Home / Knowledge / News / Textiles / SP Apparels prepares for IPO
SP Apparels prepares for IPO
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

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search