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Mumbai Jan 23 Mudra Lifestyle Ltd, a manufacturer and exporter of fashion fabrics and garments, has raised Rs14.4 crore through a pre-IPO private placement of equity shares to SIDBI Venture Capital Ltd and State Bank of India.

Mudra Lifestyle Ltd has 177 automatic looms producing approximately 10.62 million metres of woven fabrics per annum, 700 sewing machines with production capacity of 3.15 million garments per annum and processing capacity of 80,000 metres per day.

The company intends to expand manufacturing facilities by setting up a new integrated unit with facilities for yarn dyeing, weaving, processing and garment manufacturing.

The company is proposing to make a public issue and has filed the draft red herring prospectus with SEBI.

More Stories on : Private Placement | Readymade Garments | IPOs

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Mudra Lifestyle raises Rs 14.4 cr

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