Rathi Bars to raise Rs 250 mn via IPO
Rathi Bars plans to raise Rs 250 mn via IPO
TMT bar manufacturer Rathi bars is considering to raise Rs 250 million via an initial public offering (IPO) to fund its expansion needs, reports Business Line.
The company plans to issue 7.143 shares of face value Rs 10 each, at Rs 35 a share. The IPO opens on October 18 and closes on October 23.
After the IPO, the promoter`s stake in the company will get diluted by 44%.
Rathi Bars had reported net profit of Rs 60.8 million on a turnover of Rs 1,940 million for the fiscal ended Mar. 31, 2007.
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