2025-03-16 23:45:00
Latest Post
Maharashtra Seamless Limited receives order worth Rs. 298 crores
P N Gadgil Jewellers Limited opens new store at Talegoan Dabhade, Pune
Zydus receives final approval from USFDA for Eluxadoline Tablets, 75 mg and 100 mg
Oberoi Realty Limited opens 'Sky City Mall' at Borivali East, Mumbai
Solarium Green Energy Ltd enters into MOUs for solar panels
IPO News
Gemini Engi-Fab Limited IPO opens 3rd February, Price Band fixed at Rs. 75 to Rs. 80
Posted On : 2009-01-28 21:24:04( TIMEZONE : IST )
MUMBAI, 28th January 2009: Gemini Engi-Fab Limited, engaged in manufacturing and salvaging of process equipments through fabrication for various process industries, proposes to enter the capital markets on 3rd February 2009 with a public issue of 55,00,000 Equity shares of Rs. 10 each through 100% book building process. The price band has been fixed at Rs. 75 to Rs. 80 per equity share of Rs 10 each. The Issue closes on 6th February, 2009. CARE has assigned 'CARE IPO Grade 2' to the IPO indicating below average fundamentals. CARE assigns IPO grades on a scale of Grade 5 to Grade 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. The Issue would constitute 46.40% of the fully diluted post issue paid-up capital of the Company. Almondz Global Securities Limited is the Book Running Lead Manager for the Issue.
The net proceeds of the Issue is proposed to be utilized to part finance the Company's expansion plan of setting up a new manufacturing workshop at Umbergaon in Gujarat with a total investment of Rs 49.84 crores. Barclays Bank PLC has sanctioned a term loan of Rs 10 crores to part finance its project. The Company has already acquired a plot of 54,981 sq. mtrs of land for the purpose.
Gemini Engi-Fab Limited, an ISO 9001:2000 certified Company, is engaged in manufacturing and salvaging of process equipments through fabrication for various process industries, such as cement, dairy, refinery, pharmaceutical, petrochemical, power and chemical. Fabrication is building of machines, structures, or process equipment as required, by cutting, shaping and assembling components made from raw materials. It manufactures customized equipments also for which it has a multi-purpose manufacturing facility. The operations of the Company are spread across various industries that enable them to decrease their dependence on one particular industry.
Gemini Engi-Fab Limited's total income was Rs 14.06 crores and PAT at Rs 1.22 crores for FY 2007 and the total income was Rs 23.26 crores and PAT of Rs 3.84 crores for FY 2008. During the first half of the current fiscal ended 30th September 2008 the total income touched Rs 16.44 crores and PAT at Rs 4.30 crores. As on 30th September, 2008 the Company's Order Book was Rs. 17.70 crores. Further, the Order Book is diversified sector-wise.
