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08 Aug, 2025
Rachit Prints, a specialty fabric manufacturer based in Meerut, has received in-principle approval from the BSE SME Exchange to launch its much-anticipated initial public offering (IPO). With this IPO, the company is planning to raise approximately ₹19.5 crore through a fresh issue of up to 13.08 lakh equity shares, each with a face value of ₹10. The IPO is a purely book-building issue.
Rachit Prints’ IPO is an entirely fresh issue with no offer‑for‑sale component and the company is planning to use the net proceeds for several growth‑oriented priorities. About ₹9.50 crore will be used for working‑capital requirements so the business can meet rising demand and keep its operating cycle smooth. Another ₹4.40 crore is set aside for business expansion, specifically for capital expenditure on new plant and machinery to increase production capacity. Roughly ₹1.32 crore will be applied toward partially prepaying term loans, strengthening the balance sheet and cutting the interest costs. Any remaining funds will be used for general corporate purposes to support ongoing operations and future initiatives.
Founded in 2003 by textile industry veteran Anupam Kansal, Rachit Prints has established itself as a reliable manufacturer of knitted and printed fabrics, primarily serving the mattress industry. The company operates on a business-to-business (B2B) model and maintains supply agreements with leading mattress brands including Sheela Foam Ltd (maker of Sleepwell mattresses), Kurlon Enterprise Ltd and Prime Comfort Products.
Rachit Prints’ product portfolio is integral to the mattress manufacturing value chain, providing essential materials for some of the most recognized brands in the sector. The company’s focus on innovation, quality and customer satisfaction has enabled it to build long-term relationships with industry leaders.
Rachit Prints has demonstrated consistent financial growth. In the first quarter of fiscal 2025, the company reported revenues of ₹9.8 crore and a profit after tax (PAT) of ₹1.03 crore. For the full fiscal year 2024, Rachit Prints posted revenues of ₹37.08 crore and a PAT of ₹2.03 crore, underscoring its profitability and operational resilience.
This robust performance reflects the company’s ability to capitalize on the rising demand for quality mattress fabrics and its efficient management of resources.
Khambatta Securities has been appointed as the sole book-running lead manager for the IPO, while Maashitla Securities will serve as the registrar. Rachit Prints filed its Draft Red Herring Prospectus (DRHP) with BSE SME in December 2024 and is currently preparing to submit its Red Herring Prospectus (RHP) with updated financials as required by regulatory procedures.
The company’s shares will be listed on the BSE SME platform, providing access to a wider investor base and enhancing its corporate profile.
At the helm of Rachit Prints is Anupam Kansal, whose three decades of experience in the textile industry have shaped the company’s strategic direction and growth path. Under his leadership, Rachit Prints has prioritized technological upgrades, capacity expansion and customer-centric business practices.
The IPO marks an important milestone for Rachit Prints as it seeks to leverage fresh capital for scaling operations, expanding its manufacturing capabilities and deepening its presence in the competitive mattress fabric segment. With established industry partnerships, a track record of profitability and a clear growth strategy, Rachit Prints is well-positioned to capitalize on new opportunities in India’s evolving textile landscape.
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