Rachit Prints gets in-principle nod for IPO

Rachit Prints (RPL), a manufacturer of high-quality specialty knitted and printed fabrics for the mattress industry, has announced that it has received in-principle approval from the BSE SME Exchange for its initial public offering ( IPO ). The company had filed its Draft Red Herring Prospectus (DRHP) with BSE SME in December 2024 and is now in the process of submitting the Red Herring Prospectus (RHP) with updated financials. The IPO comprises a fresh issue of up to 13,08,000 equity shares with a face value of ₹10 each, aiming to raise approximately ₹19.50 crore through the book-building route. The net proceeds will be utilized with ₹9.50 crore allocated for working capital requirements, ₹4.40 crore for business expansion (including capital expenditure for plant and machinery), ₹1.32 crore for partial prepayment of term loans, and the remaining funds for general corporate purposes. Headquartered in Meerut, Uttar Pradesh, Rachit Prints specializes in manufacturing kn...