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Mumbai Jan. 25 Abhishek Mills has filed a draft red herring prospectus with SEBI to enter the capital market with an initial public offering of 41 lakh equity shares. The issue will constitute 29 per cent of the fully diluted post-issue equity capital of the company.

The company proposes to raise Rs 50 crore to part finance its expansion plans.

"We will be setting up a facility for yarn dyed shirting fabrics and will be using cotton yarn from our existing facilities for the same," said Mr Anasaheb R Mohite, MD, Abhishek Mills Ltd.

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