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Abhishek Mills to establish yarn dyeing & weaving unit

19
Mar '07
Textile and infrastructure enterprise Abhishek Mills Limited is releasing an IPO today. Company will use proceeds of the issue to construct an integrated yarn dyeing, weaving and fabric processing facility at Tamgaon in Maharashtra's Kolhapur district, along with additional spinning units.

Abhishek Mills expects to raise Rs68.88 crores from issue proceeds and internal accruals. It will collect Rs149.90 crores through term debt under TUFS to meet net expenditure of Rs218.78 crores for the plant.

Plant should begin commercial production by January next year. Yarn manufactured by company's spinning units will be used for weaving operations at the plant to make yarn-dyed shirting fabric for export purposes.


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