2006

Acquisition of Tashkent Toytepa Tekstil Ltd., Uzbekistan

Spentex had acquired the business of Tashkent Toyetepa Tekstil Limited, the state-controlled spinning entity in Uzbekistan.The Tashkent Plant had an installed capacity of 110,000 spindles and 108 air jet looms.
This International acquisition is in line with inorganic growth strategy pursued by the Company as Uzbekistan is world’s fifth largest cotton producer with 4% share of total output. With proximity to Eastern European markets and availability of quality cotton locally, it makes strategic sense for the Company to be present in Uzbekistan.

Acquisition of Nagpur Unit

With an installed capacity of 59,280 spindles, this unit manufacturers synthetic spun yarn. It has been consistently supplying its yarn to garment manufacturers and exporters catering to premier departmental stores and to the major manufacturer of carpet yarns in India and overseas. The unit exports to more than 60 countries in Europe, South-East Asia, Africa, the Middle East, the Mediterranean and Latin America.

Acquisition of Indore Unit

This unit also manufacturers synthetic spun yarn with an installed capacity of 63,696 spindles. The unit rolls out yarns of high quality which are well accepted worldwide.

Acquisition of Kolhapur Unit

This unit has an installed capacity of 30,672 spindles. After the acquisition, turn around strategy resulted in the capacity utilization rising in a very short span of time.

First QIP

(Qualified Institutional Placement)

2005

• Acquisition of Taichongbang Textiles Ltd, Ahmedabad
• Merger of all group companies in Spentex Industries Ltd.
• Signed agreement with Bombay Dyeing & Manufacturing Co. Ltd. to set up a contract manufacturing facility with 50,000 spindles at Solapur unit.
• Expansion of Baramati unit with 36,000 spindles.
• Equity participation by Citigroup’s Venture Capital Arm: CVCI.