Bhushan Steel has plan to raise Rs 475 crore through rights issue, which would be launched in the third week of January. The company intends to use the money to part-finance its expansion activities, particularly in Odisha. The citybased steel maker would be issuing one equity share at a price of Rs 335 for every 15 equity shares held by its existing shareholders through the issue. Bhushan Steel currently has a production capacity of 2.5 MTPA (million tonnes per annum) and it produces secondary steel products like cold-rolled coils, galvanised coils, colour-coated coils, etc, from its three manufacturing facilities in Uttar Pradesh, Maharashtra and Odisha.
Sunday, 13 January 2013
Bhushan Steel to raise Rs 475 cr through rights issue(BS
Bhushan Steel has plan to raise Rs 475 crore through rights issue, which would be launched in the third week of January. The company intends to use the money to part-finance its expansion activities, particularly in Odisha. The citybased steel maker would be issuing one equity share at a price of Rs 335 for every 15 equity shares held by its existing shareholders through the issue. Bhushan Steel currently has a production capacity of 2.5 MTPA (million tonnes per annum) and it produces secondary steel products like cold-rolled coils, galvanised coils, colour-coated coils, etc, from its three manufacturing facilities in Uttar Pradesh, Maharashtra and Odisha.
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