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| Exchange Disseminated Time | Visagar Polytex Ltd has informed BSE that the Company has received Sanction from HDFC Bank for total credit facilities, including existing limits, of upto Rs. 8,50,00,000 (Rupees Eight Crore Fifty Lacs Only) by way of Term Loan and CC. The said amounts would be utilized for the new Embroidery unit and expansion of the existing businesses.
The Company expect to begin production of the Embroidery unit at Gothan (Surat) by the end of this month. The initial capacity would be in excess of 125 billion stitches per annum, proposed to be increased to 200 billion stitches per annum by Q2 next year. With this unit, the Company plans to establish itself as a key player in the highly niche and untapped 'Lehenga' segment. |
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