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Mudra Lifestyle to raise fund for project through IPO

14
Feb '07
Mudra Lifestyle is going to issue initial public offer (IPO) for future expansion plans.

Its growth prospect would mainly depend on successful transformation from fabric manufacturer to garment supplier.

Company is gradually expanding its garment business. It is going on with a project worth Rs180 crore that can expand its current weaving, processing and garment capacity.

Project will also assist company to establish a new yarn dyeing facility. This will boost its garment production capacity to 10 million pieces a year.

Its weaving and garment capacities will start operations by May and processing capacities in October.

The capital of Rs80 crore raised from the IPO will be used to partly fund this project and Rs100 crore for debt raised under TUFS scheme.


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