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

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Oswal Spinning and Weaving Mills

 IN THE CAPITAL MARKET Germach 'CNC' GERMACH 'CNC', a pioneering venture to manufacture sophisticated measuring machines for the first time in the country, will enter the capital market with a public issue of 16,20,000 equity shares of Rs 10 each at par on June 4. The company is setting up a project for manufacture of high precision co-ordinate measuring machines and machine tools at Tiruninravur in Chengai-Anna district in Tamil Nadu, The company has entered into a technical know-how arrangement with Digital Electronic Automation and Giuseppe Rastelli of Italy and Manufacture Francaise D'Outillage of France. The arrangement covers transfer of complete know-how for manufacture of the respective machines, transfer of all engineering drawings for complete production know-how, product know-how, etc, and training of the company's personnel at the collaborators' works. The total cost of the project is estimated at Rs 1,037 lakh which is proposed to be financed as follows: Equity capital Rs 397 lakh (promoters' contribution Rs 235 lakh and public issue Rs 162 lakh) and term loan from financial institutions Rs 640 lakh.

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