PORWAL AUTO COMPONENTS LIMITED (PACL) - IPO

PORWAL AUTO COMPONENTS LIMITED (PACL)
Period	17 to 20 Dec 2007
Size (Equity Shares)	5,000,000
Type	100% Book Building
Face Value	Rs. 10-
Price Range	Rs 68 to 75
Market Lot	80 Shares
Max shares Retails investor can apply at cut off	1280 shares (Rs.96000)
Registrar	Intime Spectrum Registry Ltd
Registrar's email	pacl-ipo@intimespectrum.com
Lead Manager	KEYNOTE CORPORATE SERVICE LIMITED
Listing	BSE, OTCEI
Grading	CARE - 'CARE IPO GRADE 3' indicating average fundamentals.
About the company
PACL was incorporated in the year 1992 and has started commercial production since the year 1995. PACL is engaged in the manufacturing of S.G. (Ductile) Iron and Grey Cast Iron Castings and components primarily for the automobile sector. PACL has its manufacturing facilities at Pithampur district, 30 Kms away from Indore. Presently 90 % of production of PACL is supplied to Eicher Motors Ltd. PACL also caters to the requirements of other reputed companies such as L & T Case Equipments Pvt Ltd, Force Motors Ltd., Eicher Tractors, Gajra Gears Pvt. Ltd, Shakti Pumps India Ltd, Man Force Trucks Pvt. Ltd , Diesel Components Works, Tata Automotive Components Ltd. etc. The company manufacturers around 12 different categories of castings such as SG Iron & Grey Iron Hubs, Different carriers and cases, bracketory components, Transmission cases, T G cases, Housings & cover components, Brake Drums, Links components, Pulleys, Pump parts, Exhaust manifolds and Bends. These products find applications in automobile and engineering industry.
Objects of the Issue
To augment the current ongoing expansion of its manufacturing capacity of the CI and SG castings from 6600 MT per annum to 27600 MT per annum; Setting up of one Wind Mill, having Power generation capacity of 1.5 MW which would be used for captive consumption; To meet working capital requirement; To meet the Public Issue Expenses and To list the equity shares at the Bombay Stock Exchange.