Indus Fila Ltd to invest Rs 166.24 cr in expansion

Bangalore, Dec 13 (UNI) Textile major Indus Fila Limited has drawn up a Rs 166.24 crore expansion plan to increase the capacities in weaving and yarn dyeing, and setting up of a 'Centre of Excellence'.

To part finance the expansion project, the company proposed to enter the capital market with an IPO of 4,843,789 equity shares of Rs ten each through 100 per cent book building process. The company had filed DRHP with the SEBI for the purpose, according to a release here today.

The company's operational income and profit after tax (PAT) for the year ended March 31, 2006, was Rs 82.49 crore and Rs 5.49 crore respectively and for the first half year ending September 30 this year, it was Rs 109.18 crore and Rs 10.63 crore respectively.

Indus Fila, engaged in yarn dyeing, fabric weaving, fabric processing and apparel manufacturing, presently operated with 156 weaving looms producing approximately 20.80 million mt of fabric per annum and 750 sewing machines with a production capacity of 2.70 million garments per annum.

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