Lux Industries gets listed on BSE

Kolkata-based innerwear maker, Lux Industries has debuted on the Bombay Stock Exchange (BSE). The stock had opened at Rs 3,660. The company had made its debut on the National Stock Exchange (NSE) last year. Listing the company on the premier stock exchange will help it to enhance visibility for the company’s equity shares as well as provide liquidity for existing and prospective investors.

Lux is one of the fastest growing innerwear companies in India with a CAGR of 22 per cent over a period of five years leading to 2014-15 when compared to the textile industry’s single digit percentage growth. The company now plans to set up a state-of-the-art integrated hosiery unit near Serampur in West Bengal. This facility is expected to include knitting and cutting units, finally producing innerwear garments, end-to-end production and warehousing facilities. The company also plans to include nearly 50,000 retailers in the next five years, with hopes to drive growth of their premium brands both nationally and internationally. Lux’s manufacturing capacity stands at 10 lakh garments per day across more than 11-pan India manufacturing facilities. Lux makes vests, T-shirts, briefs, boxer, spaghettis, thermals and so on.

For Ashok Todi, Chairman, Lux Industries, listing on the premier stock exchange is a ‘significant milestone especially at a time when the company is in its diamond jubilee year after six decades of experience’.