Aster Silicates Issue Open Date 24-Jun-10   Issue Closing Date 28-Jun-10   Application Money 100   Allotment Money   Price Band 112 - 118   Minimium Application No. 50   Issue Size (Shares) 4500000   Market Lot 1   Objective The present Issue is being made to raise the funds for the following purposes:1. Expansion of Manufacturing facilities2. Additional Working Capital Requirements3. Public Issue expenses Category No. of Shares No. of Shares Subscription Ratio   Offered / Reserved Bid For   Non-Institutional Investors   711161   8861800   12.46   Qualified Institutional Buyers   2370535   32000   0.01   Retail Individual Investors   1659375   12289800   7.41   Business Description Our Company is engaged in the business of manufacturing of sodium silicate which includes foodgrade sodium silicate, special drilling grade silicate and detergent grade silicate. We producesodium silicate both in glass and liquid form. Food grade sodium silicate is used in themanufacturing of Silica precipitate and Gel which finds its applications in toothpaste, salt,cosmetics, glucose powder, tyre & rubber and pesticides etc. Sodium silicate, (special drillinggrade silicate) is also used in off-shore drilling and for reactivation of old oil and gas fields. Thesodium silicate manufactured by us is also used in water-proofing, infoundries and for investmentcasting, paper, silica gel, textiles and detergents.Sodium silicates serve a wide range of end use markets, including soaps and detergents, pulpand paper, paint and pigments, catalysts, and metal cleaning. Sodium silicate is the generic namefor a series of compounds derived from soluble sodium silicate glasses. These materials areaqueous liquids containing sodium oxide (Na2O) and silicon dioxide (SiO2) in various ratios.Varying the amount of SiO2 and Na2O gives solutions having differing properties and diverseindustrial applications.Currently, we operate from two units in Gujarat having aggregate installed capacity of 150 MT ofglass/day. Unit I has three furnaces with an average combined capacity of 100 MT of glass/day.All the three furnaces are triple pass regenerative and recuperative end fired glass furnace withmultiple fuel arrangement, capable of using bio gas, coal and also natural gas. Unit II has a singlefurnace with a capacity of 50 mts of glass/day, which is also triple pass regenerative andrecuperative end fired glass furnace.Through this proposed project, our Company intends to install a special designed triple passregenerative and recuperative Furnace of 100 MT capacity each capable of working on biogaswith a facility of having duel fuel arrangement for working on other fuel like Natural Gas etc. Thefurnace shall be capable of being operated both manually and automatically, and shall alsopossess versatility for manufacturing Sodium Silicate in glass and liquid format. For theexpansion of our manufacturing facilities at Bharuch, we initially intend to use Natural gas fromGujarat Gas Company Limited as a source of fuel. However, gradually, we intend to shift the fuelsource to Biogas, and have Natural gas as a standby arrangement.Land and Location:The existing land at Jhagadia Industrial Estate, Bharuch has an area of 14,760 sq.mts, whereUnit II of the existing manufacturing facility is located. Land admeasuring approximately 10,000sq.mts, which is unused is proposed to be utilised for an expansion of 300 MTPD for theproposed new project. Back Address A- 602 Fairdeal House Swastik Char Rasta Off C G Road Navrangpura Ahmedabad , Gujarat , 380009 Phone : + 91 79 26422840 Email : ipo@astersilicatesltd.com Website : www.astersilicatesltd.com Registrar Sharepro Services (India) Pvt Ltd 3 Chintamani Apartments Lane No.13 824/D Bhandarkar Road Pune Listed at BSE, NSE Lead Manager Saffron Capital Advisors Pvt Ltd Promoters Mahesh A. Maheshwari Namrata Mahesh Maheshwari Promoter's Holding Total Share Capital 10361111 Offered to Public 4500000 Promoter's Holding (Pre-Issue) 100 Promoter's Holding (Post-Issue) 49.8