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Our Bureau

Chennai, April 6

The Chennai-based Gemini Communication plans to set up a Rs 20-crore manufacturing facility in Himachal Pradesh for Radio frequency identification (RFID) tags and related products, said the company's Chairman, Mr R. Vijaykumar.

For this facility and to strengthen its financial position, the company is making a preferential allotment of up to 5 lakh warrants with an option to convert them into 5 lakh equity shares. Mr Vijaykumar told Business Line that he would subscribe to two lakh warrants and Mr Ravi Seth, Executive Director, Great Eastern Shipping, and his brother, the rest.

The facility will come up in a phased manner, and the company plans to convene an extraordinary general meeting on May 3 to seek shareholders approval, a press release said.

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