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Graphite India seeks nod to raise Rs 5,000 crore

Kolkata: Graphite India has sought the shareholders' nod to raise upto Rs 5,000 crore to meet the company's resource requirements including capex and acquisitions.

The fund will be raised in one or multiple tranches in the Indian or overseas markets, said a company resolution which was sent to the shareholders.

Graphite India did not elaborate on any specific capex plan.

The company was planning to scale the capacity of its Durgapur unit in West Bengal after the closure of the Bangalore plant following green tribunal orders.

The Bangalore plant had an output of 13,000 tonnes and contributed 17.05 per cent to the turnover of the company Ltd in 2017-18.

The company had said it would debottleneck its Durgapur unit, along with the Nasik facility to cover tRead More – Source
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