Rathi Bars to enter the capital market with an IPO on Oct 18

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Jaipur, Oct 15 (UNI) Rathi Bars Ltd, an ISO 9002 certified manufactuer of steel bars is entering the capital market with an initial public offer (IPO) of 71,42,857 shares of Rs 10 each for cash at a fixed price of Rs 35 per share agregating to Rs 2,500 lakh.

Addressing a press conference here, Company Managing Director Anurag Rathi today said the issue will open for subcription on Oct 18 and will close on Oct 23, 2007.

The equity shares are proposed to be listed on the Bombay Stock Exchange Ltd (BSE). He said the issue would constitute 43.74 per cent of the fully diluted post issue paid up capital of the company. The objects of the issue are to part finance the purchase of plant and machinery for expansion, modernisation, building and civil works, and working capital requirements.


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