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Issue Open Date
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05-Aug-10
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Issue Closing Date
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10-Aug-10
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Application Money
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100
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Allotment Money
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Price Band
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100
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110
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Minimium Application No.
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60
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Issue Size (Shares)
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6250039
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Market Lot
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1
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Objective
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The Objects of the Issue is to raise resources to finance:1. Expansion of existing manufacturing facility at Umbergaon, Gujarat2. Meet the additional working capital requirement3. General corporate purpose4. Meet the issue expenses and5. List the equity shares of the company on the stock exchanges.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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922500
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10066800
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10.9125203252033
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Qualified Institutional Buyers
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3075000
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3902220
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1.26901463414634
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Retail Individual Investors
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3075000
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3902220
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1.26901463414634
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Business Description:
Prakash Steelage Limited (‘PSL’) was incorporated on 09/05/1991 vide Certificate of Incorporation no. 11-61595 of1991 issued by the Registrar of Companies, Maharashtra. PSL is a flagship company of Prakash Group. We areengaged in the manufacturing of seamless & welded stainless steel Pipes, Tubes and U-tubes. We carry ourproduction through our two state-of- the-art production units situated at Silvasa and Umbergaon (Gujarat) withtotal installed production capacity of 12200 MTPA.We are an ISO 9001: 2008 & PED certified Company. We are also a “Govt. Recognized Star Export House” exportingto several MNC’s into more than 40 countries across the Globe. To meet the increasing demand, we propose abackward integration cum expansion of manufacturing facilities at our existing unit in Umbergaon.We started with a capacity of 4,000 MTPA in the year 1996, increased our capacity to 12,200 MTPA in the year 2007by setting up our new state of the art plant in Umbergaon. Going ahead further we have also added another 3,400MTPA making the total to 15,600 MTPA out of the proposed expansion plan.Competitive StrengthsWe are into the business of manufacturing stainless steel welded & seamless pipes and tubes. We are an ISO 9001-2008 certified Company, with a legacy of over 19 years of presence in the industry. We believe that following areour principal competitive strengths:-1. Strong management Team: Our Company is managed by a team of professionals led by the Chairman &Managing Director Mr. Prakash C. Kanugo. The promoter and the senior management team of our Companyhave significant industry experience and have been instrumental in the consistent growth of the Company’sincome and operations.2. Relationship with established players in industry: Our customer base includes a diverse set of industriesincluding Oil & Gas, Power, Pharmaceutical, Petrochemical, Sugar, Dairy, Automobile etc. Our products havefound wide acceptance in the markets of North America, South East Asia, Africa, Middle-East and Europe. Weenjoy credible relationship with Bharat Heavy Electrical Ltd., Essar Heavy Engineering Services Ltd., SiemensLtd., Profins Ltd (UK), Sole A/S (Eggedal). The Company is well poised to benefit from this strong relationshipwith the industry players enabling the Company to provide better services to its customers.3. Multiple products: The Company manufactures a wide range of products based on the customer specifications.This allows the Company to cater to the diverse demands of its customers and to consolidate and establish itspresence across regions.4. New Products in pipeline: The Company plans to foray into Duplex, Super Duplex and Super Austenitic pipes/ tubes (these are kind of pipes/ tubes distinguished on the basis of the materials used in it).5. Selling and Distribution network: We have gradually developed our selling and distribution network over aperiod of time. We have successfully developed an extensive clientele in sectors such as : Oil & Gas, Power,Pharmaceutical, Petrochemical, Sugar, Dairy, Automobile etc. We have developed our marketing network invarious cities such as Ahmedabad, Delhi, Hyderabad, Chennai, Mumbai by appointing marketing personnel in the respective areas/states who are on the permenant rolls of the Company. The marketing team caters to theclients with timely delivery of products.6. Locational Advantages: We have both our units situated at Silvasa and Umbergaon (Gujarat) which is wellconnected by road and rail and is in close proximity to JNPT port. This facilitates efficient movement of rawmaterials and finished products. Our location also helps us to service wide array of customers.
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Promoter's Holding
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Total Share Capital
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11250000
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Offered to Public
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6250000
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Promoter's Holding (Pre-Issue)
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100
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Promoter's Holding (Post-Issue)
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64.29
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Address |
101
Shatrunjay Apartment
1st Floor
28
Sindhi Lane
Nanubhai Desai Road
Mumbai
,
Maharashtra
,
400004
Phone :
022 66134500
Email :
info@prakashsteelage.com
Website :
www.prakashsteelage.com
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Registrar |
Bigshare Services Pvt Ltd
G 10 Left Wing Amruta Village
Opp: Yashoda Hospital
Raj Bhavan Road
Somajiguda
Hyderabad
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Listed at |
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BSE, NSE
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Lead Manager |
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Keynote Corporate Services Ltd
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Promoters |
Ashok M. Seth
Prakash C. Kanugo
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