Date:28/11/2006 URL: http://www.thehindubusinessline.com/2006/11/28/stories/2006112804601500.htm

Back Nissan Copper to come out with IPO of Rs 25 cr

Our Bureau

Price band fixed at Rs 33-Rs 39 a share

MINING NEW AREAS: Mr Shantilal Mardia (left), Chairman, Nissan Copper Ltd, with Mr Ratanlal Mardia, MD, at a press conference held in Mumbai on Monday - Paul Noronha

Mumbai , Nov. 27

Nissan Copper Ltd is entering the capital marketwith an initial public offering of around Rs 25 crore.

The price band has been fixed between Rs 33 and Rs 39 per equity share.

The funds raised are for the expansion of the company's copper product manufacturing capacities.

The total cost of the project is Rs 35 crore of which Rs 10 crore is part-funded by State Bank of India by way of a term loan.

Fifty per cent of the net public issue shall be allocated to qualified institutional buyers, not less than 15 per cent to non-institutional bidders and not less than 35 per cent to the public.

Of the total offer, 10 per cent is reserved for the employees of the company.

The equity shares of the company are proposed to be listed on the Bombay Stock exchange and the National Stock Exchange.