of at least 10 per cent of the net public issue to QIBs. The net issue to the public would constitute 40 per cent of the fully-diluted post issue paid up capital of the company. The issue closes on June 27.

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