Date:12/05/2006 URL: http://www.thehindu.com/2006/05/12/stories/2006051204721600.htm

Business - Briefly

Gangotri Textiles' follow-on public offer

NEW DELHI: Coimbatore-based Gangotri Textiles will hit the capital market with a follow-on public issue on May 18 to raise Rs. 55 crore to part finance its Rs. 351 crore expansion-cum-integration plan. The proceeds of the issue, which will close on May 23, will be utilised to set up a ring cotton yarn spinning unit of 19,200 spindles, another polyester yarn spinning unit of 31,200 spindles and a garment manufacturing unit besides add six wind mills, GTL Managing Director, Manoj Kumar Tibrewal, said on Thursday, adding that the price band would be announced later.