NCML Industries fixes price band at Rs 100 to Rs 120 for IPO

NCML Industries Ltd, the flagship company of Delhi-based NCML Group proposes to enter the capital markets with an offer for sale of 60,00,000 equity shares by existing shareholders.

The offer through book building process opens on December 29 and closes on January 2.

The company has fixed price band at Rs 100 to Rs 120 per equity share of Rs 10 each. The offer will constitute 25.48% of the post offer paid up equity share capital of the company, a statement issued here said today.

NCML Ltd is engaged in the business of importing, manufacturing and marketing of edible oil in India with international presence. It deals in various edible oils.

During FY 2013-14, the company expanded its installed capacity by 250 TPD (tonnes per day), thus making a total installed capacity of the refinery unit to 600 TPD. The additional capacity of 250 TPD got operational during the last week of the Q3 of FY 2013-14.

It now plans to foray into newer markets and increase customer base and is planning to set up manufacturing facilities in strategic locations to increase its presence in new markets.

As on June 30, 2014, the company had 2 distributors in Himachal Pradesh, 30 distributors in Punjab region, 30 distributors in Haryana and 2 distributors in Jammu & Kashmir.

The equity shares are proposed to be listed on the BSE and NSE.