Kaytex Fabrics issue to launch on July 29: IPO price band fixed at ₹171-180 per share; check other details

Kaytex Fabrics, a digital textile printing company, on Wednesday said it has fixed the price band at ₹171-180 per equity share for a nearly ₹70 crore initial public offering (IPO) which will hit the capital market on July 29.

The SME IPO will open on July 29 and conclude on July 31. The company's shares will be listed on the NSE's Emerge platform, Kaytex Fabrics said in a statement.

The public issue is a mix of fresh issue of 31.99 lakh equity shares aggregating to ₹57.59 crore and an offer for sale of up to 6.79 lakh shares amounting to ₹12.23 crore by the promoters Sanjeev Kandhari and Amit Kandhari.

Post-IPO, promoters will hold 73.61% of the equity stake, while the public will hold 26.39%.

Proceeds from the fresh issue worth ₹2.56 crore will be utilised towards funding capital expenditure for construction of additional warehouse facility in Amritsar, ₹3.73 crore will be used for construction of a dedicated sales office in Amritsar.

Funds worth ₹5.01 crore will be directed towards purchase of advanced fabric processing system for the existing printing, dyeing and processing unit in Amritsar and ₹30 crore will be used to meet working capital requirements.

The remaining proceeds will be used for general corporate purposes and issue expenses.

Incorporated in January 1996, Kaytex Fabrics is a fast-fashion manufacturer that combines technology, creative design, and craftsmanship to deliver high-quality textiles.

The company specialises in fabrics from diverse fibres like cotton, viscose, and polyester. It offers quality fabrics, ready-to-stitch womenswear, and modern, trendy designs. The company sells its products under the brand names "Rasiya", "Kaytex", and "Darbaar-e-Khaas".

For FY25, the Punjab-based company posted revenue of ₹152.79 crore and profit after tax of ₹16.90 crore. Socradamus Capital Pvt Ltd is the sole book-running lead manager of the offer.