IFGL Refractories to raise resources

Kolkata, Aug 24 (UNI) IFGL Refractories Limited, a flagship company of S.K.Bajoria Group, engaged in the manufacture of Specialised Refractories for iron and steel industry, has planned to raise resources for its growth programme.

The demand for the company's products had been on the rise and therefore the company had planned to strengthen and expand its production base as well as its marketing and distribution network both in domestic and international markets.

The growth will be either through brown field expansion or new acquisition.

The company was chalking out details of the financial requirements and pending these, an enabling resolution to raise resources by borrowing or by issuance of securities had been passed at the Annual General Meeting of the company today.

At the meeting the shareholders also approved payment of 17.5 per cent dividend on equity shares for financial year 2006-2007.

This was the fifth consecutive year that the company had paid dividend.

UNI