RAK Ceramics, currently focusing on expanding on the Indian subcontinent, plans to build a plant in Ahmedabad and soon hold an IPO for its Indian subsidiary in the wake of a $250 million IPO it accomplished in Bangladesh earlier this year, a senior official said.

Abdullah Massaad, deputy CEO of the company, said the company was looking at expanding in high-growth markets across the subcontinent. Ahmedabad is India’s seventh largest city and a new plant there will complement a factory the company already has in Hyderabad in the country’s south.

Massaad made the comments at the second Pan IIM Alumni Gulf Summit that gathered over 250 prominent corporate leaders and entrepreneurs from India and the Middle East. Held in Dubai, it was organised under the theme, “New Global Economic Paradigm – Spotlight on India.”

RAK Ceramics is currently the world’s largest manufacturer of ceramic and porcelain tiles accounting for more than $1 billion in global sales annually. The company’s global production of tiles exceeds 360,000 sq m and 12,000 pieces of sanitaryware per day from its state-of-the-art manufacturing plants in the UAE, China, Sudan, Bangladesh and India.