Manali Petrochemicals Ltd (Manali Petro), which is a part of the SPIC Group, is planning to raise $50 million to grow its business activities both in the domestic and international markets.
The company said that in order to capitalise on the various opportunities available for future growth, it intends to enhance its business activities both in the domestic and overseas markets through acquisition, setting up of manufacturing infrastructure, a focus on product development, and introducing new products across various operating markets.
It would be necessary for the company to raise funds in the Indian and/or international markets by an issue of shares
