Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: TDS
 
 
« Sales Tax »
 To protect its status, state forms panel to draft legislation on GST
 India Fails to Break Deadlock on New Sales Tax
 Sales tax staff protest against goods service tax council
 Income tax survey on city jeweller
 Service tax levy to weigh on upstream companies’ earnings
 5 pc tax on online sales awaits Cabinet approval
 Amendment to Additional Sales Tax Act unconstitutional: High Court
 Maharashtra will soon achieve Rs one lakh cr sales tax : CM Devendra Fadnavis
 CBEC chief bats for minimal exemptions for India Inc under GST
 Issuance of Free Sale & Commerce Certificate to Merchant Exporters
 Why model GST law does not give confidence to exporting community

Avon Weighing Systems IPO opens on June 9
June, 05th 2008

Avon Weighing Systems Limited, a company engaged in the business of selling weighing systems in India, proposes to enter the capital markets on 9th June 2008 with a public issue of 1,37,33,033 Equity Shares of Rs 10 each at par aggregating to Rs 1373.30 lacs. This comprises of promoters contribution of 38,96,633 Equity Shares aggregating to Rs 389.66 lacs, leaving a net offer to the public of 98,36,400 Equity Shares aggregating Rs 983.64 lacs constituting 59.33% of the post issue paid-up capital of the Company. The Issue closes on 12th June 2008. CARE has assigned IPO Grade 2 to the Issue. The Equity Shares are proposed to be listed on BSE. Keynote Corporate Services Limited is the Lead Manager for the Issue and Datamatics Financial Services Limited is the Registrar to the Issue.

 The Company proposes to part finance its Rs 17.30 crore plan through the net proceeds of the Issue. The plan include setting up of facility for manufacturing of a range of weighing systems, open four showrooms for display and sale of its weighing systems in Mumbai, Delhi, Chennai and Hyderabad, and purchase of additional office premises in Mumbai. The project is proposed to be funded through IPO of Rs 9.83 crores, promoters contribution of Rs 4.36 crores, internal accruals of Rs. 0.50 crore and a term loan of Rs.2.60 crores from Bank of India.

 The proposed manufacturing plant will be set up at Baddi in Himachal Pradesh with technical assistance from Tanita Corporation of Japan. Avon will be able to enjoy fiscal incentives provided by the Himachal Pradesh government for setting up plant at Baddi such as exemption of payment of Central Excise duty for 10 years, 100% income tax exemption for initial 5 years and thereafter 30% for further period of 5 years, Capital investment subsidy for 6 years @15% on their investment in plant & machineries subject to a ceiling of Rs. 30 lacs, Central Sales Tax @1%,  Electricity Duty exemption on captive power generated from D.G set/Hydel unit upto 31/03/2009, Price preference upto 15% for SSI. The Company has acquired land and building admeasuring 20982 sq. feet at  Himuda Industrial Area, Bhatoli Kalan, Baddi, Himachal Pradesh for the proposed plant.

 Avon is the authorised dealer and one of the distributors of Tanita and A&D products (weighing systems) in India since 1999. Tanita Corporation (Tanita) and M/s A&D Company Ltd. (A&D), both companies from Japan, are weighing scale manufacturers in their range of products. Weighing systems from both are renowned for their precision and consistency. These balances are particularly used in industries such as gems and jewellery, pharmaceuticals and chemicals, research and development laboratories, defense, etc, where precision weighing is critical.

 Avon also provides consultancy to various industrial houses, on the latest weighing systems and applications and is focused on software to enhance the applications of weighing scales. Presently Avon is providing these services as a marketing tool for distributor of the products of Tanita and A&D. Avon has distributed its products to various industrial users such as Novartis India, Sudershan Chemicals Limited, Lupin group, Associated Capsules Limited, Palm pharma. Avon has provided consultancy services to various industrial users like Godrej Industries Ltd., Sudershan Chemicals, Acrow India Ltd., Cubernetik Technologies Ltd., Aprotech Engineers Ltd., Mass Engineers & Suppliers etc. for customizing the products as per their needs.

 Avons total income for the year ended 31st March 2008 was Rs 52.14 crores as against Rs 40.17 crores for 2006-07 and PAT was at Rs 1.85 crores as against Rs 1.37 crores.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions