Decolight to raise Rs 43.45 cr through IPO

Rajkot, May 23 (UNI) Morbi-based Decolight Cermic Ltd would raise Rs 43.45 crore through public issues.

Addressing medipersons at Morbi today, Company Managing Director Girishbhai Pethapara said the issue opens tomorrow and closes on May 29.

Mr Pethapara said the Company plans to expand the project of doubling its capacity of virtified tiles to 12,000 sq metre per day from 6,000 sq metre.

Decolight, manufacturer of virtified ceramic tiles is also planning to foray into manfacturing of aluminum composite panels (ACP) for which the company has set up a manufacturing facility at a cost of Rs 3.35 crore.

Mr Pethapara said 'ACP' is a new concept in India and the segment offers huge growth potential as real estate market is booming.

He said that China has 400 ACP manufacturing units.

To reduce the power cost, the company will set up 4.6 MW wind turbine generators in Kutch district, he added.

UNI