Kovilpatti Lakshmi Flour Mills to float IPO

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Kovilpatti Lakshmi Flour Mills to float IPO

Suresh Jagannathan, Managing Director of Kovilpatti Lakshmi Roller Flour Mills says that the company acquired Eltex in August 2006 and now plans to raise Rs 14.3 crore through public issues.

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Kovilpatti Lakshmi Roller Flour Mills is coming up with a public issue.

Suresh Jagannathan, Managing Director of Kovilpatti Lakshmi Roller Flour Mills says that haivng acquired Eltex in August 2006, they have already started preliminary trials and basic production. The company plans to raise about Rs 14.3 crore through public issues.

"We are hoping that the ramp up would be complete and we would be able to achieve our full capacity by March 2007," he enthuses.

Apart from that they are also planning to go in for value added manufacture of sub-assemblies and components, both for the auto industry as well as the general engineering industry.

"Currently half our revenues are from the flour millling division and the other half come from textile division while the sheet metal unit is a very small contributor. We feel that upgrading our engineering units would help us for the future," he analyses.

For the full interview watch video