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Jul 20, 2010, 03.27 PM IST
Sanwaria Agro will file a document for private placement tomorrow, Director Anil Agarwal told CNBC-TV18. "We will raise debt via external commercial borrowing after an equity issue."
The proceeds from the fund raising will be used for the company's expansion and capex needs, he said.
Here is a verbatim transcript of the exclusive interview with Anil Agarwal on CNBC-TV18. Also see the accompanying video.
Q: How much by way of funds are you planning to raise? Could you give us more details of the QIP as well? What would these funds be used for and how much dilution are you looking at?
A: We are passed enabling board resolution in April 2010 for the raising of fund to the tune of Rs 200 crore and our placement document will be filed today or tomorrow. So, you will get all the information.
Q: Would you be looking to raise all of this money in one tranche because we are trying to understand where exactly would you be using these funds? Would it be used for any kind of expansion plans or to pare off any of your debt?
A: Yes, it will be used fully for expansion and capex. It will be raised in tranches.
Q: Could you give us an indication of what the quantity of the first tranche might look like?
A: It will be Rs 100 crore.
Q: When we had spoken last time, you had also indicated that perhaps you might also look at debt in the fund raising part. One part would be equity and the other part would be debt. Have you tied that up?
A: After this first tranche, there will be some ECB or debt introduced in the books.
Q: So, the total would be?
A: It maybe around Rs 50 crore.
Q: What kind of capacity expansion are you looking at and by when do you think this would come onstream for you? What is your capacity currently and how much would it increase?
A: Currently, our capacity is 3,250 metric tonne per day of soya crushing and 350 metric tonne per day for refining. We are going for the expansion in value-added soya-based products.
Q: When would this come onstream?
A: This will come onstream 5-6 months from now.
Q: You were also looking at acquisitions for soya bean plantations. Any update on that because last time we heard from you, you said you were hoping to complete it by September?
A: That has not developed significantly right now.
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