CHENNAI: Metallurgical coke producer Tamilnadu Coke and Power (TNCPL) has filed a Draft Red Herring Prospectus (DRHP) with the NSE Emerge.
The offering comprises a fresh issuance of 64.14 lakh shares with a face value of Rs 10. It plans to use the proceeds from the issue to build a new ferrosilicon manufacturing unit at an outlay of Rs 39.60 crore.
Ferrosilicon is mainly used in the production of stainless steel and carbon. The plant will have a capacity of 8,000 tonnes per annum (TPA). It plans to use Rs 8.63 crore to set up a solar power plant with a capacity of 1581 KWP and Rs 5 crore for acquiring land adjacent to the existing plant.
TNCPL operates a low ash metallurgical coke oven plant in Thiruvallur district of Tamil Nadu with a capacity of 1,20,000 TPA. It owns a power generation unit with an installed capacity of 10 MW and sells power to consumers through the Indian Energy Exchange.