Nandan Terry IPO: Chiripal Group’s company Nandan Terry is going to bring its IPO. The company has filed a draft paper with SEBI for this. The company wants to raise Rs 255 crore through this IPO. According to the Red Herring Prospectus (DRHP), the proceeds from the IPO will be used for debt repayment, working capital requirements and for general corporate purposes. The company may consider raising Rs 40 crore through pre-IPO placement. If such placement is completed, the issue size will be reduced.
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Know about the company
- Nandan TERI based in Ahmedabad is a fully integrated company. This company works in the manufacture of terry towels and toweling products. It was established in the year 2015.
- Apart from manufacturing terry towels and toweling products, the company also sells cotton yarn manufactured at its units for better sales.
- The company’s revenue from operations in the financial year 2021 was Rs 538.52 crore, which is 25.42 percent more than Rs 429.39 crore in the financial year 2020. This increase is mainly due to increase in the sales of cotton yarn, towels and towel products.
- Its profit stood at Rs 23.38 crore in FY 2021, as against Rs 1.22 crore in the previous financial year.
- Holani Consultants and BOI Merchant Bankers are the book running lead managers of the issue.
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