Sanco Industries files IPO papers with SEBI
Sanco Industries plans a public issue of 75 lakh equity shares having a face value of Rs 10 each. It has filed draft red herring prospectus with the market regulator SEBI.
January 29, 2011 / 14:08 IST
Sanco Industries plans a public issue of 75 lakh equity shares having a face value of Rs 10 each. It has filed draft red herring prospectus with the market regulator SEBI.
Polyvinyl chloride (PVC) manufacturer Sanco Industries plans a public issue of 75 lakh equity shares having a face value of Rs 10 each. It has filed draft red herring prospectus with the market regulator SEBI.The issue will constitute 55.55% of the post-issue paid-up equity share capital of company.Sanco Industries is in business of manufacturing of rigid plain PVC electrical conduit pipes & profiles, PVC insulated wire & cables and PVC/PPR plumbing pipe. The products are used in high class indoor and outdoor electrical installations and telecom wiring applications while PVC/PPR plumbing pipe is used in sewage, drainage, cable ducting, bore well and water supply in rural and urban areas.Company intends to use issue proceeds for expansion of existing manufacturing capacity; setting up manufacturing facilities for copper wire rod and long term working capital requirements. Total estimated fund requirement stands at Rs 33.45 crore.For the period of six months ended on September 2010, company reported a net profit of Rs 1.7 crore on total income of Rs 26.48 crore. For financial year 2009-10, it had posted net profit of Rs 1.74 crore crore on total income of Rs 36.4 crore. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
