*Gyscoal Alloys Ltd* is planning to raise funds through IPO by diluting 48.65% stake of the fully diluted post issue paid up capital.
The issue will comprise of 7.7mn equity shares of face value of Rs 10 each. The company plans to utilize the funds to finance the capital expenditure for enhancing the production capctiy of melting section by 100,000 MT p.a (Rs 53.4cr), meet its long term capital requirements (Rs 5cr) and for general corporate purposes. * Chartered Capital and Investment Limited* has been appointed as the lead manager to the issue. Gyscoal Alloys Ltd, incorporated in 1999, is in the business of trading iron and steel scraps, billets and steel long products. The company took over a steel rolling mill business with a capacity of 6000 MT p.a. from Shah Alloys Group at Ubkhal, Mehsana and started manufacturing of rolled products in 2005. Gyscoal Alloys is promoted by Viral Shah. The company posted a profit of Rs 178.86 lakhs and had a net worth of Rs 22.69cr as on March 31, 2009 It is in the process of expanding its present steel manufacturing capabilities by way of setting up a steel melting shop with additional installed capacity of 100,000 MT per annum. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
