What is the price band of Resurgere Mines & Minerals IPO?
The shares of Resurgere Mines & Minerals IPO are priced in the price band of Rs. 263 to Rs 272 per share. The shares have a face value of Rs. 10 each.
What are the IPO dates for Resurgere Mines & Minerals IPO?
The Resurgere Mines & Minerals IPO will open on date 11th August 2008 and the book building process will complete on 13th August 2008.
How many shares will be sold through the Resurgere Mines & Minerals IPO?
A total of 4,450,000 equity shares will be sold through the Resurgere Mines & Minerals IPO. There is a portion reserved for employees - 250,000 shares. So the net offer to the public is 4,200,000 shares. The net issue would constitute 14.72 per cent of the post issue paid-up capital.
What are the business valuations and market outlook for Resurgere Mines & Minerals IPO?
Resurgere Mines & Minerals India Limited (Formerly Exfin Shipping (India) Ltd.) is presently engaged in the business of extraction and processing of iron ore products ie lump ore and size ore, and is predominantly a manufacturer of calibrated lump ore (CLO) and Iron Ore Fines. The company is also engaged into merchant export of iron ore fines to China. The company is a member of CAPEXIL, FIEO and FIMI and is a recognized STAR TRADING HOUSE.
At present, the Company has run-of-mines contracts for two mines situated at Nuagaon and Maharajpur in state of Orissa.
Resurgere Mines and Minerals India Limited professes the following corporate objectives: “Providing quality products for domestic and foreign clients; securing generous returns for company shareholders; creating development opportunities for employees; and moving forward hand in hand with business partners”.
Where will the capital raised from the Resurgere Mines & Minerals IPO be used?
The fund raised from Resurgere Mines & Minerals IPO will be used to to part finance the purchase of plant and machinery for setting up its own extraction and crushing facilities at the mines and purchase of six railway rakes to set up own logistics infrastructure facilities, besides meeting working capital needs.
What is the existing share holding pattern for Resurgere Mines & Minerals IPO?
As of date, Merrill Lynch International holds 3,000,000 shares, India Business Excellence Fund-I holds 910,000 equity shares, IL&FS Trust Co. holds 402,500 shares, Motilal Oswal holds 250,000 shares and Raamdeo Agarwal holds 200,000 Shares in the company.
Motilal Oswal is the BRLM book running lead manager and PL Capital Markets and Ashika Capital are the Co-BRLMs. The shares will be listed on BSE and NSE.
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