Raghuvir Exim, a manufacturer of home textiles products, has filed draft papers with the capital markets regulator SEBI for an initial public offering (IPO).
As per the draft red herring prospectus (DRHP) submitted on March 31, the IPO consists of a fresh issue of 1.4 crore shares and an offer-for-sale (OFS) of 45 lakh equity shares by promoter Sunil Agarwal.
The company plans to utilize Rs 112.87 crore from the net proceeds of the fresh issue to establish two stitching units in Ahmedabad, Gujarat, with the remainder allocated for general corporate purposes.
Raghuvir Exim primarily generates 97 percent of its revenue from exports. Over the past three fiscal years, it has exported products to more than 25 countries, including the United States, Canada, the United Kingdom, Israel, and Australia.
The Ahmedabad-based company reported a net profit of Rs 19.24 crore in FY23, achieving a Compound Annual Growth Rate (CAGR) of 29.21 percent from FY21 to FY23. Meanwhile, revenue from operations increased at a CAGR of 5.81 percent to Rs 247.56 crore during the same period.
For the six-month period ending in September FY24, the company recorded a net profit of Rs 11.96 crore on revenue of Rs 151.4 crore.
