Century Textiles and Industries Ltd has filed a case against e-commerce marketplace Snapdeal, its founders Rohit Bansal and Kunal Bahl, and KK Modi Group company Modicare Ltd in the Bombay High Court for trademark infringement of one of its products.
Yoga guru Baba Ramdev-endorsed Patanjali Ayurved Ltd's plans to enter into the apparel business by making indigenous 'khaadi' clothes has attracted the interest of textile industry's Raymond Group and Ahmedabad-based textile manufacturer Arvind, according to a report.
Indian denim fabric maker Nandan Denim Ltd said on Wednesday it aims to raise Rs 100 crore ($15 million) through an issue of warrants to foreign investors to fund its expansion.
Innerwear maker Dixcy Textiles Pvt. Ltd is looking to raise nearly Rs 300 crore ($44.8 million) as growth capital from private equity investors, according to a media report.
Even as top global fashion brands such as Zara, Mango, Vero Moda, H&M, Forever 21 and Marks & Spencer vie for a share of the Indian market, the country’s textile sector continues to reel under the burden of mill closures and sagging exports.
Private equity giant Blackstone has sold just under 10% stake in garment exporter Gokaldas Exports Ltd or one-sixth of its total holding in the firm as it looks to gradually liquidate one of its loss-making investments in India.
It had agreed to sell a factory to Raymond in April last year.
Post conversion, Polus Global will own 5.48 per cent stake in Nandan.
It will now negotiate with other potential buyers.
S Kumars now trades as a penny stock.
