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Uflex Ltd.

allots 135 lakh warrants to Promoter Group Promoter Group has exercised their option for 35 Lac warrants; Uflex mops up Rs. 180 Crore
December, 2010: Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India's largest flexible packaging company has announced that the proposal of preferential issue of 135 lakh warrants to the Promoter Group at conversion price higher of Rs. 300/- per warrant or price calculated pursuant to the provision of SEBI ICDR Regulations was approved by the Board of Directors and subsequently approved by the members of the company through a postal ballot. The company has already allotted 135 lakh warrants to the Promoter Group on 25th November, 2010, at a conversion price of Rs. 300/- per warrant, which is 20% higher than the SEBI Floor Price, upon receipt of upfront amount of Rs. 101.25 crore as 25% of the conversion price of Rs. 300/-, i.e. Rs. 75/- per warrant. Out of the above warrants allotted, the Promoter Group has exercised their option for 35 lakh warrants to convert into equal number of equity shares of the company after payment of the balance amount (net of upfront payment thereon) of Rs. 78.75 crore. “With this, the company has so far moped up aggregate amount of Rs. 180 crore from the issue of warrants to the Promoter Group, which shall be used by the company for its growth,” said Mr. Ashok Chaturvedi, Uflex Ltd. Chairman and Managing Director, while talking about the preferential issue of warrants to the Promoter Group.

Mr. Ashok Chaturvedi says, “Our growth is coming from new capacity additions, increased utilisation and higher net realisation of our product line. Also, overseas facilities in countries with trade pacts help us bypass anti-dumping duties and exploit low freight rates and favourable tax regimes, besides giving us access to large and profitable markets.” UFLEX is continuing with its strategy of capacity expansion and adding manufacturing lines for new product categories across facilities in Egypt, Mexico and Dubai – not only to increase proximity to the markets, but also to bring broad portfolio of value added products to its clients at competitive price points. In Egypt, the Company is ramping up production capacities for BOPP films (Biaxially Oriented Poly Propylene film) to 35,000 TPA; 30000TPA of PET (Polyester) and 12000TPA of CPP films aggregating to total capacity of 77,000 TPA. The company’s planned investments in Egypt are pegged at US$ 135 million. This facility has trade pacts with GCC nations, Southern Europe & Africa, Middle East, West Asia and CIS to access larger markets. The first phase of this expansion involving added capacities in BOPP films has already commenced operations, while the second phase of setting up facilities for PET and CPP films is expected to be completed by the 3rd quarter of FY 2011-12. Uflex's strong manufacturing base in India, Mexico, Dubai and Egypt caters to global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries. Uflex is the only integrated unit of its kind in the world with flexible packaging at its core. It has vast capacities for production of Polyester chips, Biaxially Oriented Polyethylene Teraphthalate (BOPET) and Biaxially Oriented Polypropylene (BOPP) films, Printing & Coating Inks, facilities for Holography, Metalization & PVDC

coating, making Gravure Printing Cylinders & Flexo Printing plates, Gravure Printing, Lamination and Pouch formation. The company's partial client list in India includes Pepsi, Wrigley, Procter & Gamble, Colgate, Palmolive, Nestle, Gillette, Ranbaxy, Perfetti, Joyco, Monsanto, ITC, Godrej Pillsbury, Tata Tea, Hindustan Petroleum, Indian Oil, Britannia, Dabur, Haldiram, Wockhardt, HUL, Parle Biscuit, and Birla 3M, among others. About UFLEX Ltd UFLEX Ltd (www.uflexltd.com ) is the Bombay Stock Exchange (UFLEX: 500148) and NSE listed India's largest flexible packaging company with large manufacturing capacities of plastic film and packaging products providing end-toend solutions to clients across more than 108 countries. Synonymous with flexible packaging industry in the country, UFLEX group has Gross annual revenue of Rs. 30 billion and Gross Capital Investment across the world of about Rs. 26 billion. UFLEX offers finished packaging of a wide variety of products such as snack foods, candy and confectionery, sugar, rice & other cereals, beverages, tea & coffee, desert mixes, noodles, wheat flour, soaps and detergents, shampoos & conditioners, vegetable oil, spices, marinates & pastes, cheese & dairy products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, garden fertilizers and plant nutrients, motor oil and lubricants, automotive and engineering components etc..