MUMBAI: Resurgere Mines & Minerals India Ltd’s public issue of 4,450,000 equity shares opens on Aug 11. The price band has been fixed at Rs 263 to Rs 272 per share of Rs 10 each. The 100% book built issue closes on Aug 13.
The issue comprises of reservation of 250,000 shares for employees, leaving the net issue to the public at 4,200,000 shares. The net issue would constitute 14.72 per cent of the post issue paid-up capital.
Motilal Oswal Investment Advisors is the book running lead manager and PL Capital Markets and Ashika Capital are the Co-BRLMs. The shares are proposed to be listed on BSE and NSE.
Resurgere is engaged in the business of extraction, processing and sale of mineral products and exploration and development of mining assets.
The company proposes to utilise the net proceeds to part finance the purchase of plant and machinery valued at Rs 128.56 crore for setting up its own extraction and crushing facilities at the mines and purchase of six railway rakes worth Rs 116.36 crore to set up own logistics infrastructure facilities, besides meeting working capital needs.
Resurgere proposes to part finance the cost through term loans of Rs 86 crore to be raised from banks, Rs 43 crore through private equity funding from Merrill Lynch International and Rs 13.73 crore through Pre-IPO allotment.
Merrill Lynch International holds 3,000,000 shares, India Business Excellence Fund-I holds 910,000 equity shares, IL&FS Trust Co. holds 402,500 shares, Motilal Oswal holds 250,000 shares and Raamdeo Agarwal holds 200,000 Shares in the company.
The issue comprises of reservation of 250,000 shares for employees, leaving the net issue to the public at 4,200,000 shares. The net issue would constitute 14.72 per cent of the post issue paid-up capital.
Motilal Oswal Investment Advisors is the book running lead manager and PL Capital Markets and Ashika Capital are the Co-BRLMs. The shares are proposed to be listed on BSE and NSE.
Resurgere is engaged in the business of extraction, processing and sale of mineral products and exploration and development of mining assets.
The company proposes to utilise the net proceeds to part finance the purchase of plant and machinery valued at Rs 128.56 crore for setting up its own extraction and crushing facilities at the mines and purchase of six railway rakes worth Rs 116.36 crore to set up own logistics infrastructure facilities, besides meeting working capital needs.
Resurgere proposes to part finance the cost through term loans of Rs 86 crore to be raised from banks, Rs 43 crore through private equity funding from Merrill Lynch International and Rs 13.73 crore through Pre-IPO allotment.
Merrill Lynch International holds 3,000,000 shares, India Business Excellence Fund-I holds 910,000 equity shares, IL&FS Trust Co. holds 402,500 shares, Motilal Oswal holds 250,000 shares and Raamdeo Agarwal holds 200,000 Shares in the company.
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