Equity shares of Tulsi Extrusions, a manufacturer of agricultural polyvinyl chloride (PVC) pipes and fittings, will be listed for trading at the bourses today (Feb. 25, 2008).
The initial public offering (IPO) of the company received moderate response from investors which was subscribed 2.08 times. The company received 11.85 million bids as against issue size of 5.70 million shares. The company fixed issue price at Rs 85 a share compared with price band of Rs 80 to Rs 85 a share.
Almondz Global Securities helped the company to raise funds via this public issue.
Tulsi Extrusions was incorporated as a private limited company on Sept. 16, 1994 and converted into a public limited company on Jun. 05, 1995. The ISO 9001:2000 certified company has a product list including soil waste and rain water pipes and fittings; polyvinyl chloride pipes, molded and fabricated fittings; linear low density polyethylene pipes; ASTM pipes; casing pipes; high density polyethylene pipes; and elastomeric sealing pipes. The three manufacturing units are located in the Jalgaon district of Maharashtra with a total installed capacity of 10,483 MTPA PVC pipes and fabricated fittings. The products are sold under brand name Tulsi.
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