Gulshan Sugars

Mumbai, Nov 14 (UNI) One of the largest producers of Calcium in the country, Gulshan Sugars&Chemicals today announced that they are all set to enter the capital market on November 22 this year.

It's public issue of 66,00,000 equity shares of Rs eight each will be offered at a premium of Rs 32 per share aggregating Rs 26.40 crore. The issue closes on November 28, company officials said.

The company's Managing Director Mr Gulshan Rai Jain told media persons here,'' The Company is raising the equity capital to part-finance it's plans to expand the existing capacity by setting up a 20,000 tonnes per annum Ground Calcium Carbonate (GCC) unit and also to set up an addional 3 MW captive power plant at it's manufacturing facilities at Muzaffarnagar, Uttar Pradesh. Moreover, part of the funds raised would also be utilised to meet the long-term working capital requirements of the company and for general corporate purposes.

The focus of the company has been on a single product segment such as Calcium Carbonate. The present manufacturing facility is engaged in the production of Precipitated Calcium Carbonate and Activated Calcium Carbonate, he added.

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