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Chiripal Industries files DRHP with the SEBI
25 Mar '08
4 min read
Chiripal Industries Limited has been accredited with ISO 9001:2000 by SGS United Kingdom Limited for its chemical division, polar fleece division, warp knitting division, flocks printing division, texturizing division and POY division.
To consolidate its operations, the company has laid out a capacity expansion program at a total cost of Rs. 2313.31 million. The proposed expansion program inter alia, includes expansion of its POY, FDY, Texturised yarn facilities, warp knitting facilities, embroidery facilities, processing facilities and readymade garments facilities.
The company would also be setting up a new yarn dyeing facilities, fabric dyeing facilities and weaving facilities. A new 7.50 MW lignite based power plant would also be installed to cut down on its power cost.
Out of the total issue proceeds, Rs. 533.31 million would be used to finance the expansion program. The company would also be availing term loans to the tune of Rs. 1670 million to part finance the expansion program.
Chiripal Industries Limited would be investing in its subsidiary Chiripal Lifestyle Limited for the purpose of opening of exclusive brand outlets by the name of “ConneXions”. Chiripal Lifestyle Limited would be opening around 110 outlets in three phases. Chiripal Industries Limited would be investing Rs. 60 million out of the issue proceeds, in Chiripal Lifestyle Limited to finance the first phase of 20 outlets.
Chiripal Industries Limited would also be acquiring 43% stake in Vraj Integrated Textile Park Limited, an SPV incorporated by a group of entrepreneurs led by Chiripal Group for setting up of an Integrated Textile Park near Ahmedabad. The textile park would be spread over 57.07 acres. The textile park is being developed under the Scheme of Integrated Textile Park, framed by the Ministry of Textiles, Government of India. The textile park would be having 36 units for spinning, weaving, processing, garmenting, sizing & yarn dyeing.
To consolidate its operations, the company has laid out a capacity expansion program at a total cost of Rs. 2313.31 million. The proposed expansion program inter alia, includes expansion of its POY, FDY, Texturised yarn facilities, warp knitting facilities, embroidery facilities, processing facilities and readymade garments facilities.
The company would also be setting up a new yarn dyeing facilities, fabric dyeing facilities and weaving facilities. A new 7.50 MW lignite based power plant would also be installed to cut down on its power cost.
Out of the total issue proceeds, Rs. 533.31 million would be used to finance the expansion program. The company would also be availing term loans to the tune of Rs. 1670 million to part finance the expansion program.
Chiripal Industries Limited would be investing in its subsidiary Chiripal Lifestyle Limited for the purpose of opening of exclusive brand outlets by the name of “ConneXions”. Chiripal Lifestyle Limited would be opening around 110 outlets in three phases. Chiripal Industries Limited would be investing Rs. 60 million out of the issue proceeds, in Chiripal Lifestyle Limited to finance the first phase of 20 outlets.
Chiripal Industries Limited would also be acquiring 43% stake in Vraj Integrated Textile Park Limited, an SPV incorporated by a group of entrepreneurs led by Chiripal Group for setting up of an Integrated Textile Park near Ahmedabad. The textile park would be spread over 57.07 acres. The textile park is being developed under the Scheme of Integrated Textile Park, framed by the Ministry of Textiles, Government of India. The textile park would be having 36 units for spinning, weaving, processing, garmenting, sizing & yarn dyeing.
Chiripal Industries Limited
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