Published on Mon, Feb 20, 2012 at 17:39 | Source : Moneycontrol.com
Updated at Tue, Feb 21, 2012 at 09:02
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Altret Bio-tech files DRHP for Rs 27-cr IPO
Altret Bio-tech, which engaged in cultivation of jatropha curcas plants, has filed draft red herring prospectus with SEBI for an initial public offering of Rs 27 crore.
Altret Bio-tech, which engaged in cultivation of jatropha curcas plants, has filed draft red herring prospectus with SEBI for an initial public offering of Rs 27 crore.
The seeds developed from jatropha curcas plants are supplied to farmers in the vicinity of plantation.
Jatropha Curcas is a small tree or shrub. Normally, it grows between three and five meters in height. The seeds become mature when the capsule changes from green to yellow, after two to four months from fertilization. These seeds have an oil content of approximately 37%. Jatropha oil is a non edible vegetable oil utilized for production of soap and used as lamp fuel and fuel in special diesel engines etc.
Company intends to use issue proceeds for setting up jatropha & neem seed oil extraction & solvent extraction plant (with an outlay of Rs 11.90 crore); setting up bio-fertilizers & bio-pesticides plant (with cost of Rs 4.787 crore); and working capital requirements (Rs 5 crore).
Altret Bio-tech reported net profit after tax of Rs 18.74 lakh on total income of Rs 56.30 lakh for the period of six months ended on September 30, 2011 and profit after tax of Rs 21.39 lakh on total income of Rs 78.03 crore for FY11.
Comfort Securities Limited is the book running lead manager to the issue.
