November 21, 2008

Anil Special Steel to raise INR 56.9 million on preferential basis

It is reported that Anil Special Steel Industries is planning to raise INR 56.9 million through the allotment of 1,945,300 equity shares of INR 10 each to the promoters and non promoters at a premium of INR 19.25 a share aggregating to INR 29.25 a share on preferential basis in one or more tranches.

Anil Special Steel belongs to the Shalimar group and was incorporated as a public limited company in 1968 to manufacture hardened and tempered steel strips. It has technical expertise that is provided by Hoesch Werke Hohenlimburg Schwerle AG of Germany. At present it is capable of manufacturing 11,000 tonnes per annum of hardened and tempered strips and 50,000 tonnes per annum of cold rolled steel strips and capacity to manufacture circular saws and blanks upto 360,000 pieces per annum.