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Chitradurga Spintex (CSL) was incorporated as a private limited company in Dec.'90 and was converted into a public limited company in May '92. It was promoted by S Rajasekharappa, S Vishwanath and S Chandrasekhar. The company set up a plant to manufacture cotton yarn of 4's to 20's count, at Challakere (Chitradurga district), Karnataka, with term-loan assistance from KSIIDC and KSFC. Phase-I of the project commenced commercial production in Feb.'93. In 1995, in the phase-II of the project, the company diversified into low count cotton yarn of 4's and 6's count by importing conversion kits from Flitex Corveny Kosetec, Czech Republic and also expanded the existing capacity of phase-I. The company came out with a public issue of 30 lac equity shares of Rs 10 each for cash at par aggregating Rs 3 cr, in Jan.'95 to part-finance phase-II of its project. The company has replaced new 320 KVA DG set in the place of old 320 KVA DG set to take better advantage. It has also installed chute feeding system to blow room line at a cost of Rs 26 lac to improve quality of finished goods and also the production.