20 Microns, one of the India's largest manufacturer of white minerals, has fixed the price band between Rs 50 and Rs 55 a share for its initial public offering (IPO) of
4,350,632 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue consists of a fresh issue of 67.50 lakh equity shares and an offer for sale of 26.75 lakh equity shares by Gujarat Venture Capital Fund 1995. The issue will constitute 49.10 % of the post issue paid up capital of the company.

Rating agency, Credit Analysis and Research (CARE) has assigned the `IPO Grade 3', indicating average fundamentals.

20 Microns is India's largest producer of White Minerals with an annual output of over 180000 tons from plants operating in four different regions of India. Presently, it has about 70 international customers based in 30 countries utilizing 450 products.

For the year ended March 31, 2007, the company registered an income of Rs 87.84 crore and net profit of Rs 3.57 crore as compared to an income of Rs 67.87 crore and net profit of Rs 1.80 crore for year ended March 31, 2006.

The company plans to utilize IPO proceeds towards the current ongoing expansion plans for the manufacturing capacities at various locations.

The equity shares are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE).

The book running lead manager (BRLM) is Keynote Corporate Services.