The company seeks an issue of up to 1cr equity shares of face value of Rs10 each according to the DRHP filed with SEBI.
The BRLM to this issue is Pantomath Capital Advisors Private Limited.
MTLL, an integrated manufacturer, who commenced commercial production in the 1900s and currently has its business operations in 9 states and 1 union territory. It has a diverse offering across cellulosic products like cotton, rayon, viscose as well as dyed and printed knitted and woven fabrics, blended fabrics which have wide-scale applications in the garment industry
As per the market sources, the IPO issue size will be approximately between Rs70 to 90cr.
Keeping in mind the increase in demand from markets like China, Turkey and Brazil, the company intends to set up a new manufacturing unit to process knitted denim fabrics. MTLLs exports grew at a CAGR of 366.80% from Rs5.01mn in FY17 to Rs109.17mn in FY2019.
India continues to be a major exporter of textiles while the US and Europe continue to be major importers.