Rajasthan based Madhya Bharat Agro Products Limited (MBAPL) has informed the share market (BSE/NSE) that they have planning to enter capital markets with its initial public offering (IPO) of 8,100,000 equity shares of Rs 10 each. The company had filed a Draft Red Herring Prospectus (DRHP) on 25th May 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. Madhya Bharat Agro Products Limited is one of the flagship companies of Ostwal Group of Industries. The company was taken over by Ostwal Group and the loss making venture is converted into a profitable one.
The IPO proceeds will be used to set up Beneficiated Rock Phosphate (BRP) plant, to set up Single Super Phosphate (SSP) plant, Granulated Single Super Phosphate (GSSP) plant, sulphuric acid plant and for working capital requirement and other corporate purposes.
Promoters of the company : Seasons Agro Chem India Private Limited, Mr. Pankaj Ostwal, MR. Praveen Ostwal And Mrs. Ekta Jain
The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Solo Book running lead manager to the issue is Corporate Strategic Allianz Limited, Ahmedabad.
Registrar to the issue : Bigshare Services Private Limited, Mumbai.
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