Business Daily from THE HINDU group of publications
Tuesday, Oct 24, 2006
ePaper


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Markets - IPOs
Ruchira Papers plans to raise Rs 28.5 cr thru IPO

Our Bureau

New Delhi , Oct. 23

Ruchira Papers Pvt Ltd, a Himachal Pradesh-based kraft paper manufacturer, said on Monday that SEBI had approved its plans to raise Rs 28.5 crore through the Initial Public Offering (IPO), being made through the 100 per cent book building process. The funds would be utilised towards setting up a manufacturing unit at Kala-Amb in Himachal Pradesh.

Punjab National Bank and A K Capital Services Ltd are the book running lead managers for the issue.

Out of the total cost of Rs 135.5-crore for the manufacturing unit, Rs 93.48 crore is being funded by a consortium of bankers, Rs 9 crore by the promoters, Rs 12 crore through internal accruals, and the rest will be raised through the IPO.

Ruchira Papers is engaged in the manufacturing of kraft paper, with a market value of about Rs 100 crore. The company's current capacity is 52,800 tonnes per annum, and with new facility it would increase to 85,800 tonnes per annum.

The company clocked a turnover of Rs 62.61 crore in 2005-06 and reported a net profit of Rs 3.02 crore for the first half of 2006-07 with a turnover of Rs 37.76 crore.

More Stories on : IPOs | Paper | rd & Newsprint

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



Stories in this Section
Fertiliser stocks shine


Sweet news for sugar stocks?
Bear domination
Weak start
HK fund manager cuts stake in India Cements
Some earnings have surprised on the upside: Forsyth Partners
Across-the-board decline amid low volumes
Raj TV files for IPO
Kanakia to raise Rs 150 cr thru IPO
Ruchira Papers plans to raise Rs 28.5 cr thru IPO
Markets begin new year on low note


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

Copyright 2006, 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