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Issue Open Date
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11-Mar-10
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Issue Closing Date
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15-Mar-10
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Application Money
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100
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Allotment Money
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Price Band
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100
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110
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Minimium Application No.
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60
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Issue Size (Shares)
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10600000
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Market Lot
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1
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Objective
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We intend to deploy the proceeds from the Issue as under:1. To part finance the setting up the Proposed Manufacturing Facility within the Proposed Textile SEZ;2. To part finance the incremental margin money requirement for working capital;3. To meet Issue expenses.
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Category
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No. of Shares
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No. of Shares
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Subscription Ratio
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Offered / Reserved |
Bid For |
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Non-Institutional Investors
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1515000
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68708760
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45.3523168316832
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Qualified Institutional Buyers
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5050000
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43298700
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8.574
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Retail Individual Investors
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5050000
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43298700
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8.574
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Business Description:
Our Company is one of the few textile manufacturers with niche focus on Home Linen Products of both, wider width and narrowwidth. In addition to the sales in the domestic markets, our products are being exported to markets in more than twenty countries(directly and indirectly). Our current manufacturing capacity is 115.50 million metres per annum with an average capacityutilization of 88%. Our existing facility is located at Changodar near Ahmedabad in Gujarat. We are enhancing our capacities to148.5 million metres per annum in order to meet the expanding demand and further consolidate our position in the home linenmarket. The expansion project is being implemented at the Proposed Textile SEZ being promoted by us near Ahmedabad in Gujarat.We have been certified as conforming to the Quality Management System Standard ISO 9001:2000 covering the supply of dyed andprinted fabrics. Further, our existing manufacturing facility at Plot No. 104, 105 and 106, Charcharwadi – Vasana Sarkhej, BhavlaHighway, Opposite Zydus Cadila, Near Prakash Solvent, Changodhar, Ahmedabad 382213, Gujarat, India, has been grantedauthorization according to Oeko-Tex Standard 100 to use the Oeko-Tex mark for articles, namely bed sets (made-ups), wovenfabrics made out of 100% bleached, reactive dyed, reactive printed and pigment printed (inclusive sewing threads, buttons andzippers), produced by using material certified according to Oeko-Tex Standard 100. Further, after implementation of the Project, wealso intend to file applications for obtaining similar certifications for our Proposed Manufacturing Facility.In order to strengthen our business presence, we have undertaken the following key business initiatives and signed agreements /Memorandum of Understanding (MoU) with the following parties:-1. Our Company has entered into an MoU with International Development LLC, Tampa, FL, USA (IDL) to act as itsmarketing partner and to develop the market, approach retailers, institutional and corporate users, make representations andpromotions, book the orders and coordinate the sales process for its Home Linen and Bed Linen Products in the territoriesof North America.2. Our Company has received permission from International Development LLC for using and marketing the brand “Lucy BLinens” for Home Linen Products in India and other pertinent countries.3. C. A. Patel Textiles Private Limited for marketing our products in the domestic marketWe have been constantly making an endeavor to create new and more attractive designs / patterns on our products in order to havean advantage over other players in the market. We have a team of designers who develop the indicative designs received fromcustomers and also develop independent designs and we have an extensive library of designs.
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Promoter's Holding
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Total Share Capital
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27727980
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Offered to Public
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10600000
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Promoter's Holding (Pre-Issue)
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100
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Promoter's Holding (Post-Issue)
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45.55
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Address |
A/601
Narnarayan Complex
Near Swastik Cross Roads
Navrangpura
Ahmedabad
,
Gujarat
,
380009
Phone :
91-79-26431594
Email :
Investor@pradipoverseas.com
Website :
www.pradipoverseas.com
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Registrar |
Link Intime India Pvt Ltd
C-13 Pannalal Silk Compound
L B S Marg
Bhandup
Mumbai
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Listed at |
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BSE, NSE
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Lead Manager |
Anand Rathi Securities Ltd
Karvy Investor Services Ltd
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Promoters |
Chetan Karia
Pradipkumar Karia
Vishal Karia
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