|Issue Open||Issue Close||Face Value||Market Lot||Listing At|
|Sep 04, 2018||Sep 07, 2018||Rs 10 Per Equity Share||
|Issue Size: Rs 24.60 Cr||QTY Offered: 6,00,000 Shares|
|Fixed Issue Price: Rs 41 Per Equity Share|
- Setting up additional manufacturing facility of 25,536 spindles for production of
Ringspun combed and carded yarn.
- Meeting Issue Expenses.
Lagnam Spintex is an ISO 9001:2015 certified Company engaged in the business of manufacturing of high-quality open end cotton yarn for domestic and export market ranging from count Ne 4 to Ne 20 which is used in Denim, Terry Towels, Bottom Wears, Home Textiles and Industrial Fabrics etc.
The Company has been recognized as “One Star Export House” by the Director General of Foreign Trade and the company has also received OEKO-Tex certification.
The Company has been recognized as Investment Grade company by ICRA (BBB-).
The Company is one of the few textiles companies in the world which has been authorized to use USTERIZED™ Trademark. The quality can be matched to Customers’ requirements with the most Advanced Technology and has Uster Equipments like AFIS PRO 2, UT5, UTR 4 & Classimat 5.
Lagnam Spintex is coming up with an IPO of Rs.24.60 Cr to raise funds for its upcoming manufacturing facility at Bhilwara, Rajasthan.
- D.P.MANGAL is the Chairman of the Company. He looks after business strategies for growth and expansion.
- ANAND MANGAL is the Managing Director of the company. He looks after customer relationship & international business vertical which has led to rapid growth in exports.
(Rs. In Lacs)
- The TEV Study of the Project is assessed by MITCON Consultancy and Engineering Services Limited which is appraised and accepted by lenders (Consortium of SBI and PNB) of the Project.
- The Company has pledged 50% of the equity with the lenders (Consortium of SBI and PNB) for availing the loan of 94cr for the project.
- Bankers have disbursed the initial amount of the sanctioned Loan, prior to public issue which shows the creditworthiness of the company.
- The Company’s loan for the project is eligible for subsidy of 6% under Rajasthan Investment Promotion Scheme, 2014 for the period of 5 years.
- The Chairman Mr D. P. Mangal has served into textile industry for approximately 35 years and have worked with well known firms like RSWM and JCT.
- The company is one of the vey few companies in textile industry which have been making profit from first year of operations.