Proto Infosys to set up Rs 150 cr plant in HP

New Delhi, Feb 26 (UNI) Proto Infosys Ltd today said it will set up a manufacturing facility in Himachal Pradesh for making watergen machine, earthing electrode equipments and dome air from with an investment of Rs 150 crore.

For this, the company's Board has proposed to increase the authorised capital to Rs 25 crore from the existing Rs 5.10 crore and issuing securities of Upto Rs 75 crore by GDR issue, a company statement said.

The company is also mulling to from a subsidiary in Dubai for marketing and manufacturing of its products line.

The name of the company is likely to change to Proto Technologies Ltd, subject to the approval of shareholders and Central Government, it added.

UNI