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Apparel exporter OCL mulls over IPO
10 May '06
1 min read
As part of its growth plan, apparel exporter Orient Craft Ltd (OCL), will issue an Initial Public Offer (IPO) at the end of this year.
Company plans to raise about Rs350 crore to back its expansion plans and establish a Special Economic Zone (SEZ) in Gurgaon.
Company is in the process of finalising IPO, for which Kotak Mahindra has been appointed as merchant banker, informed OCL Chairman and Managing Director Sudhir Dhingra.
With IPO generated finance, company will establish new facilities over the next two years, Dhingra added.
Company already possesses 23 facilities and manufactures 30 lakh garment pieces a month, and it plans to invest Rs200 crore for setting up new facilities in National Capital Region.
About SEZ plans, Dhingra said it would be a 600-acre textile SEZ with an anticipated investment of Rs2000 crore.
Company plans to raise about Rs350 crore to back its expansion plans and establish a Special Economic Zone (SEZ) in Gurgaon.
Company is in the process of finalising IPO, for which Kotak Mahindra has been appointed as merchant banker, informed OCL Chairman and Managing Director Sudhir Dhingra.
With IPO generated finance, company will establish new facilities over the next two years, Dhingra added.
Company already possesses 23 facilities and manufactures 30 lakh garment pieces a month, and it plans to invest Rs200 crore for setting up new facilities in National Capital Region.
About SEZ plans, Dhingra said it would be a 600-acre textile SEZ with an anticipated investment of Rs2000 crore.
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