ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Balaji Steel Corporation

Lohia Polyester Lohia Polyester of Pawan Kumar Lohia is offering on September I under PNB Caps as the lead managers equity shares worth Rs 3.60 crorc (Rs 3.42 crorc to the public) for subscription at par towards an expansion plan to increase its capacity of texturiscd yarn from 150 tonnes per annum to 1,350 tonnes per annum of PFY flat, rotoset and tcxturised yarn, by installing one draw-twisting machine, one draw-texturising machine and four uptwisting machines. The additional facilities are being established adjacent to the existing unit near Surat. Syndicate Bank has appraised the project cost as Rs 6.80 crore, which is to be covered with equity of Rs 5.60 crore, lease finance of Rs 75 lakh, internal accruals of Rs 20 lakh and cash incentive by Gujarat government of Rs 25 lakh. The company has acquired part of the machinery and placed orders for the remaining on Lohia Machinery Manufacturers, Himson Textile Engineering Industries and Batliboi and Co. All equipment is expected to be installed by September and commercial production is to commence in mid-October. No bank or financial institution is involved in the financing of the project.

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