Sunday, December 20, 2009

Sumatex Ltd filed a DRHP with SEBI for IPO

Sumatex Limited, owned by Mr Sudeep Malu, is a textile engineering company established in January, 1998. Sumatex is the first Indian company who manufacture electronic controlled Computerized Pattern Maker (CPM) Ranging from 24 - 6000 hooks in different models for different means and purposes.

Sumatex is planning a public issue of 70,00,000 equity shares of Rs 10 each. The company has filed a DRHP (draft red herring prospectus) with SEBI (Securities & Exchange Board of India) on December 18, 2009.

Sumatex intends to spend the issue proceeds for Setting up of additional unit at Bhilwara for expansion plan, Setting up of Research and Development Centre, Meeting the Margin Money for Working Capital and for Issue related expenses.

For the year ended June 30, 2009, the company reported profit after tax of Rs 100.38 Lacs on total income of Rs 1853.04 Lacs and for the period ended October 2009, it has posted profit after tax of Rs 44.91 crore on total income of Rs 657.14 crore.

Ashika Capital Limited is the book running lead manager of the issue and Adroit Corporate Services Pvt. Ltd. is the registrar.

For more information about Sumatex IPO Prospectus please visit: