KSL & Industries Ltd (KSLIL), the flagship company of Saurabh Tayal Enterprise, is to inject Rs 600 crore in order to expand its textile operations.
Expansion project will be part financed with a debt-equity ratio of 1:1 and through debt financing from a consortium of banks.
Remaining amount of Rs 300 crore will either by funded by floating IPO in the domestic market or issuing GDR in the overseas market in a month's time, expressed Tayal.
The funds will be incurred on adding 1.50 lakh spindles for manufacturing yarn, knitting and fabric processing capacity and garments at the company's Kalmeshwar Mill near Nagpur.
Total spinning capacity at present is 10,000 tons per annum (TPA) with 65,000 spindles, 19,000 TPA of knitting and 1,000 TPA of processing, conveyed Tayal.
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