Sanco Industries IPO : Files DRHP with SEBI

by khalid on 31/01/2011 · 0 comments

PVC Manufacturer Sanco Industries Limited has informed the share market (BSE/NSE) that they have planning to enter capital markets with its maiden public issue of 7,500,000 equity shares of Rs 10 each constituting 55.55% of the post issue paid-up equity capital of the company. The company has filed a Draft Red Herring Prospectus (DRHP) on 27th January 2011 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The IPO launching date is depend on the market conditions as per company sources. Sanco Industries is a specialty chemical company. Sanco manufactures PVC (Polyvinyl chloride) products like Conduit Pipes, PVC Insulated Wires & Cable, PVC castings and capings.

The proceeds of the IPO amount would be used by the company for expansion of existing manufacturing capacity and for working capital requirements. Rs.21.4 Cr for establish a manufacturing unit of copper wire rods, and Rs.3.1 Cr towards expansion of existing manufacturing facility based in Himachal Pradesh.

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 Sole Book running lead manager to the issue is Mefcom Capital Market.

Registrar of the Issue : Beetal Financial and Computer Services.

Stay tuned to BelltheBull Blog for more news on Sanco Industries IPO !

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