Mukesh Udyog IPO : Files DRHP with SEBI

by khalid on 30/03/2011 · 0 comments

Ludhiana based Mukesh Udyog Limited has informed the share market(BSE/NSE) that they have planning to enter capital markets with its public issue of 7500000 equity shares of Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for the same. The premium to be decided via 100% book building process. The IPO price band has not been decided yet. The company would raise Rs 425 crore through this IPO. Mukesh Udyog Limited is manufacturing acrylic, polyester, polyester cotton and cotton, combed and carded yarns. It has current installed capacity of 30,000 spindles for acrylic, cotton blended and polyester yarns.

The proceeds of the IPO amount would be used by the company for expansion of spinning unit from its current capacity of 30,000 spindles to 43,200 spindles (with the estimated cost of Rs 32.88 crore); setting up of hot rolling mill facility with an annual capacity of 49,000 TPA (with estimated cost of Rs 20.95 crore) and working capital requirements.

The shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Sole Book Running Lead Manager (BRLM) to the issue is Corporate Strategic Allianz Limited.

Registrar of the Issue : Bigshare Services Private Linited, Mumbai.

Stay tuned to BelltheBull Blog for more on Mukesh Udyog IPO !

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