Mudra to sell stake to E-Land

South Korean lifestyle conglomerate E-Land Group may pick up a majority stake in Mudra Lifestyle,

an integrated textile company. The promoters of Mudra Lifestyle, the Agarwal family, currently hold a 54.4 per cent stake. The Rs 365 crores Mudra Lifestyle is into fabrics and garment-making. It also processes and designs apparels. Besides, E-Land is South Korea’s largest integrated textile and branded apparel company.

Meanwhile if the deal materializes, South Korea’s largest integrated textile and branded apparel company, which has a strong presence in China, will get a foothold in the low-cost, high-quality textiles market in India. While Mudra Lifestyle will get the benefit of huge institutional orders that E-Land services enjoys.

In the industry since 1986, Mudra has facilities for fabrics and garment manufacturing, processing, design development and sampling. It manufactures fabrics and garments for the domestic and export market. It is moving into designer shirts and women’s wear. Mudra caters to well-known names in the fashion industry with its ability to offer collections set to seasonal fashion trends, colors, patterns and international designs.  It has garment manufacturing plants in Bangalore and Daman.