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Nitin Fire Protection plans to expand in Europe
Nitin Fire Protection Industries rallies as the company decides to expand its footprint in Europe. In an exclusive interview with CNBC-TV18, Rahul Shah, Executive Director, Nitin Fire Protection Industries, gives the exact roadmap.
Nitin Fire Protection Industries rallies as the company decides to expand its footprint in Europe. In an exclusive interview with CNBC-TV18, Rahul Shah, Executive Director, Nitin Fire Protection Industries, gives the exact roadmap.
Here is a verbatim transcript of the exclusive interview with Rahul Shah on CNBC-TV18. Also watch the accompanying video.
Q: In the month of January you had announced that you would be foraying into the European markets as well and there is a lot of buzz now about some sort of finalization of that plan, could you confirm to us what your plans are, what the geographies that you are looking at and what is the timeline?
A: We had mentioned that we are looking at a footprint into the European market because we already have a presence in India, some parts of South East Asia and Middle East, and Europe is one of the biggest markets of fire protection which we are venturing into. So we are looking at couple of companies there and setting up our own subsidiary there which will happen in first coming quarter.
Q: How much of investments have you outlined for this particular foray?
A: Currently the plans are under finalizations for those venturing into the European markets. We have already tied up for those funds which we envisage for moving into those markets.
Q: What instrument is it going to be for this fund raising that you spoke about?
A: We already have bank funds which are tied up for expansions currently.
Q: And how much are they?
A: I won't be able to comment on it because it is still under plan.
Q: About Rs 225 crore is what you had planed to raise or rather you board had approved fund raising of, where has that gone from here on? How much do you plan to raise in the first tranche and what instrument would you be using?
A: That is an outer limit approval that we have taken from the board and still the plans are not yet finalized. As and when there is anything concrete we will come up and put it forward.
Q: You did speak about USD 8-9 million, what would be the deal size if you are looking at and acquisitions? You said you had figured about a list of companies that you would be acquiring, what is the deal size ballpark you are looking at?
A: Things are still raw and not yet finalized, but almost at the final stage. So I would not like to comment currently because the team is already working on it and once it's finalized, I would revert back to you with official announcement.
