Gulshan sugar and Chemicals to bring public issue

By Staff
|
Google Oneindia News

Lucknow, Nov 20: Gulshan Sugars and Chemicals Ltd, one of the largest producers of calcium carbonate, is entering the capital market with its follow-up public issue of 66,00,000 equity shares of Rs 8 each at a premium of Rs 32 per share, aggregating to Rs 26.40 crore.

The issue opens on November 22 and closes on November 28,2006.

Company's Managing Director C K Jain said here today that the issue would constitute 51.51 per cent of fully diluted post issue paid up capital of the company.

He said the company is raising the funds to extend its capacity up to 20,000 Tonne per annum Ground Calcium Carbonate (GCC) unit and to set up an additional 3 MW captive power plant at its manufacturing facilities in Muzaffarnagar.

The company has earned a profit of over Rs 2 crore in the last fiscal with a turnover of over Rs 47 crore.

UNI

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