• Total Issue Size: It provides a fresh issue size of 88,99,200 equity shares aggregating up to Rs. 8,365.25 Lakhs of Rs 10 face value. 

• Fresh Issue Size: The fresh issue size is 61,99,200 equity shares accumulating up to Rs. 5,827.25 Lakhs 
• Offer for sale: It provides a offer for sale of 27,00,000 equity shares  totaling up to Rs. 2,538 Lakhs 
• Price Range:The price for each equity share is set at Rs. 94 per share.
• Issue Type: The IPO Fixed price issue type.
• Subscription date: The issue period begins from February 5th 2025 and ends on February 7th 2025.
• Lot size: It is providing a lot size of 1200 
• Listing Date: The IPO is going to be listed on 12th February 2025.
• Stock Exchange: The exchange is going to be the Emerge platform of NSE.

The company with the help of this IPO seeks to utilize the net proceeds towards meeting capital for various acquisitions in India and abroad, purchasing new machinery and renovation of manufacturing facilities and  implement strategic and corporate developments.

The table below (in lakhs) stipulates the restated Financial Information of the company over the last 3 fiscal years and up-till November 30, 2024.

The textile industry is one of the most prominent sector of the Indian economy tracing its rich heritage back to the historic times. It ranges from a diverse range of products across different states and cultures.

The textile market is one of the oldest market in the country and contributes 4% to textile and apparel trade globally. This industry has evolved from hand-spun and hand-woven textiles to modern advanced manufacturing technologies and contributes 2% towards the Indian GDP and 7% of industrial output in value terms.

Over the recent years, the Indian market has seen a substantial shift towards synthetic textiles and this market of 4 million tonnes is projected to rise to 6.7 million tonnes by 2025.

The Indian textile and apparel market size contributed approximately USD 165 billion in 2023 in both domestic market and exports.

India also considerably contributes in exports across many countries like UAE, Bangladesh, UK, USA and European countries and is projected to grow to USD 65 billion by FY 2026.

The central government has taken many initiatives such as Technology Upgradation Fund Scheme (TUFS), export promotion policies etc and has recently, in the budget of 2025 allocated Rs. 5272 crores to the Ministry of Textiles.

• The company is in the textile industry for the last 25 years and has acclaimed recognition domestically as well as internationally catering many big companies in the textile, apparel and clothing markets.

• The company implements robust technology, in-house production development expertise, diverse design portfolios etc,  and its two production facility located in Maharashtra  has the capacity to manufacture 145 lakh square meters per annum.
• The company has shown robust financial performance over the last three fiscal years with its profit after tax increasing from Rs. 236.46 lakh in 2022 to Rs. 952.63 lakhs as of 30th November, 2024.
• The company has established strong client relationships domestically as well as globally. Some of the notable clients the company offers its services to are ZARA, Primark and Target.
• The company aims to expand its global reach and cater to big multinational brands across the world by blending organic innovation with quality and excellence.

• The company relies heavily on raw materials supplied form third party suppliers at a considerable agreed price, failure to retain these agreements with suppliers or meet the competitive reasonable prices of the raw materials could adversely affect the profit margin and the business operations.

• The business can be vulnerable if there are changes in the preferences of the customers with respect to greige fabrics, its pricing, competition and demand in the market etc.
• The business operation majorly depends on the labour of the employees, and labour unrest or strikes, shortage of skilled/unskilled personnel  may adversely affect the business operations.
• The company’s operations are largely dependent on third party manufacturers. The company currently has only two manufacturing units in Ichalkaranji, Maharashtra. This area is filled with many readily available greige fabrics manufacturing units which the company is largely dependent on for manufacturing of its products. Failure of these supplies on time, or any disruption in this area, politically, economically or socially may affect business operations and financial conditions.
• The company’s promoters and directors are facing legal proceedings, any adverse outcome of these pending litigations may affect the business, resulting to loss of operations affecting financial conditions.

The textile industry has a long rooted history in Indian culture and heritage with diverse range of products. This sector is one of the oldest market in the country and also contributes considerably to the global economy. The company has catered to many big clothing brands and has shown healthy financial growth over the last three fiscal years increasing its profits after tax from Rs.236.46 lakhs in 2022 to Rs.952.63 lakhs as of November 30,2024.

The company aims to make a global presence in this Industry in the coming years with its in-house products and designs. Prospective investors should also outline the risks given in the RHP prospectus before investing.

The company with the help of this Initial Public Offering (IPO) aims to raise capital to upgrade its manufacturing units with new machinery,  meet working capital and implement business developments.

The company has shown positive financial growth since inception and has built relationship with many big global companies.

The central government  in its 2025 union budget has also allotted Rs. 5272 crores to the ministry of textile along with many government initiatives to expand it further, but the company also faces certain risks due to the vulnerability of the market and prospective investors should carefully consider the company’s risk as outlined in the RHP draft prospectus before proceeding to invest.