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PNN
Kolkata (West Bengal) [India], August 10: Apparel manufacturer Fascinate Textiles Limited will open its initial public offering (IPO) on August 11, aiming to raise Rs. 66.98 crore to support capacity expansion, acquisitions, working capital requirements and debt repayment. The IPO will open on August 11 and close on August 13. The company has fixed the price band of Rs. 148 to Rs. 156 per equity share. The total issue size is 42,93,600 shares, which comprises a fresh issue of 34,57,600 shares and an offer for sale (OFS) of 8,36,000 equity shares. The shares are proposed to be listed on the NSE Emerge platform. The minimum application size has been fixed at 800 shares, while retail investors will be required to bid for 1,600 shares, amounting to Rs. 2,49,600. HNI investors will need to apply for a minimum of 3 lots (2,400 shares), amounting to Rs. 3,74,400. Fascinate Textiles proposes to utilise the net proceeds from the fresh issue towards funding inorganic growth through acquisitions and general corporate purposes, capital expenditure for setting up an additional manufacturing facility, meeting working capital requirements and repayment or prepayment of certain secured and unsecured borrowings. Of the total proceeds, Rs. 12.40 crore has been earmarked for the proposed manufacturing facility, Rs. 19.03 crore for working capital requirements and Rs. 2.67 crore towards repayment of borrowings. Founded in 2017 by Vishal Nahar in Barasat, West Bengal, Fascinate Textiles manufactures a wide range of garments across menswear, womenswear and childrenswear. The company operates an integrated manufacturing facility that manages the entire production process, from design development and sample creation to garment manufacturing. Its product portfolio includes T-shirts, joggers, shorts and vests for men, everyday apparel for women, and T-shirts, leggings, joggers and infant wear for children. The company also develops customised apparel collections for clients based on specific themes, mood boards and buyer requirements. Fascinate Textiles supplies garments to large-format retailers and wholesalers in domestic and international markets. For the financial year ended March 31, 2025, the company reported revenue of Rs. 60.25 crore and a net profit of Rs. 5.81 crore. According to the issue schedule, the basis of allotment is expected to be finalised on August 14, while refunds and credit of equity shares to demat accounts are scheduled for August 17. The shares are expected to be listed on August 18. Disclaimer: This article is for informational purposes only and does not constitute financial advice. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
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