ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Domax Steel

Rampur Distillery RAMPUR DISTILLERY AND CHEMICAL (RDCC), the flagship company of the Khaitan group, is coming out with a rights-cunvpublic issue of 13,79,983 fully convertible debentures of Rs 120 each at par, aggregating Rs 16.56 crore. An amount of Rs 10.29 crore will be offered on rights basis to existing shareholders (including employees) and Rs 627 lakh will be offered to the public. Each debenture will consist of two parts. Part A of Rs 60 will be converted into two equity shares of Rs 10 each at a premium of Rs 20 per share at the end of six months from allotment and the second part of Rs 60 will also be converted into two equity shares at the end of 12 months from the date of allotment. Un til conversion the debentures will carry an annual interest rate of 14 per cent. The public issue will open on December 2. The RDCC is one of the largest distilleries in India with an installed capacity of 26 million litres. RDCC also manufactures single super phosphate (SSP), sulphuric acid and sodium silico fluoride. For the year ended June 30 the company had all-time record turnover and net profit of Rs 72.49 crore and Rs 5.98 crore respectively. The dividend for the year has been enhanced to 22 per cent from 18 per cent last year. The company is now embarking upon a modernisation-cum- diversification programme and is puTting up the following plants at its existing site at Rampur: (a) a malt spirit plant with an installed capacity of 460 KL per annum; (b) a bio-gas, co-generation and secondary treatment plant; (c) modernisation of distillery unit by installing new copper distillation plant and a fully automatic bottling line; and (d) balancing of SSP plant by putting equipment like ball mill, scrubbing system, etc. In addition the company is setting up a soya oil/rapeseed extraction plant with an installed capacity of 300 tonnes per day based on soyabean seeds and 350 tonnes per day based on rapesecd oil cake in the heart of the soya producing zone at Ratlam in Madhya Pradesh. The bio-gas plant and IMFF modernisation have been completed. Most of the other schemes/projects would be completed by the second quarter of 1992. The capital expenditure on these schemes is esii mated at Rs 36.50 crore. Apart from the rights-cum-publie issue of debentures, the other means of finance include term loan of Rs 8.78 crore, equipment credit of Rs 1.96 crore, suppliers credit of Rs 1.90 crore and non-convertible deben tures of Rs 5 crore and internal accruals of Rs 2.79 crore. SBI Capital Markets and Industrial Finance Corporation of India are the lead managers to the issue.

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