Financial Daily from THE HINDU group of publications
Tuesday, Jul 05, 2005

Port Info

Group Sites

Corporate - New Projects
Markets - IPOs

Shri Ramrupai Balaji Steels IPO on Friday

Our Bureau

Mumbai , July 4

SHRI Ramrupai Balaji Steels Ltd, part of Rs 500-crore Kolkata based Jai Balaji Group, is entering the capital market on July 8 with an IPO of 2 crore shares of Rs 10 each through a 100 per cent book building route to part-finance its Rs 285-crore project for a vertically integrated steel plant in Durgapur, West Bengal.

The price band for the issue has been fixed at Rs 20-22 per share. The issue closes on July 14. The company has reserved 10 lakh shares for allocation to permanent employees, leaving net offer to the public at 1.9 crore shares. The issue would constitute 30.31 per cent of the post issue paid up capital of the company.

Total funds to be raised through this issue would work out to Rs 40 crore at lower end of the price band and Rs 44 crore at higher end of the price band. The Book Running Lead Managers to the issue are Microsec India Ltd and Anand Rathi Securities Private Ltd and Registrar to the issue is Intime Spectrum Registry Ltd.

The Jai Balaji Group has an installed capacity of 345,000 tonnes of sponge iron and 363,000 tonnes of semis and rolled products making it a large player in the steel industry in Eastern India.

Shri Ramrupai Balaji Steels has already commissioned facilities to manufacture 1,20,000 tonne per annum (TPA) of sponge iron, 80,500 tonne of pig iron and a rolling mill with a capacity of 80,000 tonne per annum. And the commercial production for all these units has already commenced. The steel melting shop, with a capacity to manufacture 1,76,418 TPA of MS billets and a coal washery, with the capacity of 2,16,000 TPA is expected to be commissioned by August 2005. The company is also in the process of setting up a 40-MW captive power plant.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reliance Ind acquires 1.36 cr shares of REL

Deal with Sudanese co only for non-combat vehicles: Ashok Leyland
Ranbaxy gets FDA nod for anti-diabetic drug
Pidilite share split
Era Constructions gets cable order
ICAI council to discuss new standards at July 6-8 meeting
Priyamvada Birla will: Tapuria, Khaitan move HC to become parties to suit
The Corporation: In relentless pursuit of self-interest
Bechtel to go ahead with arbitration on Dabhol
Gujarat NRE jt venture acquires coal mining leases in Australia
Essar to sign MoU with Chhattisgarh for steel plant
Macmillan India in expansion mode
Shri Ramrupai Balaji Steels IPO on Friday
Suryalata Spinning plans expansion
M&M plans to bid for tractor company in Romania
Micromatic Machine Tools plans office in China
M&M begins China operations; hands over first tractor
Tecpro ties up with German co for pipe conveyor belts tech
Bosch in pact with German co for filter systems
Volvo wants to make a big push in India
`Final decision on independent directors issue by next month'
BHEL to spend Rs 1,000 cr on capacity-building
Yamaha gearing up product line; scooter launch on cards
South accounts for 37 pc of Toyota Innova sales
Gujarat industry on road to normalcy

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line