Technocraft Industries is planning
capacity expansion of its existing textile unit in Maharashtra with an investment of
Rs.125 crore.
Out of the total project cost,
- Rs.66 crore will invested to
increase the capacity of its cotton yarn from existing 36,000 tpa to 61,000
tpa.
- Rs.21 crore will be invested in the
scaffolding business and another Rs.20 crore for increasing the capacity of
its drum closures unit.
The capital expenditure is part of the
Group's Rs.350 crore plan to cross the Rs.500 crore mark by 2008.
To part-finance the investment, the
company is planning to tap the capital markets and is coming out with a mid-cap
IPO by June 2006 and rest of the money will be raised through debts.