The Bangalore-based air-conditioning manufacturer Trac Airconditioning Systems will embark on a Rs 10-crore expansion programme this year.
To fund the expansion, the Rs 8-crore company is likely to come out with a public issue next year.
We will fund our expansion plans by coming out with a small public issue of Rs 3 to Rs 4 crore, an additional Rs 4 crore will be collected through the debt route and the balance Rs 3 crore through internal accruals, said Anil Dev, managing director, Trac Airconditioning.
The company will shortly enter into a marketing tie up with a multinational company to market its air-conditioners. Trac hopes to increase its turnover to Rs 20 crore by December 1997.
The company, which had initially begun operations three years back with a total investment of Rs 3 crore, has captured about 20 per cent of the market share in Karnataka in the ductable split category.
With its expansion plans, the company hopes to increase production in the Kunigal plant from 6,000 units to 24,000 units per annum.
Trac Airconditioning has also recently launched its new products - which include the PHE chiller, industrial packaged units, airhandling units and fan coil units.
