Rachit Prints sets IPO price band at Rs 140-149/share; issue to open on Sept 1

New Delhi, Aug 25 (PTI) Rachit Prints Ltd, a Meerut-based speciality fabric manufacturer, on Monday said it has fixed the price band at Rs 140-149 per share for the Rs 19.5 crore IPO, which will open for subscription on September 1.

The initial public offering (IPO) will conclude on September 3 and the shares of the company will be listed on BSE's SME platform, the company said in a statement.

The public issue is entirely a fresh issue of up to 13.08 lakh equity shares with a face value of Rs 10 each. At the upper price band, the company aims to raise Rs 19.5 crore.

Proceeds from the fresh issue to the tune of Rs 9.5 crore will be utilised towards working capital requirements, Rs 4.4 crore for purchase of plant and machinery, and Rs 1.32 crore for repayment of debt and the balance for general corporate purposes.

Established in 2003 by Anupam Kansal, the company manufactures a range of fabrics used in the mattress industry, including knitted and printed fabrics, warp knit, pillow fabric, and blinding tape.

It also trades in comforters and bedsheets. The company operates on a B2B model and supplies products to leading brands such as Sleepwell, Kurlon Enterprises Ltd, and Prime Comfort Products.

Rachit Prints also benefits from the Ministry of Textiles' Amended Technology Upgradation Fund Scheme, which provides capital investment subsidies to textile companies.

Rachit Prints reported revenue from operations of Rs 41.70 crore and a profit after tax of Rs 4.56 crore in FY25, as compared with revenue of Rs 37.08 crore and a profit of Rs 2.03 crore in the previous fiscal.

Khambatta Securities is the sole book-running lead manager, while Maashitla Securities is the registrar for the IPO. PTI HG HG MR