By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
Shri Bajrang Power and Ispat Limited, the flagship company of the Goel Group of companies, is an integrated manufacturer of long steel products in India filed its DRHP with SEBI (http://www.equirus.com/pdf/Shri%20Bajrang%20Power%20and%20Ispat%20Ltd_DRHP.pdf)
The Initial Public Offer (IPO) comprises of equity shares of face value of Rs. 10 each (“Equity Shares”) of Shri Bajrang Power and Ispat Limited (“Company” or the “Issuer”) aggregating up to Rs. 500 crore.
The proceeds from the net public issue will be utilized towards: (a) Repayment/pre-payment, in full or part, of certain borrowings availed by the Company (Rs. 375 crore); and (b) for General corporate purposes.
In addition to its existing facilities the Company plans to increase production capacities. The facilities above are expected to be fully commissioned during Financial Year 2020. On completion of the above expansion plans, the Company’s aggregate installed capacity is expected to increase from 360,000 TPA to 510,000 TPA, for sponge iron production; and from 235,200 MTPA to 264,000 MTPA, for Billets and Blooms.
The Company is setting up of an additional sponge iron plant, of 150,000 TPA, at the Unit III Tilda facility. This would significantly enhance sponge iron output and doubling it from 150,000 TPA to 300,000 TPA.
The Company is setting up a replacement facility at Unit III, comprising of: (a) steam turbines capable of generating 30 MW per day, (b) waste heat recovery boilers with an aggregate capacity of 62 TPH; and, (c) machinery for facilitating the transfer of surplus power from Unit III to Unit I, (namely an external combustor, 132 Kva power transmission lines, and, a sub-station with 20/25 Mva generator transformer). Read more