The initial public offering of RDB Rasayans , a packaging material manufacturer, has opened for subscription today. The company offers 45 lakh equity shares through the issue.
It aims to raise around Rs 32.4-35.55 crore at price band of Rs 72-79 a share. The issue will close on September 23.
Bids can be made for a minimum of 80 equity shares and in multiplies of 80 equity shares thereafter.
RDB is engaged in the business of manufacturing and selling of FIBC (jumbo bags) and woven sacks and various woven polymer based products like container liners, protective irrigation system, canal liners, etc. These products use fertilizers, cement, polymers, chemicals, textiles, machinery, automobiles and steel industry etc. Its manufacturing facility is located in West Bengal.
Issue proceeds are proposed to be used for enhancing the manufacturing capacity by 7450 MTPA by establishing the Unit -II for Jumbo Bag Liners.
Earlier the company increased its manufacturing in March 2009 to total 6050 MTPA (5400 MT for extruder and 650 MT for liners) from 1800 MT (for extruder).
Chartered Capital and Investment Ltd is the book running lead manager to the issue.
No comments:
Post a Comment