MUMBAI: Premji Invest-backed Gold Plus Glass Industry, a local glass manufacturer is planning to raise as much as Rs 2,400 crore through a combination of debt and equity to fund its greenfield expansion ramping up productions.
The company is said to have appointed KPMG as an advisor for the proposed fundraising. It also aims for a public listing at a later stage.
The local manufacturer is looking to raise about Rs 600 crore via equity dilution to any institutional investor, two people with knowledge of the matter told ET. While most of the corpus would be raised via debt – loan or bonds, some internal accruals are likely to be tapped for the same.
The GreenPro label is promoting sustainable construction
As the country targets an ambitious 10-plus billion sqft of green building footprint by 2022, green building materials will be much in demand.
G Raghupathy, Deputy Director General, CII, and Chairman of the Asia Pacific Network of the World Green Building Council, estimates demand for credible green products and technologies would touch ₹18 lakh crore by 2025.
The green building initiative in India is largely driven by the CII-Sohrabji Godrej Green Business Centre in Hyderabad. It has over 6,287 green building projects coming up with a footprint of over 7.75 billion sqft. All these are registered with the Indian Green Building Council (IGBC) and is one of the largest green building footprints in the world.