In response to our expanding product portfolio and increasing consumer demand, we have strategically decided to diversify our production capabilities by establishing an additional location. Today, we conducted the 'Bhoomi Pujan' ceremony for our second plant, marking a significant step in fulfilling the vision of Mr. Vasu Naren, MD & CEO of Sona Machinery Limited. The new manufacturing facility, located near our existing plant on the Delhi-Dehradun Expressway, offers space for potential expansion and will enhance Sona Machinery's resilience and agility. This state-of-the-art plant will be equipped with cutting-edge technologies to boost Manufacturing efficiency & Product Quality.
In March 2024, Sona Machinery Limited, a manufacturer of agricultural processing machines, successfully launched its IPO. Approximately 55-58% of the raised capital was allocated for capital expenditures to establish a new manufacturing unit in Ghaziabad. This marks a pivotal moment in the company's expansion, as the demand for their rice mill and grain processing machinery has outgrown their current capacity. The plant is proposed to be fully operational in 2025 and aims to provide direct and indirect employment opportunities to 200 people.