Ahmedabad based company, Nandan Terry Limited, belonging to Chiripal group, a textile conglomerate, filed a draft offer document with the regulators.

The Company is engaged in the manufacturing of terry towels and toweling products in Gujarat. The Company plans to raise the funding from IPO for debt reduction and meet its long-term working capital requirements. This offer document does not include any offer for sale.

Chiripal Group enjoys a presence in industries such as textiles, education, real estate, packaging, and chemicals and offers a wide spectrum of manufacturing, contract manufacturing, trading, distribution, and service-related activities in sectors like textiles, education, packaging, infrastructure, petrochemical, etc. for more than 3 decades.

Book Running Lead Managers to the issue are Holani Consultants Pvt. Ltd. and BOI Merchant Bankers Ltd. Registrar to the Issue is Link Intime India Pvt. Ltd.

Ronak Chiripal, CEO of Nandan Terry said ‘It’s another milestone in the journey and we are keenly looking forward to it.’