Brief: Bodal Chemicals approves equity investment of 41 mln rupees in S.P.S Processors

Bodal Chemicals

20/03/2017 08:20

March 20 (Reuters) - Bodal Chemicals Ltd  BODA.NS  
    * Says approved equity investment of 41 million rupees in S 
P S Processors Pvt. Ltd. 
    * Says deal to be funded via internal accruals 
    * Says BCL will hold 70 percent stake in sps processors 
after investment 
    * Says deal targeted to close before 31 March 2017 
    * Says investment to help BCL to increase manufacturing 
capacity of dyes intermediates by 25 percent 
    * Says BCL will provide unsecured loan about 450 million 
rupees to sps processors to make it debt free  co 
    * Says approved plan to build a 350-TPM versus plant at cost 
of about 100 million rupees 
    * Says expects new versus plant to be operational by Q2 
fy2018 
 
Source text: http://bit.ly/2nUr7wL 
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