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| PRODUCT NOTE |
| Pradip Overseas Ltd. |
| OPENS ON : 11/03/2010 |
CLOSES ON :15/03/2010 |
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| Company Details: |
- .Pradip Overseas Limited manufactures and exports textile products in India. It focuses on home linen products. Pradip Overseas Limited was founded in 1980 and is based in Ahmedabad, India.
- The company’s products include home textile articles, such as cotton sheeting, flannel, polyester cotton and polyester satin, jacquard, stripes, quilts, micro, seersucker, curtains, cushions, readymades, and towels.
- Company sale its products in domestic market as well as more than twenty countries around the world.The Company has its own stitching unit equipped with latest Japanese machines with the capacity to stitch / deliver 3, 00,000 Sets a month.
- POL’s current manufacturing capacity is 136.50 million metres per annum with an average capacity utilization of 92%. The Company’s existing facility is located at Changodar near Ahmedabad in Gujarat.
- POL is enhancing its capacities to 169.50 million metres per annum in order to meet the expanding demand and further consolidate its position in the home linen market.
- For the year 2007-08 the company recorded a turnover of Rs 658 crore of which nearly 15 per cent came from exports. With the launch of the new retail brand, the company is looking at a turnover of close to Rs 1000 crore of which 30-35 per cent is expected to be from exports.
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| IPO GRADING |
| ICRA has assigned an IPO Grade 2 to the proposed IPO of Pradip Overseas Limited |
| Issue Details: |
| Issue Size |
: |
10,600,000 equity shares |
| Face value |
: |
Rs 10/- per equity share |
| Price band |
: |
Rs100 - Rs.110 |
| Lot Size |
: |
60 Equity shares |
| Exchanges |
: |
NSE & BSE |
| Issue Type |
: |
100% Book Built issue IPO |
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| Book Running Lead Manager : |
- Anand Rathi Securities Ltd.
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| Registrar of the issue- |
- Link In time India Pvt. Ltd.
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| ISSUE STRUCTURE |
| S. No. |
Main Category |
No of equity shares reserved for the main category |
| 1. |
QIB |
50 50,000 Equity Shares |
| 2. |
Non Institutional |
15,15,000 Equity Shares |
| 3. |
Retail |
35,35,000 Equity Shares |
| 4. |
Employee |
5, 00,000 Equity Shares. |
| Total Issue Size |
1+2+3+4 |
1,06,00,000 Equity shares |
| Objects of the Issue |
| The objects of the issue are toTo part finance the setting up the Proposed Manufacturing Facility within the Proposed Textile
SEZ;
To part finance the incremental margin money requirement for working capital; To meet Issue expenses |
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