Granite tiles producer Jaishree Industries has filed draft red herring prospectus with the market regulator SEBI for initial public offering of Rs 56.86 crore worth of equity shares.
Jaishree Industries (erstwhile Jaishree Granites Private Limited) is engaged in the business of production of granite tiles and slabs in India with an annual installed capacity of 200,000 square meters. Company also manufactures counter tops for export purposes. Other products of company include cobbles and curb stones.
Company is also engaged in the trading of agri-commodities (food grains & pulses). It intends to expand operations by entering into manufacturing of refined oil from soybean seeds and other soybean products.
Issue proceeds (excluding general corporate and issue expenses) are proposed to be used for expanding the agri commodity business by setting up soybean solvent extraction plant & ancillary units (with the cost of Rs 28.65 crore) and working capital requirement for the proposed expansion project (marble & soybean oil extraction) (with Rs 20.96 crore).
For the period of six months ended on September 30, 2010, it has reported a profit after tax of Rs 1.97 crore and net sales of Rs 24.96 crore.
Jaishree Industries (erstwhile Jaishree Granites Private Limited) is engaged in the business of production of granite tiles and slabs in India with an annual installed capacity of 200,000 square meters. Company also manufactures counter tops for export purposes. Other products of company include cobbles and curb stones.
Company is also engaged in the trading of agri-commodities (food grains & pulses). It intends to expand operations by entering into manufacturing of refined oil from soybean seeds and other soybean products.
Issue proceeds (excluding general corporate and issue expenses) are proposed to be used for expanding the agri commodity business by setting up soybean solvent extraction plant & ancillary units (with the cost of Rs 28.65 crore) and working capital requirement for the proposed expansion project (marble & soybean oil extraction) (with Rs 20.96 crore).
For the period of six months ended on September 30, 2010, it has reported a profit after tax of Rs 1.97 crore and net sales of Rs 24.96 crore.
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