In an interview to CNBC-TV18, Shobhan Mittal, Joint MD of Greenply Industries spoke about raising fund via qualified institutional placement (QIP) and the plan ahead.
Mittal said though the company has board approval to Rs 100 crore, it will raise Rs 50 crore.
He further added that Rs 740 crore capex is required for medium density fiberboard (MDF) plant in Andhra Pradesh. It will be funded by a mix of internal accruals and debt, he said.
For entire interview, watch accompanying video.
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