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Our Bureau

New Delhi , June 30

YASH Papers Ltd, manufacturer of brown wrapping paper, plans to set up a 70-tonnes per day plant to manufacture MG poster paper at its factory at Faizabad in Uttar Pradesh.

The company also plans to install a 130-tonnes per day bagasse and straw pulping and bleaching unit, a five MW power plant and a chemical recovery plant at its factory.

To meet the financial requirement of these initiatives, the company has entered the capital market to raise Rs 23.52 crore by issuing 1.68 crore equity shares of Rs 10 each for cash at a price of Rs 14 a share.

The issue, which opened today, closes on July 8.

The lead manager to the issue is Karvy Investor Services Ltd. The registrar to the issue is Skyline Financial Services Pvt Ltd and ICICI is the sole collection banker.

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