The company has acquired 14,000 sq mtrs of land out of which the built-up space of 5488 sq mts. The ceo Shashank Patkar said the company will be investing Rs 14 crore in this facility. This is being partially funded through a term loan of Rs eight crores from the Exim Bank and internal accruals.

Around Rs 9.30 crore will be raised through the public issue opening on January 28. On offer are 13,10,000 equity shares of Rs 300 each aggregating Rs 39 crores out of which the new equity comprises Rs 3,10,000 amounting to Rs 9.30 crores while the remaining 10,00,000 shares are being offered for sale by three existing shareholders. Shareholders whohad put in Rs 10 in year 1994 would have had a cumulative earnings of Rs 750 per share.