Initial public issue of up to 61,00,000 equity shares of face value Rs. 10/- each (the "Equity Shares") of Vetrivel Explosives Limited ("The Company" or "Vel" or the "Issuer") for cash at an issue price of Rs. [*] per equity share (including a securities premium of Rs. [*] per equity share) ("Issue Price"), aggregating up to Rs. [*] Crores (the "Issue") of which up to [*] equity shares aggregating to Rs. [*] Crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Issue of up to [*] equity shares of face value of Rs. 10/- each at an issue price of Rs. [*] per equity share aggregating up to Rs. [*] Crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute up to [*] % and up to [*] % respectively of the post-issue paid-up equity share capital of the company.
The face value of equity shares is Rs. 10/- each. The issue price is [*] times the face value of the equity shares. The price band and the minimum bid lot will be decided by the company.