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Kamdhenu Ispat Public Issue opens on April 3

Written by: Staff

Bangalore, Mar 28 (UNI) Kamdhenu Ispat Limited, a leading company dealing with manufacturing and marketing of construction materials, will be entering capital market with public issue of 1,28,00,000 Equity Shares of Rs 10 each at a premium of Rs 15.

The issue would open on April three and close on April eight with Chartered Capital and Investment Limited as the lead manager and Karvy Computershare Private Limited the Registrar to the Issue.

Announcing this at a press conference here today, Company Director and Chief Executive Officer Sunil Agarwal said the money raised would be utilised for setting up one stock yard each in Himachal Pradesh, Rajasthan, Gujarat, Madhya Pradesh and Uttar Pradesh.

He said the Public Issue comprised promoters' contribution of 36,74,700 shares. The net offer to the public would be 91,25,300 shares. The Issue would also have a Green Shoe Option of 13,68,795 equity shares to be offered at a price of Rs 25 each.

An ISO 9001-2001 certified company, Kamdhenu Ispat Limited, had a turnover of Rs 127 crore in 2004-05 and during the first nine months ending December 2005, it has registered a turnover of Rs 98 crore.

Mr Agarwal said the company hadfranchise arrangements with 22 entities manufacturing steel, six cement units and one unit each in SS Water pipe and Housing segment.

The company already had stock yards in Punjab, Bangalore, Delhi, Haryana and Tamil Nadu.


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