SEL Manufacturing (SEL) has planned to set up a new facility near Bhopal, Madhya Pradesh, with the total outlay of Rs800 crore. The proposed plant would have installed capacity of 1,95,840 spindles. With the setting up of the plant, the total installed capacity of SEL would reach 4 lakh spindles. It would help the company to be self-dependent in the terms of yarn for its ever-growing demand of knitted garments and terry towel. The company plans to raise $50 million (Rs226 crore) through global depository receipts (GDR). In the first phase of GDR, the company has already raised $10 million and is in the process of coming out with the second phase of GDR, which would be completed in around next 10 days.
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