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Automark Industries (India) files DRHP with SEBI for an IPO

29 Jul 2011 Evaluate

Automark Industries, an ISO 9001: 2000 certified company is planning to come up with an Initial Public Offering (IPO) of upto 1,25,00,000 equity shares of face value Rs. 10 each. The company has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI).

Automark Industries is engaged into manufacturing of thermoplastic Road Marking materials, primers for application of thermoplastic Road Marking materials on concrete roads, water borne marking paints, cobralite retro reflective paint. The company also manufactures Road Marking machineries which are used in the application process of Road Marking paints.

The company will be using the issue proceeds for the following purposes: 

  • Purchase of Road Marking Machines to increase the contracting capacity and setting up a plant for manufacture of thermoplastic Road Marking Machines
  • Setup of thermoplastic Road Marking Materials manufacturing and contracting facility in Kenya/ Uganda to service the market of COMESA
  • Investment in Subsidiary, namely Automark Technologies (India) Private Limited (ATPL) for funding capital expenditure 
  • Implementation of Enterprise Resource Planning (ERP) system in the organization 
  • To part-finance incremental working capital requirements 
  • General corporate expenses

The book running lead manager is Comfort Securities and registrar to the issue is Sharepro Services.

Peers
Company Name CMP
Redington 226.00
Adani Enterprises 2257.00
Amrapali Industries 17.30
Rashi Peripheral 476.95
PDS 290.80
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