SME: Polymac Thermoformers IPO to open on Feb 06

West Bengal-based Polymac Thermoformers has come out with its public issue of 22 lakh equity shares for cash at a price of Rs 35 per share aggregating to Rs 7.70 crore.

The issue will be available for the subscription during February 06-10, 2014. The equity shares offered through the prospectus are proposed to be listed on the BSE SME Platform.

The company is engaged in to manufacturing operations. Manufactures disposable plastic glasses, cups, and bowls etc. These are fast replacing conventional glasses, cups etc. and are manufactured by thermoforming technique.

The fund raised through this issue will be utilized for the capital expenditure on existing manufacturing capacity, to meet the margin for working capital requirement and for brand building & general corporate purposes.