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| Wednesday, April 05, 2006 |
| IPO: Lokesh Machines Ltd |
Company Name : Lokesh Machines Ltd
Type of Issue : Book Built
Issue Opens : 07 April, 2006
Issue Closes : 13 April, 2006
Issue Size : 3,000,000(No. of Shares)
Lower Price Band (Rs): 130
Upper Price Band (Rs): 140
Total Size (Rs) : 42 Crores
Registrar to the Issue : Karvy Computershare Pvt Ltd
Managers to the Issue: Karvy Stock Broking Ltd
Company Details:
URL : http://www.lokeshmachines.com
Address : B-29, EEIE Stage-II, Balanagar, Hyderabad - 500 037
Email : info@lokeshmachines.com
Contact Details : 914023079310 /914023079313 /914023078274 (fax)
ISSUE Description
Lokesh Machines Limited was started by Mr.M Lokeswara Rao, an executive from HMT. It started out as a machining company handling job works for HMT Ltd. and over the last 21 years the Company has made steady progress by constantly upgrading its capabilities and enhancing the range and depth of activities. It graduated to manufacturing Special Purpose Machines, which was the mainstay of its operations for the first few years.
In 1995-96, the company was able to conclude an agreement with Mahindra and Mahindra for machining of their Cylinder Blocks. The Company was also able to bag orders for Special Purpose Machines from other auto majors like Escorts, Ashok Leyland, Bajaj Auto etc.
In keeping with the trends in auto industry, the company has started according greater focus to the CNC machines and general purpose machines and auto components.
In recent past the company has been able to make forays in the export market and has been able to bag and execute export orders in Italy, Germany and Japan.
Objects of the issue
To raise funds required for
· Setting up facility for machining and supply of cylinder blocks and Cylinder Heads for commercial vehicles
· Modernisation Project for upgrading existing facilities for manufacture of machines and machine tools
· To meet working capital needs etc
The facility production of cylinder blocks and cylinder heads will be used exclusively for supply to Ashok Leyland Limited and renewable thereafter every year.
Key Financials
(Year ended March 31, 2005)
Total Income Rs. 6921.79 lakhs
Net Profit after tax : Rs. 567.48 lacs
RONW 27.90%
NAV per share Rs. 27.49 as on 31st October 2005
EPS as on 31st March 2005 : Rs. 6.47
PE Multiple at Price of Rs. 140 : 21.6
ipo|sensex|lokesh machines ltd ipo |
posted by Stock & Shares @ 4:39 PM  |
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