Home / Knowledge / News / Textiles / SP Apparels prepares for IPO
SP Apparels prepares for IPO
31
Dec '15
Coimbatore-based SP Apparels has filed draft papers with capital markets regulator Sebi to raise at least Rs 215 crore through its initial public offer.

The company aims to mop up to Rs 215 crore through fresh issue of shares, while its existing shareholders will offload 9,00,000 equity shares, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi.

SP Apparels manufactures and exports knitted garments for infants and children. It also manufactures and retails menswear in India under the brand 'Crocodile'.

The company said that proceeds from the fresh issue will be utilised for repayment of debt, expansion and modernisation of manufacturing facility at Salem in Tamil Nadu and opening of new stores for the sale of 'Crocodile' products.

The funds raised will be also used for addition of balancing machineries for its existing dyeing unit at Sipcot, Perundurai in Tamil Nadu and other general corporate purposes.

The company intends to list its shares on BSE and NSE.

The company said that as of November, 2015, its aggregate outstanding debt was Rs 251.8 crore comprising long-term borrowings, short-term borrowings and current maturities of long-term borrowings.

SP Apparels reported a net profit of Rs 10.1 crore in 2014-15 fiscal. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search