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Wednesday, September 20, 2006

Nissan Copper to fund expansion via Rs 250mn IPO

Nissan Copper is slated to raise Rs 250 million through an IPO, while it will raise Rs 100 million through a term loan from State Bank of India, reports Myiris.

The funds raised shall be utilised for the capacity enhancement programme. An additional working capital limit of Rs 100 million has been sanctioned by SBI.

The company, in order to meet the increasing demand for its products, plans to make the Silvassa Unit an integrated copper plant. The company currently manufactures copper tubes, pipes, flats, rods etc. The expansion plan envisages augmenting the copper pipes capacity from 1200 TPA to 2400 TPA. Meanwhile, the copper ingots capacity is also on the cards. The capacity is to be enhanced from 7200 TPA to 10800 TPA.

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