11 MARCH 2013The Economic Times
India’s Bothra Metals to list on SME Exchange through $2.2 million IPO
Edited by : AL CIRCLE
1 min read
Bothra Metals & Alloys Ltd plans to raise $2.2 million through an initial public offer (IPO) and list on BSE SME Exchange platform.
"We are making an IPO for $89,772 equity shares at a premium of $0.3 per share to raise $2.2 million. The IPO comprises offer for sale by the promoters and issue of fresh equity shares. The company will be listed on BSE SME platform," Bothra Metals Managing Director Sunder Bothra told reporters.
The net proceeds of the issue will be utilized to meet working capital requirements, he said. The issue will open today, March 12 and close on March 14. The company manufactures aluminium products and has 15,000 MTPA capacity in its three units at Kala Amb (Himachal Pradesh), Bhavnagar (Gujarat), and Sangli (Maharashtra).
“It recently commissioned additional capacity of 10,000 MTPA of aluminium products at Sangli and the expansion was funded through internal accruals”, Bothra said.
The company is also tapping export potentials in Israel and South African markets, he said.
"We are making an IPO for $89,772 equity shares at a premium of $0.3 per share to raise $2.2 million. The IPO comprises offer for sale by the promoters and issue of fresh equity shares. The company will be listed on BSE SME platform," Bothra Metals Managing Director Sunder Bothra told reporters.
The net proceeds of the issue will be utilized to meet working capital requirements, he said. The issue will open today, March 12 and close on March 14. The company manufactures aluminium products and has 15,000 MTPA capacity in its three units at Kala Amb (Himachal Pradesh), Bhavnagar (Gujarat), and Sangli (Maharashtra).
“It recently commissioned additional capacity of 10,000 MTPA of aluminium products at Sangli and the expansion was funded through internal accruals”, Bothra said.
The company is also tapping export potentials in Israel and South African markets, he said.
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