Sudar Garments Limited, engaged in the manufacturing of garments for Mens wear, Womens wear and Kids wear, proposes to enter the capital markets soon to meet its funding requirement for expansion of the existing apparel manufacturing capacity, setting up of retail outlets and brand building. The Company has received the SEBI nod for it.
The Company proposes to offer 90.88 lac equity shares of Rs 10 each to the public through 100% book building process. The Issue would constitute 49% of the fully diluted post-issue capital of the Company. Ashika Capital Limited is the sole Book Running Lead Manager for the Issue and Link Intime India Pvt Ltd is the Registrar to the Issue.
The integrated apparel manufacturer with a capacity of two million garments per annum, Sudar Garments Ltd presently manufactures under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’. The core competency of the Company lies in its in-house manufacturing and embroidery skills.
The total income of the Sudar Garments Ltd has grown from Rs 889 lacs in 2007-08 to Rs 2090 lacs in 2008-09 and further to Rs 5397 lacs for 2009-10. The net profit during the same period has increased from Rs 27.58 lacs, Rs 58.81 lacs and Rs 411.26 lacs respectively.
About Sudar Garments:
Sudar Garments Limited, Mumbai based company is engaged in the manufacturing of garments for Mens wear, Womens wear and Kids wear. The company specializes in shirts, trousers and wide range of other apparel. It functions as an integrated apparel manufacturer with the capability of designing and manufacturing involving cutting, body stitching, washing, ironing and finishing. The company has its own manufacturing setup at Khalapur Taluka, Raigad District, Maharashtra with a built-up area of about, 29,626.30 Sq. Mtr. having a combined capacity of producing 20 lacs pieces of shirts, dress, pants, tops, skirts, and denims per annum. This unit caters to the requirement of Whole Sellers as well as own branded products through retail distribution network such as Malls and Multi Branded Outlets. The company presently manufactures under its own brand name “Glory to Glory” and will be launching shortly two more brands namely ‘St. Paul’ and ‘Majesty’.
