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SPL Industries gears to launch new dyeing plant

24
Jun '05
The Delhi-based SPL Industries Limited, a leading manufacturer and exporter of knitted fabrics and garments, is setting up a new yarn dyeing plant for manufacturing woven garments, besides expanding the existing capacities for knitting and dyeing fabrics, and producing home furnishings and embroidery items at its five units in Faridabad, near Delhi.

SPL will require about Rs 5.17 crore, while the woven garment unit will require an investment of Rs 1.2 crore. Expanding home furnishing unit and embroidery section will involve an investment of Rs 80 lakh and Rs 60 lakh respectively.

In order to fund its expansion plans, slated for completion in September this year, SPL Industries Limited will float an IPO to raise Rs.54 crore to Rs.63 crore.

The IPO will consist of 90 lakh equity shares of Rs.10 each, offered at a price band of Rs.60 to per share. The issue, opening on June 29 will close on July 5.

Formerly known as Shivalik Prints Pvt Ltd, SPL exports 95 percent of its knitted apparels to USA, Europe, Canada and Japan. The company also exports bed sheets, curtains and pillows to Middle-East and the USA.


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