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Emmbi Polyarns plans IPO on February 1

Thursday, January 28, 2010
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Mumbai: Emmbi Polyarns, a polymer processing firm is all set to enter the capital markets with an initial public offering (IPO) of 95,74,000 equity shares of Rs.10 each on February 1, 2010, reports moneycontrol.com. The company decided to reserve 50,000 equity shares in the issue for subscription by eligible employees. The price band has been fixed at Rs.40 to Rs.45 per equity share and the issue will close on February 3. Through this issue, the company planned to raise funds for expansion in the present facility to increase the present installed capacity from 5,000 MTPA to 17,800 MTPA and working capital requirements. Keynote Corporate Services is the book running lead manager to the issue, whereas Datamatics Financial Services is the registrar. The company is engaged in manufacture, selling of FIBC (Jumbo Bags), Woven Sacks and various woven polymer based products like Container Liners, Protective irrigation system, Canal Liners, Flexi Tanks, Car covers. Its manufacturing facility is located at Silvassa, the capital of the Indian Union Territory of Dadra and Nagar Haveli.
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