Hindustan Organic Chemicals

EPW Research Foundation Hindustan Organic Chemicals HINDUSTAN ORGANIC CHEMICALS (HOCL),a government enterpriseis currently engaged in the production of nitroproducts, hydrogen, aniline, acetanilide, acids, formaldehyde, chlorobenzene, phenol, acetone, propylene and cumene. The company is a market leader in the field of basic chemicals and chemical intermediates and is now undertaking various expansion- cum-moderni sation activities. The company proposes to undertake new projects and expand its existing capacities in the following areas: caustic soda/chlorine, caustic soda flaker, hydrogen peroxide, chlorosulphonic acid, monochlorobenzene, nitrochloro- benzene, sulphuric acid, polyurethane system, and a JNPT tank for trading in chemicals. To part finance these projects, the company is entering the capital market on November 10 with a public issue of 1,14,50,000 equity shares of Rs 10 each at a premium of Rs 40 per share aggregating Rs 57,25,00,000 of which 15 lakh equity shares aggregating Rs 7,50,00,000 are reserved for NRIs. The issue is being lead managed by IDBI and SBI Capital Markets.