Murli Industries To Raise Rs 1000 Cr To Fund Its Projects
Murli Industries is set to raise Rs.1000 crore through various routes for financing the upcoming projects and to repay its existing debts which stood at around Rs.900 Cr as on March 2009.
It has set up power plants to cater to the power needs for its paper and cement segment.
Transaction Reference: Myiris
Murli Industries Limited - earlier known as Murli Agro Products Ltd was established in 1991. The company is engaged in production and marketing of various agro-based products like Soya de-oiled cake, Refined Edible Oil and paper products.
It made its foray into the cement sector in February 2010 through its cement plant in Chandrapur, Maharashtra with an installed capacity of 3 MTPA.
It plans to set up two additional cement plants in Karnataka and Rajasthan, both with an identical capacity of 3 MTPA, along with two captive power plants of 50 MW each at a total investment of Rs 1,135 crore each. The cement plants are expected to be operational by the middle of 2013.
During Q1 FY2011, net sales moved up 71% to Rs.192.76 Cr as compared to Rs.112.46 Cr during the corresponding quarter last year. During the quarter, PAT increased to Rs.15.56 Cr from Rs.10.10 Cr in previous year same quarter.
Last month, there were news of Murli Industries looking for a buyer to sell its 3 mtpa cement plant in Chandrapur, Maharashtra and was in negotiation with a couple of companies for the sale. It also appointed Motilal Oswal Investment Advisors to find a buyer. But this plan doesn't seems to be worked out and hence gone for fund raising plans to carry out the cement production and the power plants.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 03/09/10 | Murli Industries - Fund Raising | IPO / Offerings | Looking For | 214.38 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 31/01/12 | M&A | Starbucks Group | Tata Starbucks Limited | - | Announced |
| 30/01/12 | IPO / Offerings | Betul Oil Limited | 22.03 | Called Off | |
| 21/12/11 | M&A | Bunge Limited | Oils And Fats Biz | - | Completed |
| 13/12/11 | M&A | International Breweries | South India Based Company | - | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Murli Industries Limited | Lalchand B. Maloo Raghav Finevest Private Limited Nihal Gilts Private Limited Vishnu Gilts Private Limited Mohan Venture Capital Private Limited |
101, Jai Bhavani Society, Wardhaman Nagar, Nagpur-440008. Maharashtra. | Ruchi Soya Industries Limited | www.murliindustries.com |
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| Feb 6, 2012... | VRL Logistics To Sell Power And Cement Biz |
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