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Wednesday, March 19, 2008

20 Microns files DRHP with SEBI

20 Microns, one of the pioneers in the micronised minerals and trend setter in the market for usage of ultrafine minerals ranging from 20 microns to 2 microns particle size for Paints & Plastic Industries, has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market soon with an initial public pffering (IPO) of 94,25,632 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

Upto 4,71,282 equity shares will be reserved for subscription by eligible employees. The issue will constitute 49.10% of the post issue paid up capital of the company.

The issue comprises a net issue to public of 67,50,000 equity shares of Rs 10 each and an offer for sale of 26,75,632 equity shares by Gujarat Venture Capital fund 1995 (the Selling Shareholders). The equity shares are proposed to be listed on Bombay Stock Exchange and National Stock Exchange.

The book running lead manager is Keynote Corporate Services Limited.

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