Ddev Plastiks Industries Limited Marks its Debut on BSE

The equity shares of Ddev Plastiks Industries Limited ('DPIL' / "Ddev Plastiks") were listed on 26.07.2022 on the Bombay Stock Exchange Limited (BSE). The Company was incorporated on 07.12.2020 and subsequently a Scheme of Arrangement relating to Demerger of Compounding Business of Kkalpana Industries (India) Limited and vesting it with the Company was approved by Hon'ble National Company Law Tribunal, Kolkata Bench, vide its Order dated 04.03.2022. This Demerger and subsequent Listing of shares on BSE is a strategic milestone and will allow Ddev Plastiks to have separately defined strategy with focus on exploring its growth opportunities and create value for all stakeholders.

Ddev Plastiks has an annual capacity of around 3,00,000 tons with market leadership in PE compounds catering to low and medium power cable industry. The leadership position is supported by diversified product base which are used for manufacturing of building wires, control & instrumentation cables, for insulation and jacketing of wires among wire and cable industry as well as industries such as packaging, footwear etc. lts strong market position is underpinned by large scale of operations and diverse customer base. The Company has 5 Manufacturing units with state-ofthe art machinery, infrastructure, equipment, and R&D facilities. The biggest capacity is installed at Surangi, Silvassa and have the state-of-the art plant employing the latest process technology to manufacture XLPE compounds.

The Company continues to diversify its product portfolio and have introduced engineering plastic compounds for white goods, automotive and electrical appliances industry. The quality of all products conforms to quality standards. Regular and consistent export to almost 50 countries is a testimony of our capabilities.

Commenting on the listing, Narrindra Suranna, Chairman and Managing Director said: "Listing of Ddev Plastiks on the stock exchange today completes our demerger process which started in December 2020 and is an important milestone in the history of the company. Our Compounding busrness is the core on which the group was built over the years and now Ddev Plastiks will embark upon its independent journey with continuous focus on strengthening its manufactuing capabilities and expanding customer base.

I would like to thank our cusfomers and shareholders for their continued trust, and I am confident that the Company with clear strategic ' focus and efficient capitat allocation, will create value for all stakeholders."

Shares of Ddev Plastiks Industries Ltd was last trading in BSE at Rs. 39.25 as compared to the previous close of Rs. 41.30. The total number of shares traded during the day was 54033 in over 316 trades.

The stock hit an intraday high of Rs. 40.50 and intraday low of 39.25. The net turnover during the day was Rs. 2129848.00.

Source : Equity Bulls

Keywords

DdevPlastiksIndustries INE0HR601026 SpecialtyChemicals