Austral Coke

SEBI prohibits Austral Coke from raising fresh capital through IPO

SEBI prohibits Austral Coke from raising fresh capital through IPOThe Securities and Exchange Board of India (SEBI), on Tuesday, has passed an interim ex-parte order, which has prohibited e & Projects Ltd from raising fresh funds through initial public offerings (IPO).

India's markets regulator, SEBI has taken the decision in response to the information from Income Tax Department for allegedly falsifying accounts of more than Rs 1,000 crore, and diverting money lifted from last year’s IPO.

Austral Coke to setup a Lam Coke Manufacturing Plant

Austral Coke to setup a Lam Coke Manufacturing PlantAustral Coke and Projects Limited has acquired 1,82,000 square meters of land at Vizag, Andhra Pradesh to setup a Lam Coke Manufacturing Plant, which will have a capacity of 6,00,000 MTPA.

The location is strategic and logistically ideal for lam coke business as it is situated between Gangavaram and Vizag ports.