HPC Biosciences To Raise Fund Through IPO
2013-01-28 17:43:06
HPC Biosciences Limited is planning to raise R15.75 Cr by offering 45,000,00 shares of face value R10 at R35 per share. The issue will constitute 28.30% of the post issue paid up equity share capital of the company. The company will be traded on BSE-SME Exchange.
Out of 45,000,00 shares, 2,32,000 shares are reserved for market maker and remaining 42,68,000 shares will be offered for public subscription.
Guiness Corporate Advisors Limited is the lead manager to the issue.
The funds raised through this issue will be utilized for developing a Green House Cultivation, Development of Farm land for transition to Organic Farming, to strengthen supply chain management, to procure farm tools and equipments and to meet WC requirement and general corporate expenses.
HPC has also entered into the operations of wood plantation, wherein we are planting Bamboos, Kadam, Poplar, Eucalyptus and Kadam. The company control over 400.66 Acres of land situated at Village Anandpur, Pant Nagar, Uttarakhand.
HPC Biosciences’ listed peers include REI Agro, Usher Agro and Eco Friendly Food Processing Park and their performances on BSE:
Last year, Chennai based Hindusthaan Eco Ventures filed DRHP to raise IPO by fresh issue of 9 Mn shares, which constitute 45% post issue paid up capital of the company.
Hindusthaan Eco Ventures is engaged in integrated operations of agriculture and manufacturing of organic pesticides and manure through its subsidiary Basarass Bio Con (India) Private Limited.