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

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Apple Mutual Fund

EPW Research Foundation Rathi lspat BELONGING to the P C Rathi group of companies, Rathi Ispat is engaged in manufacturing alloy steel and stainless steel billets and steel castings. The company now has plans to undertake an expansion/ modernisation/ diversification programme with a total project outlay of Rs 27.4 crore which will enhance the present capacity from 60,000 to 1,50,000 tpa. IFCI which has appraised the project is participating in the project by way of term loans and equipment leasing Finance to the tune of Rs 5.6 crore. To part finance the project the company plans to tap the capital market in the second week of May with a public-cum-rights issue of fully convertible debentures (FCDs) aggregating Rs 21 crore. FCDs in the rights issue will be convertible at a premium of Rs 20 per equity share while FCDs in the public issue will carry a premium of Rs 25 per equity share on conversion. With part of the project already completed the balance is expected to be completed by December 1994.

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