Financial Daily from THE HINDU group of publications
Sunday, Apr 10, 2005
Financial Daily from THE HINDU group of publications Sunday, Apr 10, 2005 |
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Corporate
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Outlook Markets - IPOs SPL Industries plans IPO Our Bureau
Mumbai , April 9 SPL Industries, formerly Shivalik Prints Private Ltd, plans to enter the capital market with a public issue of 90 lakh equity shares of Rs 10 each for cash at a premium through 100 per cent book-building route. According to a press release, the issue would constitute 31.03 per cent of the fully diluted post-issue paid-up capital of SPL Industries. The company has filed the draft red herring prospectus with SEBI for this IPO. The book running lead manager is Karvy Investor Services and the co-book running lead manager is UTI Securities. The proceeds of the issue will fund a new yarn dyeing plant and a unit for manufacturing woven garments. The company also plans to expand the existing capacities for knitting and dyeing of fabrics, knitting garment plant and manufacturing of home furnishings and embroidery. Towards this the company has been sanctioned a term loan of Rs 10 crore by the IDBI under the TUFs scheme.
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