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Calcutta, July 23: Mumbai-based VVF Ltd plans to come out with its maiden public offering in 2008. The maker of oleochemicals and personal care products is also looking at overseas acquisitions .

Recently, taking stock of the fiscal results for 2005-06, VVF vice-president (personal care) Piyush Jindal said, “Last fiscal, we clocked a turnover of Rs 502 crore and expect to close this fiscal at Rs 700 crore. We are targeting a turnover of Rs 1,000 crore by 2007-08.”

The organic route alone may not be sufficient to sustain VVF’s business growth. Hence, the company is looking at inorganic growth as well, he added. “We are looking at acquiring a foreign firm to cater to our growing overseas business. However, we are open to buying a domestic firm as well if it brings in more synergy in our business.”

VVF, which is a long-term contract manufacturer of soaps, cosmetics and oleochemicals for Johnson & Johnson, JL Morrison, Reckitt Benkiser, Henkel, Cussons, Clariant, BASF and Huntsman, has four manufacturing facilities in India, one in Dubai and one in Canada.

Last year, the company had set up a 75,000-tonne plant at Taloja in Maharashtra at an investment of Rs 150 crore. “This year, we are spending another Rs 50 crore in expanding the capacity of the plant,” Jindal said.

The company will set up a new plant in Baddi in Himachal Pradesh at an investment of Rs 35 crore.

“We are also adding three more production lines at the Dubai plant at an investment of Rs 40 crore,” Jindal said.

VVF is also expanding its Kutch plant. “The company has earmarked an investment of Rs 150 crore for this and it will be funded through a mix of internal accruals and debt,” Jindal said.