Nandan Terry IPO

Nandan Terry Limited is a subsidiary of the Ahmedabad-based Chiripal Group, which operates in businesses such as textiles, schooling, real estate, packaging, and chemicals. Nandan Terry IPO will hit the market in April 2021.

About Nandan Terry

Textiles, education, packaging, infrastructure, and petrochemicals are among the industries where it provides a wide range of production, contract manufacturing, trade, distribution, and service-related operations.

Their company was founded in 2015 and has grown into a completely vertically integrated company that specialises in the production of terry towels and towelling products.

They buy cotton bales from domestic and foreign markets and transform them into cotton yarn, which is then used to make terry towels and other towelling items.

To fulfil market demand, they outsource the production of finished towels and woven fabrics, which are then CSP (Cutting, Stitching, and Packing) at their facility.

Production & Sales

Furthermore, all of their five manufacturing plants and capabilities are located in Gujarat, India, and are dedicated to the production of terry towels and towelling products for the business-to-business (B2B) market.

Their company creates a diverse range of terry towels and towelling items for a variety of domestic and international brands. Their company also has an in-house research and design centre to meet the needs of their customers for all types of designs and patterns.

They have been able to increase their sales globally to nations such as the United States of America, Canada, Israel, Germany, Hong Kong, Sweden, the United Kingdom, and Australia due to their strong adherence to internal quality assurance and world class norms.

Certification

They are accredited by OEKO-TEX, SEDEX, GOTS (Global Organic Textile Standard), SA 8000, and other well-known global certification bodies for their quality, environmental consciousness, labour practises, processes, and customer service.

The Cotton Textiles Export Promotion Council (TEXPROCIL) presented their company with a Silver Plaque for achieving the top export of Terry Towels in the Rs.10-100 Crores category in the 2017–18 fiscal year.

Many international organisations have acknowledged them. In 2018, they were also honoured with the Gujarat – Best Employer Brand Award.

Ronak Brijmohan Chiripal, their CEO, received the Indian Achievers Award for Young Entrepreneurs in 2021.

Nandan Terry IPO

Nandan Terry Limited, headquartered in Mumbai has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 254.96 crores on 10 December 2021.

The offer includes a fresh issue of INR 254.96 crore and there is no offer for sale (OFS) by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement of 40 crores in this issue.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	30-Sep-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	734.64	679.70	655.29	657.84
Total Revenue	502.07	538.94	429.69	322.43
Profit After Tax	30.62	23.38	1.22	(0.50)

Basic and Diluted Earnings Per Share

Financial Period	Basic EPS (in INR)	Diluted EPS (in INR)	Weight
Financial Year 2021	5.11	5.11	3
Financial Year 2020	0.27	0.27	2
Financial Year 2019	(0.11)	(0.11)	1
Weighted Average	2.63	2.63
30 Jun. 2021	6.69	6.69

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

The following are among the basic variables that go towards determining the Issue Price:

• Vertical integration and strong intellectual abilities.
• Existing production plants are strategically located.
• Expertise in sales and marketing.
• Leadership team with a lot of experience and dedication.

Peer Comparison

S. No.	Face Value	Company Name	PE
1	1	Welspun India Limited	26.13
2	1	Trident Limited	80.98
3	5	Himatsingka Seide Limited	N/A

Note:

1. The peer is not technically comparable due to the nature of the firm ‘s operation, but it has been included for general comparison.
2. The P/E Ratio was calculated by dividing the closing market price of equity shares on the National Stock Exchange of India Limited on December 01, 2021 by the Diluted EPS shown above in the table.

Nandan Terry IPO Details

IPO Opening Date	April 2021
IPO Closing Date	April 2021
Issue Type	Book Building
Face Value	10 per share
IPO Price	0 to 0 per equity share
Market Lot	–
Min Amount	–
Listing At	BSE, NSE
Issue Size	254.96 Crores
Fresh Issue	254.96 Crores
Offer for Sale	–

Nandan Terry IPO Date

Nandan Terry IPO opening date is April 2021, and the closing date is April 2021. The Nandan Terry issue may list in April 2021.

IPO Opening Date	April 2021
IPO Closing Date	April 2021
Basis of Allotment Date	April 2021
Initiation of Refunds	April 2021
Credit of Shares to Demat Account	April 2021
IPO Listing Date	April 2021

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	50	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	35	Minimum 1 lot based on availability

Nandan Terry Allotment Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Nandan Terry IPO.

