Take it! Another company to launch IPO, file preliminary documents with SEBI – India TV Hindi

    1.4 crore new shares will be issued in the company's IPO.  - India TV Money

Image: File 1.4 crore new shares will be issued in the company’s IPO.

If you have been waiting for IPO earnings, another opportunity is coming your way in the coming days. In fact, textile company Raghvir Exim Limited is preparing to raise funds through an initial public offer (IPO). The company has filed preliminary documents for the IPO with market regulator SEBI. Funds raised from the IPO will be used to finance expansion projects, the draft documents said.

More than 30 companies filed documents this year.

According to the news, more than 30 companies have filed IPO documents with the Securities and Exchange Board of India (SEBI) so far this year. According to the documents, 1.4 crore new shares will be issued in the company’s IPO. According to the draft red herring prospectus (DRHP) filed on March 31, promoter Sunil Agarwal will make an offer for sale (OFS) of 45 lakh equity shares. Presently the promoters share in the company is 100%.

Plan to set up two sewing units

According to reports, Raghuveer Exim Ltd plans to use around Rs 112.87 crore from the net proceeds of the fresh issue to set up two tailoring units in Ahmedabad, Gujarat, and the rest for general corporate purposes. . Raghuveer Exim mainly processes semi-finished garments into ready-made garments. 97% of its revenue comes from exports. In the last three financial years, it has exported products to more than 25 countries, including the US, Canada, UK, Israel and Australia.

Raghuveer Exim Ltd reported a net profit of Rs 19.24 crore in FY23, a compound annual growth rate (CAGR) of 29.21% during FY 2021-23. In the same period, income from operations grew at a CAGR of 5.81% to Rs 247.56 crore.

Latest business news.

Leave a Comment