NR Vandana Tex Industries IPO opens. Here's what you need to know before subscribing
NR Vandana Tex Industries will launch its IPO on May 28, aiming to raise Rs 27.89 crore through a fresh issue of shares priced between Rs 42 and Rs 45. The Kolkata-based textile company, known for its Vandana and Tanya brands, will use the funds for working capital, debt repayment, and general corporate purposes.
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The initial public offering (IPO) of NR Vandana Tex Industries will open for subscription today, May 28, and will remain open until May 30. The company aims to raise Rs 27.89 crore through a fresh issue of 61.98 lakh shares. The price band has been fixed between Rs 42 and Rs 45 per share.Investors looking to apply must bid for a minimum of one lot, which includes 3,000 shares. At the upper end of the price band, this requires an investment of Rs 1,35,000. High net-worth individuals need to apply for at least two lots or 6,000 shares, amounting to Rs 2,70,000.NR Vandana Tex Industries is a textile company based in Kolkata that designs, manufactures, and sells cotton sarees, salwar suits, and bed sheets under the brand names Vandana and Tanya. The company uses a business-to-business model and sells its products through a network of over 1,000 wholesalers spread across 31 states in India. It also operates through various B2B platforms like Udaan and Ajio.The company plans to use the money raised from the IPO to meet its working capital needs, repay some loans, and for general corporate purposes.NR Vandana has shown strong financial performance in recent years. Revenue rose 23 percent to Rs 271 crore in FY25, and profit more than doubled to Rs 8.6 crore. The company has a return on equity of 17.5 percent and a debt-to-equity ratio of 2.43.The IPO is being managed by Marwadi Chandarana Intermediaries, and Cameo Corporate Services is the registrar to the issue. The allotment is expected to be finalized by June 2, and shares are likely to be listed on the NSE SME platform by June 4.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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