Kamal Oswal, Vice Chairman and Managing Director of Nahar Group said, that the Nahar Group is planning to list its only unlisted company, Oswal Woollens Ltd, in a span of 6 to 7 months.
He said the details would be finalized in a few months regarding the initial public offer size which could be around Rs150 to 200 crore.
Besides embarking on a Rs800 crore growth plan including setting up retail outlets, the group carried out a substantial reshuffle and combined Nahar Spinning and Nahar Exports.
The first phase of the growth plan is likely to be completed in 1 to 2 months while the second phase is expected to be over by March 2008 costing Rs400 crore each.
The objective of the expansion is to position NIEL as one of the leading textile players in the industry as they are looking at textile in a big way, said the Chairman.
marketing@alchempro.com
