Initial public offer consisting of fresh issue of 58,80,000 equity shares of face value of Rs. 10/- each fully paid for cash at a price of Rs. 22/- per Equity share (including a share premium of Rs. 12/- per equity share) (the issue price) aggregating up to Rs. 12.94 crores (the issue) of which 3,12,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 22/- per equity share, aggregating Rs 0.6864 crores will be reserved for subscription by the market maker to ths issue (the market maker reservation portion). The issue less market maker reservation portion i.e. issue of 55,68,000 equity shares of face value of Rs.10/- each for cash at a price of Rs. 22/- per equity share, aggregating Rs. 12.25 crores is hereinafter referred to as the net issue. The issue and the net issue will constitute 29% and 27.46% respectively of the fully diluted post issue paid up equity share capital of the company.The face value of the equity shares of Rs. 10/- eachThe issue price of Rs.22/- each is 2.20 times of the face value of the equity shares.