A manufacturer of lead metal Gravita India is entering capital market with an initial public offering (IPO) of 36 lakh equity shares on November 1.
Online PR News – 27-October-2010 – – A manufacturer of lead metal Gravita India is entering capital market with an initial public offering (IPO) of 36 lakh equity shares on November 1 and will close on November 3.
The company aims to raise Rs 40 crore at a price band of Rs 120-125 a share.
Gravita intends to utilise the proceeds of the issue for setting up an additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra. It will also use the proceeds for investment in overseas ventures at Sri Lanka - Navam Lanka Limited, Senegal - Pagrik Senegal SA and Honduras - Gravita Honduras SA.
Part of proceeds will also be used for setting up manufacturing facilities at Australia, Belarus, Chile and Mexico.
Keynote Corporate Services Ltd is the book running lead manager to the issue.
The company is engaged in the business of manufacturing of lead metal by recycling and smelting process.
It has a subsidiary Gravita Exim Limited, which is specialised in providing turnkey solutions and consultancy services on engineering and design for the secondary lead companies.
It think this is the Good IPO as per investment point of view.