Servalakshmi Paper Ltd has filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offer (IPO). The company is proposing to enter capital markets with a public issue of equity shares aggregating Rs.600 million through 100 percent Book Building Process.
“Our company has embarked upon setting up an integrated paper mill with a capacity to produce 300 TPD, along with a 15 MW multi – fuel captive power plant at a single location. The total investment is estimated to be Rs. 340 crores and the entire project is set to be completed in two phases. Our company has successfully completed the Phase one of the project in all respects and started the commercial production on April 1, 2010. For phase 2 project we plan to raise the money through the proposed IPO.” said Mr. R. Ramswamy, Chairman & Managing Director of Servalakshmi Paper Ltd.