Nandan Terry IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 19, 2022Nandan Terry Limited is a manufacturer of terry towels and toweling products. The company is based in Ahmedabad, Gujarat, and operates across various country areas.
The company has filed a Draft Red Herring Prospectus with the capital market regulator so as to seek its approval. Through the Nandan Terry IPO, the company is planning to mop funds of Rs. 255 crores.
Before making an investment decision about an IPO, it is elemental to gather all the information about the company and its IPO. Do not worry; we are here to help with Nandan Terry IPO Review.
| Face Value | Rs 10 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs.255 Crore |
| Tick Size | 1 |
Nandan Terry IPO Overview
Nandan Terry Limited is gearing up to raise funds of up to Rs. 255 crore from the public through an IPO. DRHP for Nandan Terry IPO has been filed with SEBI, and the company is expecting approval soon.
The purpose of the proposed IPO is to repay the company’s debts mainly and for other corporate purposes.
Also, Nandan Terry may consider a pre-IPO placement before the filing of RHP with RoC to raise Rs 40 crore. If such a pre-IPO round is successful, the issue size will be reduced up to such an extent.
Nandan Terry IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Nandan Terry Limited filed the preliminary papers in December 2021. The company is waiting for approval. Post the approval, it will proceed towards the launch of IPO and listing of its shares on the stock exchange. The Nandan Terry IPO Dates will be declared after obtaining the SEBI Nod.
An IPO date is determined after putting emphasis on every factor having a direct or indirect effect on the success of the IPO.
Nandan Terry IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Not Disclosed |
| IPO Size | Rs.255 crore |
Nandan Terry IPO Size and Nandan Terry IPO Price is unknown. It is a Book Built Issue where the price is discovered through the Book Building Process.
The company will receive bids from the investors to subscribe to the shares at different within the price band. The face value of the equity shares is Rs. 10 each. The company shares are proposed to be listed on NSE and BSE.
Nandan Terry IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Disclosed | |||
Grey Market is an unofficial market for trading. The equity shares of the issuer company are traded in this market before the listing on the stock exchange. The Grey Market Premium is an essential element of trading.
It is the amount at which the shares are traded at. The GMP changes every day with the quantum of trading. Nandan Terry IPO GMP will be available after the IPO dates are revealed.
Nandan Terry IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
Subscription is the process where the investors agree to purchase a certain quantity of equity shares offered in the public offer. The subscription is the real show time where the company opens the issue for the public.
Investors can apply for shares in lots usually. A lot consists of a minimum number of shares required to subscribe to apply for the IPO.
Nandan Terry IPO Subscription will be announced after the preliminary procedure is completed.
Nandan Terry IPO Allotment Status
The Nandan Terry IPO Allotment will commence after the IPO is closed for the subscription. The company will first determine the basis of allotment and later credit the shares online.
The shares will be transferred in the dematerialized form. The entire process will occur as per the regulations set regarding the IPO and its proceedings.
Nandan Terry IPO Live Performance
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Nandan Terry – Company Review
The company was first incorporated as a private limited company, “Nandan Terry Private Limited.”
Last year, i.e., 2021, the company was converted to a public limited company, and consequently, its name was changed to “Nandan Terry Limited” in August 2021.
Nandan Terry Limited is a subsidiary of the Chirpal Group. The Group has marked its presence in various sectors, including education, trading, contract manufacturing, textiles, real estate, petrochemicals, and packaging.
The entity undertakes manufacturing and distributing activities for a variety of industries. The company is mainly engaged in the business of manufacturing terry towels and toweling products in Gujarat.
Products or Services
An outcome of Chiripal Group, Nandan Terry Limited is a fine entity creating the most comfortable and fluffy towels for its customers.
The company manufactures and sells a wide range of towels, including Beach Towels, Pool Towels, Cotton Bamboo, Magic Yarn, Viscose Linen, and Cotton Hemp.
The company also has exclusive collections of towels, some of which are the Fashion Collection, Heritage Collection, Yarn Dyed Collection, and Zero Twist Texture Collection.
Apart from this, Nandan Terry also makes substantial revenue from selling cotton yarn manufactured at its facility.
The company primarily operates from its five manufacturing units situated in the state of Gujarat. From these manufacturing units, the company delivers its products in India as well as across the boundaries.
Promoters and Holding
The Promoters of Nandan Terry Limited are:
- Vedprakash Chiripal
- Brijmohan D Chiripal
- Chiripal Exim LLP
- Devkinandan Corporation LLP
The management of the entity includes:
- Vedprakash Chiripal, in the position of Chairman and Non-Executive Director
- Brijmohan D Chiripal, in the position of Managing Director
- Vipin Chandra Rajput, in the position of Whole Time Director
- Susanta Kumar Panda, in the position of Independent Director
- Dhara Shah, in the position of Independent Director
- Debdatta Nandwani, in the position of Independent Director
- Ronak Brijmohan Chiripal, in the position of Chief Executive Officer
- Anshuman Srivastava, in the position of Chief Financial Officer
- Deval Bakulkumar Patel, in the position of Company Secretary and Compliance Officer
Is Nandan Terry good for Investment?
