Hosiery maker Dollar Industries, which sells innerwear brands Bigboss and Force, is planning to get listed on the BSE in the current financial year.
The company with annual turnover of Rs 690 crore (Rs 6.9 billion) has appointed merchant bankers for this.
“It is our priority to get listed this year. Final details are being worked out,” said Vinod Gupta, managing director of Dollar Industries.
It is learnt Anand Rathi Financial Services is handling the listing process for the Kolkata-based company.
Dollar Industries' primary competitors are Lux, Jockey, and Hanes in the Rs 5,000-crore (Rs 50-billion) organised hosiery and knitted products segment.
The company recently completed its full integration at the Tirupur unit.
It also plans to set up a new factory at Ludhiana in Punjab.
The company’s present capacity is about 400,000 units a day.
The Ludhiana unit would see an investment of Rs 30 crore (Rs 300 million) and work could start in the next financial year.
Gupta said the company would grow its top line by about 20 per cent in FY15, which could be aided by the new plant at Ludhiana and listing
on the stock exchange.
At present, Bigboss is the biggest brand from the company's kitty with a brand size of over Rs 300 crore (Rs 3 billion).
Force has a brand size of over Rs 100 crore (Rs 1 billion).
Actor Akshay Kumar is the brand ambassador for the company, which has recently come up with a new campaign.
According to Gupta, the exports would get a boost from its latest licensing deal through which the company owns the rights for manufacturing and marketing of Crocodile brand of apparel outside India, primarily in the neighbouring countries.
Crocodile is a Singapore-based apparel maker focussing on the mid-market segment. Dollar Industries’ revenue from exports stood at about Rs 60 crore (Rs 600 million) at the end of FY14.
GOING BIG
- Dollar Industries, which has an annual turnover of Rs 690 crore (Rs 6.9 billion), sells innerwear brands Bigboss and Force
- It is learnt Anand Rathi Financial Services is handling the listing process for the Kolkata-based company
- Dollar’s primary competitors are Lux, Jockey, and Hanes in the Rs 5,000 crore (Rs 50 billion) organised hosiery and knitted products segment
- It plans to set up a new factory at Ludhiana in Punjab. The present capacity is about 400,000 units a day
Hosiery maker Dollar Industries, which sells innerwear brands Bigboss and Force, is planning to get listed on the BSE in the current financial year.