Public issue of 90,00,000 equity shares of face value of Rs.10/- each of Varun Industries Limited (hereinter referred to as the company or issuer) at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.54.00 Crores (hereinafter referred to as the issue) comprising promoters' contribution of 24,30,000 equity shares of Rs.10/- each at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.14.58 Crores (hereinafter referred to as the promoters' contribution). The net issue to the public is 65,70,000 equity shares of Rs.10/- each at a price of Rs.60/- for cash at a premium of Rs.50/- per equity share aggregating to Rs.39.42 Crores (hereinafter referred to as the net issue). The net issue would constitute 29.71% of post issue paid up capital of our company.The issue price of Rs. 60/- per equity share is 6 times the face value.