Date:04/07/2007 URL: http://www.thehindu.com/2007/07/04/stories/2007070460561800.htm

Business

V-Guard plans to tap market

Special Correspondent

KOCHI: V-Guard, electrical and electronic brand, is all set to enter the capital market by October with an initial public offer of around Rs. 70 crore.

Addressing a meeting here on Tuesday, V-Guard Chairman and Managing Director, Kochouseph Chittilapally, said the maiden public issue was to raise funds to augment capacity, enhance the research and development (R&D) facilities and to strengthen the market presence of the company’s products. He said the promoters were planning to dilute a small portion of their stake to business associates at a market related price.

Board reconstituted

The board of directors has been reconstituted with the induction of R. Krishna Iyer, chartered accountant, C. J. George of Geojit, and P. G. R. Prasad of JP Morgan as members.