Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
BRFL Textiles Pvt Ltd (BTPL) has raised ₹240 crore in equity from a consortium of financial investors led by JM Financial India Fund II (an Indian growth private equity fund), Think Investments (a San Francisco-based investment firm) and others.
BTPL was formed as a separate entity in August 2020 as part of a restructuring process undertaken by Bombay Rayon Fashions Ltd, which hived-off its yarn dyeing and fabric processing units in Tarapur, Maharastra. The company’s brands, including Bombay Rayon, BRFL, Linen Vogue, Giza Classe, Dickens & Browne and others, are also a part of this transaction.
The equity capital will be utilised primarily to fund the business’ growth and for initial capex to bring its plant up to speed, it said in a statement.
“We are confident that now with a fully-funded operation with almost no debt, the Tarapur unit housed in BTPL is poised to grow into one of the leading fabric processing houses in India. We shall aim to set new benchmarks in servicing our customers with timely deliveries of new age fabrics and by supplying innovative designs,” Prashant Agarwal, Managing Director at BTPL, said.
“BTPL is augmenting its talent pool by hiring senior professionals and spending on maintenance capex to ensure full utilisation of its 4-lakh metres per day capacity. We shall further invest in technology to ensure increased efficiency of machineries at our plant that adheres to all regulatory and business compliances,” he added.
BTPL has a strong presence in the B2B and B2C space along with long-standing relations with leading brands across the globe, and sells through large garmenters in India who also sell to domestic brands. On the domestic branded sales front, the distribution network of BTPL is spread across its own exclusive brand outlets (EBOs), over 100 distributors and over 8,000 retailers.
“We believe BTPL has a huge growth potential and the fund infusion will help the company scale-up its business. Increased consumption of branded apparels will drive growth for organized fabric manufacturers, both in domestic and export markets, which can deliver large volumes with consistent quality and within agreed timelines. With its in-house design, R&D and sampling, the company offers differentiated, and superior quality products, in a timely manner, to its customer base. We believe that BTPL will benefit from the ‘Make in India’ push in our country,” said JM Financial Managing Director and CEO Darius Pandole.
“This is the sixth investment from our Fund II, and is in line with its stated strategy of investing in growth companies in the mid-market space,” he added.
BTPL’s Tarapur plant is a multi-fibre fabric processing unit — using cotton, linen, giza cotton, viscose, polyester, tencel, modal, lycra, along with their blends - and has an annual processing capacity of 144-million metres.
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