Kamdhenu Ispat Ltd IPO opens on Apirl 3

Mumbai, Mar 27 (UNI) Kamdhenu Ispat Ltd proposes to enter the capital market on April 3 with an initial public offer (IPO) of 1,28,00,000 Equity Shares of Rs ten each. The Issue closes on Apirl 8 this year and the price has been fixed at Rs 25 (at a premium of Rs 15 per Equity shares).

The company proposes to deploy the net proceeds of the Issue to set up stockyards in ten states for marketing the Kamdhenu Brand Contruction Materials, the release said here today.

The company has franchisee arrangements with 22 entities manufacturing steel, six cement units and one unit each in SS water pipe and housing segment. These units function under strict quality regime as laid down by the company. With the total strength of 30 franschisee units manufacturing various infrastructural products Kamdhenu brand is fulfilling the demands of its consumers in more than 22 states. The franchisee markets the products using the marketing network of Kamdhenu and pays the company royalty on sale per tonne basis.

In order to better co-ordinate and organize its distribution network between various franchisee units, the company has five stockyards, one each in Punjab, Bangalore, Delhi, Haryana and Tamil Nadu. The Company proposes to build five more stockyards, one each in Himachal Pradesh, Rajasthan, Gujarat, Madhya Pradesh and Uttar Pradesh, the release added.

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