Home / Knowledge / News / Textiles / Chiripal Industries files DRHP with the SEBI
Chiripal Industries files DRHP with the SEBI
25
Mar '08
Chiripal Industries Limited (CIL), one of the leading vertically integrated textile players in the country, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). CIL proposes to access the domestic capital market with its Initial Public Offering (IPO) of 14,216,700 equity shares of Rs 10 each for cash at a price to be decided through 100% book-building process.

The IPO comprises of a Net Issue to public of 12,100,000 Equity Shares of Rs 10 each, Promoters' contribution of 1,916,700 Equity Shares of Rs 10 each and a reservation of up to 200,000 Equity Shares of Rs 10 each for eligible employees. The Net Issue will constitute 34.57% of the post issue paid up capital of the Company. The Equity Shares are proposed to be listed on Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd.

The Company is also considering a pre-IPO placement prior to the issue. If the Pre-IPO Placement is completed, the Net Issue to the Public would be reduced to the extent of such pre-IPO placement, subject to a minimum Net Issue to the Public being 25% of the post Issue paid-up capital of the Company. The company has appointed IDBI Capital Market Services Limited as a Book Running Lead Manager for the issue.

CIL, the flagship company of Ahmedabad based Chiripal Group, has its presence in the entire value chain right from manufacturing of yarn to readymade garments. CIL operates in man-made fiber segment,specially in the polyester based products. The consolidated turnover of the company was Rs. 4904.54 million for the Fiscal 2007.

The manufacturing facilities of CIL consisting of two units are located at Piplej in Ahmedabad, Gujarat. Manufacturing of partially oriented yarn (POY), fully drawn yarn (FDY), draw twisted yarn, air texturised yarn, draw texturised yarn, warp knitted fabrics and circular knitted fabrics is undertaken at Unit 1, while manufacturing as well as processing of varieties of fabrics and ready-made garments is undertaken at Unit 2. The company has one of the largest processing house in the country with a processing capacity of 85.80 million meters per annum.

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search