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IPO News
Vimal Oil and Foods Ltd public issue to open on March 14, 2007
Posted On : 2007-03-03 23:03:06( TIMEZONE : IST )
Vimal Oil and Foods Ltd is coming out with follow-on public issue of equity shares which opens for subscription on March 14, 2007. The issue comprises of composite issue of 1,23,96,667 equity shares of Rs.10/- each aggregating to Rs.3582.50 Lakhs comprising of:
1. Rights issue of 27,30,000 equity shares of Rs.10/- each for cash at a premium of Rs.15 Per share (i.e. at a price of Rs.25 Per share) aggregating to Rs.682.50 Lakhs to the existing shareholders of the company in the ratio of three (3) equity shares for every five (5) equity shares held on 29th january, 2007.
2. Public issue of 96,66,667 equity shares of Rs.10/- Each for cash at a premium of Rs.20 Per share (i.e. at a price of Rs.30 Per share) aggregating to Rs. 2900.00 Lakhs including promoters contribution of 25,00,000 equity shares of Rs.10 Each for cash at a premium of Rs.20 per share (i.e. at a price of Rs.30 per equity share) aggregating to Rs.750.00 Lakhs and the net issue to the public of 71,66,667 equity shares agrregating to Rs.2150.00 Lakhs.
The face value of the equity shares is Rs.10/- Per equity share and the rights issue price of Rs.25 Per equity share is 2.5 times of the face value and the public issue price of Rs.30 is 3.0 times of the face value.
The net public issue would constitute 42.29 % of the post issue paid up capital of the company.
Centrum Capital Ltd is the lead manager to the issue. Intime Spectrum Registry Ltd is the registrar to the issue.
The rights issue to existing share holders opened for subscription on 21 February 2007 and closes on March 23, 2007.
The public issue opens for subscription on 14 March 2007 and closes on March 23, 2007.
The existing Equity Shares of the Company are listed on Bombay Stock Exchange Limited (Designated Stock Exchange) and Ahmedabad Stock Exchange Limited. The Equity Shares to be issued through this issue are proposed to be listed on Ahmedabad Stock Exchange Limited and the Bombay Stock Exchange Limited.
The company's website is Vimal Oil and Foods Ltd.
Click here to view the company's prospectus Vimal Oil and Foods Ltd
The company's shares closed at Rs.33.80 during Friday's (March 2, 2007) trading.
