Mumbai, Mar 17 (UNI) 20 Microns Limited (20ML), a pioneer in micronised minerals and trend setter in market for usage of ultrafine minerals ranging from 20 microns to 2 microns particle size for paints and plastic industries, 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 94,25,632 equity shares of Rs 10 each, for cash at a price to be decided through a 100 per cent Book-Building Process.
Upto 4,71,282 equity shares would be reserved for subscription by eligible employees. The issue will constitute 49.10 per cent of the post issue paid up capital of the Company.
The issue comprises a net issue to public of 67,50,000 equity shares of Rs 10 each and an offer for sale of 26,75,632 equity shares by Gujarat Venture Capital Fund 1995.
The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).
Over the years, 20ML, capitalising on its strength of developing products, as per market needs and with on-going Research and Development, has introduced minerals of sub micron size and helped all the industrial segments to get benefits in terms of functional properties and pricing of their products.
With its constant efforts and technical support, 20ML popularised the concept of finer Calcium Carbonate and other mineral fillers and innovated a good substitute for paint and plastic industries.
Usage of grades of finer particle in the range of 20 Microns and finer grades of Calcium Carbonate/Talc/Kaolin/Dolomite and Mica is very common now for various industrial segments. Till 1987, most of the customers in paints and plastic industries were using the conventional ground extenders and fillers without quality consistency supplied by the traditional mine owners and inter media processors of minerals.
20ML sensed the opportunity to exploit it to the best of industry and reaped its benefit with one to one customer interaction through seminars, conferences and other media which helped in generating customer confidence for improved and consistent quality of minerals and product development too.
UNI VK RN SM1747