Veto to set up new plant in Jaipur

Jaipur, Jan 20 (UNI) Electrical items major Veto Switch Gears today announced the setting up of a new power cable plant in Jaipur.

Chairman Vishnu Gurnani said the company had already signed an MoU the Mahendra SEZ for acquiring 15 acres of land for the plant in Jaipur.

He said the company plans to come out with an IPO for mobilising Rs 125 crore in April-May to part finance the project.

He said plans are also afoot for acquistion of some overseas companies in the next few years to emerge as a leading player in this segment in the near future.

Mr Gurnani stated that the company soon plans to lauch exclusive outlets where entire range of product would be available under one stop shop for all of one's electrical items requirements.

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