Nandan Terry files draft offer document for maiden IPO of up to Rs 254 cr

Ahmedabad based company, Nandan Terry Limited, belonging to Chiripal group, a textile conglomerate, filed draft offer document with the regulators.

The Company is engaged in manufacturing of terry towels and toweling products in Gujarat. The Company plans to raise the funding from IPO for debt reduction and meet its long-term working capital requirements. This offer document does not include any offer for sale.

Chiripal Group enjoys presence in industries such as textiles, education, real estate, packaging and chemicals and offers a wide spectrum of manufacturing, contract manufacturing, trading, distribution and service-related activities in sectors like textiles, education, packaging, infrastructure, petrochemical etc. for more than 3 decades.

Book Running Lead Managers to the issue are Holani Consultants Pvt. Ltd. and BOI Merchant Bankers Ltd. Registrar to the issue is Link Intime India Pvt. Ltd.

Ronak Chiripal, CEO of Nandan Terry said 'It's another mile stone in journey and we are keenly looking forward to it.'

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