To fund mega expansion plan at Morbi, Gujarat
Asian Granito India has filed draft papers (Draft Letter of Offer) for Rights Issue of equity shares to raise up to Rs 500 crore (USD 70 Mn). The Company has lined up Mega Expansion Plan in Value Added Luxury Surfaces & Bathware Segments such as GVT Tiles, Sanitaryware and SPC Flooring segments through setting up new state-of-the-art manufacturing facilities at Morbi, Gujarat, under newly incorporated wholly owned subsidiaries. The Company is also setting up one of the World's largest Display Centres covering an area of approx. 1.5 lakh sq. feet at Morbi, Gujarat to showcase Group's entire product range under single roof. The new manufacturing facilities are expected to commence commercial operations in April 2023.Powered by Capital Market - Live News
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