Aksh Optifibre Limited |
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- Issue Opens : 18th July 2000
- Bid Price: Lower Limit of Rs.60/- per share
(FV- Rs.5/-)
- Issue Size: 14,90,000 shares amounting to
Rs.8.94 crore
- Registrars to the Issue: MCS Ltd.
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- Issue Closes: 20th July 2000
- Minimum Application: 50 shares @ Rs.60/-
each
- Post-issue promoter’s stake: 27.02%
- Lead Managers: Anand Rathi Securities Pvt.
Ltd.
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Listing on: Jaipur,
Mumbai and National Stock Exchanges |
- Issue proceeds will be used to expand the optical
fibre business and to integrate backwards in Quartz Preforms.
- Project cost estimated at Rs.4124 lakhs. Appraised by ICICI
Ltd., which has extended a term loan of Rs.687 lakhs.
- Dr. Kailash S. Choudhari is the sole promoter.
- Has the largest capacity of OPC manufacture in India.
- Recorded net losses during the period FY97-FY99.
- Sold the PVC division to Icon Cables Ltd. for Rs.350.81
lakhs in 1999.
Has the Type Approval Certificate, which is required for
supplying cables to the Department of Telecommunication Services (DOT).
- Exports cables to western markets, U.K., Indonesia and
Thailand.
- Merger agreement with Telecords (India) Private Limited
(TIPL), which manufactures FRP Rods.
- NRIs can apply on a non-repatriable basis.
- Issue price is high though the company is fundamentally
strong.
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