Bombay Rayon Fashions Ltd (BRFL) will enter the capital market with an initial public offer of 1,34,75,000 equity shares of Rs 10 each for cash by the book building route on the 11th of this month.
Price band for the issue is Rs 60 to Rs 70 per equity share.
The issue would comprise 27.51 percent of the post issue paid-up capital of the company. UTI Bank Ltd and Anand Rathi Securities Pvt Ltd are book lead managers to the issue; the registrar is Intime Spectrum Registry Ltd.
The IPO will close on November 17, informed Prashant Agrawal, BRFL Managing Director.
Agrawal also added that the capital is being accrued to invest in its new project with integrated facility of yarn dyeing, weaving process house and garment production at the Apparel Park, Doddaballapur, Banglore.
Manufacturing capacity of this combined textile unit will be 2000 kg yarn dyeing per day, 48 looms for weaving, 93999 metre processing per day and 22000 pieces of garment per day.
Comprehensive techno-economic feasibility report has been prepared by M/s Gherzi Eastern Ltd and estimates Rs 161.72 as the total project cost. The project is under implementation and is slated to be on steam by March 2006.
Bombay Rayon Fashions Ltd
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