Business News | Cedaar Textile Secures ₹9.52 Crore from Anchor Investors Ahead of IPO

VMPL

Mumbai (Maharashtra) [India], June 28: Cedaar Textile Limited has successfully completed its anchor book allocation, raising ₹9.52 crore ahead of its upcoming Initial Public Offering (IPO). The anchor book received an enthusiastic response from marquee institutional investors, underscoring strong market confidence in the company's fundamentals and future outlook.

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A total of 6.8 lakh equity shares were allocated to esteemed anchor institutions at the upper end of the price band, ₹140 per share. Notable participants in the anchor round include:

* Velcoe Opportunities Fund - 1,43,000 shares (₹2.00 crore)

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* SB Opportunities Fund II - 2,15,000 shares (₹3.01 crore)

* Shine Star Build Cap Pvt. Ltd. - 1,43,000 shares (₹2.00 crore)

* Saint Capital Fund - 1,79,000 shares (₹2.51 crore)

The IPO of Cedaar Textile is scheduled to open on June 30, 2025, and will close on July 2, 2025. The company has set a price band of ₹130 to ₹140 per share, with an overall issue size aggregating up to ₹60.90 crore at the upper end. The minimum lot size for application is 1,000 shares.

The successful anchor subscription is expected to bolster investor sentiment ahead of the public issue. Cedaar Textile, known for its expertise in the textile sector, plans to utilize the IPO proceeds to fuel its growth and expansion initiatives.

Market participants are closely watching the IPO, given the strong institutional interest demonstrated in the anchor round.

Investors are advised to carefully review the Red Herring Prospectus (RHP) filed with the NSE for detailed information, including financials and risk factors, before making investment decisions.

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