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Wednesday, June 21, 2006

Bluplast Industries calls off IPO

Bluplast Industries has called off its IPO. While speaking to CNBC-TV18, Kamlesh Jain, managing director of Bluplast Industries said the IPO has been postponed in view of the volatile conditions in the markets.

He said the company is looking at other options to finance its expansion plans."Part of venture capital or some private participation and some debt acquisition," are the options the company is looking at.

He further added that discussions are going on with 2-3 parties and by next week some conclusions will come out

On bringing back the IPO at some point, Jain said "We will wait for the right time. Right now we have not decided when to issue it."

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