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Tuesday, May 22, 2007

Decolight to issue shares to raise capital for expansion

Decolight Ceramics, a manufacturer of vitrified ceramic tiles, plans to enter the capital market by issuing equity shares of Rs 10 each at a price band of Rs 45-54 per share.

The company plans to raise Rs 43.45 crore through a 100% book building process.

The issue opens on May 24 and closes on May 29.

Chairman Girishbhai Pethapara says The objective of the issue is to raise capital to finance its expansion, which includes raising capacity of vitrified tiles from 6,000 sq. m to 12,000 sq. m, per day.

It has also proposed to set up two wind generators having a capacity of 1.25 MW and 2.1 MW each.

The company also plans to increase its Aluminium Composition Panel production to 5,000 sq. m per day.

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