Purohit Steel India Ltd - IPO

Purohit Steel India Ltd IPO Details

Initial public offer of upto 38,40,000 equity shares of face value of Rs.10/- each (the equity shares) of Purohit Steel India Limited (the company or PSIL or the issuer) at an issue price of Rs.[*] per equity share for cash, aggregating up to Rs.[*] crores(public issue) out of which [*] equity shares of face value of Rs.10 each, at an issue price of Rs.[*] per equity share for cash, aggregating Rs.[*] crores will be reserved for subscription by the market maker to the issue (the market maker reservation portion). The public issue less market maker reservation portion i.e. issue of [*] equity shares of face value of Rs.10 each, at an issue price of Rs.[*] per equity share for cash, aggregating upto Rs.[*] crores is herein after referred to as the net issue. the public issue and net issue will constitute [*]% and [*]% respectively of the post-issue paid-up equity share capital of the company. The company in consultation with the book running lead manager, may consider a pre-ipo placement of up to 2,88,000 equity shares for cash consideration (pre-ipo placement) prior to filing of the red herring prospectus with the roc. The pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the book running lead manager. if the pre-ipo placement is undertaken, the number of equity shares issued pursuant to the pre-ipo placement shall be reduced from the issue, subject to compliance with rule 19(2)(b) of the securities contracts (regulation) rules, 1957, as amended (scrr). The price band and the minimum bid lot will be decided by the company in consultation with the brlm.

Objective of issue

Funding of capital expenditure towards setup of new processing facility. Funding working capital requirements of the company. General corporate purposes.

Purohit Steel India Ltd Contact Details

Purohit Steel India Ltd, Office No 56-2, Pinnacle Busine.Park, Mahakali Caves Road, Mumbai - 400093

Phone - 91-22-62638200

Fax - 91-22-63638299

Email - info@purohitsteels.com

Website - www.purohitsteels.com