Premier Explosives is buzzing in trade after bagging an order from Coal India for Rs 145 crore. In an interview to CNBC-TV18, AN Gupta, Chairman & Managing Director of the company spoke at length about the order and his outlook going ahead.
Premier Explosives is in focus as its qualified institutional placement (QIP) issue opens. The issue price is set at Rs 414.97 per share.
AN Gupta, CMD of Premier Explosives, while confirming the news said, "The certificate says that we are qualified to supply a material to aerospace".
Premier Explosives is looking at expanding its operations in Andhra Pradesh in Chittoor district.
Premier Explosives wins an order from the ministry of defence. Speaking to CNBC-TV18, AN Gupta, CMD of Premier Explosives said the order win was against global competitors.
Speaking to CNBC-TV18, AN Gupta, Chairman and MD of the company said that capital expenditure on the new unit is expected to be around Rs 100 crore and it could be financed from internal accruals or through raising capital from the market.
Foreign original equipment manufacturers who had held back from striking deals because of a closed regime will now be forthcoming to ink joint ventures with India, said Vikram Mahajan, Director of the company.