Somi Conveyor Beltings Limited IPO

Somi Conveyor Beltings Limited
Period	24-Jun to 27-Jun 2008
Size (Equity Shares)	97,03,580
Type	Fixed Price
Face Value	Rs. 10-
Price Range	Rs 35 to Rs 35
Market Lot
Max shares Retails investor can apply at cut off
Registrar	Mondkar Computers Pvt Ltd
Registrar's email	somi_ipo@mondkarcomputers.com
Lead Manager	Ashika Capital Ltd
Listing	BSE
Grading
About the company
Incorporated: 2000 Business: Manufacturer and exporter of Rubber Conveyor Belts of all grades for material handling. The main user industries for Rubber Conveyor Belts are cement, steel, power, fertilizer, coal mines, mineral mines, chemicals and recently, food grade belts have been introduced, which are being used by tea gardens and salt manufacturers. These belts are also used for material handling of finished goods in packaging lines. The Company's unit is located at RIICO, Sangaria Industrial Area, District Jodhpur, Rajasthan. The Company commenced its commercial production in February 2002 with an initial capacity of 36,000 running meters of conveyor belts per annum, which was gradually increased to 72,000 meters per annum. Over the years, the capacity of the unit has increased to 1,67,660 meters. Sister concerns are: Earth Mover Enterprises and Oliver Micon Inc.
Objects of the Issue
# Setting up of new manufacturing unit; # Purchase of Land and Building for the office premises; # Meeting margin money required for the enhanced working capital; # To meet the working capital requirement; # To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges; # General corporate purposes.