| Public issue of 90,00,000 equity shares of face value of Rs.10/- each of Varun Industries Limited (hereinter referred to as the "company" or "issuer") at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.54.00 Crores (hereinafter referred to as the "issue") comprising promoters' contribution of 24,30,000 equity shares of Rs.10/- each at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.14.58 Crores (hereinafter referred to as the "promoters' contribution"). The net issue to the public is 65,70,000 equity shares of Rs.10/- each at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.39.42 Crores (hereinafter referred to as the "net issue"). The net issue would constitute 29.71% of post issue paid up capital of our company.
The issue price of Rs. 60/- per equity share is 6 times the face value.
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