RCG to enter capital market in April '07

21 Dec '05

1 min read

Royal Classic Group (RCG) plans to foray in the capital market in April 2007. Owner of Classic Polo, the Rs 225-crore group is based at Tirupur.

Speaking at the launch of innerwear brand 'Smash,' R Sivaram, Executive Director of Royal Classic Mills announced that capital generated from the issue would be used for diversification and adding the number of spindles. However, he kept mum over the amount that would be mopped up from the issue.

With a competitive price range, Smash products are available in five variants - Vitals, Classics, Clubs, Elites and Evaporex for upper-middle class.

These products have the quality of double mercerized cotton and imported super dry fabrics that maintain dryness even in summer, stated Sivaram.

Chennai was the last destination in South Indian market, and the products will be introduced in Maharashtra and Gujarat by January 2006.

RCG has 14 stores at present and the group proposes to increase this number to 25 before March 2006. It will also increase the spinning capacity of its mills from the present 16,000 to 25,000 spindles by investing Rs 23 crore by the end of current fiscal.

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