Kovilpatti Lakshmi Roller Flour Mills public issue priced at Rs 55
Mumbai, Nov 21 (UNI) Kovilpatti Lakshmi Roller Flour Mills Ltd is set to enter the capital market on November 27 with a public issue of 26 lakh equity shares of Rs 10 each at a premium of Rs 45 per share aggregating Rs 14.30 crore.
Addressing a press conference here today, its Managing Director Suresh Jagannathan said the net proceeds of the issue would be deployed to part-finance its Rs 30.60 crore expansion plan.The plan envisages investment into a Coimbatore-based Eltex Super Castings Ltd and setting up of two additional windmills of 1.25 MW each for captive consumption.
Replying to a question, Mr Jagannathan said the company proceeds to raise Rs 14.30 crore through this public issue to partly fund the expansion, while the balance funding of Rs 16.30 crore is being generated through term loan and internal accruals.
The issue closes on December 01. Keynote Corporate Services is the lead manager and Intime Specturm Registry is the registrar to the issue.
The shares are to be listed on Bombay Stock Exchange (BSE), Madras Stock Exchange and Coimbatore Stock Exchange.
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