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Mumbai June 12 SEL Manufacturing Company Ltd, which manufactures and exports knitted garments, fabrics and combed and carded yarn, proposes to enter the capital market with a public issue of 53,99,210 equity shares of Rs 10 each to fund its expansion project.

The company plans to expand capacities in garmenting, knitting and spinning at a cost of Rs 184.57 crore.

Post expansion, the company will have garmenting capacities of 6 million pieces per annum from the current 4.5 million pieces per annum, fully backed by facilities for spinning, fabric knitting and processing. The debt component of the project cost of Rs 103.79 crore would be covered under the Technology Upgradation Fund Scheme.

UTI Bank Ltd has been mandated as the Book Running Lead Manager for the IPO

More Stories on : IPOs | Knitwear & Hosiery

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