KOLKATA, (Economy India): Apparel manufacturer Fascinate Textiles Limited is set to launch its Rs. 66.98 crore initial public offering (IPO) on August 11, with the company looking to raise funds for business expansion, acquisitions, working capital and debt repayment.
The IPO will remain open until August 13. The company has fixed the price band at Rs. 148 to Rs. 156 per equity share, with the shares proposed to be listed on the NSE Emerge platform.
The total issue comprises 42,93,600 equity shares, including a fresh issue of 34,57,600 shares and an offer for sale (OFS) of 8,36,000 shares.
IPO Application Details
The minimum application size has been set at 800 shares. Retail investors will have to apply for at least 1,600 shares, requiring an investment of Rs. 2,49,600 at the upper price band of Rs. 156 per share.
For HNI investors, the minimum application is 3 lots, or 2,400 shares, amounting to Rs. 3,74,400 at the upper price band.
Expansion and Acquisition Plans
Fascinate Textiles plans to use a significant portion of the IPO proceeds to expand its manufacturing capacity and strengthen its operations. The company also intends to explore acquisitions as part of its growth strategy.
The funds will additionally help meet working capital requirements and reduce the company’s debt burden, potentially strengthening its financial position as it expands.
The IPO comes as the Indian apparel and textile sector continues to see opportunities from rising domestic consumption, changing fashion preferences and growing demand from organised retail and export markets.
Investors will closely watch the company’s subscription response and listing performance as the IPO opens for bidding on August 11.
(Economy India)
