Mehta Hitech Industries Ltd - IPO

Mehta Hitech Industries Ltd IPO Details

Initial public offering of up to 6,200,000 equity shares of face value of Rs.10/- each (equity shares) of Mehta Hitech Industries Limited (the company) for cash at a price of Rs.[*] per equity share (including a share premium of Rs. [*] per equity share) (issue price) aggregating up to Rs. [*] crores (the issue).The company, in consultation with the brlm, may consider a pre-ipo placement, prior to filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlm. If the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the issue, subject to compliance with Rule 19(2)(b) of the securities contracts (Regulation) Rules, 1957, as Amended (scrr). The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the issue. The utilisation of the proceeds raised pursuant to the pre-ipo placement will be done towards the objects in compliance with applicable law. Prior to the completion of the issue and the allotment pursuant to the pre-ipo placement, the company shall appropriately intimate the subscribers to the pre-ipo placement, that there is no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken). The issue includes a reservation of up to [*] equity shares of face value of Rs.10/-, aggregating up to Rs.[*] crores (constituting up to [*]% of the post-issue paid-up equity share capital), for subscription by eligible employees (employee reservation portion). The issue less the employee reservation portion is hereinafter referred to as the net issue. The company, in consultation with the brlm, may offer a discount of up to [*]% to the issue price (equivalent to Rs.[*] per equity share) to eligible employees bidding in the employee reservation portion (employee discount). The issue and the net issue shall constitute [*]% and [*]% of the post-issue paid-up equity share capital of the company, respectively.The price band and the minimum bid lot size will be decided by the company.

Objective of issue

Funding capital expenditure requirements for civil construction work and towards purchase of equipment, plant and machinery for setting up new manufacturing facility at Sanand GIDC, Ahmedabad District, Gujarat. Funding long-term working capital requirements of the Company. General corporate purposes.

Mehta Hitech Industries Ltd Contact Details

Mehta Hitech Industries Ltd, 301 The Centrium, 3rd Flr 57 LBS, Nav Pada Kurla(W), Mumbai-400 070

Phone - 91 40 6716 2222/18003094001

Fax -

Email - cs@mehtaindia.com

Website - www.mehtaindia.com