Mukesh Trends Lifestyle IPO gets SEBI Nod

Mukesh Trends Lifestyle Ltd, a leading textile manufacturer primarily engaged in the business of fabric manufacturing and processing, received SEBIs approval vide their observation letter issued on Feb 14, 2020. The company had filed its DRHP with SEBI on September 27, 2019.

MTLL commenced its commercial production in 1990 with an installed capacity of 5 million meters per annum for the production of woven fabrics. With regular modernization of machinery, technology procession and subsequent marketing network and increase in demand of knitted fabrics; the Company successfully diversified its manufacturing business of knitted fabrics. In April 2016, MTLL diversified their manufacturing facilities to manufacture knitted fabrics by starting a separate 132 commercial division for processing and printing knitted fabrics in April 2016 with an installed capacity of 3,600 MT per annum.

The Companies revenue from Operations, EBITA and PAT between FY17-19 grew at a CAGR of 5.60%, 41.66%, and 116.18% respectively. Its income from exports grew at a CAGR of 366.80% from Rs. 5.01 mn in FY17 to Rs. 109.17 in FY19.

The Company seeks an issue of up to 10,000,000 equity shares of face value of Rs. 10/- each according to the DRHP filed with SEBI. As per the market sources, the IPO issue size will be approximately between Rs. 75 to 90 crores.

The BRLM to this issue is Pantomath Capital Advisors Private Limited.

Source : Equity Bulls

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