Somi Conveyor Beltings Ltd - IPO

Somi Conveyor Beltings Ltd IPO Details

Issue of 62,27,860 equity shares of Rs. 10/- each at a price of Rs.35/- per equity share (including a Premium of Rs.25/-per Equity Share) of Somi Conveyor Beltings Ltd for cash aggregating to Rs.21.80 Crores (issue). The issue comprises of contribution by promoters, of 14,99,286 equity shares of Rs. 10/- each at a price of Rs.35 per equity share for cash aggregating to Rs.5.25 Crores (promoter's contribution portion), and the net issue to the public of 47,28,574 equity shares of Rs. 10/- each at a price of Rs.35/- per equity share for cash aggregating to Rs.16.55 Crores (net issue to public) including an allocation of atleast 10% of the net issue to the public to Aualified Institutional Buyers (QIB Portion). The net issue to public would constitute 40% of the fully diluted post issue paid up capital of the company.The issue price is 3.5 times of the face value of the equity share.

Objective of issue

Setting up of new Manufacturing Unit. Purchase of Land and Building for the premises. To Meet Margin Money requirement. Interest Cost During the Construction Period.

Somi Conveyor Beltings Ltd Contact Details

Somi Conveyor Beltings Ltd, 21 Shakil Niwas, Mahakali Caves Road, Andheri (E), Mumbai - 400 093

Phone - 91-22-28262920

Fax - 91-22-28207207

Email - sales@somiconveyor.com, info@ombhansali.com

Website - www.somiconveyor.com