RDB Rasayans IPO to Open on Sep 21

Tuesday, September 20, 2011
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Mumbai: Packaging material manufacturer RDB Rasayans is entering capital market with a public issue of 45 lakh equity shares on September 21 and has fixed a price band for the issue at Rs. 72-79 per equity share. The company aims to raise around Rs. 32.4-35.55 crore through the issue, which will close on September 23. The issue would constitute 25.40 per cent of the fully diluted post issue paid up capital of the company, RDB Rasayans said in a statement. The company proposes to utilise the net proceeds of the issue to finance the capital expenditure to enhance its production facilities, and meeting general corporate purposes. Chartered Capital And Investment Limited is the sole book running lead manager for the issue. RDB Rasayans is engaged in the manufacturing of packaging material such as PP Tape, PP woven sacks, woven fabrics, industrial woven fabric, PP woven fabrics and PP woven bags.
Source: PTI
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