| The
objects of the Issue are raising capital for financing
our Company's proposed business plans and to achieve the
benefits of listing.
The object of
the present issue of equity shares includes:
1. Setting up
of new manufacturing units at Ahmedabad, Lucknow, Medak
(Andhra Pradesh) and anadditional unit in Maharashtra.
2. To purchase
Plant & Machinery for its existing Factory in Mumbai.
3. For Capital
expenditure on Mobile Marketing.
4. Renovation
of existing Office Building & addition to existing
Office Building at Deonar, Mumbai.
5. Investment
in Golden Harvest Middle East (FZC), UAE.
6. To meet the
working capital requirements of our Company . 7. To meet
General Corporate Expenses . 8. To meet the issue
expenses.
9. To list the
Equity Shares of our Company on Bombay Stock Exchange
Limited (BSE) and National Stock
Exchange of
India Limited (NSE) which will enhance our Company's
brand name and provide liquidity to its existing and
future shareholders.
We intend to
utilize the proceeds of the Issue, after deducting all
Issue related expenses (Net Proceeds) tofinance the
business plans.
The main
objects and objects incidental or ancillary to the main
objects set out in the Memorandum of Association permits
us to undertake our existing activities and the
activities for which funds are being raised by us,
through the present Issue. Further, we confirm that the
activities we have been carrying out until now is in
accordance with the objects clause of our Memorandum of
Association.
The fund
requirement and its deployment is based on our i nternal
management estimates and has not been appraised by any
financial institution or bank. These are based on
current conditions and are subject to change in light of
changes in external circumstances, costs, other
financial condition, business or strategy. The fund
requirement below is based on our present business plan.
Given the nature of the industry, and the level of
competitive environment and technology transformation
aspects related to the industry in which we operate, we
may have to revise our business plan from time to time
and consequently our capital requirements may also
change. This may include re-scheduling of our capital
expenditure programme and increase or decrease in the
capital expenditure for a particular purpose vis-…-vis
current plans at our discretion.
In case of any
such variations in the actual utilization of funds
earmarked for the above activities, increased fund
requirements for a particular purpose may be financed by
surplus funds, if any, available in respect of the other
purposes for which funds are being raised in this Issue.
If surplus funds are unavailable, we will meet the
increased requirement of fund for any specific activity
from our own internal accruals and/or debt. Funds raised
over and above the earmarked requirements would be
deployed for growth opportunities and general corporate
purposes.
The
requirement of funds as estimated us shall be utilised
by us immediately on the availability of
funds,subsequent to the closure of the Issue and
allotment of Equity Shares. |
