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22-Apr-2024 12:15 Hrs IST |
Sanathan Textiles files Rs 800 crore IPO papers with SEBI
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<p style="text-align: justify;">Sanathan Textiles has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise as much as Rs 800 crore through an initial public offering (IPO). The IPO is a combination of a fresh issue of equity shares aggregating up to Rs 500 crore and an Offer For Sale (OFS) of up to Rs 300 crore by promoters and promoter group entities.</p><p style="text-align: justify;">Proceeds from the fresh issue of shares worth Rs 210 crore will be used for investment in the company's subsidiary -- Sanathan Polycot Private Limited -- for funding its long-term working capital requirements, Rs 175 crore for repayment of debt and besides general corporate purposes. Dam Capital Advisors and ICICI Securities are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.</p><p style="text-align: justify;">Sanathan Textiles operates three distinct yarn business divisions - polyester yarns, cotton yarns, and yarns - for technical textiles and industrial applications. These divisions are currently managed under a single corporate entity.</p><div style="text-align: justify;"><br></div>
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02-Apr-2024 16:02 Hrs IST |
Patel Retail files IPO papers with SEBI
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<p style="text-align: justify;">Supermarket chain Patel Retail has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO is a mix of a fresh issue of 90.18 lakh shares and an offer for sale (OFS) of up to 10.02 lakh shares of promoters. </p><p style="text-align: justify;">Proceeds from the fresh issuance to the tune of Rs 60 crore will be used for payment of debt Rs 115 crore for funding of working capital requirements of the company, besides a portion will be used for general corporate purposes. Fedex Securities is the sole book-running lead manager to the issue. </p><p style="text-align: justify;">Patel Retail was established in 2008, launching its inaugural store in Ambernath, Maharashtra. Since then, it has expanded its operations throughout the suburban regions of Thane and the Raigad district in Maharashtra. The company provides a diverse range of products including food, non-food items (FMCG), general merchandise, and apparel to meet the needs of families. It operates in tier-III cities and nearby suburban areas under the brand 'Patel's R Mart'. </p><div style="text-align: justify;"><br></div>
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02-Apr-2024 12:26 Hrs IST |
Crizac files Rs 1,000 crore IPO papers with SEBI
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28-Mar-2024 11:56 Hrs IST |
P N Gadgil Jewellers files Rs 1,100 crore IPO papers with SEBI
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05-Mar-2024 15:09 Hrs IST |
Go Digit General Insurance gets Sebi's nod to float IPO
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05-Mar-2024 15:01 Hrs IST |
Ceigall India files DRHP with SEBI
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26-Feb-2024 14:19 Hrs IST |
Orient Technologies files DRHP with SEBI
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14-Feb-2024 14:29 Hrs IST |
Gold Plus Glass Industry files IPO papers with SEBI
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14-Feb-2024 12:38 Hrs IST |
Akums Drugs and Pharmaceuticals files DRHP with SEBI
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06-Feb-2024 14:42 Hrs IST |
Indo Farm Equipment gets SEBI's nod for IPO
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