NR Vandana Tex Industries Launches Rs. 27.89 Crore IPO: Key Insights

The NR Vandana Tex Industries Limited, a significant name in the cotton textile market, is introducing a Rs. 27.89 crore IPO. Opening on May 28 and closing on May 30, the IPO aims to bolster working capital, repay select loans, and cover corporate expenses, with shares set to list on June 4.

PNN Kolkata (West Bengal) [India], May 27: NR Vandana Tex Industries Limited has announced its Rs. 27.89 crore Initial Public Offering (IPO), set to open on Wednesday, May 28, and close on Friday, May 30. The company, a prominent designer, manufacturer, and wholesaler of cotton textile products, has established a price band of Rs. 42 to Rs. 45 per share.

The IPO involves a fresh issue of 61,98,000 shares, expected to generate Rs. 27.89 crore at the top end of the price range. Allocations include 29,37,000 shares for Qualified Institutional Bidders (QIBs), 11,97,000 shares for Non-Institutional Bidders (NIBs), and 20,64,000 shares for retail applicants, with a lot size of 3,000 shares. Retail investors may apply for a minimum of 6,000 shares, totaling Rs. 2,70,000, while the minimum for High-Net-worth Individuals (HNIs) is 9,000 shares, amounting to Rs. 4,05,000.

The funds from the IPO will support working capital needs (Rs. 16.28 crore), loan repayments (Rs. 5 crore), and general corporate purposes. Expected to list on the NSE SME Emerge platform on June 4, the issue is managed by Marwadi Chandarana Intermediaries Brokers, with Cameo Corporate Services as the registrar and market maker Alacrity Securities. Renowned for its quality cotton sarees, salwar suits, and bed sheets, NR Vandana Tex Industries offers end-to-end production processes and partners with 229 job workers, promoting consistency and quality.

(With inputs from agencies.)