Premier Explosives to expand operations in Andhra Pradesh

Premier Explosives is looking at expanding its operations in Andhra Pradesh in Chittoor district. It is looking to set up a unit and get the land allotment.

Throwing more light on the above development, AN Gupta, Chairman & Managing Director of Premier Explosives told CNBC-TV18 once the land is in their hand it will take up about 18 months to set up the facility. The outgoing for this could be around Rs 40 crore.

The company is looking for strategic investors by divesting equity. They are looking at raising money through qualified institutional placement (QIP) and use the money for expansion, said Gupta.

For the full interview, watch video