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Integrated textile firm AB Cotspin India has announced plans to invest up to Rs 1,500 crore to significantly expand its manufacturing capacity. The investment will be funded through a combination of bank financing, internal accruals, and government incentives, ensuring a robust and balanced capital structure, the company said in a stock exchange filing. The expansion project will involve the addition of approximately 2,00,000 spindles to the company's existing capacity of 50,832 spindles, effectively doubling its production scale, the Bathinda-headquartered firm said. The new capacity will be established across India, with key locations in Madhya Pradesh and Maharashtra, and is expected to become fully operational within the next three years. "This strategic project covers a wide spectrum: acquiring land on lease; setting up state-of-the-art manufacturing plants for spinning, ginning, yarn manufacturing, and processing; developing modern warehousing and logistics infrastructure; an
Gandhinagar-based EPC player Savy Infra & Logistics on Sunday said it has fixed the price band at Rs 114-120 per equity share for its Rs 70 crore initial public offer, which will open for public subscription on July 21. The initial public offering (IPO) will conclude on July 23, and the company's shares will be listed on the NSE Emerge, Savy Infra & Logistics said in a statement. The IPO is entirely a fresh issue of up to 58.32 lakh equity shares. The net proceeds from the public issue worth Rs 49 crore will be utilised for funding working capital requirements and a balance for general corporate purposes. "The capital raised will support our working capital needs and enable us to scale both the EPC and logistics divisions efficiently," Savy Infra & Logistics Chairman and MD Tilak Mundhra said. Savy Infra and Logistics is engaged in the business of engineering, procurement, and construction (EPC) and logistics, with a focus on infrastructure projects. The company also ...