Home / Knowledge / News / Textiles / Shri Lakshmi Cotsyn board approves Rs 12 bn capex plan
Shri Lakshmi Cotsyn board approves Rs 12 bn capex plan
10
Jun '09
Shri Lakshmi Cotsyn Limited (SLCL), diversified group engaged in manufacturing and processing a very wide range of end-to -end textile products and safety textiles for defence and paramilitary forces has announced that the company at its board meeting held in Kanpur, has approved its fund raising plans worth Rs 1200 cr for capital expenditure required for various projects.

Shri Lakshmi's Rs 1200 cr capex plan includes
• Plans to enhance the capacity of its Fusible Interlining division to 25 million meters from 12.5 million meters at present.
• Expansion in Denim Fabric Manufacturing Capacity.
• Expansion in Bed Linen Fabric Manufacturing Capacity
• Plans to set up spinning unit with one lakh spindles.
• Venturing into the manufacturing of Blackout Fabric
• Setting up a project for IRR Fabric.
• Company plans to open 1500 Retail Outlets across the Country by 2011 based on Franchisee model

Chairman and Managing Director MP Agarwal said: “We have a diversified expansion plan for our various verticals that includes, home furnishing, terry towels, fusible interlining, denim fabrics, technical textile fabrics, blackout fabric, IRR fabric and our proposed retail venture.

The company is also in the process of backward expansion of its existing verticals and is in talks with some non-performing private cotton textile companies for acquisitions”

The Board of Directors of the company has also approved fund raising Rs 12.50 crore by issuing 25 lakh convertible warrants on preferential basis to strategic investors. Each warrant would have an option of converting into an equity share at Rs 10 each at a premium of Rs 40 each.

SLCL has recently also allotted 7,78,500 No. of equity shares of Rs. 10/- each at a premium of 90/- per equity shares to the promoter group after approving the conversion of 7,78,500 No. of warrants out of 30,00,000 warrants in compliance with the provisions of Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Shri Lakshmi Cotsyn Limited

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search