Cedaar Textile Limited, a manufacturer of a wide range of organic yarn products, announced that its initial public offering (IPO) will open for subscription on Monday, June 30, 2025. The anchor portion will be opened on Friday, June 27, 2025, and the issue will conclude on Wednesday, July 02, 2025. The company intends to raise Rs. 60.90 crore from the offering and aims to be listed on the NSE Emerge platform.
The price band for the issue has been fixed at Rs. 130-140 per share, and the lot size will be 1,000 equity shares. Fast Track Finsec Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar to the offer.
The IPO will comprise a fresh issue of 43.5 Lakh Equity Shares with a face value of Rs. 10/- through the book-building route. As many as 7,82,000 equity shares have been reserved for the Anchor investors, 2,18,000 equity shares for the market maker, 5,22,000 equity shares allocated for the net QIB portion, 13,28,000 equity shares for NIIs, and the Retail (RII) portion accounts for not less than 15,00,000 equity shares.
According to RHP, Cedaar Textile intends to utilise Rs. 8 crore of the total IPO proceeds for the installation of Grid-tied Solar PV Rooftop System for Captive evacuation, Rs. 17 crore for the modernization of the machines, and Rs. 24.9 crore to meet working capital requirements. The remaining capital will be used for general corporate purposes and issue expenses.
The Bangalore-headquartered company manufactures and sells products like Yarn, Technical Textile IFR, Fabrics, and Dyed Yarn. It is specialised in the manufacturing of Quality Melange Yarn for use in the household textile, woven goods, and hosiery. It operates a manufacturing unit in Akbarpur Channa, Near Ludhiana, Punjab, that features a variety of machines, including Blow Room and Carding equipment from Truszler/LMW, Draw Frame and Speed Frame from LMW, Ring Frames from LMW, Twister TFO, Autoconer, and Fiber/Yarn Dyeing machines.
Cedaar Textile offers a wide range of Raw White Yarns, Melange Yarns, Solid Top dyed Yarns, and Grey Fancy Yarns in Cotton, Polyester, Acrylic, Viscose, Tencel, Modal, and other Fibers. All Yarns are offered with sustainability as the prime focus, in 100% Organic, Recycle Fibers (Polyester & Cotton) for a Green Environment and Conservation of natural resources.
The company is promoted by the first-generation entrepreneurs Mr. Rajesh Mittal, Mr. Virendar Goyal, Mr. Bachangada Nachappa Monnappa and Mrs. Bachangada Monnappa Saraswati. With a combined experience of 116 years in the textile industry, they have been instrumental in the growth strategy of the company.
Cedaar Textile has registered Rs. 112 crore of revenue from operations with a profit (PAT) of Rs. 7.06 crore in the first nine months of the financial year 2024-25, ended December 31, 2024, compared to Rs. 189.68 crore of revenue from operations and a profit (PAT) of Rs. 11.05 crore in the fiscal year 2024.
