ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Efcon Securities

Superstar Welding PROMOTED by Advani Oerlikon, Superstar Welding is engaged in the manufacture of general purpose welding electrodes since 1984-85 and has developed technology in- house for the manufacture of special electrodes for low alloys and high tensile stainless steel, etc. The company is now modernising its existing operations and expanding its present capacity to 4,000 mt It also plans to enlarge its range of products to manufacture welding rods for special uses so as to enhance its coverage of the market and increasing its competitiveness and profitability. The company's products are used for welding in various industries using mild steel, cast iron, stainless steel, etc. The project which is being set up at a total cost of Rs 7.4 crore will be financed through equity capital of Rs 6.4 crore, interest free loan from promoters of Rs 15 lakh, unsecured loans of Rs 50 lakh and internal cash accruals of Rs 36 lakh. The project is expected to commence commercial production by this November. To part finance its project the company is entering the capital market with a public issue of 42,70,000 equity shares of Rs 10 each at par. The issue which will open for subscription on August 31 will be lead managed by Jolly Leasing and Finstock.

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