ASHNOOR TEXTILE MILLS LTD.

Established in January 1984, Ashnoor Textile Mills Ltd (formerly known as Gupta Carpets Udyog Ltd) was founded by Mr. Suneel Gupta. The company operates production facilities across multiple locations including Amritsar, Agra, Mirzapur, Jaipur, Panipat, and Srinagar, with an additional plant situated in Gurgaon. Specializing in the manufacturing and export of Terry Towels to the US market, the company boasts an annual production capacity exceeding 5400 tons of premium-quality towels. Offering a comprehensive range of towel products tailored to the hospitality sector, Ashnoor Textile Mills Ltd has emerged as a prominent supplier to medium and large hotel chains since its inception in the early 1990s. Renowned for its expertise in producing white, colored, pool, and kitchen towels, the company went public in 1986, issuing equity capital totaling Rs 88 lac. Subsequent to this, a rights issue was launched in 1989 at a premium of Rs 4 per share in the ratio of 1:2. In March 1992, another rights issue was initiated as part of the company's expansion strategy. Furthermore, in July 1993, Ashnoor Textile Mills Ltd introduced a rights issue of 35.85 lac equity shares at a premium of Rs 35, aggregating Rs 16.13 cr, aimed at establishing a new industrial unit (100% EOU) specializing in the production of terry towels, toweling materials, made-ups, bath robes, jerseys, etc. Subsequently, the company diversified its operations into cotton spinning and weaving of fabrics, as well as the manufacturing of bathroom mats, by setting up a composite plant in Punjab, a key cotton-growing region, with a spinning capacity of 1800 tpa and fabric weaving capacity of 15 lac sq mtr pa.