Banka (India)

EPW Research Foundation ONE of the leading names in the Indian textile industry, S Kumars Synfabs is going public The company is entering the capital market with an issue of 38,50,000 equity shares of Rs 10 each at a premium of Rs 26 per share and 1,66,000 zero interest zero dividend convertible preference shares of Rs 100 each at par. The issue which is slated to open on October 27, will be lead managed by SBI Capital Markets and DSP Financial Consul- tants. Incorporated in 1990, and promoted by S Kumar Enterprises (Synfabs), the company has access to the group's network of over 150 wholesalers servicing more than 25,000 retailers throughout the country. The company's units at Dewas and Pithampur are located close to the Grasim Industries' plant which is India's largest producer of viscose staple fibre, a major raw material for the company. Looms required for the company's expansion project are expected to arrive by March 1994 and the plant and machinery is expected to be commissioned by June. The company plans to export up to 25 per cent of its production to West Asia and UK/Europe.