Mandhana Industries files for IPO

To issue 83 lakh equity shares of face value Rs 10 each

Textile and garment maker Mandhana Industries plans to raise funds through public offer to meet its expansion projects and has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi).

Mandhana Industries plans to issue 83 lakh equity shares of face value Rs 10 each at a price to be decided later. The company has placed 6.56% of post-issue fully diluted equity with Axis Bank on a preferential basis to raise Rs 25 crore

Mandhana has textile and garment manufacturing facilities located at Mumbai and Bangalore, respectively.

The company plans to raise funds to set up a new garment manufacturing facility and expand its existing yarn dyeing and weaving facility at an estimated capital expenditure of Rs 206 crore