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Lead-recycler Gravita India aims to expand in Honduras after IPO in Mumbai

Tuesday, November 16, 2010

Gravita India, an Indian lead- recycling company, jumped 68 percent on its trading debut in Mumbai after demand exceeded the shares on sale in its initial public offer by 42.2 times.

Gravita, which manufactures lead products such as sheets and pipes from smelting and recycling ore, lead concentrate and batteries, will use proceeds from the IPO to expand its operations in the northwestern city of Jaipur. Gravita will also invest the funds in ventures in Sri Lanka, Honduras and Senegal.

Original source: Bloomberg