lumax auto technologies limited - Securities and Exchange Board of ...

Lumax Auto Technologies Limited
Objects of the Issue
The main objects of the issue are for investment in Lumax DK Auto Industries Limited (LDK),
our subsidiary, to set up automotive lighting unit at Pantnagar, Uttaranchal, to set up a leveling
motor unit and enhancement of infrastructure facilities at Manesar near Gurgaon, Haryana, to
raise capital for setting up of chassis assembly at Bhosari near Pune, Maharashtra, expansion
and modernization of current manufacturing facilities at Chakan, near Pune and Waluj, near
Aurangabad, Maharashtra, modernization of developing centre at Chinchwad, near Pune,
Maharashtra, and meeting the issue expenses.
The other object of the issue is to achieve the benefits of listing and to provide liquidity to our
existing shareholders.
The main object clause and objects incidental or ancillary to the main objects clause of our
Memorandum of Association enables us to undertake our existing activities and the activities for
which the funds are being raised by us, through this issue.
Funds Requirement
The Company has estimated funds requirement as under:
(Rs. In Lakhs)
Sr No Particulars Amount
1 Investment in LDK, our subsidiary
i) to set up automotive lighting unit at Pantnagar, Uttaranchal
ii) to set up leveling motor unit at existing Manesar unit in Haryana
iii) for enhancement of infrastructure at existing Manesar unit in
Haryana
20
2,343.00
390.29
79.50
2 Set up cost of chassis assembly unit at Bhosari near Pune, Maharashtra 1,187.00
3 Expansion and modernization of existing manufacturing unit at
Chakan, near Pune &Waluj, near Aurangabad, Maharashtra
658.00
4 Modernization of development centre at Chinchwad near Pune,
Maharashtra
115.00
5 To meet the expenses of the Issue [�]
Total [�]
Means of Finance
The funding plans proposed by the company are as under:
Sr. no. Particulars
(Rs. In Lakhs)
Amount
1 Equity
a. Private Placement
b. IPO
776.00
[�]
2 Term Loan 1,903.50
3 Internal Accruals 84.29
Total [�]
No part of the issue proceeds will be paid as consideration to Promoters, Directors, Key
Managerial Personnel, Associates and Group Companies.
Term Loan
The details are given below:
Sr No Name of the Bank Amount
(Rs. In Lakhs)
Major Conditions of Sanction
1. State Bank of India – Balance of old 33.50 Rate of interest - 10.25% p.a.
sanction- CPC/PUNE/04-05/105 dated
Tenor – payable in 66 months