Sitaram Denims India filed IPO DRHP: Issue Details and Use of Proceeds

According to the DRHP, the IPO comprises up to 3.09 crore equity shares, including a fresh issue of up to 2.65 crore shares and an Offer for Sale (OFS) of up to 44.71 lakh shares by existing shareholders. Furthermore, the face value is ₹5 per share, and the shares are proposed to be listed on BSE and NSE. 

IPO Lead Manager & Registrar Details
SMC Capitals Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar to the issue. 

Utilisation of Sitaram Denims India IPO Proceeds

The company is going to utilised the fresh issue towards: 

• Repayment of existing loans.
• Setting up a new readymade garment manufacturing facility at Banera, Bhilwara.
• Meeting day-to-day working capital requirements. 
• General corporate purposes.

About the company
Sitaram Denims India Limited is engaged in manufacturing and supplying branded and unbranded woven fabrics, mainly for the apparel industry. Its product range includes cotton-spandex, rigid cotton, denim, polyester-viscose (PV), and other blended fabrics. Moreover, 

They provide job-work services to customers using weaving and sizing facilities, as per the requirement, and also supply sized yarn.