The Public Issue of Manaksia Limited received an excellent response from investors and was subscribed 9 times by 5 pm this evening. The Company had entered the capital market on 17th December 2007 with a public issue of 15,500,000 Equity shares of Rs.2 each at a price band of Rs. 140 to Rs. 160 per equity share.

The total issue would constitute 22.29% and net issue 22.15% of the fully diluted post issue paid up capital of the Company. ICICI Securities Ltd is the Book Running Lead Manager for the Issue. The equity shares of the Company are presently listed on the CSE and the equity shares offered through this public issue are proposed to be listed on the BSE, NSE and the CSE.

Manaksia Limited is a multi division and multi location Company focusing on manufacturing of value added metal products and metal packaging products. The Company intends to use the net proceeds of the Issue for expansion of metals business by purchase of capital equipment, prepayment of certain term debt and for general corporate purposes. The expansion of metals business includes addition of certain equipments for de-bottlenecking to aluminium rolling line at Haldia aimed at production of higher value added products as well as improving efficiency of its present production.

Some of the competitive strengths of the Manaksia Limited include an integrated business model, focus on innovation and development of quality products, multiple production sites to allow for efficient delivery in various geographical locations to its customers and international operations and their contribution to overall growth. The strategy of the company is to increase production capabilities in India, focus on further vertical integration, leverage low cost manufacturing model and continue focus on innovation and product development.

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