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Indo Rama Textiles gets okay for listing
New Delhi, July 22: Indo Rama Textiles, the demerged spinning entity of Indo Rama Synthetics, on Monday said it has received approval for listing its shares on the National and Bombay Stock Exchanges.
New Delhi, July 22: Indo Rama Textiles, the demerged spinning entity of Indo Rama Synthetics, on Monday said it has received approval for listing its shares on the National and Bombay Stock Exchanges.
"The demerger and consequent restructuring of the share capital between Indo Rama Synthetics and Indo Rama Textiles has created a lean, independent organisation thereby providing a strtegic thrust to our business," president-Spinning Rajiv Aggarwal said in a statement.
IRSL had demerged the spinning operations of Synthetic Blended Yarns into a separate company with effect from April one, 2002.
"We are confident that the capital structure of the company with its favourable debt-equity ration, strong fundamentals and a dedicated customer base will help us seize the growing business opportunities which will help us enhance shareholder value," Aggarwal added.
Bureau Report