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

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Gurdarshan Leathers

Praj Industries ONE of the first companies to receive venture capital assistance from TD1CI, Praj Industries (PI) brought the modern cascade continuous fermentation process to India in collaboration with Vogelbusch. Through its research and development efforts, the company modified the process to suit Indian conditions leading to a vastly improved version for application in the tradition-bound distillery sector. It now has a market share of above 60 per cent of the Indian ethanol industry and has orders worth Rs 70 crore on hand including an export order valued at over Rs 1 crore: Having already begun extending its expertise in fermentation, distillation and heat transfer to the markets it has identified, the company is now embarking on an ambitious diversification plan covering these fields for which purpose it has entered into several collaborations with leading European companies, lb reduce its dependence on subcontractors, the company proposes to expand its manufacturing facilities at Wadgaonsheri and Bhosari, near Pune. PI plans to integrate its marketing and engineering divisions so as to facilitate application-oriented designing and enable prompt customer-oriented responses to enquiries, To part finance its Rs 7.65 crore project PI plans to tap the capital market with a public issue of 7.75 lakh equity shares of Rs 10 each at a premium of Rs 70 per share. The issue which will open for public subscription on January 18 will be lead managed by ITC Classic Finance and BOI Finance.

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