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The scrip was listed at Rs 119, a discount of 15% compared with the initial public offer (IPO) price. The stock is currently down 4% over its listing price. The counter hit a high of Rs 119 and a low of Rs 113.05. About 9.20 lakh shares of the company changed hands at the counter. Cedaar Textile's IPO was subscribed 11.24 times. The issue opened for bidding on 30 June 2025 and it closed on 2 July 2025. The price band of the IPO is between Rs 130 to 140 per share. The IPO comprised fresh issue of 43,50,000 shares. The promoter and promoter shareholding will dilute to 68.66% from 100% pre-IPO. The company intends to utilize the net proceeds for installation of grid-tied solar PV rooftop system for captive evacuation, modernization of the machines, to meet working capital requirements, issue expenses and for general corporate purposes. Ahead of the IPO, Cedaar Textile on 27 June 2025, raised Rs 95.20 lakh from anchor investors. The board allotted 6.80 lakh shares at Rs 170 per share to 4 anchor investors. Cedaar Textile is engaged in the manufacturing of quality melange yarn for use in household textiles, woven goods, and hosiery. Cedaar Textiles caters to top-tier clients both in domestic and international markets, supplying high-quality garments to renowned fashion brands. The company's production process begins with the procurement of raw materials, which are carefully processed by blending various fibers such as cotton, polyester, viscose, and acrylic. As of 01 June 2025, the company had 583 employees. The company recorded revenue from operations of Rs 112.02 crore and a net profit of Rs 7.06 crore for the period ended 31 December 2024. Powered by Capital Market - Live News |