Registered and corporate office of our Company:
11/6B, Shanti Chamber,
New Delhi 110 005
Telephone: +91-11-30111000, 40753333
Address of the Registrar of Companies
Registrar of Companies,
National Capital Territory of Delhi and Haryana
4th Floor, IFCI Tower,
61, Nehru Place,
New Delhi 110 019,
Telephone: +91 (11) 2623 5704
Facsimile: + 91 (11) 2623 5702
Company Secretary and Compliance Officer
Mr. Suman Kumar
11/6B, Shanti Chamber
New Delhi – 110 005, India
Tel: +91 (11) 30155100, 30111000
Fax: +91 (11) 25754365
During the FY 2012-2013, your company reported standalone revenue of rs. 17739.17 lacs as compared to the previous yesr's standalone revenue of rs. 17264.91 lacs. This resulted in a standalone profit after tax of rs. 1060 lacs VIS-A-VIS a standalone profit after tax of rs. 78.42 lacs in FY 2011-2012. E.P.S 0.94 in 2013 and 0.07 in 2012.
Your company has received SEBI'S nod for proposed issue through FPO. SEBI through its letter dated 10th may, 2013 has given its approval for the FPO and SMC is mandated to bring the proposed issue within a period of 12 months from the date of issuance of the approval. however we are trying to come out with proposed FPO as soon as possible and company is waiting for the appropriate market conditions as to when to bring about this issue.
OBJECTS OF THE ISSUE
The Issue comprises a Fresh Issue by our Company and an Offer for Sale by the Selling Shareholder.
The Offer for Sale
The Selling Shareholder proposes to Offer for Sale 79,33,690 Equity Shares of ` 2 each. Our Company will not receive any proceeds of the Offer for Sale by the Selling Shareholder.
The Objects of the Fresh Issue
Our Company through this Issue, is making a fresh issuance of 79,33,690 Equity Shares of face value of ` 2 each.
The details of the proceeds of the Fresh Issue are summarised in the table below:
(rs. in crore)
Gross proceeds from the Fresh Issue(1) [●]
(Less) Issue related expenses(2) [●]
Net Proceeds (1) [●]
(1) To be finalized upon determination of the Issue Price.
(2) Proportionate Issue related expenses borne by our Company would be included. Except for the listing fee which will be borne by our Company, all expenses relating to the Issue will be borne by our Company and the Selling Shareholder in proportion to the Equity Shares contributed to the Issue.
The proceeds of the Fresh Issue, after deducting the proportionate underwriting and issue management fees, selling commissions and other expenses associated with the Fresh Issue (the “Net Proceeds”), except for the listing fee which shall be paid by our Company, shall be utilised towards the following objectives (collectively, referred to herein as the “Objects”):
(i) Margin maintenance with stock exchanges;
(ii) Part repayment of term loan;
(iii) Investments into our Subsidiary, SMC Comtrade; and
(iv) General Corporate Purposes
We also believe that by listing our Equity Shares on nationally recognised stock exchanges, NSE and BSE, will further enhance our visibility and brand name, allow us currency for further capital raising and also provide liquidity to the existing shareholders.
The main object clauses of our Memorandum of Association of our Company and objects incidental to the main objects enable us to undertake our existing activities and the activities for which funds are being raised by us through this Issue.
Our Requirement of Funds and Schedule of Implementation and Deployment of Funds
On the basis of our current business plans, we intend to utilise the Net Proceeds for financing the Objects . We propose to deploy the Net Proceeds towards such identified activities in Fiscal 2013.
The details of the utilisation of Net proceeds are as per the table set forth below:
(Rs. in crore)
A. Margin maintenance with stock exchanges 30.00
B. Part repayment of term loan 10.00
C. Investment into our Subsidiary, SMC Comtrade 10.00
D. General Corporate Purposes [●]
Disclaimer :All information given in good faith. Please recheck all facts. No responsibility taken by this author / blog