Mold-Tek Packaging has raised Rs 103.6 crore through Qualified Institutions Placement (QIP) and allotted 14,00,000 Equity Shares to the eligible qualified institutional buyers at a price of Rs 740 per Equity which is at a premium of 17.60 per Equity Share i.e. 2.44% on the floor price of Rs 722.40. The company is planning to deploy these funds for its entry into Injection Blow Moulding products for regulated pharmaceuticals, Food & FMCG, Cosmetics and OTC medicine segments.
The company is also investing in new plants at Kanpur, Sultanpur-Hyderabad and doubling its capacity of existing plants in Mysore and Vishakapatnam, apart from augmenting its IML printing, die-cutting and tool room capacities.
Mold-Tek Packaging (MTPL) is the leader in rigid plastic packaging in India. The company is involved in the manufacturing of injection molded containers for lubes, paints, food and other products.
