*Rushil Decor Limited* has filed a DRHP with SEBI to raise funds through an initial public offering.
The company will have a fresh issue of 5.4 mn equity shares where as the promoters will sell around 2.4 mn shares. The net issue will constitute 37.50 % of the post Issue paid-up capital of the company. *Corporate Strategic Allianz* and *IndBank Merchange Banking Services* have been appointed as the lead managers to the issue. The company plans to use the funds to part finance the setting up of Medium Density Fibre Board (MDF) plant in Karnataka. Transaction Note Rushil Decor Limited is a part of the Rushil Group. The company is a manufacturer and sells decorative lamination under the brand 'Vir Lamination'. Rushil Decor, incorporated in 1993, is promoted by Ghanshyamlal Thakkar & family. The promoter group's stake in the company pre-ipo is 88% which will reduce to 55% after the issue. As on 30 September 2009, the company's net worth stood at Rs23 cr. It reported a netprofit of Rs2 cr on a turnover of Rs45 cr. Decorative Laminates are used for surfacing material for paneling, partitioning, table tops and work surfaces. The industry is a high unorganized one with a few players in the organized space. Other companies in the industry are Archidply Industries Limited, Century Laminating Company Limited, Greenply Industries Limited among others. -- 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.
