Elgi Equipments plans Rs 650-cr outlay for new unit, overseas bus

摘要

Coimbatore-based air compressor and automotive equipment manufacturer Elgi Equipments Ltd (EEL) is planning an outlay of about Rs 650 crore for the next five years.The money will go towards a new factory in Coimbatore and for funding overseas acquisitions in the Americas and Europe.The company will meet investment costs through borrowings and by leveraging the balance-sheets of potential acquisitions abroad and does not intend to dilute its equity through a follow-on public offer (FPO) or rights issue, its Managing Director, Dr Jairam Varadaraj, has said.