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Gokul Refoils And Solvent announces its forth IPO
By siliconindia
Bangalore: Gokul Refoils And Solvent, a Gujarat based company engaged in the business of solvent extraction, refining of Edible oils and Vanaspati manufacturing, has announced its forthcoming Initial Public Offer (IPO) of 71,58,392 equity shares of Rs 10 each for cash at a price band of Rs 175 to Rs 195. The net issue to the public comprises of 70, 83,392 equity shares and 75,000 equity shares have been reserved for the employees. The issue will constitute 27.14 percent of the fully diluted post issue paid up equity share capital of the company. The face value of equity shares of is 
10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value. The company intends to raise 139.59 crores at the cap price of the price band. The 100 percent Book Build Issue Opens on Thursday May 8 and Closes on Tuesday May13.
The capital raised from the issue will be deployed to set up a new 1500 TPD Soyabean processing plant near Gandhidham, to expand its existing edible oil refinery at Surat from 100 TPD to 400TPD, to invest in its wholly owned Singapore based subsidiary, and to invest in increasing warehousing capacities and ongoing Capex for existing units.
ICRA has assigned an ICRA IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offering of Gokul Refoils And Solvent Limited. The Book Running Lead Managers to the Issue are Anand Rathi Financial Services and Intensive Fiscal Services.
10, floor price is 17.5 times of the face value and the cap price is 19.5 times of the face value. The company intends to raise 139.59 crores at the cap price of the price band. The 100 percent Book Build Issue Opens on Thursday May 8 and Closes on Tuesday May13.
The capital raised from the issue will be deployed to set up a new 1500 TPD Soyabean processing plant near Gandhidham, to expand its existing edible oil refinery at Surat from 100 TPD to 400TPD, to invest in its wholly owned Singapore based subsidiary, and to invest in increasing warehousing capacities and ongoing Capex for existing units.
ICRA has assigned an ICRA IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offering of Gokul Refoils And Solvent Limited. The Book Running Lead Managers to the Issue are Anand Rathi Financial Services and Intensive Fiscal Services.