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

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Birla Ericsson Optical

Birla Ericsson Optical BIRLA ERICSSON OPTICAL, promoted by Priyamvada Birla with Ericsson Cables AB of Sweden and Universal Cables and Vindhya Telelinks of the Birla group, is making a public issue of 87,50,000 equity shares of Rs 10 each at par aggregating Rs 8.75 crore. The issue will open on October 4. The issue is intended to finance the company's optical fibre cables project with a capacity of 4,000 cable kilometres per annum being put up at Udyog Vihar in Rewa district of Madhya Pradesh in technical and financial collaboration with Ericsson Cables, Optical fibre cables are extensively used for long distance communication systems, urban area networks, railway signalling and defence. The project is expected to cost Rs 47.50 crore which is proposed to be financed through equity share capital of Rs 25 crore (Ericsson Cables Rs 7.50 crore, Indian promoters Rs 8.75 crore and public issue Rs 8.75 crore), rupee term loans from IDBI and IFCI Rs 17.35 crore, non- convertible debentures placed privately with IDBl and IFCI Rs 5 crore and state subsidy Rs 15 lakh. Trial runs are expected to commence in October and commercial production in December. IDBI (Merchant Banking Division) and SBI Capital Markets are the lead managers to the issue.

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