Kerala prefers more small investors to a few big ones in a public-private infrastructure company being launched, as a large section of non-resident Keralites have shown willingness to invest in it.
State’s Industries Minister Elamaram Kareem, the chairman of the recently registered Infrastructure Kerala Ltd (InKel), said this message had already been conveyed to the investors at a meeting held in Kochi last week.
“When 26% of the paid-up capital of the company of Rs1bn would be with the government, a minimum of 26% should go to small investors. They could be both non-resident Keralites (NRKs) or people living in Kerala,” he said.
The government has decided to publicise the offer by tapping NRKs through road shows in all Gulf countries, beginning in the second week of April.
“Each share is worth Rs10,000 and the maximum number of shares that a small investor could have is 10. We are limiting this to 10 shares each because we want all people to take part in the development of this company,” said Kareem.
“It has also been agreed that big investors would come in only if we are unable to raise the Rs1bn,” he said.
He added that the state government had informed all Keralite organisations in the Gulf about this offer and they could get in touch with either the State Bank of Travancore or the State Bank of India to subscribe to the shares. The offer opens on April 23 and closes on April 30. “Every person desirous of buying shares can give it in writing to these banks and be served on a first-come-first-serve basis,” Kareem said.
InKel has also identified locations in Thiruvananthapuram and Kochi for setting up basic infrastructure for investors interested in starting sunrise industries. – IANS
State’s Industries Minister Elamaram Kareem, the chairman of the recently registered Infrastructure Kerala Ltd (InKel), said this message had already been conveyed to the investors at a meeting held in Kochi last week.
“When 26% of the paid-up capital of the company of Rs1bn would be with the government, a minimum of 26% should go to small investors. They could be both non-resident Keralites (NRKs) or people living in Kerala,” he said.
The government has decided to publicise the offer by tapping NRKs through road shows in all Gulf countries, beginning in the second week of April.
“Each share is worth Rs10,000 and the maximum number of shares that a small investor could have is 10. We are limiting this to 10 shares each because we want all people to take part in the development of this company,” said Kareem.
“It has also been agreed that big investors would come in only if we are unable to raise the Rs1bn,” he said.
He added that the state government had informed all Keralite organisations in the Gulf about this offer and they could get in touch with either the State Bank of Travancore or the State Bank of India to subscribe to the shares. The offer opens on April 23 and closes on April 30. “Every person desirous of buying shares can give it in writing to these banks and be served on a first-come-first-serve basis,” Kareem said.
InKel has also identified locations in Thiruvananthapuram and Kochi for setting up basic infrastructure for investors interested in starting sunrise industries. – IANS
No comments:
Post a Comment