Anil Products Ltd to list on BSE

New Delhi, Dec 3 (UNI) Anil Products Limited, one of the largest Corn Wet Milling (CWM) Units in India, today said plans to invest Rs 500 crores after being listed on the Bombay Stock Exchange.

The company, part of the Anil Group started in 1939, is already listed on the Ahmedabad Stock Exchange (ASE), and registered a turnover of Rs 215.26 crore in 2006-07. The net profit for the year 2006-07 stood at Rs 5.47 crore, the earning per share (EPS) being Rs 7.40.

It has an equity capital of Rs 7.40 crore. The promoters hold 58.73 per cent of the equity, while the balance is with public and institutions.

''Our listing on BSE will play a critical role in our plan to tap the emerging opportunities and expand the corn wet milling business by establishing a presence in global markets while consolidating our presence in the Indian market. It will also help more investors participate in our growth story,'' company's Managing Director Amol Sheth said.

The company plans to undertake a capital investment of about Rs 500 crores for creating capacities at various locations in India. It will also be making investments for efficiency improvement, cost management, product and process improvement, technological advances and in various areas of R&D for development of new products and new applications, both at the current and proposed new facilities.

UNI