Nitin Spinners, a 100 % Export Oriented Unit (EOU), is planning expansion by investing 150 crore and to part-finance it the company is entering in the capital market with its IPO of Rs. 49 crore through the book-building process scheduled to open on 6th January. The Bhilwara-based company, which is engaged in the manufacture of combed and carded cotton yarns, will be enhancing its capacity by adding 50,400 spindles for cotton yarn production and 12 knitting machines for knitted fabrics production. Besides, the company will also be installing an 8.18 MW power plant. The company's yarns are suitable for applications such as apparels, undergarments, terry-towels, denims,
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| medical fabrics, furnishing fabrics and industrial fabrics. The company is also a major exporter. It exports products to markets such as the USA, Australia, South America and Europe besides many countries in Asia itself. The company's financial performance in the last two years has been healthy with its total income rising from Rs 60.5 crore in fiscal year 03 to Rs 81.74 crore in fiscal year 05. The company's IPO, whose price band has been fixed at Rs 18 to Rs 21 per equity share of Rs 10 each, closes on 12th January. Out of the total issue size of Rs 49 crore, Rs 9 crore is the promoters’ contribution, while reservation for permanent employees of the company stands at Rs 2.5 crore. The net issue to the public is Rs 37.50 crore. 
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