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IPO

Towelling products maker Nandan Terry files for Rs.255-Cr IPO

Economic Times  

Nandan Terry, part of the Chiripal group, has filed preliminary documents with capital markets regulator Sebi to raise INR 255 crore through an IPO. The proceeds will be used for payment of debt, for funding working capital requirements and general corporate purposes. Holani Consultants and BOI Merchant Bankers are the book running lead managers for the issue. Ahmedabad-based Nandan Terry is a vertically integrated company engaged in the manufacturing of terry towels and toweling products. The company's revenues from operations for FY21 stood at INR 538.52 crore.