Nandan Terry is a textile company that serves largely the business–to–business segment. The company has its manufacturing units in Gujarat, where it caters to the domestic and international markets.
Nandan Terry has a robust presence in about 18 countries, and a sizeable portion of the company’s revenues are generated from the international market.
It has spread the business across countries like Canada, Germany, the United States of America, Sweden, Israel, Australia, Hong Kong, and the United Kingdom.
One of the company’s strengths is its Strong Technological Capabilities and access to suitable machinery and the latest technology.
Nandan Terry Financial Statements
| Amount (in INR & Lakhs) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Assets | 73,463.88 | 67,969.81 | 65,528.84 | 65,783.90 |
| Revenue | 50207.44 | 53894.12 | 42969.48 | 32242.75 |
| Expense |
46101.13
|
50748.86 | 42574.05 | 32280.98 |
| Profit After Tax | 3062.02 | 2337.74 | 122.40 | (50.41) |
Nandan Terry operates in a unique segment and has secured a high place with its endeavors. It has made high growth in its profitability as well over the years.
The company’s total income for the years 2019, 2020, and 2021 was – Rs. 322.43 crore, Rs. 429.69 crore, and Rs. 538.94 crore.
The company’s profit after tax for 2019, 2020, and 2021 was – Rs. (0.50) crore, Rs. 1.22 crore, and Rs. 23.38 crore.
In the six months of the financial year 2021 ended September 30, 2021, the company’s profit was Rs. 30.62 crore.
| Earnings per Equity Share (in Lakhs) | ||||
| 30-Sept-21 | Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 6.69 | 5.11 | 0.27 | 0.11 |
The EPS of Nandan Terry is also growing with its operations. As of September 30, 2021, the EPS was Rs. 6.69, which was Rs. 5.11 earlier in the year.
Nandan Terry IPO Review
The Ahmedabad-based Textile Company Nandan Terry Limited is all set to make an entrance on the stock exchange with its upcoming IPO. The company will be raising Rs. 255 crores with the Initial Public Offering (IPO).
As per the DRHP, the company might consider undertaking a Pre-IPO placement to raise Rs. 40 crore. Such Pre-IPO placement of shares will decrease the IPO size.
The company is launching the Nandan Terry IPO to repay or prepay the company’s outstanding borrowings. The IPO will improve the debt-equity ratio and help concentrate on enhancing the company’s operations.
Nandan Terry IPO Details
Here are few more details you need to know before investing in Nandan Terry IPO –
Nandan Terry IPO Issue Object
- Part repayment / pre-payment of certain secured loans availed from lenders;
- Funding the working capital requirements of our Company; and
- General corporate purposes.
Nandan Terry IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strong Technological Capabilities with vertically integration;
- Strategic location of existing Manufacturing Facilities;
- Strong sales and marketing capabilities; and
- Experienced and Dedicated Management Team;
Quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 5.11 | 19.99 | 25.56 |
| 31-Mar-20 | 0.27 | 1.32 | – |
| Mar-19 | (0.11) | (0.54) | – |
Nandan Terry IPO Lead Managers
Here are the list of Lead managers –
- HOLANI CONSULTANTS PRIVATE LIMITED
- BOI MERCHANT BANKERS LIMITED
Nandan Terry IPO Registrar to offer
Check out the details of the registrar here –
LINK INTIME INDIA PRIVATE LIMITED
C – 101, 247 Park, 1
st Floor, L.B.S. Marg, Vikhroli (West), Mumbai 400083,
Maharashtra, India
Tel: +91 22 49186200
Fax: +91 22 49186195
Website: www.linkintime.co.in
Email: nandan@linkintime.co.in
Investor Grievance ID: nandan@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058
Nandan Terry IPO – Other Details
- Statutory Auditor – C. N. Somani & Associates
- Legal Counsel to the Company – Chir Amrit Corporate LLP
- Bankers to the Company – Bank of Baroda, State Bank of India, Central Bank of India, Punjab National Bank and Canara Bank
Nandan Terry IPO – Conclusion
Nandan Terry is a growing company and has a profitable financial record. The company’s products are traded in the domestic and international markets. The company has good exposure to the market and the industry.
The company is backed by Chiripal Group, which itself is engaged in the manufacturing, distribution, and marketing of various products and caters to multiple industries.
Company is investible and has good potential to offer impressive outcomes in the future. Further details of the IPO will be available after the SEBI approval.
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Nandan Terry IPO Review FAQs
Check out the FAQs on Nandan Terry IPO –
What is the Issue Size of Nandan Terry IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Nandan Terry IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Nandan Terry IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Nandan Terry IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Nandan Terry IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Nandan Terry IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. LINK INTIME INDIA PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Nandan Terry IPO?
Here are the promoters of this IPO – VEDPRAKASH CHIRIPAL, BRIJMOHAN D CHIRIPAL, CHIRIPAL EXIM LLP AND DEVKINANDAN CORPORATION LLP. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Nandan Terry IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Nandan Terry IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Nandan Terry Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 2337.74, 2020 is 122.40, 2019 is (50.41). PAT from Sept 2021 is 3062.02.
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