Mudra Lifestyle, a well-known firm in the fashion market has announced that board of directors of the company has given the approval for setting up of yarn project costing Rs. 300 crore preferably in the state of Uttarakhand or Himachal Pradesh.
An official release from the company stated, “The project is proposed to be funded by contribution from Promoters by way of Warrants amounting to Rs. 36 crore, issuance of foreign currency convertible bond or overseas equity up to Rs. 200 crore and the balance by way bank loans.”