Ess Dee Aluminium close to 2 acquisitions

According to sources, Ess Dee Aluminium is close to two acquisitions, one in India and one abroad. The total deal size is estimated to be worth around USD 75 million. Ess Dee has already identified the companies and they are in the final stages of closing the deals, which should be in the next two to three months. Ess Dee Aluminium's deal size works out to two times their consolidated FY07 net sales which were at Rs 140 crores. This could be a huge figure for the company if it comes true. The company management, meanwhile, said that as a business policy, they cannot comment on market speculations. The board has recently approved an issue of raising USD 150 million via FCCB, GDR or any other equity route. Hence, financing is not a problem. Also, they have increased their authorized share capital from Rs 30 crore to Rs 35 crore and have increased their FII limit to 49%. There are also rumours that they are in talks with a couple of financial investors to dilute their 5% stake in the company. That could be another area from where money could chip in. But a big thing is that they are close to signing a deal with two companies. The Indian acquisition will be done first and the overseas acquisition, later.