Tamil Nadu based Servalakshmi Paper is engaged in the business of manufacturing printing and writing paper and newsprint. The company is planning to enter capital market with its maiden public issue aggregating upto Rs 60 crore for equity shares of face value Rs 10 each. The company has filed a Draft Red Herring Prospectus (DRHP) on 14th Sep 2010 with market regulator Securities and Exchange Board of India (SEBI). The premium to be decided via 100% book building process. The company proposes to issue 6 crore shares through its maiden public float.
The IPO proceeds would part finance the purchase of equipments for producing value added products which would be around Rs 25 crore, augmenting long term working capital requirement around Rs 30 crore, preliminary & pre operative expenses around Rs 5 crore, to meet the issue expenses and list the equity shares of the company on the stock exchanges.
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 managers to the issue is Keynote Corporate Services and Indian Overseas Bank.
Registrar of the Issue : Link Intime (India).
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