1,529,000 Equity Shares of Quality Foils Limited are subject to a Lock-Up Agreement Ending on 21-MAR-2024.
March 20, 2024
Share
1,529,000 Equity Shares of Quality Foils (India) Limited are subject to a Lock-Up Agreement Ending on 21-MAR-2024. These Equity Shares will be under lockup for 364 days starting from 23-MAR-2023 to 21-MAR-2024.
Details:
Pursuant to the Regulation 236 and 238 of SEBI ICDR Regulations, an aggregate of at least 20.00% i.e 5,71,000 of the post issue Equity Share capital of our Company held by our Promoters shall be locked-in for a period of three years from the date of Allotment in this issue. As on date of this Prospectus, our Promoters holds 7,46,400 Equity Shares constituting 29.15% of the Post issue Issued, Subscribed and Paid-up Equity Share Capital of our Company, which are eligible for Promoter?s Contribution.
Pursuant to Regulation 238(b) and 239 of the SEBI ICDR Regulations, other than the Equity Shares held by our Promoters, which will be locked-in as minimum Promoters? contribution for three years, all pre-issue 15,29,000 Equity Shares shall be subject to lock-in for a period of one year from the date of Allotment in this Offer.
Quality Foils (India) Limited is a manufacturer and exporter of cold rolled stainless steel strips/ coils and stainless-steel flexible hoses pipes. The Companyâs two product categories are cold rolled stainless steel coils/strips, and stainless-steel flexible hose pipes. The Company supply its products, such as cold rolled stainless steel coils/strips in for manufacture of SS tube/pipe, utensils, cutlery, kitchen sinks, stainless steel flexible hoses and automobile components; and flexible hose pipes to applications, such as high temp and medium pressure for hydraulic oil, hot water, steam and gas applications, chemical resistant, exhaust systems of steel, power, petrochemical, sugar, automobile, and many other heavy engineering sectors. The Company sells its products both in the domestic as well as international markets. The Company exports its products to more than seven countries including Germany, the United Kingdom (UK), Philippines, Sri Lanka, Turkey, Poland, and Bogota Colombia.