Integrated textile firm SEL Manufacturing Company Limited, which is a subsidiary of R S Saluja Group, is preparing to introduce an IPO shortly for financing its Rs184.57 crore expansion plan.
Company produces cotton yarn, knitted fabrics and garments and exports the same. It has plants at Ludhiana in Punjab and Baddi in Himachal Pradesh. Spinning, knitting and production capacity of clothing are to be upturned under the plan.
Presently, SEL functions with an annual production capacity of 2.5 million garments. It has 29,856 yarn spindles and knitted fabric production capacity of 1,950 tons per year.
Managing Director Neeraj Saluja conveyed that expansion will elevate manufacturing capacities to 74,256 spindles, four million garments per year and 4,950 tons of knitted fabrics per year.
Company achieved net profit of Rs118.50 crores during this year.
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