Date:14/12/2006 URL: http://www.thehindubusinessline.com/2006/12/14/stories/2006121404980300.htm

Back Indus Fila plans to expand

Our Bureau

Bangalore, Dec. 13

Textile manufacturer Indus Fila Ltd plans to invest Rs 166.24 crore in increasing its capacities in weaving, yarn dyeing, processing and garmenting and setting up `centres of excellence'. To part finance this expansion project, the company proposes to enter the capital market with an IPO of 48 lakh equity shares of Rs 10 each through a 100 per cent book building process. It has filed a draft red herring prospectus with SEBI for the purpose.

Indus Fila has production and distribution facilities in Bangalore and Mysore. It also has distribution facilities in Chennai and Mumbai. Currently, it has 156 weaving looms producing about 20.80 million metres of fabric per annum and 750 sewing machines with production capacity of 2.70 million garments per annum. The company's operational income and profit after tax for the year ended March 31is Rs 82.49 crore and Rs 5.49 crore, respectively.