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ITL set to bid for two European tractor cos
International Tractors Ltd (ITL), manufacturer of the Sonalika brand of tractors, is looking at bidding for two European tractor companies. The bids for the two companies are likely to be finalised in the next couple of months.
The company has also postponed its plans of tapping the capital market to the beginning of the next fiscal. "We had earlier planned to go for an initial public offer (IPO) by the end of the current fiscal. But now we will look at the results this year first and then go for the IPO," Mr Mittal said.
As per the new plans, ITL proposes to go public during the first quarter of the next fiscal. It plans to raise around Rs 800 crore to fund its expansion plans.
