Mudra Lifestyle Ltd to invest Rs 300 cr in yarn project

New Delhi, Dec 20: Garment manufacturer and exporter Mudra Lifestyle Ltd today said it will invest Rs 300 crores to set up a yarn project.

''The project will preferably be in the state of Uttarakhand or Himachal Pradesh either directly as a division of the company or through a subsidiary. The proposed Spandex or Elastomeric project would be funded by way of warrants amounting to Rs 36 crore, foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) or american depository receipts (ADRs) upto Rs 200 crore, and the balance by way of bank loans,'' a comapny statement said.

UNI