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Wednesday, May 17, 2006

Zenith Birla files draft for Rs 131cr

Steel pipe manufacturer Zenith Birla (India) has filed its draft prospectus with the market, for a public isuue of Rs 131 crore (Rs 1.31 billion), reports The Economic Times.

Zenith is raising funds primarily to set up additional facilities for manufacture of mechanical tubes for application in the auto components sector and also for augmenting the working capital requirement for its existing operations, it said in a release on Monday.

IDBI Capital Market Services and Keynote Corporate Service are the lead mangers of the issue.

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