Mukesh Trends Lifestyle plans IPO, files DRHP with SEBI - Moneycontrol.com

Mukesh Trends Lifestyle plans IPO, files DRHP with SEBI - Moneycontrol.com

Ahmedabad-based fabric manufacturer Mukesh Trends Lifestyle has filed a Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for a proposed initial public offering (IPO).

The company is seeking an issue of up to 1 crore equity shares of the face value of Rs 10 each, the DRHP says.

The IPO size would be around Rs 70 to 90 crore, market sources said. Pantomath Capital Advisors Private Limited will be the lead managers for the issue.

The company deals in fabric manufacturing and processing. It also exports fabric to Sri Lanka, Bangladesh and other South Asian countries.

As per the DRHP, the company's total revenue grew at a CAGR of 5.40 percent between financial year 2017 and 2019. Restated profit after tax grew at a CAGR of 116.18 percent for the same period.

The company says it has operations in nine states and one union territory. It has a diverse offering across cellulosic products like cotton, rayon, viscose as well as dyed and printed knitted and woven fabrics, blended fabrics, a company release said.
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2019-10-03 08:28:00Z
https://www.moneycontrol.com/news/business/markets/mukesh-trends-lifestyle-plans-ipo-files-drhp-with-sebi-4498761.html

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