MUMBAI: Austral Coke & Projects Ltd’s 72,60,000 equity share offering will open for public subscription on August 7. The IPO will also have a green shoe option of 10,89,000 Shares. The company has priced the Rs 10 shares in the band of Rs 164 to Rs 196. The issue closes on Aug 13.
Austral Coke is mainly manufactures low ash metallurgical coke. It is also in the business of equipment rental, refractory and textile trading. The company plans to use the IPO proceeds to finance its expansion. It is planning a 150,000 tonne per annum LAM coke unit and an 8 mw captive power plant through waste heat recovery. The project is coming up at Sindhudurg in Maharashtra.
The company also plans to utilize the funds for acquiring coal mines either in Indian or abroad and retire high cost debt.
Austral Coke has concluded pre-IPO placement of 27,40,000 shares to Somerset India Fund at Rs 196 per share, aggregating to Rs 53.70 crore.
CARE has assigned IPO Grade 2 to the issue, which is being lead managed by Allbank Finance.
Avdhoot Investment
Aug 1, 2008
Reliance Capital Results - Announces Qtr Ending June 2008-2009 results
Reliance Capital rose 8.07% to Rs 326.85 crore in Qtr ending June 2008 for the financial year 2008-2009 compared to Rs 302.43 crore in qtr ending june2007. Sales rose 52.28% to Rs 780.40 crore in Qtr ending June 2008 for the financial year 2008-2009 compared to Rs 512.47 crore in qtr ending june2007.Avdhoot Investment
Voice of India Ishmeet Singh drowns in Maldives
E'Voice of India' singing contest winner Ishmeet Singh Tuesday died under mysterious circumstances by "drowning" in a swimming pool in Male, the capital of the Maldives.
The 19-year-old singer hailing from a middle-class of this industrial city of Punjab had gone to Maldives for a promotional event with the music company with which he had a contract.
Relatives at his residence here said the family was informed telephonically by the music company officials that Ishmeet died while swimming in a hotel pool in the Maldives.
"We are too shocked to react. We have no other information so far," a shocked relative told IANS here while confirming the tragic news.
Relatives, friends and admirers of the singer made a beeline to his house even as his shocked parents tried to come to terms with the untimely tragedy. A pall of gloom descended on the locality.
The singer left here Tuesday morning for Maldives from Mumbai.
Ishmeet had Nov 26 last year won the 'Voice of India' singing contest, pipping his closest rival Harshit from Uttar Pradesh in a keen contest. He was given the winner's trophy by melody queen Lata Mangeshkar.
Supporters of the singer voted heavily for him from Punjab during the finals of the contest. Even though Harshit led the votes tally in most regions of the country, the final count went in Ishmeet's favour due to heavy voting from Punjab.
"He was like a brother to me. I cannot even comment on what has happened. I cannot believe that he is no longer with us," fellow contestant Harshit told a TV news channel. Avdhoot Investment
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