Thursday, Mar 24, 2005
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MUMBAI, MARCH 23. Apparel export company Gokaldas Exports fixed a price band of Rs. 375-425 per share for its forthcoming initial public offering to raise up to Rs. 132.81 crores to set up new factories and repay working capital loan. The proceeds from the IPO will go towards building of four new factories and upgrading existing plans. The setting up of new factories would cost the company an estimated Rs. 45.60 crores while the modernisation and expansion plans would cost Rs. 20 crores. The working capital loan of the company stands at Rs. 30 crores. The IPO would consist of 31.25 lakh equity shares of Rs 10 each and constitute 18.8 per cent of the fully diluted post issue paid-up capital of the company. The issue opens for bidding on March 30 and closes on April 6. Enam Financial Consultants is the book running lead manager to the issue while Karvy Computershare is the registrar. — PTI
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