Cedaar Textile, manufacturer of a diverse range of yarns and textile products, plans to raise ₹61 crore through initial public offering on NSE Emerge.

The company will issue 43.50 lakh equity shares in the price band of ₹130- ₹140 a share. The anchor bidding will open on June 27 and closes on July 2.

The net proceeds from the IPO will be used for installation of Solar PV Rooftop System for captive purpose, modernization of the machines, to meet working capital requirements and general corporate purposes.

Fast Track Finsec will be the Book Running Lead Manager for the issue while Skyline Financial Services will be the Registrar.

The company has a spinning and dyeing capacity of 9,000 tonnes and 1,900 tonnes. It produces 10 tonnes of fabrics per day and plans to enter garments business next year. Cedaar Textile has a debt of Rs 116 crore which includes term loan of Rs 36 crore and working capital of Rs 80 crore.

Rajesh Mittal, Managing Director, Cedaar Textile said the fresh capital raised will allow us to modernize key manufacturing assets, strengthen the energy efficiency through solar integration, and expand into promising areas such as technical textiles and branded apparel.

“We see this as a strategic opportunity to reinforce our leadership in the value-added textile segment, deepen market presence and continue delivering innovative, sustainable products to our customers worldwide,” he said.

Published on June 25, 2025