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ReturnHimatsingka Seide- Bangalore based silk exporter to cap debt at Rs 350 cr
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PublishDate：
2005-09-15 09:27:00
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Himatsingka Seide, Bangalore based silk exporter, that it is capping its debt limits to Rs 350 crore its future expansions.
In an announcement to the Bombay Stock Exchange the company has said it is calling for an EGM on October 5 to get this approval the company has also stated that it is increasing its authorised share capital from Rs 20 crore divided into 2 crore equity shares of Rs 10 each to Rs 50 crore by creation of additional 3 crore equity shares of Rs 10 each.
Simultaneously each of the 5 crore equity shares of Rs 10 be sub-divided into 10 crore equity shares of nominal value Rs 5 each.
The company has lined up an expansion plan of Rs 330 crore to set up an integrated sheeting plant at Hassan, which is a special economic zone (SEZ). The new plant is expected to commission production in financial year 2007.
The company will also invest Rs 70 crore to set up a cutting and sewing facility near Bangalore.
The company is planning to enhance its retail presence by setting up its stores in the Persian Gulf countries besides enhancing its domestic presence.
In an announcement to the Bombay Stock Exchange the company has said it is calling for an EGM on October 5 to get this approval the company has also stated that it is increasing its authorised share capital from Rs 20 crore divided into 2 crore equity shares of Rs 10 each to Rs 50 crore by creation of additional 3 crore equity shares of Rs 10 each.
Simultaneously each of the 5 crore equity shares of Rs 10 be sub-divided into 10 crore equity shares of nominal value Rs 5 each.
The company has lined up an expansion plan of Rs 330 crore to set up an integrated sheeting plant at Hassan, which is a special economic zone (SEZ). The new plant is expected to commission production in financial year 2007.
The company will also invest Rs 70 crore to set up a cutting and sewing facility near Bangalore.
The company is planning to enhance its retail presence by setting up its stores in the Persian Gulf countries besides enhancing its domestic presence.
