The initial public offering(IPO) of Ahmedabad-based company Shri Techtex a manufacturer and exporter of polypropylene (PP) non-woven fabric will open for subscription on 26th July 2023 and conclude on July 28, 2023. The price band is fixed at ₹54-₹61 to raise up to Rs 45.14 crores and investors can bid for 2,000 shares in 1 lot.
Mr. Hanskumar Agarwal, Executive Director of Shri Techtex Limited, expressed his optimism about the public issue, stating: “We have been on an excellent growth trajectory and have established a strong foundation in terms of products, capacities, clientele, and geographical reach during the first decade of our operations. Transitioning to a public company opens up new horizons of ambitions for the company.”
The company manufactures PP non-woven fabric in various sizes and densities up to 4.5 meters in size and 15 GSM to 800 GSM. Non-woven fabric is more ecological for certain applications, especially in fields and industries where disposable or single-use products are important, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, Mattress & furniture covering, an ecological packaging, industrial and consumer goods. Its manufacturing facility is located at Simaj of Dholka Taluka in the Ahmedabad District of Gujarat and offers proximity to near about transport hubs. The manufacturing facility is spread across 41,548 sq. meters and installed with a 3600 MT PP non-woven fabric capacity per annum.