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AML Steel files red herring prospectus

CHENNAI: AML Steel has filed draft red herring prospectus with the Securities and Exchange Board of India for its forthcoming follow-on public issue of equity shares of Rs.10 each for cash at a premium aggregating Rs. 120 crore. The issue is to be made through 100 per cent book building. The company is raising the money to part finance its wholly owned subsidiary's integrated steel project being set up in Jharkhand and acquisition of existing steel plants and to fund the working capital requirements.

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