ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Lakshana Cotton

EPW Research Foundation Gee EI Woollens GEE EL WOOLLENS is entering the capital market on May 11 with a public issue of 40.18 lakh equity shares of Rs 10 each at par. The issue is being made to part finance its Rs 4.82 crore project for expansion of spinning capacity from 600 tpa to 1,500 tpa as also for setting up a tufted and loom carpet unit by way of forward integration. The project is being set up at Bikaner in Rajasthan and is expected to go on stream in September this year. The company's equity which stands at Rs 33 lakh at present will go up to Rs 4.4 crore after the issue. The lead managers to the issue are SBI Caps and POL Leasing. Gee EL has reported a turnover of Rs 1.75 crore and a net profit of Rs 10.8 lakh for the nine-month period ended September 1993. It has projected a turnover of Rs 4.1 crore and net profit of Rs 30 lakh for the 18- monlh period ending September 1994.

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