Nandan Terry files DRHP for Rs 255-crore IPO

Ahmedabad-based Nandan Terry has filed the DRHP with Sebi to launch its initial public offering. The company plans to raise Rs 254.96 crore through its IPO.

Pre-IPO fund Raising
The Chiripal Group company is going to consider fund raising of Rs 40 crore in a pre-IPO placement, prior to filing of the RHP with the Registrar of Companies. If the said pre-IPO placement is undertaken, then the issue size will be reduced to the extent of such pre-IPO placement,” as mentioned in the DRHP.

The issue proceeds will be utilised for repaying debt, working capital requirements and general corporate proposes.

About the Company:

Nandan Terry is a fully vertically integrated company engaged in principle business of manufacturing terry towels & toweling products. It enjoys presence in industries such as textiles, education, real estate, packaging and chemicals and offers a wide spectrum of manufacturing, contract manufacturing, trading, distribution and service-related activities to sectors like textiles, education, packaging, infrastructure, petrochemical besides others

Profit making Company

Nandan Terry earned a profit of Rs 23.37 crore in the year 2020-21 against Rs 1.22 crore in the previous year. Revenue during the year 2020-21 increased significantly to Rs 538.52 crore from Rs 429.38 crore in the previous year.