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Aug 24, 2012, 06.59 PM IST | Source: Moneycontrol.com

Comfort Commotrade IPO to open on September 5

Comfort Commotrade, which engaged in the business of commodity broking, is entering capital market with a public issue 60 lakh equity shares at a price of Rs 10 each on September 5, 2012.

Comfort Commotrade , which engaged in the business of commodity broking, is entering capital market with a public issue 60 lakh equity shares at a price of Rs 10 each on September 5, 2012.

The company is set to raise Rs 6 crore through the issue, which will close for subscription on September 10.

Minimum bids can be made for 10,000 equity shares and in multiples of 10,000 shares thereafter.

It is the member of MCX and NCDEX. It offers trading in many commodities such as bullion (gold, silver), energy (crude oil, natural gas), metals, food grains (rice, maize), spices, oil and oil seeds and others.

The company intends to use issue proceeds for expanding business operations, enhancement of margin money maintained with the exchanges and general corporate purpose.

Comfort Commotrade has reported a net profit of Rs 17.15 lakh on total income of Rs 61.51 lakh in the year ended March 2012, a significant jump over previous year.

VC Corporate Advisors Pvt Ltd is the book running lead manager to the issue.

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