Dollar will migrate to BSE to comply with Sebi norms

Dollar Industries, listed on the non-functional Calcutta and Jaipur stock

exchanges, will migrate to the BSE platform. This will be done before the end of this financial year to comply with Sebi norms.

The makers of the innerwear brands Dollar Club and Force will also consider floating a share issue soon after to raise funds, required to develop a fully-integrated thermal innerwear unit in Ludhiana as well as other expansion projects. The company announced Rs 688 crores turnover in the last financial year and aims to achieve a target of Rs 850 crores turnover this financial year.

The company recently also unveiled a denim trouser range under the Force brand and plans to venture into providing an entire range of outer wear line from the Force stable. The company has invested around Rs 185 crores in phases to establish a fully integrated manufacturing facility at Tirupur in Tamil Nadu with four windmills. It has also bought a state-of-the-art plant and machinery from Sclavos, Switzerland.

Dollar Industries, today ranks amongst the top three hosiery brands in India. The company has four manufacturing units spread across Kolkata, Tirupur, Delhi and Ludhiana. Dollar Industries enjoys a 15 percent market share in the branded hosiery segment in India. It recently commenced business in African market with Nigeria to reserve more export revenue. The company’s existing export markets are in Middle East and South East Asian countries.