Our Bureau

Kolkata , June 3

TWO little-known investment companies in Kolkata have surfaced as the largest stakeholders of Uniply Industries, which is slated to enter the capital market through its maiden offer.

Uniply Industries is issuing 50 lakh shares at a premium of Rs 14 for each share of Rs 10 to mobilise Rs 12 crore. The stock is proposed to be listed on the BSE.

Raimcom Sales and Dugar Merchandise figure high in the list of top shareholders, accounting for 27.7 per cent and 19.8 per cent, respectively, on the date of filing the offer document with the Registrar of Companies.

The two companies, which have a common address, will have their shares locked in for three years as part of `promoters' contribution'. Specific written instructions have been obtained already, the offer document has mentioned.

Uniply is currently a closely held venture, with less than 30 shareholders on the date of filing the prospectus with SEBI.

Dugar Merchandise, set up in 1990, deals in shares and corporate loans, while Raimcom Sales has a similar business profile. These companies have no connection with the issuer entity and operate as independent outfits, it is pointed out.

Raimcom, incidentally, was also allotted 8.5 lakh shares (of Rs 5 each at a premium of Rs 7) some time ago in lieu of loan taken from it.

The offer document has also stated that the aggregate shareholding of the promoters' group (and directors where the promoter is a corporate entity) stands at 75.33 per cent. Companies in the promoters' group account for 47.44 per cent of the aggregate.

A minimum 50 per cent of the net offer to the public will be made available for allotment to retain individuals who apply for stock for a value of not more than Rs 50,000.

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