Rathi Bars` IPO in Oct`07
Rathi Bars` IPO in Oct`07
Rathi Bars the North India-based steel maker, will tap the capital markets with an initial public offering (IPO) this October, reports Business Line.
The company will issue 10 million shares of Rs 10 each at a premium of Rs 25. Rathi Bars will raise Rs 250 million from the IPO, which will be utilized for capacity enhancement from the present 70,000 tons a year to 100,000 tons a year.
Further, the company will also use Rs 40 million from term loan and another Rs 50 million from internal accruals.
Rathi Bars, which has a plant at Alwar, Rajasthan, makes TMT steel bars used in the construction industry. The company has been growing at a compounded annual growth rate (CA GR) of 22% in the last three years and hopes to continue this momentum in the future as well.
