Bannari Amman Spinning plans IPO

 The book running lead managers to the issue are IL&FS and ICICI Securities and the registrar is Intime Spectrum Registry, the company said in a release today.

 The company, which is in the business of cotton yarn and spinning
and weaving, is now stepping up production to take advantage of growing opportunities in the quota-free regime, the release added.

 The company had a net profit of Rs 11.53 crore in 2004-05.

 Bannari Amman is a diversified group with an annual turnover of  Rs 1,200 crore and business interests in sugar, textiles, food processing, granite processing, power generation, transportation, distillery, automobile distribution and healthcare.