AMD Metplast to set up PET preform factory in Rajathan

Kolkata, Feb 09 (UNI) AMD Metplast, a packaging company, will set up a green field project to manufacture PET preform at Neermani in Rajathan mainly for the beverage industry.

Speaking at a press conference here today, AMD Metplast Managing Director Ashok Gupta said,''With this new plant, the PET preform capacity of the two firms would be increased from 4620 Million Tonnes to 7530 Million Tonnes.'' Currently the company has a PET preform manufacturing unit in Gaziabad.

AMD Metplast would be raising funds from the market throungh an Initial Public Offering (IPO) to meet the capital expenditure of Rs 23 crore for setting up the factory. Apart from a crown manufacturing unit in Rajasthan, there are two more plants in Gaziabad.

AMD Metplast is entering the capital market with public issue of 1,01,66700 equity shares of Rs 10 each through 100 per cent book building route. The price band for the issue is rs 65 to Rs 75. The issue would be open from February 15 to 23.

The funds riased from the IPO would also be utilised to part finance long term working capital requirements of rs 20 crore and repayment od debt to the tune of Rs 12 crore.

AMD's main clientele are Coca Cola, Pepsi, UB and SAB. The equity shares of the company are proposed to be listed at bombay Stock Exchange and National Stock Exchange of India Ltd.

UNI