This is a regulatory disclosure filed with the BSE Limited and the National Stock Exchange of India Limited pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Board of Directors of Alicon Castalloy Ltd. has decided to set up a new manufacturing plant. The plant will be dedicated to Gravity Die Castings (GDC), Low Pressure Die Casting (LPDC), and Machining processes.
The total capital outlay for the project is ₹1,255 million (Rs. 125.5 crore).
To facilitate this expansion, the company has acquired ready-built industrial premises on a 10-year lease. The premises admeasure 1,30,000 square feet and are located near its existing facilities in Shikrapur, District Pune, Maharashtra. The lessor for this property is M/s. Vijay Logistics Ltd.
The entire project cost will be financed through a combination of borrowing from banks or financial institutions and internal accruals. The stated purpose of this expansion is to enhance the company's manufacturing capacity and support its growth.