Technocraft Industries (India) Ltd is going ahead with major expansion plans, involving an outlay of Rs 70 crore for its drum closure division, tubes division and textile division.
In the textile division segment, company plans to set up a cotton yarn mill with 27640 spindles to produce finer counts adding to existing capacity of 35904 spindles at the cost of Rs 66.89 crore.
Technocraft Industries plans to accrue Rs 13.37 crore through proposed Initial Public Offer (IPO), and the balance Rs 53.52 crore has been tied up through a Rupee Term Loan from Bank of India.
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