Now Reading: Madhur Knit Crafts IPO opens August 24, price band Rs 95-100
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Madhur Knit Crafts IPO opens August 24, price band Rs 95-100
Madhur Knit Crafts' initial public offering will open for subscription on August 24 with a price band of Rs 95 to Rs 100 per share. The company plans to use Rs 20.85…
Madhur Knit Crafts' initial public offering will open for subscription on August 24 with a price band of Rs 95 to Rs 100 per share. The company plans to use Rs 20.85 crore of the IPO proceeds to prepay or repay certain outstanding borrowings, and Rs 15.92 crore for working capital requirements.
The IPO comprises a fresh issue of equity shares. The funds raised will help the company reduce its debt burden and strengthen its working capital position. The issue will close on a date to be announced.
Indian Opinion Analysis
This is a small-cap IPO from a textile manufacturer. The use of proceeds for debt repayment and working capital is typical for companies in capital-intensive sectors like textiles. Investors should watch the company's debt-to-equity ratio after the issue and its order book for knitwear exports. The listing date will be a key near-term trigger.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
