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Our Bureau

Mumbai , Nov. 8

Bombay Rayon Fashions Ltd has announced major capacity expansions in garments and fabrics. The company proposes to finance its plans by raising term loans under TUFs and issuing equity. The company's board today approved plans for raising upto Rs 300 crore through Qualified Institutional Placements.

The board has also approved the issue of 61,00,000 warrants to the promoters, convertible into equity shares, on a preferential allotment basis.

Bombay Rayon proposes to expand garment making capacity from the present 64,000 units per day to 1,50,000 units per day in a phased manner and set up a new greenfield processing capacity of 70 million metres per annum raising the total fabric manufacturing capacity to 120 million metres per annum.

Shares of the company fell 4.61 per cent to close at Rs 214.20 on BSE.

More Stories on : New Projects | Readymade Garments

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