IPO
Two textile firms to raise capital through IPO
Textile companies TC Terry Tex and Shreedhar Spinner have filed papers with the Securities Exchange Board of India (Sebi), to raise over INR 500 crore through initial public offerings (IPOs). TC Terry Tex will tap the main bourse, while Shreedhar Spinners will list on the SME platform.Founded in 2008 by Akhil Satia and Aishwaria Sethi, Punjab-based TC Terrytex operates in the cotton-based home textile segment, manufacturing terry towel products primarily for international markets. In addition, it is also involved in the sale and processing of dyed yarn in the domestic market. The firm plans to raise Rs.170-Cr by issuing fresh shares.Founded in 2020 by Dharmendra Goyal and Vishal Agarwal, Mumbai-based Publicly listed Shreedhar Spinners is a B2B (business-to-business) cotton yarn manufacturer that produces compact spun cotton yarn for textile manufacturers, exporters, traders, and fabric processors.
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