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Friday, February 17, 2006

MSPL files DRHP with Sebi

MSPL, flagship company of the Baldota Group, has filed its draft red herring prospectus, DRHP, with the Securities & Exchange Board of India, Sebi, for a public offer of 1,33,56,522 equity shares of Rs 5 each through offer for sale for cash at a premium to be decided through a book-building process, according to a release.

In addition, the offer also includes a greenshoe option of 20,03,478 equity shares of Rs 5 each to be issued for cash at a premium.

The offer for sale of shares is by the Baldota family and constitutes 17.39% of the fully diluted post offer equity capital.

If the green shoe option is exercised in full, the offer to public would constitute 20% of the fully diluted post offer equity capital.

The book running lead manager to the issue is DSP Merrill Lynch and the senior co-book running lead manager is Kotak Mahindra Capital Company.

MSPL is one of the leading iron ore mining, processing and exporting companies in India and is over four decades old.

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