In keeping with the current market trend, another IPO will be hitting the Indian market soon. With an investment plan of over Rs 70 crore in the next one year, Bhawani Textiles Ltd (BTL), a leading hosiery manufacturer, will shortly enter the capital market with an IPO of Rs 30 crore. This will be channeled to strengthen its Dollar brand products. The procurement of finances for the expansion plan will be through in-house acquisitions, private finances and the IPO will be used to set up its own knitting, spinning, processing and stitching units for backward integration uses. BTL is the promoter of Dollar brand, which includes various undergarment categories like vest briefs, thermal wear, casual wear, socks and sports wear. Dollar was conferred with the National Award for Excellence in Apparel and chosen as ''The Brand of the Year'' in men's innerwear category by Clothing Manufacturers Association of India (CMAI) on December 9, 2005 in
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| Mumbai. Talking to mediapersons at a recent press conference, Vinod Gupta, MD, BTL, said ''Bhawani Textiles has seen remarkable growth since the time the company roped in actor Salman Khan for brand endorsement in March 2005.'' Gupta said that formalities for entering the capital market were at the final stage and would soon hit the market. Giving details of development and financial achievement of the company, Gupta said BTL achieved a turnover of Rs 125 crore in 2004-05 and hoped to clock a turnover of Rs 225 crore in the current financial year registering a growth of 80 per cent. ''The company has set a target to achieve turnover of Rs 400 during for the year 2006-07,'' Gupta added. Presently, BTL has production capacity of 2.5 lakh units per day and commands a 14 per cent market share in India, he said. Presently, the company has two manufacturing state-of-the-art facilities based in Kolkata and Tirupur. The company has prominent presence in Oman and other Gulf countries and Latin America as well. 
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