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Strategic investors approaching us - Mudra Lifestyle
19
Oct '10
Mudra Lifestyle on October 14 informed the Bombay Stock Exchange (BSE) that, some of the strategic and financial investors have been approaching them with feelers and offers for buying a stake in the company.

The company said that, it is appraising the offers and is considering if any of these proposals is in interest of the firm and its stakeholders.

The information was passed on to the BSE by way of clarification to a newspaper report citing that, the company is in negotiations with South Korea based E-Land Group for a probable stake sale.

The company registered a turnover of Rs. 3.65 billion for the 2009-10 fiscal. It is involved in production, processing and designing of fabrics and garments to cater to the needs of both local as well as international markets. Also that it is now venturing into designer shirts and women's wear.

Recently, the company incurred an investment of more than three billion rupees as capital expenditure which is also expected to add to its current fiscal's earnings.

Seoul's E-Land Group is a fashion and garment firm, with extensive presence in the swiftly growing Asian markets.

Fibre2fashion News Desk - India

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