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Ginni Filaments IPO on Dec 19
14 Dec '05
2 min read
Processed knitted fabrics producer Ginni Filaments Limited is planning to enter in capital market with an IPO on December 19 to raise upto Rs 60 crore to partly fund its Rupees 204.24 crore expansion plan.
Of the remaining amount, Rs 144 crore has been sanctioned as term loan and Rs 60 crore would be raised through public issue. The issue will close on December 23.
Ginni Filament Managing Director Shishir Jaipuria stated that the IPO will be funded through 100 per cent book building, will comprise promoters' contribution of Rs 12 crore and net offer to the public would be Rupees 48 crore.
The company plans to enhance its open-end spinning capacity by increasing from 960 rotors to 1680 rotors while the ring spinning capacity would be increased from 54,432 spindles to 71,232 spindles, he said.
He also informed that company is also planning to produce non-woven fabrics at Panoli at an estimated cost of Rs 131 crore with manufacturing capacity at 12000 metric tones.
Ginni would also set up manufacturing garment unit at Faridabad for Rs eight crore. It would have a production capacity of 52 lakh pieces of undergarments per year.
India's leading company GINNI FILAMENTS Ltd is also produce cotton yarns.
Of the remaining amount, Rs 144 crore has been sanctioned as term loan and Rs 60 crore would be raised through public issue. The issue will close on December 23.
Ginni Filament Managing Director Shishir Jaipuria stated that the IPO will be funded through 100 per cent book building, will comprise promoters' contribution of Rs 12 crore and net offer to the public would be Rupees 48 crore.
The company plans to enhance its open-end spinning capacity by increasing from 960 rotors to 1680 rotors while the ring spinning capacity would be increased from 54,432 spindles to 71,232 spindles, he said.
He also informed that company is also planning to produce non-woven fabrics at Panoli at an estimated cost of Rs 131 crore with manufacturing capacity at 12000 metric tones.
Ginni would also set up manufacturing garment unit at Faridabad for Rs eight crore. It would have a production capacity of 52 lakh pieces of undergarments per year.
India's leading company GINNI FILAMENTS Ltd is also produce cotton yarns.
The Economics Times
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