Oriental Trimex Ltd IPO to open on February 8

Mumbai, Feb 2: Oriental Trimex Ltd is entering the capital market on February 8 with an initial public offerings (IPO) through a book built issue.

The issue closes on February 14 this year.

The public issue is of 1,00,00,000 Equity Shares of Rs 10 each at the price band of Rs 40 to Rs 48 per Equity share. The post issue equity capital will be of Rs 15.50 crore with promoters stake at 39.37 per cent.

The Company Managing Director Mr Rajesh Punia told newsmen, ''The company imports rough marble, blocks/semi finished slabs from Middle East Countries and also from Greece, Egypt, Spain and Italy and processes the same in its plant located at Greater Noida. Oriental Trimex is now proposing to expand its business activities by taking such inititatives from funds generated from the IPO. The company has already secured lease of two Granite Quarries of green and blue granite in the state of Orissa, which have estimated minerable deposits of Rs 452 crore.''

UNI