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

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Kilitch Drugs (India)

EPW Research Foundation Supreme Petrochem SUPREME PETROCHEM has been pro- moted by Supreme Industries, the largest processor of plasties in the country, and R Raheja Investments. Supreme Industries, a 30-year old company with a consistent record of profitability and dividend payments, is also the first Indian plastics processing company to receive the ISO-9002 certificate; Supreme Petrochem is setting up an international size plant to manufacture 66,000 tpa of polystyrene (including coloured polystyrene) at Am- doshi, near Nagothane in Raigad district of Maharashtra, To part finance the project the company plans to tap the capital market with a public issue of 3,50,40,000 15 per cent secured redeemable partly convertible debentures (PCDs) of Rs 23 each at par. Part A of Rs 10 of each PCD will be converted into one equity share of Rs 10 at par on allotment while part B of Rs 15 will be the non-convertible part and will be redeemed in three equal instalments at the end of the sixth, seventh and eighth years for the date of allotment. The company has also made arrangements for buy back of the non- convertible portion (khokha) of each PCD. The issue, which will open for public subscription on February 21, will be lead managed by ICICI Securities and Finance Company, Standard Chartered Bank and SBI Capital Markets.

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