The IPO will be offered at a price band of Rs. 205 to Rs. 216 per share, with a total of 22.68 lakh equity shares available at the upper price band. The issue is a fresh issue of shares, with no existing shareholders selling stock as part of this offer.
Manufacturing News
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A substantial portion of the funds — Rs. 4,423 crore (US $ 488 million) — has been designated for the Atal Bihari Vajpayee Powerloom Bunker Vidyut Flat Rate Yojana, a programme aimed at subsidising electricity costs for handloom and powerloom weavers.
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EBITDA increased by 11% year-on-year to Rs. 109 crore (US $ 12.03 million) from Rs. 96 crore (US $ 10.59 million), but profit after tax declined by 18% to Rs. 37 crore (US $ 4.08 million), compared with Rs. 45 crore (US $ 4.96 million) in Q3 FY '25.
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The funds will be deployed to expand manufacturing capacity and strengthen partnerships with large enterprises as well as small and mid-sized retailers and manufacturers.
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During the quarter, the company strengthened its integrated capabilities and expanded its portfolio of value-added offerings across both existing and newer markets.
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The lower PAT for 9M was primarily attributed to higher other income in the previous year, which included a one-time gain from the sale of shares via an IPO offer-for-sale and fair value gains on shares of Baazar Style Retail Limited.
