RAK India plans to launch IPO
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18 Aug 2014
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RAK India, a subsidiary of UAE-based tiles maker RAK Ceramics on Sunday said that it has decided to go public through an initial public offering, reported PTI. The right time to raise the capital from the primary market is a combination of the time for the company and also the market conditions, RAK Ceramics global chief executive Abdallah Massaad told PTI. He added, “We will launch the IPO when we feel that we are ready for the capital markets and the market is going through the right dynamics. So we have that mentality of accessing the capital markets and obviously as Samena Capital being a financial investor, capital markets are always a route to raise capital, he said. Over the next five years, the company is looking to invest Rs 500 crore in India to scale up production for both greenfield or brownfield expansion. RAK, which is the world's largest tiles manufacture, has production facilities in the UAE, India, Bangladesh, Iran, Sudan, and China. |
| Source: Dion Global Type: IPO Related |
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