Seshasayee Paper & Boards Ltd

Summary

Seshasayee Paper & Boards Ltd. was incorporated in June 22, 1960 and promoted by S Viswanathan and N Gopalaratnam. The Company is engaged into manufacture and sale of printing and writing paper and has plants in two locations, one at Erode and another at Tirunelveli with an aggregate capacity to produce 255000 tonnes of paper, per annum (TPA). The company completed the first phase (cost:Rs 10 cr) of its modernisation programme in 1994, for which it came out with a rights issue at a premium of Rs 10 in Dec.93. In the same year, the company spent over Rs 6 cr on energy conservation, financed by term loans from IDBI. It has enhanced its capacity to 115000 tpa from 69000 tpa. Companys quality systems continue to be covered by the ISO 9001 accrediation awarded by Det Norske Veritas, The Netherlands. The company is repaying its term loans for which it availed for Expansion/Modernization projects,due to the Financial Institution/Banks. A multi-purpose business paper SPRINT was launched during 2003 and the same was well accepted in the market.During March 2011, the Company acquired 41.67% of the Equity Capital of Subburaj Papers Limited (SPL), held by the Promoters.During the year 2013, the Company acquired 100% of the Equity of Esvi International (Engineers & Exporters) Limited (Esvin) therebymaking it a wholly owned subsidiary of the Company. During the year 2014, the Company issued 13,63,628 Equity Shares to the Equity Shareholders of SPB Papers Limited, which amalgamated with... Read More