Pantaloon Industries Limited (PIL) formerly known as Pantaloon Textile Industries set up textile units at Bhoisar, Thane, with an installed capacity of 5.30 lac mtr. In 1992-93, it expanded the initial capacity to 30.42 lac mtr in phases. In the first phase, it installed 24 looms and commenced the commercial production in Oct.'93. Since the order placed for 12 looms with a foreign party could not materialise due to the delay in the completion of import documentation, the second phase which was supposed to commence production by Apr.'94, was delayed. The company then imported 22 additional looms from Germany and Holland. 35% of the fabric produced is sold in-house to the group concern Pantaloon Fashions (India). In Apr.'98, the company had undertaken expansion in the existing capacities by installation of 14 additional imported looms. The installed capacity will increase from 30.42 lacs meters of fabrics per annum to 38.10 lacs meters of fabrics. During 1999, the company has allotted 10,00,000 11% Cumulative Preference Shares of Rs.10/- each aggregating Rs.1,00,00,000/- on private placement basis.