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06 January 2022, Mumbai:
Textile enterprises continue to expand despite several hurdles! Sanathan Textiles is another company that is planning to go public (Initial Public Offering). The Mumbai-based firm, which makes cotton yarns, polyester yarns, and technical textile yarns, is looking to fund between Rs. 1,200 crore and Rs. 1,300 crore.
The corporation, on the other hand, has yet to make an official remark on the subject. According to media sources, the IPO would include both a new issue and a sale of existing shares.
The business is set to file a draught red herring prospectus with the Securities and Exchange Board of India (Sebi) this week. Sanathan Textiles increased its margin to 17.8% in the first half of the 2022 financial year, according to India Ratings and Research, a market research firm.
The firm also offers a 'Revir' brand of recycled textile products and a 'Born Dyed' line of eco-friendly colour polyester yarns, as well as custom-made functional and personalised yarns.
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