The Indian glass bottle manufacturer Victory Glass and Industries Ltd. (VGIL) is implementing a Rs 27.20 crore expansion and diversification programme. The expansion project, under implementation, wil…
The Indian glass bottle manufacturer Victory Glass and Industries Ltd. (VGIL) is implementing a Rs 27.20 crore expansion and diversification programme. The expansion project, under implementation, will increase its capacity of bottles from 31,000 tonnes to 36,500 tonnes. VGIL is broadening its product range to include PET bottles by setting up a unit at Goa with a capacity of 22 million tonnes per year. Under its diversification proposal, VGIL is setting up a wind farm at Gadag in Karnataka with a capacity of 2.025 MW. VGIL will launch a rights and public issue to fund its plans. The rights issue will be in the ratio of 4 equity shares for every 5 held. The public issue will be of 15% fully convertible debentures and the rights issue will be at a premium of Rs 25 per share. Each of the debentures will have a face value of Rs 85, to be converted into equity in two stages.