Nahar plans Oswal Woollens IPO

 Oswal said the initial public offer size could be Rs 150-200 crore and the details would be finalised in next few months.

 The group carried out a massive restructuring and merged Nahar Spinning and Nahar Exports, besides embarking on a Rs 800 crore expansion plan which includes setting up retail outlets.

The expansion plan is being implemented in two phases of Rs 400 crore each, with phase I likely to be a completed in 1-2 months while the phase II is expected to be over by March 2008.

 Oswal said:  "We are looking at textile in a big way. The objective of the expansion is to position NIEL as one of the leading textile players in the industry."