KEI Industries Ltd, a housing wire and cable maker, is looking to raise financing by selling shares to qualified institutional buyers. “The funds raised will be utilized towards capacity expansion and towardsKEI Industries Ltd Raising Funds Raised For Capacity Expansion And Towards Debt Repayment debt repayment," sources have said.

 

“The money raised is likely to be utilized to fund capex in order to sustain 20% growth in future. But no concrete plans have been finalized yet. The company can achieve peak revenues of 600 crore from existing capacities," a 14 November research note from brokerage firm Prabhudas Lilladher said.

 

Founded in 1968 as a partnership firm under the name Krishna Electrical Industries, the company was converted into a public limited company in 1992 and was listed on the stock exchanges in 1995. The firm makes different types of cables, house wires and stainless-steel wires at its manufacturing facilities in Bhiwadi, Chopanki, Pathredi and Silvassa. It is also involved in engineering, procurement, construction (EPC) work in the power distribution space. Some of its key clients include Power Grid Corp. of India, Tata Power Ltd, NTPC Ltd, Larsen and Toubro Ltd, Suzlon Energy Ltd, Mahindra Solar, Hindalco Industries Ltd, Sweden’s ABB Group and Indian Railways.

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