• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Paul Noronha

Mr Ratanlal Tamakuwala (right), Chairman, Austral Coke & Projects Ltd, with Mr Rishiraj Agarwal, Managing Director, at a press conference to announce the company’s IPO in Mumbai on Friday. —

Our Bureau

Mumbai, July 31 Austral Coke and Projects Ltd, a company engaged in the manufacture of low ash metallurgical (LAM) Coke, on Thursday announced its foray into the capital market with an IPO of 72.6-lakh equity shares of Rs10 each.

The issue will open on August 7 and will close on August 13.

The price band has been fixed between Rs 164 and Rs 196 a share. The issue will have an additional “Green Shoe Option” of 10,89,000 equity shares.

The issue will constitute 27.72 per cent of the fully-diluted post issue capital of the company.

The shares of the company will be listed on both the BSE and NSE.

The object of the issue is to part finance its expansion plans which involves setting up of a 1.5-lakh tpa of LAM Coke and setting up 8 MW Captive Power Plant through waste heat recovery.

The project is coming up in Sindhudurga in Maharashtra. The company may use the remaining funds raised to acquire coal mines either in India or abroad and may retire high-cost debt.

The book running lead manager to the issue is Allbank Finance. Saffron Capital Advisors, Prabhudas Lilladher Capital Markets and Elara Capital (India) are the co-BRLMs to the issue.

More Stories on : IPOs | Coke & Metalurgical Coke

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Corporate developments

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line