Universal Cables Ltd undertakes capacity expansion
Universal Cables Ltd had announced manufacturing capacity expansion of Power & Control Cables, LT & HT Power Capacitors and Thermoplastic Compounds/Zero Halogen Flame Retardant Compounds (all types and specifications). The production capacity expansion has been undertaken with the prime objective of aligning the company's manufacturing facility at Satna (M.P.) to keep pace with the envisaged growth in demand and migrate to the evolving technologies for manufacturing of Power & Control Cables, LT & HT Power Capacitors and Thermoplastic Compounds/Zero Halogen Flame Retardant Compounds
The existing capacity of Power & Control Cables of all types including other insulated Cables is 11,000 K.M. per annum and LT & HT Power Capacitors of all types equipped with APFC Panel facility is 1,500 MVAR per annum.
The expansion of production capacity of Power & Control Cables of all types including other insulated Cables from 11,000 K.M. per annum to 18,000 K.M. per annum.
The expansion of production capacity of LT & HT Power Capacitors of all types equipped with APFC Panel facility from 1,500 MVAR per annum to 4,500 MVAR per annum and establishment of production capacity of all types of Thermoplastic Compounds / Zero Halogen Flame Retardant Compounds by 3,600 M.T. per annum.
The Total outlay of fixed capital investment of approx. Rs. 117 Crores. The company has commenced production with effect from 18th September, 2020.
HSIL Ltd announces equity buyback
Board has approved Buy back of equity shares through market purchase at a maximum buyback price of Rs. 105.00 per Equity Share payable in cash for an aggregate amount of Rs. 70,00,00,000 (Rupees Seventy Crores)
The Maximum Buyback Offer Size represents 7.19% of the aggregate of the total paid up Equity share capital and free reserves (including securities premium) of the Company based on the audited standalone financial statements of the Company for last financial year ended on 31st March, 2020
GMM Pfaudler OFS
Promoters will be selling up to 40.93 lakh shares or 28% stake through an Offer for Sale. Floor price of Rs 3,500 per share is a 33% discount to Monday's closing. The total share sale amounts to Rs 1,433 crore. Base offer is for 25.71 lakh shares (17.59%) with an oversubscription option of 15.22 lakh shares (10.41%). The OFS for non-retail investors opens today while that for retail investors opens tomorrow. Sellers include Pfaudler Inc, Millars Machinery and Urmi Patel.
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