NR Vandana Tex Industries Launches IPO to Fuel Growth in Textile Market

NR Vandana Tex Industries Limited's Rs. 27.89 crore Initial Public Offering opens, seeking to fund working capital and repay loans. The IPO, with a price band of Rs. 42 to Rs. 45 a share, will list on the NSE SME Emerge platform. The company specializes in premium cotton textiles.

NR Vandana Tex Industries Limited is launching a Rs. 27.89 crore Initial Public Offering (IPO) from May 28 to May 30. This leading cotton textile company is offering a completely new issue of 61,98,000 shares, priced between Rs. 42 and Rs. 45.

The company aims to utilize the proceeds primarily for working capital requirements and loan repayments. With shares expected to list on the NSE SME Emerge platform on June 4, the IPO reserves allocations for Qualified Institutional Bidders, Non-Institutional Bidders, and retail applicants.

Specializing in the design and manufacture of cotton textiles, NR Vandana Tex serves a vast network nationally, operating under a B2B model. The company, known for its 'Vandana' and 'Tanaya' brands, showcases a strong presence across India, generating most of its revenue from the eastern region.

(With inputs from agencies.)