Home / Knowledge / News / Textiles / Shri Lakshmi Cotsyn board approves Rs 12 bn capex plan

Shri Lakshmi Cotsyn board approves Rs 12 bn capex plan

10
Jun '09
Shri Lakshmi Cotsyn Limited (SLCL), diversified group engaged in manufacturing and processing a very wide range of end-to -end textile products and safety textiles for defence and paramilitary forces has announced that the company at its board meeting held in Kanpur, has approved its fund raising plans worth Rs 1200 cr for capital expenditure required for various projects.

Shri Lakshmi's Rs 1200 cr capex plan includes
• Plans to enhance the capacity of its Fusible Interlining division to 25 million meters from 12.5 million meters at present.
• Expansion in Denim Fabric Manufacturing Capacity.
• Expansion in Bed Linen Fabric Manufacturing Capacity
• Plans to set up spinning unit with one lakh spindles.
• Venturing into the manufacturing of Blackout Fabric
• Setting up a project for IRR Fabric.
• Company plans to open 1500 Retail Outlets across the Country by 2011 based on Franchisee model

Chairman and Managing Director MP Agarwal said: “We have a diversified expansion plan for our various verticals that includes, home furnishing, terry towels, fusible interlining, denim fabrics, technical textile fabrics, blackout fabric, IRR fabric and our proposed retail venture.

The company is also in the process of backward expansion of its existing verticals and is in talks with some non-performing private cotton textile companies for acquisitions”

The Board of Directors of the company has also approved fund raising Rs 12.50 crore by issuing 25 lakh convertible warrants on preferential basis to strategic investors. Each warrant would have an option of converting into an equity share at Rs 10 each at a premium of Rs 40 each.

SLCL has recently also allotted 7,78,500 No. of equity shares of Rs. 10/- each at a premium of 90/- per equity shares to the promoter group after approving the conversion of 7,78,500 No. of warrants out of 30,00,000 warrants in compliance with the provisions of Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Shri Lakshmi Cotsyn Limited


Must ReadView All

Pic: Valiantsin Korznikau | Dreamstime.com

Textiles | On 30th Nov 2021

US real GDP rises at annual rate of 2.1% in Q3 2021: BEA

US real gross domestic product (GDP) increased at an annual rate of...

Pic: Stuart Key | Dreamstime.com

Apparel/Garments | On 30th Nov 2021

Turkey’s apparel exports rise 23.39% in Jan-Oct ’21

Apparel exports from Turkey increased by 25.72 per cent year-on-year...

Pic: Komgrit Pradissagul | Dreamstime.com

Textiles | On 30th Nov 2021

Italian firms see Turkey as alternative to Chinese supply chains

Turkey-Italy trade will exceed $20 billion this year and the two...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Sanjay Jhunjhunwalla,

Sanjay Jhunjhunwalla

In the financial hub of eastern India, Kolkata, a humble production...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search