Esquire Knit Composite Ltd, a business unit of Esquire Group, plans to invest Tk 576.63 crore to set up a green factory at Bhaluka in Mymensingh.

The company will raise Tk 150 crore from the capital market through the book building method, said Kamal Munasinghe, CEO of the company.

Of the amount, Esquire Knit will use Tk 100.42 crore for building construction and the rest for buying machinery, he said at a press briefing held on the premises of the company's factory at Kanchpur in Narayanganj yesterday.

Moreover, the company will take a loan of Tk 346 crore from International Finance Corporation and the directors of Esquire Knit will provide Tk 86 crore, he said.

Currently, the company's paid-up capital is Tk 100 crore, which will increase to Tk 150 crore after the collection of the IPO proceeds.

The earnings per share of the company were Tk 3.20 at the end of December 2016 and net asset value Tk 46.

The knitting unit of the company has a capacity of producing 20 tonnes of knit fabrics a month.