JK Paper has attained financial
closure for its Rs.235 crore multilayer packaging paper project in Gujarat.
In mid-April 2006, the company raised
$17 million (Rs.76 crore) through an overseas issues comprising $12 million of
GDRs and $5 million in FCCBs. The issue was entirely subscribed to by Goldman
Sachs.
Earlier, the company had raised Rs.100
crore through a private placement of equity shares to International Finance
Corporation and Fenner (India). IFC has also sanctioned a Rs.70 crore term loan
for the project.
JK Paper is setting up a 60,000 tpa
multilayer packaging board project at its Central Pulp Mill in Gujarat. The
project is scheduled for commissioning by June 2006.
Also See:
JK
Papers to raise $17 million overseas (21-Mar-06)
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