Sanathan Textiles recordsdata draft papers with Sebi for Rs 1300 cr IPO, Retail Information, ET Retail


Sanathan Textiles files draft papers with Sebi for Rs 1300 cr IPONEW DELHI: Mumbai-based Sanathan Textiles, filed its draft crimson herring prospectus (DRHP) with the market regulator Sebi to boost funds by way of an Preliminary Public Providing (IPO). The problem dimension shall be within the vary of Rs 1,200-1,300 crore.

The yarn producer plans to boost Rs 500 crore through contemporary problem of fairness shares and there shall be a proposal on the market of as much as 11,400,000 fairness shares by the promoters. Moreover, the corporate might think about a pre-IPO placement of fairness shares aggregating as much as Rs 100 crore.

Proceeds from the contemporary issuance of shares shall be used to the extent of Rs 325 crore to repay/prepay in full or half, of sure borrowings availed by the corporate, Rs 65 crore for funding working capital necessities moreover basic company functions.

The corporate’s enterprise is split into three separate yarn enterprise verticals, consisting of polyester yarn merchandise; cotton yarn merchandise; and yarns for technical textiles and industrial makes use of, manufactured at its Silvassa facility.

The corporate stated its clients embody Arvind, Trident, Welspun India, Web page Industries, D’décor Residence Materials, Artistic Group, Ascent Yarns and Paragon.

Sanathan Textiles recorded a revenue of Rs 185.63 crore on income of Rs 1,918.36 crore for FY21, which noticed the impression of lockdown throughout April-June 2020, and clocked a revenue of Rs 170.78 crore on income of Rs 1,438.88 crore for the six months ended September 2021. The corporate had a return on fairness (RoE) of 29.42 per cent for FY21.

Edelweiss Monetary Companies and JM Monetary are the e-book operating lead managers to the problem.





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