Ananta Apparels Limited

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Founded in 1992, Ananta Apparels Limited (“AAL” or the “Company”) is one of the leading apparel exporters of Bangladesh (top 10 position among woven product manufacturers). The Company specializes in denim products with monthly production capacity of 1.8 million woven bottoms across three factories comprising 850,000 square feet and employing about 13,000 workers. AAL recently re-structured into a group holding company with five manufacturing subsidiaries: Ananta Casualwear Limited (99% shareholding), Ananta Denim Technology Limited (99%), Ananta Fashion Limited (99%), DNV Clothing Limited (75%), and Universal Menswear Limited (51%; a joint-venture company with Romanian suit manufacturer Time Trade International). Major customers include top retail brands such as H&M, GAP and Bestseller Group. AAL has undertaken an expansion plan to be developed in two phases: Phase I, costing approximately US$24.4 million, will primarily involve the relocation of its existing casual woven bottoms factory to a new custom built facility in Kanchpur, south of Dhaka thereby replacing its original factory in downtown Dhaka (the “Project”). The Project is brownfield in nature. The second phase (Phase II), which would involve further capacity expansion, will be undertaken at a future date once Phase I is fully implemented and operational.