The main object of the ipo is to part finance its project to expand capacities of optical fibre and to backward integrate into manufacture of the intermediate products (performs and FRP rods) used in making optic fibre/cables. The project will increase value addition by giving it operating economies arising form significant cost reductions (as compared to importing expensive optic fibre and frp rods) and give it secure, capitive sources of supply. This would place it in a strong competitive position vis-a-vis most of the optical fibre cable industry as it will be only company backward integrated into manufacture of both the main raw materials- perform and FRP rods. According to a news release here today, the total cost of the project is estimated to be Rs 41.24 crore and is appraised and part funded to the extent of term loan of Rs 6.87 crore by icici limited.The company has achieved gross sales of Rs 99.30 crore and pat of Rs 5.34 crore for the year ended March 31 2000.