News Column

Momai Apparels Plans SME IPO

August 26, 2014



Mumbai based loungewear manufacturer @Momai_Apparels Limited has filed DRHP with NSE Emerge -the NSE SME Platform for a public issue of approximately INR 410 Mn through book building route. Of the total INR 410 Mn, the Company contemplates to raise approximately INR 130 Mn as pre-IPO placement.

Pantomath Capital Advisors (P) Ltd, a SEBI Registered Category I Merchant Banker is managing the issue for Momai.

The proceeds will be taken for acquisition of land for new manufacturing facility, long term working capital requirements and general corporate purpose.

Incorporated in the year 2010, Momai is a subsidiary of @Ashapura_Intimates Limited, which raised INR 210 Mn from the BSE SME platform last year.

MAL is engaged in the business of manufacturing of non-branded intimate garments such as loungewear, bridal night wear, honeymoon sets, bathrobes, night wear, sportswear, leggings, camisole.

The company had a a topline of INR 1174 Mn with a PAT of INR 32.6 Mn for the last fiscal.

It is estimated that the $ 490 Bn Indian retail market will grow at a CAGR of 6% to touch $ 865 Bn by 2023. Currently, apparel retail is estimated at $41 Bn and is projected to grow at a CAGR of 9% to reach $101 Bn by 2023.

The SME platform launched by NSE two years back has five SMEs listed on its platform. The total market capitalization of the five companies listed on NSE's SME platform is nearly INR 3,070 Mn.

Thejo Engineering, Veto Switch , VKC Credit, MITCON Consultancy & Engineering Services, Opal Luxury Time Products are the companies listed on Emerge.




For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: DealCurry (India)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters