*Sanwaria Agro Oils Ltd* plans to raise Rs 150cr over the next 2 months to expand its soybean crushing and refinery capacity and to buy plantations overseas
The company will raise Rs 100cr through equity route like QIP, GDR or private placement and the remaining through debt. SAOL was incorporated in 1991 and owns solvent extraction and refinery units at Itarsi, Mandideep, Betul and Harda in Madhya Pradesh. It has a 3,250 metric tonnes per day of crushing capacity and 350 tonnes per day of installed refinery capacity. The company sells edible oils under the brand names Sulabh, Narmada and Sanwaria. It posted a PAT of Rs 34.28cr for 9 months ended 31 December 2009. It plans to set up a 150 TPD refinery at Mandideep in Madhya Pradesh. It would also set up crushing units of 50 TPD to produce bakery vanaspati oil, another 200 TPD unit for soya flour crushing and a 100 TPD unit for soya bari. Sanwaria is looking to buy stakes in soybean plantations in Ethiopia, Latin America and Indonesia. The deal is expected to close by September. In Latin America the acquisition will be a part of a consortium under the umbrella of the Solvent Extractors Association Sanwaria Agro Oils Ltd is also pursuing two to three deals for acquisition of sick crushing units. The company has earmarked Rs 25cr from its internal accruals to part fund the acquisitions. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
