Likewise other leading garment manufacturers in the country, leading garment exporter and licensee of Barbie The Shirt Company (India) Pvt Ltd is also planning float an initial public offering (IPO) in the upcoming couple of months.
The company intends to raise Rs 45 crore from the IPO to establish a textile processing unit and garment unit in Navi Mumbai.
Chairman of The Shirt Company (India) Pvt Ltd, Shivanand B. Shetty informed that the textile-processing unit would facilitate printing, dyeing and bleaching. The unit would produce around 8 lakh metres of fabric per month and its production capacity will be raised up by adding 3-4 lakh garments a month.
The unit is likely to replace 80 percent of the company's fabric imports.
Shetty explained that the Navi Mumbai provides quality infrastructure and will cut down delivery times substantially, however many producers turn to Gujarat and places such as Daman to pull down their costs of operation
Out of the raised capital from IPO, Rs 20 crore will be invested to set up the unit and the garment unit with about 500 sewing machines. The remaining is likely to headed for working capital costs. The unit is anticipated to be fully functional by October 2006.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
