Atul Modi, Founder Chairman and MD of Prevest DenPro (Prevest DenPro), the first company in Jammu and Kashmir to be listed on the BSE SME platform, in his conversation with Moneycontrol, spoke on the company’s listing and the outlook for the dental material manufacturing business in the country. .
Point to be noted is that Translate DenPro is a Jammu based company that manufactures dental materials. The company is listed on the BSE SME platform on 27 September. The company was listed at Rs 180.55 with a premium of 115 per cent against the issue price of Rs 84. The company was founded in 1999 by Atul Modi, a chemical engineer turned entrepreneur. The company manufactures products for dental applications. In the last two decades, the company has become a major international player.
Presently, the company manufactures around 100 products at its state-of-the-art manufacturing facility located at Bari Brahmana Export Promotion Industrial Park, Jammu and exports them to more than 80 countries of the world. Prevest DenPro has become the first J&K company to be listed on the BSE SME platform by foraying into the capital market. Apart from this, Jammu & Kashmir Bank and Sarveshwar Foods are the companies which are listed on NSE.
In his exclusive conversation with MoneyControl, Atul Modi said that he wants to turn Prevest DenPro into a Rs 500 crore company in the next decade. We are the first dental company to be listed in the market. Everyone is confident about our bright future.
Talking about the situation after the abrogation of Article 370 in Kashmir in 2019, he said that the government is supporting the industry in the state through various incentive schemes. Industry gets cheaper electricity in Jammu and Kashmir as compared to other states.
Talking about the outlook of the company, he said that Prevest DenPro is a debt free company. We manage our business from our internal sources and work on 100% advance payment method. We do not have any bank loan. Now that we have set our intention to expand our business, we need capital. That’s why we took the listing decision. We will raise money from the market for our needs.
We plan to build a state-of-the-art research centre. It is estimated that around Rs 35 crore will be spent on this. We are arranging this from our internal sources as well as from the capital market. That is why we have taken the decision of listing in the market. Out of this Rs 35 crore, we will raise Rs 26.5 crore from public funding.
We will need a new production unit in the next 4-5 years. For this we will need Rs 150 crore. In such a situation, when we go to the market, investors should know about us. Keeping this in mind, we have got the listing done on the BSE SME platform.
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