SHAMKEN MULTIFAB - RELUCTANT TO SHARE BENEFITS
Article Abstract:
Shamken Multifab Ltd (SML) has announced its second rights issue. It plans to raise Rs9.84 crore by issuing 94 lakh shares in the ratio of 1:8 to its shareholders. The shares are offered at par. The issue proceeds are likely to be used for Phase I of the expansion programme for textile fabrics, which is estimated at Rs43.85 crore. The promoter HB Chaturvedi holds 37.44 percent stake in the equity of Rs9.06 crore. The paid up share capital is likely to increase to Rs18.95 crore. SML has availed a rupee term loan of Rs21 crore, Rs9 crore foreign currency loan and Rs4.01 crore of unsecured loans. The Phase I project is expected to increase the capacity by 12.24 lakh metres per annum. The scrip is traded at Rs8 now. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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THE SEASON OF HUFFING AND PUFFING
Article Abstract:
Farmers in Karnataka who produced Flue Cured Virginia tobacco, who were already affected by delayed monsoons and Sulphate of Potash shortage, are not even getting 1997 prices for their output. Poor climactic factors have resulted in low grades accounting for 40-44 percent of the total 55 million kg tobacco crop in the 1998 season. Low grade tobacco is now being traded at an average price of Rs14.33 per kg against the average price of Rs27.98 per kg in he 1997 season. The bright grade are trading at Rs50.21 per kg compared to Rs60.77 per kg while the medium grade is trading at Rs36.45 per kg against Rs47.29 per kg. (khr)
Comment:
Farmers in Karnataka who produced Flue Cured Virginia tobacco, who were already affected by delayed monsoons and Sulphate of Potash shortage, are not even getting 1997 prices for their output.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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WELSPUN SYNTEX - PUFFING INTO GREATER SHAPE
Article Abstract:
Welspun Syntex (WS), a leading textile processing unit, is entering the capital market to raise Rs43 crore. Its public issue will open on June 4, 1998, and close on June 8, 1998. The proceeds of the issue will be used to part-finance WS' Rs186 crore texturised capacity expansion programme. WS is involved in texturising, draw twisting and dyeing with a total yarn processing capacity of 1,800 tonnes per annum. GR Goenka, the promoter of the Welspun group, plans to manufacture specaility polyester filament yarn with an installed capacity of 19,300 tonnes per annum. (gs)
Comment:
Leading textile processing unit enters the capital market to raise Rs43 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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