Lakshmi Cotsyn Ltd to issue FCCB/GDR and ADR

Kolkata, Jun 04 (UNI) Shri Lakshmi Cotsyn Ltd (SLCL), ISO 9001-2000 accredited company involved in textile manufacturing, has approved in principle, the issue of FCCB/GDR in its board meeting on May 31.

The FCCB/GDR would be of US$ 20 million and issued on preferential basis to Foreign Institutional Investors and Financial Institutions. The objectives for the issue of GDR/ADR is to raise funds for their ongoing projects.

Shri Lakshmi is an acknowledged leader in the field of microdot fusible interlining fabrics, P C Suiting, Camouflage Fabrics, industrial and institutional segment including Nuclear Bio-Chemical Fabrics, Infra Red Protective Fabrics, Bullet Proof Jackets and High Altitude Fabrics.

It was set to establish its leadership in the arena of wearable apparels and home furnishing, including Terry Towels, Denim Fabrics, Bottom Weight Fabrics, Embroidery, Lace and Quilted Fabrics.

The Company has completed its Rs 264 crore expansion programme and the commercial production has already begun.

The commercial operations from this project would add around Rs 180 crores, enhancing total turnover of Rs 600 crore by this month.

The turnover is expected to further go up to Rs 800 crore in 2007-08 and Rs 1000 crore in 2008-09.

UNI