Passari Cellulose, manufacturer and distributor of agro-based processed food products, today said it might raise about Rs 25 crore from the capital markets to set up an additional manufacturing unit in the city.
"The Board has been authorised for fund raising through a Further Public Offering (FPO) or any other means of financing. The company would announce its precise plans soon after consulting its investment bankers and advisors," a company spokesperson said in a press release.
The decision was taken at the company's extraordinary general meeting held recently, a company statement said.
The new plant is aimed at enhancing production capacity and expanding footprint across Kerala, Tamil Nadu, Uttar Pradesh and Karnataka.
The new facility would manufacture namkeen, hard and soft candy, cookies, mouth fresheners, supari and other agro-based products, the release added.
