Bothra Metals files draft prospectus for IPO

It is a combination of fresh issue of shares and offer for sale of shares Bothra Metals & Alloys has filed the draft prospectus with BSE SME Exchange for a public issue of Rs 12.21 crore that consists of fresh issue aggregating up to Rs 6.48 crore and an offer for sale of up to Rs 5.73 crore by the promoters. The total issue would be of 48,84,000 equity shares through fixed price route to be issued at Rs 25 per share (face value of Rs 10 per share) aggregating to Rs 12.21 crore. The issue constitutes 26.39% of the post issue paid up equity share capital of the company. Incorporated in 2001, Bothra Metals & Alloys is primarily engaged in the activities of manufacturing of aluminum extrusion, profiles, billets, non-ferrous metal alloys etc and trading of metals. The company currently operates out of three plants in Kala-amb (Himachal Pradesh), Bhavnagar (Gujarat), Sangli (Maharashtra) and has branch offices in several other cities of India. The proceeds raised through the IPO are to be utilized for working capital requirements and other general corporate purposes pursuant to its future expansion plans.