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SEL Textiles to use IPO proceeds to set up new facility
02
Mar '10
SEL Manufacturing Company Ltd has informed that SEL Textiles Ltd., a subsidiary of the Company proposes a Public Issue of Equity Shares through 100% book building method in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India.

SEL Textiles Ltd. (the Company) proposes to finance the cost of Setting up a new facility for manufacturing of Terry Towels with an installed capacity of 3600 TPA out of the net proceeds of the issue.

SEL Manufacturing Company Ltd is investing in high-end fabric manufacture in knitted fabrics. The Company has 75 knitting machines including Terrot Autostriper knitting machines capable of knitting jersey and auto-stripe patterns.

SEL Manufacturing Company Ltd


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