RAK Ceramics (India) plans IPO

capital market | Mumbai |

May raise Rs 200 crore through the issue

RAK Ceramics (India), a subsidiary of UAE-based RAK Ceramics, the world's biggest ceramic producer, is reportedly planning to tap the Indian capital markets to fund its expansion in the country.

According to media reports, the company is mulling a Rs 200 crore initial public offer (IPO) this year.

RAK is listed on Abu Dhabi Stock Exchange and one of its subsidiaries on the Dhaka SE. The company, which manufactures ceramic tiles globally, plans to invest nearly Rs 500 crore over the next four-five years, which includes setting up a greenfield facility in Gujarat. Besides, it plans to more than double its turnover to Rs 2000 crore by the year ending March 2015, from Rs 800 crore in the year ended March 2013, reports added.

Meanwhile, RAK plans to add 500 dealer showrooms to its existing network.

RAK in India manufactures vitrified tiles, ceramic tiles as well as sanitaryware. Its competitors include Kajaria Ceramics and Somany Ceramics.

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