Nandan Terry IPO GMP

Nandan Terry IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:

Date	GMP (in Rs)	Subject to Sauda	Kostak (in Rs)
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021
April 2021

Check Out the GMP of all Other IPOs

IPO Grey Market Premium

Nandan Terry IPO Review

Nandan Terry IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Nandan Terry IPO is good or bad.

Nandan Terry IPO Risk

• There are pending legal proceedings comprising their Company, Promoters, Directors, and Group Companies, which, if found in their favour, could have a negative impact on their operations.
• SEBI has previously barred their listed Group Entity CIL Nova Petrochemicals Limited from entering the capital markets due to a violation of the SEBI.
• To conduct their business, businesses must obtain, renew, or keep certain statutory and regulatory permissions and approvals.
• Their firm has contingent liabilities that may have an impact on the firm ‘s financial state.
• Currently, they are eligible for several export promotion schemes.
• Their business has taken out a number of interest-free unsecured loans from various corporations and limited liability partnerships.

Other Threats

• The possibility of a higher tax rate being applied to their firm could offer their new rivals a competitive advantage.
• As a result of the change in their firm ‘s name, some permissions will need to be changed.
• Their Firm may lack substantial expertise in the business operations and activities that it does.
• Their Company has previously experienced losses as a result of its business operations, which could have a negative impact on their business and the value of their Equity Shares.
• Their top ten customers account for a large amount of their revenue.
• Other than recovery of expenses incurred or remuneration, their Promoters, Directors, and KMPs may have an interest in their Business.

Production Plant

Their company is a vertically integrated manufacturer, with operations that handle several aspects of the terry towel producing method, including spinning, weaving, dyeing, cutting, stitching, and packing (CSP) and processing.

They have set up reliability regulate services at each unit, which comprise of their quality assurance and quality control players who check and conduct numerous checks on the ingredients at numerous phases.

Beginning from the raw materials procured to the final products produced by them, to guarantee that they supply value goods that satisfy the relevant standards.

Their amenities, including water, power, and so on, supplement their capabilities, making it a crucial link between all of them.

Capacities

They use cutting-edge technology and machinery from leading Indian and international vendors and distributors. Their plant has 102 looms, 24 of which are Jacquard looms and 78 of whom are Dobby looms.

To manufacture the perfect towel, the processing department is equipped with the most up-to-date machines in the finishing sector. Even the folding and packing operations are done on the most up-to-date machines, ensuring quality control and precision.

These cutting-edge machines also assist them in upholding high quality standards. New technology allows for radical design and creativity in the creation of new styles and trends. They’ve been able to experiment with new dyes and prints because to technological advancements.

Quality standards and Assurance

Their manufacturing procedures include Quality Assurance and Quality Control. Quality, they feel, is a continuous process of establishing and maintaining partnerships.

All of their products are created strictly according to the domestic and international standards laid forth by their clients and regulatory agencies, thanks to the knowledge of their experienced and qualified workforce. Their commitment to providing high-quality products is backed up by their experience of the business.

All of their production sites include a fully equipped Quality Control facility staffed by experienced and certified personnel who perform quality checks and inspections at all stages of the production process.

Nandan Terry IPO Brokerage views

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Nandan Terry IPO Subscription Status

Date	Day	QIB	NII	Retail	Employees	Total Subscription
April 2021	1
April 2021	2
April 2021	3

Management

their individual promoters, who are also members of the Board of Directors, have been with them since the beginning and have comprehensive information and knowing of the domestic and global textile corporate environment, as well as the competence and foresight to naturally scale up their business.

They are founder members who are actively engaged in the Firm’s operations decision-making in areas such as corporate and organizational affairs, operational functions, growth activities, business development, and total business administration.

They have a proven track record of over 20 years. They play a critical role in the development of their company’s activities, growth, and future possibilities.

Promoters

• Mr. Vedprakash Chiripal
• Mr. Brijmohan D Chiripal
• Chiripal Exim LLP
• Devkinandan Corporation LLP.

Promoters’s Holding

Pre Issue Share Holding	53.56%
Post Issue Share Holding

Nandan Terry Prospectus