Nandan Terry (CHIRIPAL GROUP) files Rs 255 cr Initial Public Offering (IPO) papers with Sebi

13 December 2021, Mumbai:

Nandan Terry, part of the Chiripal group, has filed preliminary documents with markets regulator Sebi to raise Rs 255 crore through an initial public offering (IPO).

The proceeds of the public issue will be used for payment of debt, for funding working capital requirements and general corporate proposals, according to the draft red herring prospectus (DRHP).

The company may consider raising Rs 40 crore through a pre-IPO placement. If pre-IPO round is undertaken, the issue size will be reduced

Incorporated in 2015, Ahmedabad-based Nandan Terry is a fully vertically integrated company engaged in the principle business of manufacturing terry towels and toweling products.

ET (The news article has not been edited by DFU Publications staff)