Ess Dee Aluminium Limited (EDAL), an integrated pharmaceutical packaging solutions provider, is entering the capital market with an issue of 69,60,000 equity shares of Rs10 each for cash at a premium to be decided through a 100 per cent book building process. | |
| The company has reserved 1,50,000 equity shares for allotment to eligible employees, thus the net issue to public stands at 68,10, 000 equity shares. The net issue to public will constitute 25.79 per cent of the post issue fully diluted equity capital. |
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| The price band for the issue has been fixed between Rs 200 and Rs 225 per share. Issue opens for subscriptions on December 4 and closes on December 8, 2006. |
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| EDAL is currently engaged in the business of cold rolling of aluminium foil stock to aluminium foil, which is further converted into printers stock through the process of lamination for strip pack or coating for blister pack. |
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| The company also manufactures thermoforming poly vinyl chloride films (Rigid PVC films) as well as PVdC coated PVC barrier thermoforming films for blister packaging. |
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| EDAL's wholly owned subsidiary, Flex Art Foil Private Limited, is engaged in subsequent conversion of printers stock to customised size and printing of proprietary designs. |
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| EDAL provides end-to-end packaging solutions to the pharmaceutical sector and continuously strives to cater to the ever-growing needs of this sector, worldwide. |
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| The company currently operates from two units, one at Daman and another at Goa. |
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| The wholly owned subsidiary Flex Art Foil Private Limited (FAFPL) has four units across the country located in close proximity to the pharmaceutical manufacturing hubs that help the company in meeting location-specific customer requirements. |
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| Sudip Datta, chairman and managing director of the company, announcing the details of the initial public issue at a press conference here today said "We have drawn up plans to set up a new unit "" Unit III at Daman for the manufacture of aluminium foil based packaging products to enhance our product portfolio and extend our industry reach." |
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| The new expansion project at Daman estimated to involve a capital outlay of Rs 11,479.08 lakh, which is to be funded from the proceeds of the IPO, internal accruals and funds raised through issue of equity shares. |
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| The expansion project will increase the company's aluminium foil rolling capacity from 3600 MTPA to 18,000 MTPA. |
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