Manali Petrochemical has received its board’s approval to raise $50 million through issue of further securities in the domestic or overseas markets by way equity shares/Global Depository Receipts/American Depository Receipts/Foreign Currency Convertible Bonds/ Convertible Debt instruments, etc. in one or more tranches.
The company will use the raised amount to enhance its business activities both in the domestic and overseas market, through acquisition of existing companies, setting-up manufacturing infrastructure, focus on product development and introduce new products etc. across, various operating markets.
Manali Petrochemicals is a leader in the production and marketing of Propylene Oxide, Propylene Glycols and Polyols in India. The Company operates two grassroot production facilities at Manali to manufacture Propylene oxide (PO), Propylene Glycol (PG) and Polyols.
