IPO
Spunweb Nonwoven’s SME IPO oversubscribed
Economic Times Spunweb Nonwoven
The SME IPO of Morbi (Gujarat)-based textile manufacturer Spunweb Nonwoven has been subscribed 43.7 times on the final day of bidding. The IPO consists entirely of a fresh issue of 63.52 lakh shares, with a price band of INR 90-96 per share. The company aims to raise INR 61 crore through the issue and intends to utilize the IPO proceeds to meet its working capital needs, facilitate investment in its subsidiary SIPL, and undertake partial repayment of existing debt.Individual investors made 14,89,96,800 bids via 62,000 applications, followed by the non-institutional investors (NIIs), who subscribed to 4,89,26,400 shares through a total of 6,481 bids. The qualified institutional buyers (QIBs) had made just 4 bids for 19,99,200 shares.Spunweb Nonwoven , established in 2015, specializes in the production of nonwoven fabric and serves a variety of sectors, including hygiene products, medical supplies, packaging solutions, agricultural uses, and construction materials.For the fiscal year 2025, Spunweb reported a 47% increase in revenue and a 98% rise in profit, while its EBITDA nearly doubled compared to the previous year.
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