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Mudra Lifestyle to take the IPO route

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Mudra Lifestyle Ltd has planned to come out with its initial public offer (IPO) to raise funds for its future expansion plans.

The company has laid out a plan to invest around Rs 177.4 crore for expansion. It is expected to raise over Rs 77 crore from the IPO. Sources have confirmed that the company will expand its manufacturing facilities and set up an integrated unit with yarn dyeing, weaving, process house and garment manufacturing near Bangalore and Tarapur.

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