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August 7, 2008

Resurgere Mines & Minerals India Limited - IPO

Resurgere Mines & Minerals India Limited (Formerly Exfin Shipping (India) Ltd.)


11-Aug to 13-Aug 2008

Size (Equity Shares)



100% Book Built Issue (Initial Public Offer IPO)

Face Value 

Rs. 10- 

Price Range 

Rs 263 to Rs 272

Market Lot 


Max shares Retails investor can apply at cut off



Intime Spectrum Registry Ltd

Registrar's email

Lead Manager 

Motilal Oswal Investments Advisors Pvt Ltd





About the company 

Incorporated: 1987 Business: Extraction and processing of iron ore products ie lump ore and size ore, and is predominantly a manufacturer of calibrated lump ore (CLO) and Iron Ore Fines. The company is also engaged into merchant export of iron ore fines to China.

Resurgere Mines & Minerals India Ltd is ISO 9001:2000 and ISO 14001:2004 Certified from UKAS, United Kingdom. Company is a recognised Star Trading House of India and is also member of various business councils i.e. CAPEXIL, FIEO, FIMI etc. Company currently operates in Nuagaon, Kendujhargarh district and Maharajpur, Mayurbhanj district of Orissa and company purport to commence operations in Singhbhum district of Jharkhand in the near future. Resurgere Mines & Minerals India Ltd have entered in to longterm contracts for these mines, at Nuagoan and at Maharajpur, with the leaseholders for raising and purchasing of iron ore. Company have also entered into similar arrangement with a leaseholder in a mining area in the West Singhbhum district of Jharkhand for the raising of iron ore and then supply of entire production of the mine. All the three mines carry high quality iron ore of about 62% - 64% Fe content.

They have made an application to the Collector of Sindhudurg district for the grant of an iron ore mining lease over an area of 108.77 hectares in village Banda, District Sindhudurg in Maharashtra. Company have also applied for two prospecting leases of iron ore in Banda region to the Collector of Sindhudurg district. They are also engaged in merchant export of iron ore fines to China. Resurgere Mines also propose to venture in bauxite mining and processing business in the near future and hold a mining lease over bauxite mines situated in Yelwan Jugai, Maharashtra through wholly owned subsidiary M/s. Warana Minerals Private Limited (WMPL). WMPL is a partner with 60% share in a registered partnership firm, Shri Warana Minerals which is engaged in the business of mining bauxite ore under the said 30 year mining lease.

The mining assets of Company, except Banda mine, have cumulative estimated reserve of 74.82 million tonnes of iron ore and 4.92 milllion tonnes of bauxite as certified by Central Mining Research Institute.

Objects of the Issue

# Purchase of Plant and Machinery for setting up of our own extraction and crushing facilities at the mines;

# Purchase of railway rakes to set up our own logistics infrastructure facilities;

# Margin money for working capital;

# General Corporate Purposes.

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