Thursday, January 3, 2008

Burnpur Cement to list on bourses on Jan. 3

Shares of Burnpur Cement (BCL) will be listed on the bourses on Thursday, Jan. 3, 2008. The company has fixed the issue price at Rs 12 a share of Rs 10 each. The equity shares of the company are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). SREI Capital Markets helped the company to raise Rs 262.80 million via this issue.

Originally incorporated in 1986, BCL is one of the established cement manufacturers of Eastern India having its market presence in West Bengal, Jharkhand and Bihar. It started operations in the cement industry in October 1991 with a small cement plant of 30 TPD. The unit was set up in Asansol to produce Portland slag cement. The production phase was ushered in with the commissioning of the plant in October, 1991. A slow and steady commissioning of other units led to a gradual stepping up of production over the years. Expansion of facilities over the years has resulted in a capacity of 1000 TPD of cement making. In fiscal 2006-07, BCL achieved a turnover of Rs 261 million.

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