Nandan Terry, part of the Chiripal group, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up Rs 255 crore through an initial public offering (IPO).
The proceeds of the public issue will be used for payment of debt, for funding working capital requirements and general corporate proposes. Holani Consultants and BOI Merchant Bankers are the book running lead managers for the issue.
Nandan Terry is a fully vertically integrated company engaged in principle business of manufacturing terry towels and toweling products. Apart from manufacturing terry towels and toweling products, the company also sells the cotton yarn manufactured at its units to achieve better sales realisations.
Company Name | CMP |
---|---|
Trident | 37.30 |
Filatex India | 54.45 |
Sutlej Textiles&Inds | 53.60 |
Nahar Spinning Mills | 263.75 |
Nitin Spinners | 332.70 |
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