Latest News | Aaradhya Disposal Industries Files Draft Papers with NSE Emerge
Get latest articles and stories on Latest News at LatestLY. Aaradhya Disposal Industries, a manufacturer and exporter of high-quality eco-friendly paper products, on Tuesday said it has filed preliminary papers with NSE Emerge to mop-up funds through an initial public offering (IPO).
New Delhi, Dec 17 (PTI) Aaradhya Disposal Industries, a manufacturer and exporter of high-quality eco-friendly paper products, on Tuesday said it has filed preliminary papers with NSE Emerge to mop-up funds through an initial public offering (IPO).
The IPO is a fresh issuance of up to 36.96 lakh equity shares with a face value of Rs 10 each, the company said in a statement.
The shares of the company will be listed on the SME platform of National Stock Exchange (NSE) Emerge, according to the draft red herring prospectus (DRHP).
The company intends to utilise the IPO proceeds worth Rs 20 crore to fund the working capital requirement, Rs 16.56 crore to fund expansion of the company, that includes capital expenditure towards purchase of plant and machinery and civil work.
Funds worth Rs 1.78 crore will also be used for prepayment of term loans to banks and the remaining funds for general corporate purposes.
Dewas-headquartered Aaradhya Disposal Industries specialises in the manufacturing of high-quality paper products that cater to a wide range of industries, both domestic and international.
Founded in 2014 by Sunil Maheshwari, Aaradhya Disposal Industries operates two manufacturing plants. It has exported its finished goods to 16 countries across the globe, including the United Kingdom, Qatar, and Oman, etc.
The company reported Rs 42.08 crore in revenue from operations with a profit (PAT) of Rs 3.34 crore in the first five months of the current financial year ended August 2024.
It reported Rs 73.93 crore in revenue from operations and a profit of Rs 3.73 crore in FY24.
Khambatta Securities Ltd is the sole Book Running Lead Manager, while Bigshare Services is the registrar for the issue.
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