The company’s public issue will hit the capital markets on June 30 and conclude on July 2. The shares will be listed on the NSE’s SME platform Emerge, the company said in a statement.
At the upper-end of the price band, the company is going to fetch around ₹60.90 crore from the issue.
The initial public offering (IPO) is entirely a fresh issue of up to 43.50 lakh equity shares, according to the red herring prospectus (RHP).
Proceeds from the fresh issue to the tune of ₹8 crore will be used for the installation of grid-tied solar PV rooftop system for captive evacuation, ₹17 crore for the modernisation of the machines, and ₹24.9 crore to meet working capital requirements.
The remaining capital will be used for general corporate purposes and issue expenses, as per the RHP.
The Bengaluru-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.
For the nine-month period ended December 31, 2024, Cedaar Textile posted a revenue of ₹113.91 crore and profit after tax of ₹7.06 crore.
Fast Track Finsec is the sole book running lead manager, and Skyline Financial Services is the registrar for the IPO.
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