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Issue Open Date
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NA
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Issue Closing Date
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NA
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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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-
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Minimium Application No.
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Issue Size (Shares)
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10000000
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Market Lot
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Objective
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In order to expand our business operations, we are implementing the following:a) Setting up of seafoods processing facility near JNPT, District Raigad, Maharashtrab) Expansion of existing facility at Veraval, District Junagarh, Gujaratc) Meeting working capital requirementsd) General Corporate Purposese) Issue Expenses
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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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Qualified Institutional Buyers
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Retail Individual Investors
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Business Description:
Our Company is engaged in the processing of a variety of marine / seafoods which lead to basic,semi finished and finished products. The seafood processing primarily involves washing, cleaning,assortment of various qualities, grading and freezing. The products are preserved, packed and thenexported. We process range of seafood such as crustaceans, molluscs, scrombroides and nonscrombroidesas a part of our product basket.We carry out processing activities at our facility situated at Veraval, District Junagarh, Saurashtraregion in the State of Gujarat. The Marine Products Export Development Authority (MPEDA),under Ministry of Commerce & Industry, Government of India has approved total freezingcapacity of 171 tonnes per day with coldstorage facility of 2529 MT. In addition, MPEDA have alsoapproved capacity for peeling as 22.5 MT per shift. At present we have seven coldstorages with astock holding capacity of 2529 metric tons. Further we plan to set up additional coldstorage facilitywith 5,000 metric tons of stock holding capacity at our proposed facilities near JNPT, DistrictRaigad, Maharashtra.Our processing facility is EU approved which requires maintenance of adequate infrastructure andquality standards in respect of hygiene and food safety as set by the European Commission. ExportInspection Council of India, New Delhi (Ministry of Commerce & Industry, Government of India)is a competent authority to assess and grant such approvals for two years and its renewal. Ourfacility enjoys the compliance under HACCP guidelines for hygiene and food safety and ISO9001:2000 by CGAS QC Pvt. Ltd. for its product operations.We sell our products under various brands namely “Chirag”, “Alps”, “Roma” and “AceLine”. Wehave launched these brands as part of our marketing strategy to target different segment indifferent regions and over a period of time, these brands have established their presence in variousmarkets. These brands also enable us to focus our strategies and efforts based on competition in therespective markets. We are currently exporting our products majorily to Europe, East Asia,Middle & Far East, China and USA. The total exports constituted 92.59%, 95.39% and 89.48% oftotal sales during FY 2006, 2007 and FY 2008 respectively.In February, 2005, we have received the MPEDA (Ministry of Commerce and Industry,Government of India) Award 2003-04 for highest export performance under Category VI(C) – newmarket and in February, 2006 MPEDA Export award 2004-05 for highest performance (2nd position)in frozen finfish.Our total income has increased from Rs. 4025.32 lakhs in FY 2005 to Rs. 5160.59 lakhs during FY2006; Rs. 5999.35 lakhs during FY 2007 and Rs. 10506.74 lakhs during FY 2008 showing an increaseof 28.20%, 16.25% and 75.13% during FY 2006, 2007 and 2008 respectively.
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Promoter's Holding
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Total Share Capital
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11797165
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Offered to Public
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10000000
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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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54.12
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Address |
140- K
Cavel Cross Lane No. 7
Kalbadevi Road
Mumbai
,
Maharashtra
,
400002
Phone :
91-22-40335555
Email :
vipulipo@gmail.com
Website :
www.vipulimpex.com
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Registrar |
K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)
105-108
Arunachal Building
19
Barakhamba Road
New Delhi
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Listed at |
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BSE, NSE
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Lead Manager |
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Almondz Global Securities Ltd
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Promoters |
Asha Agarwal
Kapil Agarwal
Krishangopal Agarwal
Vipul Agarwal
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