2024-12-17 10:49:15 :
New Delhi, Dec 17 (PTI) Aaradhya Disposal Industries, a manufacturer and exporter of high-quality eco-friendly paper products, said on Tuesday it has submitted preliminary documents to NSE Emerge to raise funds through an initial public offering (IPO).
The IPO is a new issuance of up to 3.696 million shares with a face value of $10 each, the company said in a statement.
According to the Draft Red Herring Prospectus (DRHP), the company’s shares will be listed on the National Stock Exchange’s (NSE) Emerge’s SME platform.
Company plans to use IPO to raise funds $200 million to meet working capital requirements, $1,656 crore to fund the company’s expansion, which includes capital expenditure for purchase of plant and machinery and civil works.
value for money $Rs 178 crore will also be used for early repayment of bank term loans and the remaining funds will be used for general corporate purposes.
Dewas-based Aaradhya Disposal Industries specializes in manufacturing high-quality paper products that cater to various industries both domestically and internationally.
Aaradhya Disposal Industries was founded in 2014 by Sunil Maheshwari and has two manufacturing plants. The finished products are exported to 16 countries around the world, including the United Kingdom, Qatar, and Oman.
The company reported $Revenue from operations was Rs 420.8 crore and Profit (PAT) was $Revenue for the first five months of the current fiscal year ending August 2024 was Rs 334 crore.
It is reported $Operating Income Rs 7393 Crore, Profit $37.3 Crore in FY24.
Khambatta Securities Ltd is the sole bookkeeping lead manager and Bigshare Services is the registrar for the issue.
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