Gemini Engi-Fab IPO opens on Feb 3

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Gemini Engi-Fab is engaged in manufacturing and salvaging of process equipments through fabrication for various process industries namely, cement, dairy, refinery, pharmaceutical, petrochemical, power and chemical. Fabrication is building of machines, structures, or process equipment as required, by cutting, shaping and assembling components made from raw materials.

The company is an ISO 9001: 2000 certified company. In the year 2003, this certificate was awarded to design, manufacture and supply fabricated process equipments for food, dairy, cement, refinery, nuclear power projects, power projects & chemical projects on turnkey & salvaging basis.

The company proposes a public issue of 55 lakh equity shares of Rs 10 each for cash, which would constitute 46.40% of the fully diluted post issue paid-up capital of the company. 

The issue will open on February 3, 2009 and close on February 6, 2009, with a price band of Rs 75 to Rs 80 per equity share.

The company will be raising around Rs 41.25-44 crore from this issue and will be using for setting up of a manufacturing workshop a Umbergaon, Gujarat.

CARE has assigned IPO grade 2 to this issue. Equity shares will be listed on the BSE and NSE.

Book running lead manager to the issue is Almondz Global Securities Limited and Karvy Computershare Private Limited is the registrar to the issue.