Titan Industries is all set to embark on a project to further expand its retail outlets and manufacturing base in the country. The firm earned Rs 126.83 crore from its rights issue.The company informed the BSE that the issue was over-subscribed 20% and allotment of the new shares and debentures was made on May 12 this year. The company had allotted 21,13,038 equity shares of Rs 10 each at a premium of Rs 340 per share and an equal number of non-convertible debentures of Rs 250 each, to over 29,000 applicants. During FY06, the company's sales turnover grew 30% to Rs 1481 crore thanks to the performance of both time products and jewellery divisions. The turnover in FY05 was Rs 1,135 crore. While the watch segment grew 14.9% to a sales income of Rs 654 crore, the Jewellery sales went up 40% to Rs 790 crore.
