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Nagarjuna Agrichem to raise Rs. 300 cr capital

NACL Industries Limited, formerly Nagarjuna Agrichem Limited, will raise a capital of upto Rs. 300 crores to fuel its near term growth plans.

The Hyderabad-based company has got approval from the Board of Directors, who met on January 2, subject to approval of the shareholders. The Extra-ordinary General Meeting of shareholders is scheduled for February 3.

The company has firmed up plans to expand into manufacture of intermediates and bioproducts. It has also worked out expansion strategy to grow in exports and in the domestic market by developing a pipeline of new products.

In a press release the company said its manufacturing unit at Srikakulam bagged the Suraksha Puraskar for the year 2017 from the National Safety Council of India, an autonomous body under the Ministry of Labour & Employment. The recognition was for getting the top ranking among various Indian crop protection products manufacturing companies in implementing best safety practises.

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