Vipul Organics announced the construction of its new factory building at Ambernath in Maharashtra. After obtaining environmental clearance and MIDC building plan approval, the new factory building with 27,000 sq feet built up area was constructed. The factory will begin production soon, as installation of machinery is in progress.
The Capex incurred for the new factory building at Ambernath is Rs.13 crores involving a mix of equity and debt. This included raising Rs. 5.5 Crore from Promoters by Preferential shares and Rs. 7.5 Cr debt from banks. This expansion will enhance the capacity for pigment preparations for Vipul Organics.