"Our equity is already high at Rs 640 crore and we have no plan to infuse new equity," Nalcos chairman and managing director C Venkataramana told FE. At present, the debt to equity ratio of the company is as low as 0.3:1.
When the government was considering disinvestment of its stake in this public sector aluminium major, it was proposed that a part of the government equity be sold to the public and for that a public issue would be floated by November 2003.
"Since the government has decided not to disinvest, we do not need to infuse any equity, not even for implementing our proposed expansion," Mr Venkataramana said. Nalco has already placed its expansion plan to the Union government for consideration.