Rushil Decor Limited is entering into primary market with an Initial Public Offering (IPO) of 5,643,750 Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is likely to raise around Rs 40.64 Crore through the issue. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 63 – Rs. 72 Per Equity Share. Rushil Decor Limited is a leading Indian manufacturer of decorative high pressure laminates and plain particle boards.
Promoters of the company are Ghanshyambhai Ambalal Thakkar and Krupesh Ghanshyambhai Thakkar.
The proceeds of the IPO are proposed to be utilized for setting up of medium density fibre board plant at Chikmagalur, Karnataka, margin for working capital requirement, public issue expenses and general corporate purpose.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : 20th May 2011 – 23rd Jun 2011
IPO Type : 100% Book Built Issue IPO
IPO Size : 5,643,750 Equity Shares of Rs 10 each
IPO Size : Rs 35.56 – 40.64 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs 63 – Rs 72 Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead manager (BRLM) to the issue are Corporate Strategic Allianz Limited and Report Indbank Merchant Banking Services Limited.
Registrar of the Issue : Bigshare Services Private Limited , Mumbai.
Stay tuned to BelltheBull Blog for more on Rushil Decor IPO !Google+