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Gini & Jony to float Rs100-cr public issue

Feb '06
Kids' wear manufacturer Gini & Jony has planned a public issue by end of this fiscal.

Giving reasons for this decision, a senior official of the company informed media that company would utilize this finance for strengthening its manufacturing capacity and for the proposed retail expansion.

Official also added that the Initial Public Offer (IPO) would be offered sometime in May and the volume of the issue could be beyond Rs100 crore.

Capacity expansion programme also includes three new units in Baddi (Himachal Predesh) and Daman (Union Territory) in next three months where its two production units are functioning.

Considering the retail chain for kidswear, company plans to increase its presence forming joint venture with Pantaloon.

In this strategic partnership, parent company would deal with manufacturing and distribution, and the new entity will handle retail and design segments.

While three brands will be retailed under single-brand retail outlets, the company also aims for opening retail outlets for the respective brands.

Company plans to launch about 24 exclusive outlets next year, said the official.

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