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Our Bureau

Mumbai , Jan 10

Yogindera Worsted Ltd, manufacturer of acrylic and blended yarn, proposes to enter the capital market with a public issue of 60 lakh equity shares of Rs 10 each at a premium of Rs 14 per share aggregating Rs 14.4 crore. The IPO would constitute 40.26 per cent of the fully diluted paid up capital.

The issue proceeds will go to raise the production capacity by 825 metres per annum from the existing capacity of 2,695 metres and to set up a unit for the manufacture of ready-to-wear garments with an annual capacity of 2.52 lakh pieces.

The IPO opens for subscription on January 16 and closes on January 22.

Khandwala Securities Ltd is the lead manager to the issue.

"The strength of the company is in the range of products. We are confident the market will respond positively to our company and investors can be certain of investing in a dynamic, strong, focused and growth-oriented organization," said Mr Ajay Gupta, Joint Managing Director, Yogindera Worsted.

More Stories on : IPOs | Textiles

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