Sunday, Jun 26, 2005
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Staff Correspondent
CHENNAI: SPL Industries, formerly Shivalik Prints Private Ltd, is entering the capital market on June 29 with a public issue of 90 lakh equity shares of Rs. 10 each for cash at a premium through the 100 per cent book-building route. Addressing a press conference here on Wednesday, Vijay Jindal, Joint Managing Director, SPL Industries, said the issue would constitute 31.03 per cent of the fully diluted post-issue paid-up capital of the company. Mr. Jindal said that the issue would be made at a price band of Rs. 60 to Rs. 70 per share. The proceeds of the issue would be utilised in setting up a yarn dyeing plant and a unit for manufacture of woven garments at Faridabad. Of the issue size, about Rs. 35 crore would go towards expansion and the balance for working capital expenses. The total expansion cost would be Rs. 41.83 crore.
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