Pasupati Spinning & Weaving Mills (PSWML), promoted by Ramesh Kumar Jain in 1979, manufactures Synthetic Blended Yarn/Cotton Yarn and Polyster Viscose with installed capacities of 26000 spindles and 25000 spindles respectively. The cotton yarn unit is a 100% EOU which commenced commercial production in Mar.'93 which was part-financed by a rights issue of PCDs in Oct.'91. PSWML offered PCDs on rights basis in Oct.'93 to install an additional 12480 spindles to manufacture synthetic blended yarn. This increased the total capacity to 39480 spindles. Commercial production started in Apr.'95 and the cost was Rs 25.11 cr. This project has undergone a sea change due to certain infrastructural problems. In 1995-96, it increased the installed capacity of synthetic blended yarn by adding 1920 spindles, with a capital outlay of Rs 14 cr. It has diversified into manufacture 100% polyester sewing thread for which it has installed a new unit at Kheri, Himachal Pradesh, with 13440 spindles at a capital outlay of about Rs 29 cr. Project was part financed by a rights issue. The company also increased the installed capacity of cotton yarn by 16128 spindles. In 2000 the company plans to the installed capacity of 100% EOU for Cotton Yarn to 30000 spindles with a capital outlay of Rs 40 crores. But due to the economic situation the operations of Haryana unit got jeopardised so the company could not proceed further in expansion.