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Monday, March 8, 2010

No immediate plans to raise funds via QIP: Dhampur Sugar

News about integrated sugarcane processing company, Dhampur Sugar Mills planning to raise Rs 100-150 crore via a qualified institutional placement (QIP) has been put to rest. In an exclusive interview with CNBC-TV18, the company’s Managing Director, Gaurav Goel, said that though the board had approved a QIP but there were no immediate plans to raise funds.

However, he did not rule out the possibility of the same in the future. “We may need funds for expanding our power and refinery units for which we may raise Rs 150 crore via QIP if required.”

Commenting on the issue of pricing, Goel said the rates were set to rise again in April-June period. “Post April, the prices could tough Rs 38-40 per kilogram.”

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