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Kaytex Fabrics fixes IPO price band at Rs 171-180 per share; issue to open on July 29

by TheAdviserMagazine
2 months ago
in Business
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Kaytex Fabrics fixes IPO price band at Rs 171-180 per share; issue to open on July 29
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Kaytex Fabrics, a digital textile printing company, on Wednesday said it has fixed the price band at Rs 171-180 per equity share for a nearly Rs 70 crore initial public offering (IPO) which will hit the capital market on July 29.

The SME IPO will open on July 29 and conclude on July 31. The company’s shares will be listed on the NSE’s Emerge platform, Kaytex Fabrics said in a statement.

The public issue is a mix of fresh issue of 31.99 lakh equity shares aggregating to Rs 57.59 crore and an offer for sale of up to 6.79 lakh shares amounting to Rs 12.23 crore by the promoters Sanjeev Kandhari and Amit Kandhari.

Post-IPO, promoters will hold 73.61 per cent of the equity stake, while the public will hold 26.39 per cent.

Proceeds from the fresh issue worth Rs 2.56 crore will be utilised towards funding capital expenditure for construction of additional warehouse facility in Amritsar, Rs 3.73 crore will be used for construction of a dedicated sales office in Amritsar.

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Funds worth Rs 5.01 crore will be directed towards purchase of advanced fabric processing system for the existing printing, dyeing and processing unit in Amritsar and Rs 30 crore will be used to meet working capital requirements.The remaining proceeds will be used for general corporate purposes and issue expenses.Incorporated in January 1996, Kaytex Fabrics is a fast-fashion manufacturer that combines technology, creative design, and craftsmanship to deliver high-quality textiles.

The company specialises in fabrics from diverse fibres like cotton, viscose, and polyester. It offers quality fabrics, ready-to-stitch womenswear, and modern, trendy designs. The company sells its products under the brand names “Rasiya”, “Kaytex”, and “Darbaar-e-Khaas”.

For FY25, the Punjab-based company posted revenue of Rs 152.79 crore and profit after tax of Rs 16.90 crore. Socradamus Capital Pvt Ltd is the sole book-running lead manager of the offer. PTI



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