Online edition of India's National Newspaper
Tuesday, Sep 12, 2006
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Online edition of India's National Newspaper Tuesday, Sep 12, 2006 ePaper |
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Corporate Reporter
CHENNAI: Gwalior Chemical Industries Limited (GCIL), producer of niche chemical products for agro-chemicals, pharmaceuticals, dyes, flavour and fragrance industries has entered the capital market on Monday (September 11) with an initial public offer of equity shares of Rs. 10 each through a book building process. The price band has been fixed between Rs. 71 and Rs. 85 per share. The issue closes on September 14. The company is engaged in the manufacture of chlorinated compounds and their derivatives at its facilities in Nagda (Madhya Pradesh) and Ankleshwar (Gujarat). Addressing presspersons here on Monday, K. N. Luhariwala, Executive Director of the company, said the proceeds of the public issue will be used to finance the expansion, upgradation and de-bottlenecking of its facilities in Nagda and setting up new plants in Nagda and Ankleshwar for the manufacture of benzyl esters and acid chlorides and viscose dye pigments.
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