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Ester Industries Ltd. Capital/Financing Update 2021
62215_rns_2021-08-10_3501f339-aeb5-4e02-a622-bd57a1ceec67.pdf
Capital/Financing Update
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Date – 10th August, 2021
| BSE Limited | National Stock Exchange of India Limited |
|---|---|
| Department of Corporate services | Exchange Plaza, |
| Phirojee Jeejeebhoy Towers | Plot no. C/1, G Block |
| Dalal Street, Mumbai- 400023 | Bandra-Kurla Complex, |
| Bandra (E), Mumbai- 400051 | |
| Scrip Code- 500136 | Symbol – ESTER |
Dear Sir
Subject: Approval of Capital expenditure – Capacity expansion for Speciality Polymer products
This is to inform you that in its meeting held on 9th August, 2021, the Board of Directors has approved Capital expenditure of Rs. 80 Crores for capacity expansion of certain grades of Speciality Polymer business.
Information required pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9th September, 2015 is as stated under –
| Existing Capacity of these products | 6000 MTPA |
|---|---|
| Existingcapacityutilizationofthese | More than 80 percent |
| products | |
| Proposedcapacityadditionofthese | 6000 MTPA |
| products | |
| Period within which the proposed capacity | 24 months |
| is to be added | |
| Investment required | Rs. 80 Crores |
| Mode of financing | Mix of internal accruals and debt |
| Rationale | Growing demand of these products |
Please take the same on your records.
Thanking You For Ester Industries Limited
Diwaker Dinesh Head-Legal & Company Secretary