Emmbi Polyarns to use IPO proceeds for expansion

Mumbai, India-based Emmbi Polyarns, a polymer processing firm with significant interest in geosynthetics manufacture, has opened its initial public offering (IPO) of 95,74,000 equity shares of Rs 10 each for subscription. The price band has been fixed at Rs 40 to Rs 45 per equity share and the issue will close on February 3. The offer has been greeted with both excitement in the Indian market and concern for the dilution level. But Emmbi insists that its ambitious expansion goals, rooted heavily in geosynthetics, will justify the IPO and secure Emmbi’s business. Read an interview with Makrand Appalwar, Emmbi’s Managing Director.