Textile manufacturer Madhur Knit Crafts has announced plans to raise ₹53 crore through an initial public offering (IPO) on the NSE Emerge platform.
The company will issue 53.27 lakh equity shares within a price band of ₹95 to ₹100 per share. The subscription window for the public issue is scheduled to open on Monday, with anchor bidding commencing on Friday.
For the management of the public issue, SKI Capital has been appointed as the Book Running Lead Manager, while Skyline Financial Services will act as the registrar.
According to the company, the net proceeds generated from the IPO will be utilized for specific financial and operational requirements. These include capital expenditure for purchasing solar panels, repaying certain outstanding borrowings, and supporting general corporate purposes.
Arun Gupta, promoter and Managing Director of Madhur Knit Crafts, stated that the company has built an integrated textile manufacturing platform over the years, spanning from yarn processing to finished fabrics and textile products. He added that the IPO will help strengthen operational capabilities, meet rising working capital requirements, and fund investments in a rooftop solar power plant aimed at improving energy efficiency and sustainability.
Ghanisht Nagpal, Partner for Investment Banking at SKI Capital Services, noted that the company has maintained a strong growth trajectory backed by its integrated manufacturing capabilities, diversified textile portfolio, and experienced management team. He stated that the proposed issue is expected to support the company's next phase of growth and enhance its market visibility.
Madhur Knit Crafts offers a portfolio of blankets, winter textiles, knitted fabrics, and garments, catering directly to consumers as well as retailers, wholesalers, and the apparel and home textile segments. While its primary market is domestic, the company utilizes the textile ecosystem in Ludhiana for sourcing, supply chain management, and nationwide distribution, alongside a limited presence in technical textiles such as paint roller fabrics.
"The decision by Madhur Knit Crafts to go public via the NSE Emerge platform highlights a growing trend of small and medium enterprises utilizing public markets for capital. By directing funds toward debt repayment and solar energy adoption, the company is addressing both balance sheet efficiency and long-term operational sustainability. This approach allows manufacturing businesses to strengthen their fundamentals while enhancing market visibility." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
