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.


Interviews View All

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Urmil Arya,

Urmil Arya

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

Rushiraj Mulani,

Rushiraj Mulani

The Shradhdha Group of companies was established in 2010 and is based out...

Boban Charly,

Boban Charly

Bierrebi designs and manufactures automatic machines that cut fabric into...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

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

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

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

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search