KEW Industries enters capital market with Rs 21 crore IPO

Mumbai, Aug 10 (UNI) KEW Industries limited, a manufacturer and supplier of defence stores and automobile components proposed to enter the capital market with a fixed price public issued of 70,00,000 equity shares of Rs ten each at a price of Rs 30 aggregasting to Rs 21 crore.

According to a release issued here today, the company has already received Security Exchange Board of India (SEBI) observation for the issue and proposed to enter the market towards August end. The issue would constitute 54.33 per cent of the fully diluted post issue paid up capital of the company.

The fact that its total income has jumped from Rs 30.13 crore in the first year 2002 to Rs 39.64 crore in the fourth year 2006 and profit tax during the same period has shot up from Rs 1.85 crore to Rs 2.99 crore.

UNI VD KU SKB1710