Meghani Organics files DRHP with SEBI

Mumbai, May 17 (UNI) Meghmani Organics, whose Singapore Depository Shares are listed on the Singapore Exchange Securities Trading Limited, has filed a Draft Red Herring Prospectus (DRHP) with SEBI for the purpose of raising funds for expansion.

The equity share to be issued through this DRHP are proposed to be listed on BSE and NSE.

The Company on June 25, 2006, acquired the assets of Agronule Industries, a division of Glenmark Pharmaceuticals Limited, for setting up a multi purpose agrochemicals manufacturing facility, a Company press release here said.

Meghmani Organics is engaged in the manufacture and sale of pigments and agrochemicals.

Meghmani Organics now proposes to expand its capacity to manufacture high performance pigments by setting up a new plant adjacent to its existing facility at Vatva. It would also include pilot plant and research and development centre. It also proposes to set up multi-purpose agrochemicals plant at Panoli GIDC in Bharuch district and a 3 MW captive power plant at Chharodi, the release added.

UNI