Indian apparel exporter Superfine Knitters rolls out IPO | Apparel News India
Home » News » Apparel Exporters News » Indian Apparel Exporter Superfine Knitters Rolls Out Ipo

Indian apparel exporter Superfine Knitters rolls out IPO

Share: 
      Newsletter

READ MORE ON Growth StrategiesIndian Apparel ExporterIPO

Initial Public Offering

Image Courtesy: nordaxgroup.com

Superfine Knitters, one of the well-known fabric and apparel manufacturers based in Ludhiana, Punjab, India is coming up with its IPO (Initial Public Offering) of Rs. 4.08 crore. Thrilled about this move, Ajit Lakra, Managing Director of the company who is also associated with many industry associations of the city, told Apparel Resources, “It is better to go in public for funds rather than paying interest to the banks. With funds, we will however improve overall but there are four key points that we have on priority. These are technology upgradation for fabric manufacturing, energy audit, system upgradations and increased efficiency. All these four areas will lead to further profitability of our company.”

Superfine Knitters is the first apparel company in Ludhiana which will be listed on an SME platform of Bombay Stock Exchange (BSE). It appears to be a trend that apparel companies across the nation are now moving toward IPOs as recently Jaipur-based apparel manufacturer and online retailer Nandani Creation also listed itself for the same amount.

Also Read – Superfine Knitters working to improve systems

Superfine Knitterswhich noted turnover of 84.28 crore in 2015-16 is catering mainly to domestic market and working with apparel brands like Pepe Jeans, Benetton, Numero Uno, Crimsoune Club, Life Style, Bioworld, etc. Out of its total apparel production, the apparel manufacturer exports 25 per cent and will continue the same strategy in future also as Ajit says, “Though there is growth in export business but domestic has more scope and growth opportunities, so we will have major focus on domestic.” In its total business, fabric sales contribute almost 40 per cent. Currently,the company has two manufacturing units in Ludhiana with the workforce of more than 500. The company is also active on sustainability front as it is using solar power in its factory which is not common in Ludhiana’s textile & apparel industry.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Taiwanese garment factory in Vietnam engulfs in massive fire

Firefighters were battling a massive fire that erupted at a Taiwan-based Kwong Lung’s Meko Garment Company, which specializes in feather processing and garment...

Indian apparel exporter Superhouse believes innovation drives success

“To have a mindset for innovation is what keeps you always ahead of others,” believes Mohd. Faiz, Owner of Superhouse Limited, a US...

Indian sportswear manufacturer Vella Sports aims to expand its reach

“People in remotest villages feel proud to wear our brand Vella,” says a confident and young owner of Vella Sports Ashish Dudeja, who...

India’s Satya Knitwears to start its own processing plant

Exporting tees to clients like Superdry in England and Switzerland, Ludhiana’s (India) emerging apparel exporter Satya Knitwears (associated with knitting machine supplier firm PK International and having started apparel business...

Indian apparel exporter Aakriti Creations takes ‘customer satisfaction’ on priority

“We believe in serving the same client. There is nothing more satisfying than that,” believes Aditya Mathur, Director, Aakriti Creations Private Limited. The...

Solstice achieves 30% efficiency boost via innovative training programme

Solstice, a Dhaka-based apparel export house, has proposed the framework of training programme derived from the “Design Thinking” ideology aimed at de-stressing workers on the shopfloor to enhance efficiency. The...

Silver Spark Apparel’s Ethiopian factory to be operational by May

India-based Silver Spark Apparel, a subsidiary of Raymond Group, is expecting to start its Ethiopian (in Awasa) factory in May this year. As per the schedule, the factory was to...

Bangladesh’s MK Sweaters to install 40 SHIMA SEIKI machines

MK Sweaters, a Bangladesh-based export house set up in 2003 by Md. Salim Rana, Chairman and Russell Rana, Executive Director of the company, has created unique blends of spandex, acrylic...

Gokaldas Exports to open 4 units in Andhra Pradesh (India)

Indian apparel exporter Gokaldas Exports Limited (GEL), which has an annual turnover of Rs. 113,749 lakh and 25,000 direct employees in 23 units...

Apparel exporter Virender Textiles expects 25% growth this fiscal

Founded by S P Gupta in 1973, Gurgaon-based garment export house Virender Textiles is moving into multiple directions and expecting good growth. The company, with the capacity of one lakh...