Alok Textiles forays into readymade segment

Nitin Chittal

Mumbai, Aug 2: Alok Textiles Ltd (ATL), manufacturer of cotton and polyester fabric has forayed into the readymade segment of the textile industry. This, says executive director, Surendra B Jiwrajkar, "is the logical extension of the company's capabilities." ATL has started test marketing its range of T-shirts for both men and women in Mumbai under the trial brand name Buds. According to the company, the response has been enthusiastic. Queried about the target segment, Jiwrajkar said, "We believe in value for money. What you get for $50 (Rs 2,160) abroad, we will make it available in India at Rs 300." ATL manufactures woven and knitted fabrics at Silvassa and Navi Mumbai. During 1998-99, the company completed an expansion of its weaving capacity, taking its total capacity to 216,00,000 metres of woven fabric per annum. The knitting division too finished installing 28 machines, an addition of 18 machines in 1998-99. Most of the expansion was funded through internal accruals and promoters' investment in thecompany at a premium of Rs 10 per share. ATL also managed to privately place 87.77 lakh shares at a premium of Rs.7.50, aggregating Rs.15.36 crore.

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