Gouri Prasad Goenka has decided to offload part stake in Andhra Cements to a financial investor as part of the group's effort to turn it around.Goenka said the company was talking to two financial investors, and would zero in on one over the next one week. However, the dilution of stake would be less than 15% so that it does not attract the open offer guidelines of Sebi. Currently, promoters hold 86-87% in Andhra Cements.Goenka said the company was still sick and the whole objective was to revive it. Andhra Cements was planning a preferential issue for the purpose of increasing the authorised share capital from Rs 70 crore to Rs 115 crore. An extraordinary general meeting (EGM) would be convened for seeking shareholders' approval for increasing the authorised share capital.Goenka said, as a first step, the funds would be used for modernising the plant which was partly operational, bringing down the cost of production and liquidating some long-term debt. The plant had a production capacity of 1.5 million tonne.Goenka expected the plant to turn around by 2006-07. An expansion could be considered only in the next phase, he added.The original promoter of the company handed over the reins to Goenka in 1994 when the company was already under the Board for Industrial and Financial Reconstruction (BIFR).The company has been operating under the sactioned rehabilitation scheme of the BIFR dated June 16, 1994.