Passari Cellulose Limited a Bombay Stock Exchange (BSE code: 530923) listed company primarily engaged in the business of manufacturing, distribution and retailing of agro-based processed food products and fast-moving ready-to-eat consumer goods plans to expand its capacity by setting up additional  manufacturing facility at Chennai. The shareholders have approved the expansion plans in the Extraordinary General Meeting held on April 17, 2010. To finance this expansion program, Passari Cellulose plans to raise about Rs. 25 crores from the market and internal resources.

Passari’s new plant is aimed to enhance the production capacity at Passari and expand its footprint across various states in India from the existing four states namely Kerala, Tamil Nadu, Uttar Pradesh and Karnataka, to seize the expectations of the ever growing industry. 

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According to the Company's spokesperson, the Board has been authorised for the fund raising through a FPO or any other means of financing. The Company would announce its precise plans soon after consulting its investment bankers and advisors.

About Passari Cellulose Limited:
Passari Cellulose Limited is a Bombay Stock Exchange (BSE code: 530923) listed company. The company is engaged in manufacturing, distribution and selling of ready to eat food products / FMCG products and establishing retail outlets for selling its products to the end user.

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