NCML Industries’ Existing Shareholders To Come Out With IPO
Priyanka Kumari / 08 Apr 2013
NCML Industries is all set to get listed on the bourses, with 60 lakh equity shares being issued to the public by its existing shareholders. The company is yet to disclose the details of the offer.
Delhi-based company NCML Industries (NCML) has filed a DRHP to list its equity shares on the bourses. The offering is not a fresh issue from the promoters or the company, but comes from the existing shareholders of NCML.
In this issue, the selling shareholders are offering 60 lakh equity shares to the public and will be based on 100% book-building method. The said selling shareholders of the company are Mohit Nidhi Agro Oil, Sundaram Distributors and Jagprem Vyapaar, which are selling 34.62 lakh, 9.87 lakh and 15.51 lakh equity shares respectively, amounting to a total of 60 lakh equity shares. The total issue will comprise 25.48% of the post issue paid-up equity shares capital. The book-building lead manager appointed for this IPO is Corporate Strategic Allianz.
NCML is the flagship company of the NCML Group. It was incorporated in the year 1966. NCML has four group companies, viz. NM Agro, NM Industries, NCML & Co. and Maash Agroils.
The company is primarily engaged in importing and marketing edible/non-edible oil and refining of edible oil. It imports and trades crude palm oil, crude soyabean oil, crude mustard oil, refined palm oil, refined mustard oil, etc. Its refined edible oils are marketed under the brand name ‘Shan’ for palm oil, ‘Maanik & Maanik Gold’ for soyabean oil and ‘Moti & Pearl’ for mustard oil. For oil refining, the company has a plant with a current installed capacity of 350 tonnes per day in Uttar Pradesh.
NCML also initiated its power generation business in 2007-2008, with an installed capacity of 600 KW in Tamil Nadu. At present, its total power generation capacity stands at 6.6 MW.
With the manufacturing of edible oil from its newly installed plant and an increase in interest on bank deposits, the company’s topline grew by 62% to Rs 1,69,250 lakh in FY12 as compared to Rs 1,04,662 lakh in FY11. Its total expenses increased by 60% to Rs 1,64,329 lakh during the fiscal against Rs 1,02,589 lakh in FY11, mainly due to cost of raw material. In the same period, the bottomline grew by 139% to Rs 3,304.47 lakh.
So far, the price band and the minimum bid lot size for the issue have not been disclosed. We will keep you updated on this as and when the details are made available, so watch this space.
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