MUMBAI: The initial public offering of Austral Coke & Projects Ltd opens Thursday for subscription. The issue is for 72,60,000 equity shares (excluding green shoe option of 10,89,000 shares). The IPO closes on Aug 13.
The company has priced the Rs 10 face value share in the band of Rs 164 to Rs 196. The issue is lead managed by Allbank Finance
Austral Coke mainly manufactures low ash metallurgical coke. It is also in the business of equipment rental, refractory and textile trading.
The company plans to use the IPO proceeds to finance its expansion. It is planning a 150,000 tonne per annum LAM coke unit and an 8 mw captive power plant through waste heat recovery. The project is coming up at Sindhudurg in Maharashtra.
The company also plans to utilize the funds for acquiring coal mines either in Indian or abroad and retire high cost debt.
Austral Coke has concluded pre-IPO placement of 27,40,000 shares to Somerset India Fund at Rs 196 per share, aggregating to Rs 53.70 crore.
CARE has assigned IPO Grade 2 to the issue, which is being lead managed by Allbank Finance.
The company has priced the Rs 10 face value share in the band of Rs 164 to Rs 196. The issue is lead managed by Allbank Finance
Austral Coke mainly manufactures low ash metallurgical coke. It is also in the business of equipment rental, refractory and textile trading.
The company plans to use the IPO proceeds to finance its expansion. It is planning a 150,000 tonne per annum LAM coke unit and an 8 mw captive power plant through waste heat recovery. The project is coming up at Sindhudurg in Maharashtra.
The company also plans to utilize the funds for acquiring coal mines either in Indian or abroad and retire high cost debt.
Austral Coke has concluded pre-IPO placement of 27,40,000 shares to Somerset India Fund at Rs 196 per share, aggregating to Rs 53.70 crore.
CARE has assigned IPO Grade 2 to the issue, which is being lead managed by Allbank Finance.
No comments:
Post a Comment