Bluplast Ind enters capital market on June 5

Mumbai, June 2 (UNI) Bluplast Industries Ltd is entering the capital market with a Public Issue of 1,10,00,000 Equity Shares of Rs 10 each for cash at a price of Rs 32 per share.

Out of this, 10,00,000 Equity Shares have been reserved for employees aggregating Rs 3.20 crore and the net issue to the public is 1,00,00,000 Equity Shares of Rs 10 each at a price of Rs 32 per share aggregating Rs 32 crore, the release said.

The subscription list opens on June 5 and closes on June 9.

Bluplast Industries is a well established manufacturer of plastic articles, adopting the 'Injection Moulding' technologies and its product range includes Thermoware, Vacuumware, Insulatedware, Kitchenware, Utilities and pet products like Casseroles, Lunch Packs, Flasks, Water Jugs, Water Bottles, Pet Jars, Buckets, Dust Bins, etc. The Company's existing operations are based at Daman.

Bluplast has now embarked on the expansion-cum-diversification project at Daman a total outlay of Rs 36.88 crore. This involves expansion of existing installed capacity for manufacturing injection moulded products from 5400 MTPA to 9000 MTPA and setting up facilities for manufacture of high value PVC-Wood composite profiles and sheets with capacity of 4900 MTPA, the release added.

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