• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Advertisement

Mumbai Feb. 2 Jagjanani Textiles Ltd will be entering the capital market with a public issue of 81 lakh equity shares of Rs 10 each at a price of Rs 25 per equity share aggregating Rs 20.25 crore.

The public issue opens on February 15 and closes on February 23.

The proceeds will partially fund the setting up of a ring-spinning unit with 600 spindles for manufacturing fine cotton yarn to lift existing yarn capacity from 3,600 tonnes per annum to 4,320 tonnes. The company is also setting up a weaving unit for manufacturing fabrics, by installing 48 high-speed air jet looms.

Commercial production is expected to commence by June 30.

The estimated cost of the expansion is Rs 54.17 crore and would be financed by term loans under the Technology Upgradation Fund Scheme of Rs 28 crore, unsecured loans from promoters aggregating Rs 3.77 crore, internal accruals of Rs 2.15 crore and the public issue of Rs 20.25 crore.

More Stories on : IPOs | Textiles

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
DSP Merrill Lynch launches `Trust Services'

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line