(RTTNews) - Ess Dee Aluminium, manufacturer of aluminium foils and packaging material for pharma and FMCG industry, plan to hit the capital market with an IPO of 69.60 lakh equity shares of Rs. 10 each at a premium through the book-building route some time in early November.
The company stated that the proceeds from the issue would be utilized to increase its aluminium rolling capacity from the present 9,100 tonnes per annum to 18,000 tpa by June 2007.
The company would also expand its manufacturing facilities in Goa and Daman at an investment of around Rs. 115 crores. The total investment, including for upgrading existing units, would be around Rs. 160-170 crores. The company also plans to extend its capacity of PVC products fro 4,20 tonnes at present to 5,800 tonnes.
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