Kay Pulp and Paper Mills was incorporated as a private limited company in May '91 and was converted into a public limited company in Jun.'93. It is promoted by Niraj Chandra and Praveen Chandra. The company is engaged in the manufacture of kraft paper. Its plant is located at Borgaon (Satara district), Maharashtra, with an installed capacity of 9900 tpa. Commercial production commenced in Mar.'94. In 1995, the company increased the installed capacity to 15,000 tpa to manufacture quality kraft paper by installation of certain balancing equipment and setting up of additional facilities at its plant. During 1996-97, its has imlemented the second machine for lower grammage and the commercial production has commenced. In 1998-99, most of the formalities for the Co-Generation of Power Plant have been completed and trial runs are expected within the projected time. The Power Plant project has been fully completed and the company's paper division is mainly running on the Captive Power generation.