Avon Cycles is expanding production capacity at its plant in Ludhiana by some 50 percent.
The company is infusing EUR 12.5 million in the hiked capacity which enables production of some 15,000 bicycles per day.
The plant currently has the capacity to produce 10,000 units per day. An additional floor area of 2,40,000 sq ft will be also be added. For this an investment of Rs one billion will be made in FY20.