ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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TAMIL NADU-Gentlemen Killers of Kilvenmani

PUNJAB ANAND BATTERIES, jointly sponsored by the Punjab State Industrial Development Corporation and C L Anand, managing director of the Cochin- based Toshiba Anand Batteries, is entering the capital market on June 4 with an issue of 2,94,000 equity shares of Rs 10 each and 20,000 9.5 per cent redeemable cumulative preference shares of Rs 100 each, both at par, to raise part of the finance required for its project for the manufacture of 60 million dry cell batteries per annum. PSIDC has taken up equity shares of Rs 15.0 lakhs and Anand and his associates Rs 15 lakhs. Term loans of Rs 85 lakhs have been sanctioned by banks, and the balance requirement of Rs 20 lakhs will be met from unsecured deposits. The entire public issue is fully underwritten.

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