Aster Silicates IPO : Files DRHP with SEBI

by khalid on 08/01/2010 · 0 comments

Aster Silicates limited is a company involved in the manufacturing of food grade Sodium Silicate for last 12 years. The company has filed Draft Red Hearing Prospects (DRHP) with the market regulator SEBI to float an IPO for raising money from primary market. The company is going to raise Rs 53.10 crores through this IPO.

The proceeds of this proposed IPO will be used for expansion of manufacturing facilities (Rs 44.32.19 crores), additional working capital requirements (Rs 7.5 crores) and public issue expenses (Rs 5 crores). The above amount included internal accruals of Rs 3.72 crore.

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