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Tria Fine Chem Ltd.

BSE: 524721 Sector: Industrials
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan Tria Fine Chem Ltd
NSE 05:30 | 01 Jan Tria Fine Chem Ltd

Tria Fine Chem Ltd. (TRIAFINECHEM) - Company History

TRIA FINE-CHEM LTD. INCORPORATION & PROMOTION : Incorporated as a Public Ltd Co. on 21st July, 1992. Promoted by D.P.Chaturvedi and his associates viz. Harin B.Dave and Ram Babu Upadhyay. THE PROJECT : Setting up project for manufacture of 500 tonnes per annum of Butylated Hydroxy Toluene and 500 TPA of Para Teritary Butyl Phenol at MIDC, Mahad (Additional) Industrial area in Maharashtra. COST OF THE PROJECT & FINANCE : The total cost of the project estimated at Rs. 890 lakhs was to be met by equity capital of Rs. 590 lakhs and term loan from IDBI of Rs. 300 lakhs. SCHEDULE OF IMPLEMENTATION : Commercial production expected to commence by May 1995. RISKS AS PERCEIVED BY THE MANAGEMENT : (i) No Objection Certificate (NOC) from the Pollution Control Authorities for the project is yet to be obtained. (ii) No Objection Certificate for Power connections to MSEB and for water connection to MIDC is yet to be obtained. (iii) The orders for Plant and Machinery for the proposed project are yet to be placed. (iv) The Company is a maiden venture of the promoters. (v) The Final Lease Deed for land acquired from Maharashtra Industrial Development Corporation (MIDC) in respect of the proposed project is yet to be executed. (vi) The working capital for the proposed project is yet to be sanctioned. DETAILS OF THE ISSUE : Authorised capital of Rs. 600 lakhs comprises of 60 lakhs equity shares of Rs. 10 each. 7,60,000 equity shares of Rs. 10 each were to be issued of which 18,90,000 shares and 7,80,000 shares are reserved for firm allotment to friends, relatives and associates and to NRI's/OCB respectively. The remaining 6,50,000 shares and 3,20,000 shares are reserved for preferential allotment to Mutual Funds and Financial Institutions respectively with a provision to add back unsubscribed protion, if any, to the public issue of 15,00,000 shares.