Teknomin Aqua Exports (India)

Nikumbh Dairy Products NIKUMBH DAIRY PRODUCTS is establishing an integrated dairy project at Shahpur, Thane, and expanding its existing dairy at Kolhapur in Maharashtra. The processing of milk and the production of milk-based products like pasteurised milk, flavoured milk, ghee, dairy whitener, instant tea and coffee-mix, etc, will be undertaken at the Shahpur unit. Commercial production for the expanded capacity at Kolhapur is expected to commence by August 1993 and the Shahpur unit by October 1993. As per the appraisal done by Bank of India, a turnover of Rs 32.27 crore and a net profit of Rs 1.85 crore in the first full year of operation are expected to be achieved. In the second year they will be Rs 45.43 crore and Rs 1.99 crore respectively. To finance in part the total project cost of Rs 670.50 lakh, the company is entering the capital market with a public issue of 27,13,700 equity shares of Rs 10 each for cash at par aggregating Rs 271.37 lakh on July 12. The shares will be listed at the Bombay, Ahmedabad, New Delhi and Pune stock exchanges. BOI Finance and Reliance Capital and Finance Trust are the lead managers to the issue.