Emmbi Polyarns, which makes polymer- based products for packaging, water conservation and road building products, will hit the capital market on February 1 to raise around Rs 43 crore through initial public offer.
"The IPO of 95,74,000 equity shares of Rs 10 each at a price band of Rs 40-45 will close on February 3," company's MD Makrand Appalwar told reporters here today.
The net issue to public would constitute 54.72 per cent of the fully diluted issue paid up capital of the company.
"We are looking to expand facility to increase the present installed capacity from 5,000 MTPA to 17,800 MPTA. The expansion project is proposed to be located at Silvassa in Dadra and Nagar Haveli," Appalwar said.
The Mumbai-based company has been engaged in the manufacture and sale of jumbo bags and woven sacks and various woven polymer-based products such as container liners, protective irrigation system, canal liners, flexi tanks, car covers etc.
