[MyFamilyInvestment] Plastene India IPO
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May 5, 2012, 2:42:03 AM5/5/12
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Plastene India, a manufacturer of jumbo bags and BoPP woven sacks, is coming out with an IPO of 92,55,290 equity shares of face value of Rs 10 each. The issue comprises of employees' reservation of upto 55,290 equity shares. The company aims to raise around Rs 74.97-77.74 crore via public issue, by diluting 25.89% stake in the company.
The IPO will open on 9 May, 2012 and will close on 15 May, 2012. The company has announced a price band of Rs 81-84 per share. Investors can apply for minimum 75 equity shares and in multiples of 75 shares thereafter.
Plastene intends to expand manufacturing facilities of jumbo bags and BoPP woven sacks at its existing units at Nani Chirai in the Kutch district of Gujarat and at Rajpur in the Mehsana district of Gujarat. The company also intends to venture into manufacturing of new product called as block bottom valve bags used for packaging of cement, pharma food grains etc.
Plastene India's equity shares are proposed to be listed on the BSE and NSE. Motilal Oswal Investment Advisors Pvt Ltd is the book running lead manager to the issue.
The IPO will open on 9 May, 2012 and will close on 15 May, 2012. The company has announced a price band of Rs 81-84 per share. Investors can apply for minimum 75 equity shares and in multiples of 75 shares thereafter.
Plastene intends to expand manufacturing facilities of jumbo bags and BoPP woven sacks at its existing units at Nani Chirai in the Kutch district of Gujarat and at Rajpur in the Mehsana district of Gujarat. The company also intends to venture into manufacturing of new product called as block bottom valve bags used for packaging of cement, pharma food grains etc.
Plastene India's equity shares are proposed to be listed on the BSE and NSE. Motilal Oswal Investment Advisors Pvt Ltd is the book running lead manager to the issue.
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Posted By Blogger to MyFamilyInvestment at 5/05/2012 12:12:00 PM
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