Euro Multivision files DRHP for IPO

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Mumbai, Jan 10 (UNI) Euro Multivision Limited (EML), the second largest company engaged in the manufacturing of CDRs and DVDRs, has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market soon with an Initial Public Offering (IPO) of 88,00,000 equity shares of Rs 10 each for cash through a 100 per cent Book-Building Process.

The Issue will constitute 36.97 per cent of the post issue paid up capital of the Company. The Issue comprises a Net Issue to public of 86,00,000 Equity Shares of Rs 10 each and a reservation of upto 2,00,000 Equity Shares of Rs 10 each for the employees. The Company was also considering a pre-IPO placement (Pre-IPO Placement) subject to a minimum Net Issue to the Public being 25 per cent of the post Issue paid-up capital of the Company. The Equity Shares are proposed to be listed on Bombay Stock Exchange Ltd. (BSE) and National Stock Exchange of India Ltd. (NSE), the company said in a release here today.

EML proposed to build a photovoltaic solar cell manufacturing unit with a capacity of 40 MW per year at a total cost of Rs 167.56 crore at Taluka Bhachau in Kutch District of Gujarat. The company proposed to set up this photovoltaic plant in a Special Economic Zone to be developed by them. The fund requirement would be met through the proceeds from the Issue and the term loan component.

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