SEL Manufacturing Company has informed that SEL Textiles Ltd., a subsidiary of the company proposes a Public Issue of equity shares through 100% book building method in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and has filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India.

SEL Textiles proposes to finance the cost of setting up a new facility for manufacturing of Terry Towels with an installed capacity of 3600 TPA out of the net proceeds of the issue.