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Shivalik Global to expand thru IPO route
22 Feb '06
2 min read
Shivalik Global Limited (SGL), an integrated textile production facility plans to enhance its output by entering capital market with an IPO of one crore equity shares at a fixed price of Rs 60 per share.
Each share will have a face-value of Rs 10 per share will be sold at a premium of Rs 50.
Of the one crore equity shares, 30 percent share will alloted to financial institutions, banks and mutual funds, non-resident Indians and employees of the company and net offer to the public will be 70 percent, stated an official release.
The equity capital of the company will rise to Rs 24.25 crore and share premium to Rs 50 crore after closure of IPO.
SGL plans to invest Rs 60 crore for expanding ready-made garments capacity from 24 lakh pieces to 60 lakh pieces, dyeing and printing and processing of woven fabrics capacity from 360 lakh metres to 450 lakh metres and fabric knitting capacity from 1,150 metric tons per annum to 2,150 metric tons per annum.
The dyeing and processing of yarn capacity is also to be increased from 1,400 metric tons per annum to 1,900 metric tons per annum whereas dyeing and processing of knitted fabrics capacity will be increased from 4,000 metric tons per annum to 5,500 metric tons, the release stated.
Each share will have a face-value of Rs 10 per share will be sold at a premium of Rs 50.
Of the one crore equity shares, 30 percent share will alloted to financial institutions, banks and mutual funds, non-resident Indians and employees of the company and net offer to the public will be 70 percent, stated an official release.
The equity capital of the company will rise to Rs 24.25 crore and share premium to Rs 50 crore after closure of IPO.
SGL plans to invest Rs 60 crore for expanding ready-made garments capacity from 24 lakh pieces to 60 lakh pieces, dyeing and printing and processing of woven fabrics capacity from 360 lakh metres to 450 lakh metres and fabric knitting capacity from 1,150 metric tons per annum to 2,150 metric tons per annum.
The dyeing and processing of yarn capacity is also to be increased from 1,400 metric tons per annum to 1,900 metric tons per annum whereas dyeing and processing of knitted fabrics capacity will be increased from 4,000 metric tons per annum to 5,500 metric tons, the release stated.
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