Shekhawati Poly-yarn Limited IPO : Files DRHP With SEBI

by khalid on 01/08/2010 · 4 comments

Shekhawati Poly-yarn Limited was originally incorporated on November 15 1990. The company is a leading manufacturer of Polyester Texturised Yarn & Twisted Yarn. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to float its Initial Public Offer (IPO), of the Equity Shares. The company plans to raise money from primary market with an IPO of 1,20,00,000 equity shares of face value Rs 10 each, with a premium at Rs 20 per equity share i.e. Rs 30 per equity share. The issue size will be Rs 36 crore .

The Promoters of the Company are Mr. Mukesh Ruia and Mr. Ramniranjan Ruia

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 objects of the fresh issue :- The money raised from this IPO will be utilize by the company to acquire additional new 30 Twisting Machines and installation of new 30 Knitting Machines, to acquire Corporate office at an estimated cost of Rs. 325.00 lacs, to meet working capital requirements, to meet the Issue expenses and to get the Equity Shares of our Company listed on BSE.

Book Running Lead Managers (BRLMs) to the offer is Hem Securities Limited MUMBAI. Sharex Dynamic (India) Pvt. Ltd. is the Registrar.

Stay tuned to BelltheBull Blog for more on Shekhawati Poly-yarn Limited IPO!

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{ 4 comments… read them below or add one }

Anshul Dixit August 1, 2010

Is it a good stock to go for ? Does it have strong fundamentals ? It will really help if you could provide some details on this.

Reply

khalid August 1, 2010

Thanks for your comment Anshul 🙂 , I will try to follow what you suggested.

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pradeep agrahari January 14, 2011

i am purchasing shekhawati poly yarn 200 share 37.75

Reply

khalid January 14, 2011

Hi Pradeep,

Company’s volatile operations are not favorable and most of the analysts were not suggested to subscribe for this IPO. But speculators made a good gain on the listing day. So it is not advisable to go for it.

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