Hindusthaan Eco Ventures IPO To Hit Capital Market Soon (27-Jan-2012)
Hindusthaan Eco Ventures has filed draft red herring prospectus with market regulator Securities Exchange Board of India (SEBI) for initial public offering (IPO). The company looks forward to dilute its 45% stake with issue of around 90 lakh equity shares having face value of Rs 10 each.
Comfort Securities is the book running lead manager and Cameo Corporate Services is the registrar to the issue.
The company intends to utilize issue proceeds towards expansion of contract farming & development of animal husbandry, setting up cold storage plant, investment in our wholly owned subsidiary, namely Basarass Bio Con (India) Basarass for funding capital expenditure and to meet the working capital requirements of the company.
Hindusthaan Eco Ventures, incorporated in 1990, is engaged in agricultural operations and contract farming also has forayed into the cultivation of organic fruits and vegetables in the year 2010. Post acquiring Basarass Bio Con (India) in 2010, the company has also entered into the segment of Bio-fertilizer and Bio-pesticides. Summing up, Hindusthaan Eco Ventures' present operations include -- Agriculture operations, Bio-Agri Inputs viz. Bio-fertilizers & Bio-pesticides and Agri-clinic which provides agri based consultancy and technical inputs.
The company has posted net profit of Rs 376.41 for the quarter ended March 31, 2011 which is whopping 174% increase on sequential basis from Rs 137.36.
Top News Today
 Aditya Birla Group Company - Idea Cellular has slashed 3G tariffs by up to 70%. As per the revision, Idea prepaid and postpaid users have to pay 3 paise per 10 KB of data against earlier levels of 10 paise
 National Thermal Power Corporation (NTPC) will be signing the fuel supply agreements' (FSA) with Coal India for 4,300 megawatts on 2009 terms. In these FSAs companies have change trigger level, which has
 After cellular market leader Bharti Airtel launched its 4G services, now Reliance Industries is reportedly gearing up to launch the services soon and has accordingly partnered with Himachal Futuristic
|
International Stock News
 US markets made a mixed closing on Tuesday, just a day after a buoyant rally, as concerns about Greece's potential exit from the eurozone resurfaced in the final hour. Though, the markets remained in jubilant
 US markets got a good bounce back on Monday with all major indices gaining more than 1%, it was one of the best session of the month. There was some M&A activity along with report that Chinese government
 US markets declined further on Friday, making it the worst week for the markets in 2012, as the most awaited Facebook (FB) IPO was only able to muster a slight gain in its public debut, while the eurozone
|
|
|