VCCircle

To be frank, I hadn't heard of Spentex Industries before Citigroup Venture Capital International acquired a 30 per cent stake in the cotton yarn company sometime last year. Ever since CVCI investment, one thing I have noticed is that the company has been on an acquisition spree. The latest is that it is acquiring 44.14 per cent stake in Kolhapur-based Amit Spinning Industries for Rs 16.6 crore ($3.7 million). Amit Spinning Industries is engaged in manufacturing cotton yarn with a capacity of 30,672 spindles in Kolhapur, Maharastra.

Last month, Spentex had taken control of Indo Rama Textiles by buying 49.03 per cent from the Lohia family at Rs 84.15 per share for a total payment of about Rs 128 crore.

The bottomline is Spentex is on "fire".

Related:

Citigroup Venture Capital-backed Spentex Industries To Acquire Majority Stake In Indo Rama Textiles

Citigroup Venture Capital Invests Rs 81 Crore In Textile Company Spentex Industries