Gokul Refoils Solvent

By Research Desk
about 12 years ago
Gokul Refoils Solvent

 

Gokul Refoils and Solvent, a Gujarat based company, engaged in the business of solvent extraction, refining of Edible oils and Vanaspati manufacturing, has filed its DRHP with SEBI on 12th November 2007. The company plans to issue 77 lakh equity shares of Rs.10 each at a price to be determined later, to raise Rs.150 crore. The issue constitutes 29.19% of the fully diluted post issue equity paid-up capital.

 

The company has set up a Solvent Extraction plant and an oil refinery at Sidhpur, Gujarat, a refinery of 800 TPD and Vanaspati plant of 100 TPD at Gandhidham, four wind mills of 1.25 MW each in Kutch for captive power consumption and a 100 TPD operational refinery in Surat. It has also set up a co-generation power plant of 500 KWH at its Gandhidham unit. At present, the company has 680 TPD of seed processing, 600 TPD of Solvent Extraction, 1,200 TPD of refining and 200 TPD of Vanaspati manufacturing.

 

The company is raising funds to set up a new 1,500 TPD Soyabean processing plant near Gandhidham, to fund expansion of its existing edible oil refinery at Surat, invest in its wholly owned subsidiary in  Singapore, fund part of its long term working capital, invest in brand building activities, invest in increasing warehousing capacities and also raise continuous Capex for existing units.

 

The company markets its products under the brand name of "Gokul" in the states of Gujarat , Maharashtra, Rajasthan, Madhya Pradesh and Punjab.


The company's consolidated income for the financial period ended July 31, 2007 was Rs 657.91 crore on which it posted a profit after tax of Rs 20.70 crore.

 

The BRLMs to the issue are Anand Rathi Securities and Intensive Fiscal Services Pvt Ltd. The stock is proposed to be listed on the BSE and NSE.

 

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