Somi Conveyor beltings Ltd to enter the capital markets with its initial public offering (IPO) of 62,27,860 equity shares of Rs10 each through 100% book building process. The price for the issue has been fixed at Rs35 per share. The issue will open on June 24, 2008 and will close on June 27, 2008.
Ashika Capital is the lead manager and Mondkar Computers is the registrar to the issue.
The issue consists of contribution by promoters of 14,99,286 equity shares of Rs10 each at a price of Rs35 per equity share for cash aggregating to Rs5.25 crores. The net issue to the public consists of 47,28,574 equity shares of Rs10 each at a price of Rs35 per equity share for cash aggregating to Rs16.55 crores. This also includes an allocation of atleast 10% of the net issue to the qualified institutional investors.
Somi Conveyor beltings Ltd is a manufacturer and exporter of Rubber Conveyor Belts of all grades for material handling. Conveyor belts are used in a wide variety of material transport applications such as manufacturing, food processing, and heavy industries. Belt construction and belt materials are often application-specific.
Ashika Capital is the lead manager and Mondkar Computers is the registrar to the issue.
The issue consists of contribution by promoters of 14,99,286 equity shares of Rs10 each at a price of Rs35 per equity share for cash aggregating to Rs5.25 crores. The net issue to the public consists of 47,28,574 equity shares of Rs10 each at a price of Rs35 per equity share for cash aggregating to Rs16.55 crores. This also includes an allocation of atleast 10% of the net issue to the qualified institutional investors.
Somi Conveyor beltings Ltd is a manufacturer and exporter of Rubber Conveyor Belts of all grades for material handling. Conveyor belts are used in a wide variety of material transport applications such as manufacturing, food processing, and heavy industries. Belt construction and belt materials are often application-specific.
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