The series of block deals comprised 45.9 lakh shares in aggregate at prices between Rs 90.10 and Rs 92.10 per share. As per unconfirmed reports, promoters have sold their stake to Citigroup.

Only recently (3 November 2006), promoters had sold 10 lakh shares through a block deal, bringing their holding down from 89.48% to 87.56%.

In March 2006, the company proposed to raise up to Rs 144 crore by public issue to finance expansion project to manufacture high-end premier shirtings.

Donear's expansion plan aims to increase production capacity to approximately 17.5 million metres from the present production capacity of 11 million metres, which is produced at Silvassa (Union Territory of Dadra, Nagar Haveli). The project is expected to be operational from December 2006.

Donear Industries has well-known brands in India in its product category of suitings, trouser & shirting fabrics. Donear caters to the premium and the middle segments.