Ludhiana based SEL Manufacturing has unveiled its plan to set up a new
textile facility near Bhopal, Madhya Pradesh, with an investment of Rs 800
crore.
The proposed plant is expected to have an installed capacity of 1,95,840
spindles. With the completion of the plant, SEL's total installed capacity will
reach four lakh spindles.
The company plans to raise $50 million (approx Rs 227.5 crore) through global
depository receipts (GDR). In the first phase of GDR, the company has already
raised $10 million (approx Rs 45.5 crore) and is in the process of coming out
with second phase of GDR, which is to be completed shortly.
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