Wednesday, Mar 16, 2005
Wednesday, Mar 16, 2005 |
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By Our Special Correspondent
KOLKATA, MARCH 15. The board of Haldia Petrochemicals Ltd (HPL) will meet later this month to consider a host of issues, including allotment of equity shares to Indian Oil Corporation (IOC). The Chairman of the company, Tarun Das, said the proposed initial public offer by the joint venture petrochemical company would be made in 2005. However, indications were that it would not be possible to meet May 31 deadline stipulated for the issue by the CDR (Corporate Debt Restructuring) cell. "We have sought an extension for making the issue" he told reporters. HPL was doing well financially and would make its second round of profits in 2004-05, he added. He said the IPO, which would be through the book-building route, would fund the company's expansion plans. The company has initiated the process of getting rated by international agencies, according to Mr. Das. Mr. Das, chief mentor, Confederation of Indian Industry, here to address the students of ICFAI Business School.
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