Issue Price: Rs. 45 - Rs. 49 Per Equity Share
Issue Detail:
»» Issue Open: Apr 29, 2011 - May 03, 2011
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 10,000,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 45.00 - 49.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Market Lot: 120 Shares
Allotment Status: http://www.linkintime.co.in/newsite/ipoInformation.jsp
Bid Details:
Number of Times Issue is Subscribed (BSE + NSE) As on Date & Time Qualified Institutional Buyers (QIBs) Non Institutional Investors (NIIs) Retail Individual Investors (RIIs) Total Shares Offered / Reserved 5,000,000 1,500,000 3,500,000 10,000,000 Day 1 - Apr 29, 2011 17:00 IST 0.0000 6.0800 0.1000 0.9500 Day 2 - May 02, 2011 17:00 IST 0.0000 7.4100 0.4300 1.2600 Day 3 - May 03, 2011 18:00 IST 0.1600 11.2900 6.8300 4.1600
Incorporated in 2003, Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets & Ingots and power generation.
Company has manufacturing facilities in an industrial area at Sondra Village, near to Raipur train station. Presently VIL manufactures Coal-based Sponge Iron using 3 indigenously developed rotary kilns, with a capacity of 90000 M.T. (3 X 100 MT) along with a Waste Heat Recovery Boiler (WHRB) with a generation capacity of 11.5 MW Power & a Steel Ingot/Billet Plant of capacity 59400 MT. (2 X 9 MT).
In past, Company has Installed 3 Induction Furnaces with a capacity of 36000 MT for manufacturing of Steel Billets & Ingots utilising in-house production of Sponge Iron. (In year 2007 / 08).
Company has also installed power generation of 7.5 MW, 5 MW from Waste Heat Recovery Boiler (WHRB) and 2.5 MW from Coal) for captive consumption. Company sells its surplus power generated to private power companies.
Company Promoters:
The promoters of the company are:
1. Mr. Ravi Vaswani
2. Pramod Vaswani
3. Mr. Yashwant Vaswani
Objects of the Issue:
The objects of the issue are:
1. To finance pre-payment of the term loan;
2. To finance long term working capital requirement;
3. For general corporate purposes and;
4. To finance public issue expenses.
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