| Issue of 62,27,860 equity shares of Rs. 10/- each at a price of Rs.35/- per equity share (including a Premium of Rs.25/-per Equity Share) of Somi Conveyor Beltings Ltd for cash aggregating to Rs.21.80 Crores ("issue"). The issue comprises of contribution by promoters, of 14,99,286 equity shares of Rs. 10/- each at a price of Rs.35 per equity share for cash aggregating to Rs.5.25 Crores ("promoter's contribution portion"), and the net issue to the public of 47,28,574 equity shares of Rs. 10/- each at a price of Rs.35/- per equity share for cash aggregating to Rs.16.55 Crores ("net issue to public") including an allocation of atleast 10% of the net issue to the public to Aualified Institutional Buyers ("QIB Portion"). The net issue to public would constitute 40% of the fully diluted post issue paid up capital of the company.
The issue price is 3.5 times of the face value of the equity share.
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