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Friday, February 03, 2006

Pudumjee launches hygiene products brand, IPO on cards

Pudumjee Hygiene Products, PHPL, a wholly-owned subsidiary of the Pune-based Rs 400 crore (Rs 4 billion) Pudumjee Paper Group, is planning to float initial public offering, IPO, in 2008, reports Business Standard.

The company is also looking at expanding capacity at its Hinjawadi plant and setting up new plants in the southern and northern regions.

M P Jatia, group Chairman and President, PHPL, eyes a turnover of Rs 100 crore (Rs 1 billion) by 2008 as the popularity of hygiene products has been on the rise in the country. “We plan to go public then,” Jatia said.

The company on Wednesday announced the launch of its hygiene tissue range branded ‘Greenlime.’ Jatia said the Greenlime range is being produced at the company’s new Hinjawadi facility set at an investment of Rs 200 crore (Rs 2 billion).

“We plan to set up plants for producing Greenlime range in the South and North too. But we are yet to take a final decision on the locations,” he said, adding the two plants would together need a capital outlay of Rs 10 crore (Rs 100 million).

The Greenlime range includes facial tissues, hand towels, napkins, kitchen rolls and bathroom tissues.

“We are laying a lot of stress on institutional sales and would be targeting customers such as star hotels, multiplexes, call centres, BPO companies, shopping malls and other retail stores. We would also like to target airports, airline companies, railways and municipal corporations. We are in discussion with the Airports Authority of India, airlines such as Indian and the railways. The company expects to finalise its first deal in six-eight months,” he added.

Pudumjee Pulp and Paper Mills is the largest producer of tissue papers in the country with an annual manufacturing capacity of 20,000 tonne. The company is expanding its capacity with the introduction of a new production line of 25,000 tonne capacity.

“After the commissioning of the new facility, the company will have a total capacity of 45,000 tonne per annum. It plans to start exports to neighbouring countries such as Nepal, Pakistan, Bangladesh, Maldives and Mauritius later,” Jatia added.

Source: Moneycontrol

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