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Premji-backed Gold Plus Glass Industry plans biggest capacity expansion of 700,000 metric tonnes
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Premji-backed Gold Plus Glass Industry plans biggest capacity expansion of 700,000 metric tonnes
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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.
Market Movers: What led to buying in Airtel, BPCL; auto stocks in huge demand
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As many as 325 stocks hit their 52-week highs on Tuesday. Adani Ports, BPCL, Grasim Industries, Motherson Sumi, NMDC, NTPC, Tata Motors, Tata Power and Vedanta were among the top names.
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BPCL sold Numaligarh refinery for Rs 9,876 crore. The sale clears the way for privatisation of India s second-largest fuel retailer. Shares of the company rose over 3 per cent to Rs 469 after the board approved the sale.
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NEW DELHI: Positive global cues and encouraging data from Indian companies kept buying in Dalal Street intact for the second day on Tuesday. Auto and IT sectors were among the most vibrant.
davidFebruary 18, 2021 6
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