S P Apparels mulls IPO for expansion

20 Dec '06
1 min read

S P Apparels is planning for IPO in next six months. It is expected to float 25 to 30 percent shares through public issue.

The capital will be invested in brand promotion, product manufacturing and retailing.

The phase II expansion programme of the company includes backward linkages in spinning, knitting, wet-processing, garmenting, retailing and acquisition cost of brand, to reach about Rs3.7 billion.

30 percent expansion cost will be shared by capital raising and remaining will be accrued through debt financing.

With new investment, garment production capacity will increase to 250,000 pieces from current 150,000 pieces a day.

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