NEW YORK, May 26, 2015 / PRNewswire / – India based at Kiran Global Chems Limited (KGCL), part of the MS Jain group, From India world number one and number two in sodium silicate, the main ingredient required for production in various industries such as detergents, textiles, foundry, ceramics, paper and also used in applications such as underground tunnels, upgrading of minerals, oil drilling, etc. , have now started the process of raising awareness of the United States $ 25 million or INR 155 crore via a private placement of its capital shares to a clutch of new York, Investors based in the United States.
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Investment bankers in India familiar with the transaction confirmed that Kiran Global Chems Limited has entered into an exclusive deal with a US-based investment banker to raise US $ 25 million for the expansion of its numerous national and international silicate manufacturing facilities and for partially liquidating their debt.
Besides a strong presence in India, UAE, Qatar, Egypt and South Africa, KGCL is currently in the process of setting up manufacturing facilities at Saudi Arabia, Abu Dhabi and Malaysia. The company currently owns and manages 36 units at various locations in India and 4 international units.
With a focus on onward integration and diversification, KGCL has invested in precipitated silica, which will add value to the business and bring additional income to the business besides consuming huge amounts of sodium silicate, which is the main raw material.
A separate manufacturing facility in Tamil Nadu is being set up for this product, primarily for the tire, toothpaste and pharmaceutical industries which have a large presence in South India.
The factory is strategically located near its consumers in order to reduce logistics costs and improve its quality of service. The plant is expected to go into production within the first week of August 2015.
“The company is also in the process of setting up two such factories in Abu Dhabhi and Egypt. KGCL is actively seeking to raise US capital $ 25 million to partially pay off its debt and bring the rest back to the business as working capital, âsaid the banker who is exclusively mandated on this transaction.
After the private placement, KGCL will be valued in the United States $ 500 million or INR 3000 crore. KGCL will become From India first silicate maker valued at half a billion dollars. The company is also not ruling out its plans to list on the US markets once the financing has been concluded.
KGCL according to the record serves more than 3 billion people in India, Middle East and Africa. KGCL also plans to introduce geopolymer cement products.
Geopolymer cement is made from industrial waste from the energy and steel sector and sodium silicate and has no carbon footprint. The company plans to aggressively focus and position the product as a replacement for Portland cement.
KGCL plans to introduce colloidal silica which is used as a moisture absorbent, high temperature binder and surfactant.
“We are looking to lay a solid foundation for building a globally respected chemical brand. We are reducing our financing costs and adding new products and technologies,” said Atul Jain, Vice President of Kiran Global Chems Limited.
Founded by MS Jain, the current president of KGCL, the company has grown on many levels under his dynamic leadership.
Media Contact: Robert Hansell, (424) 666-2456
SOURCE Kiran Global Chems Limited