Shri Techtex Limited will be offering equity shares through a book built issue as part of their upcoming Initial Public Offering (IPO). The IPO is scheduled to take place from July 26 to July 28, 2023. The issue price for each share is set in the range of ₹54 to ₹61. Interested investors can place a minimum order quantity of 2000 shares.
With a face value of Rs. 10, the IPO will include the sale of 7,400,000 shares. This offering has the potential to generate up to ₹45.14 crore in funds for Shri Techtex Limited. Let’s learn more about their initial public offering scheduled for July of 2023.
About Shri Techtex Limited
Founded in 2011, Shri Techtex Limited is a leading manufacturer of Polypropylene (PP) Non-Woven Fabric, catering to ecological applications in various industries such as organic farming, healthcare, home furnishing, and more.
Initially a Partnership firm, Shri Techtex transitioned into a company and currently focuses on manufacturing PP Non-Woven Fabric. Their manufacturing site in Gujarat has a capacity of 3600 MT per annum, serving clients not only in India but also across countries like the USA, Taiwan, and Denmark.
The company has ambitious expansion plans, aiming to introduce new products like PP Tufted Fabric (Artificial Grass) and PP Multifilament Yarns. Specialized machinery will be procured to facilitate production, with expected commencement by October 2023. This move will significantly increase their manufacturing capabilities, with the new machinery set to produce 1200 tons per annum for PP Multifilament and 30 Lakhs Sq Meters per annum for PP Tufted Fabric.
Shri Techtex IPO Issue Details
| Issue Type | Book Built IPO Issue |
| Issue Opens | 26th July 2023 |
| Issue Closes | 28th July 2023 |
| Face Value | Rs 10 Per Share |
| Issue Price | Rs 54 to Rs 61 Per Share |
| Issue Size | 7,400,000 Shares (Rs 45.14 crores) |
| Minimum Order Quantity | 2000 Shares |
| Listing | NSE, SME |
Purpose of the Issue
The net proceeds from the issue will be utilized for the following purposes:
- Construction of Factory Shed.
- Commissioning of a Solar Plant.
- Purchase of Machineries.
- Meeting working capital requirements.
- General corporate purposes.
- Meeting public issue expenses.
By allocating the funds strategically, the company aims to enhance its infrastructure, expand renewable energy initiatives, procure essential machinery, and ensure smooth operations for its business growth.
Shri Techtex Limited — Company Contact Details
- Registered & Corporate Office: Harmony, 2nd Floor,15/A, Shree Vidhyanagar Co.Op. Hsg. Soc. Ltd. Opp. Nabard, Nr. Usmanpura Garden Ahmedabad – 380014
- Telephone: +91 78741 32777
- Website: https://shritechtex.com/
Shri Techtex IPO – Lead Managers of the Issue
Beeline Capital Advisors Pvt Ltd
- Office Address: 807, Phoenix Tower, Opp. Girish Cold Drinks, Near Vijay Cross Road, Ahmedabad – 380009
- Telephone: 079 4840 7357
- Email: mb@beelinemb.com
Shri Techtex IPO – Registrar of the Issue
Link Intime India Private Ltd
- Telephone: +91-22-4918 6270
- Email: shritechtex.ipo@linkintime.co.in
- Website: https://linkintime.co.in/mipo/ipoallotment.html
Shri Techtex Limited IPO Issue Prospectus
Click here to read the Final Prospectus of this IPO Issue.
Disclaimer: Investingly just provides basic information as update about the issues. Investingly never gives advices or recommendations to anyone. Investments into securities are subject to market risk. Please read the offer and issue documents carefully before investing. It is also advised to consult your financial advisor for necessary suggestions.
