Sundaram Multi Pap plans to raise Rs 100 cr in next 12 mnths
Press Trust of India / Mumbai Mar 12, 2010, 12:47 IST
Sundaram Multi Pap, which commenced trading on the Bombay Stock Exchange today, said it plans to raise around Rs 100 crore in the next 10-12 months for the company's expansion.
"We plan to raise at least Rs 100 crore to set up a unique animation studio in Navi Mumbai in the next 10-12 months. We will launch new products for school students in the coming days," Sundaram Multi Pap CMD Amrut P Shah told PTI after the listing ceremony here.
The paper products manufacturer that launched a teaching and learning product-- e-Class, for school students in Marathi and English last month, intends to sell it across the country within two years.
"Initially, we will sell the product in Maharashtra and later move to other states. We plan to invest Rs 5-10 crore in e-Class for every state," he said.
The company's plant is located at Palghar, near Mumbai, and employs more than 400 personnel. It also exports its products to the Middle-East and African countries.
"We will expand our existing capacity from the present 25,000 tonnes to 1 lakh tonnes per annum in the next 4-5 years," he said.
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