Ichalkaranji-based Ramkrishna (Jhanwar) Group which is known for the manufacturing of value-added world-class fabric is planning to bring its IPO (Initial Public Offer). Currently, this textile company is in the planning stage (for IPO) and it may take one year.
The Group, which had a turnover of Rs. 120 crore last year, is expecting to reach Rs. 130 crore during FY 2019-20.
The Group has completed an expansion in production capacity with the installation of 48 Airjet Loom Weaver as Master Weaver. The production capacity, which was 53,000 metres fabric per day, has now increased to 63,000 metres per day.
Sharing this information, Deendayal Jhanwar, Chairman of the Group informed that “For ultrafine luxury cotton fabric made with Giza Cotton in 232’S Double Yarn’, we are the only weaver in decentralised sector to manufacture it for the first time in India.
The Group will manufacture polyester fabric from Reliance’s recycled fibre R-Elan and Green –Gold yarn. The yarn will be made from 100 per cent PET bottle recycling, which will be eco-friendly.
“Due to Coronavirus, the global importing countries of textiles & clothing are now looking at India for sourcing their requirements in place of China. This will provide a boost to the local industries,” he added.
The Group, supplying fabrics for global fashion retailers M&S, H&M, American Eagle, Ralph Lauren and Zara, among others offers a product range of more than 3,700 varieties of fabrics in 100 per cent cotton and multi-fibre fabrics.
