Sahaj Fashions, a fabric company, made its IPO debut on the NSE SME platform today, although the initial trading showed a modest 3% listing gain. Retail investors, who heavily subscribed to the IPO, await further price movements.
Sahaj Fashions’ IPO Debut Awaits Further Price Dynamics
Sahaj Fashions conducted a Rs 13.96 crore IPO between August 25-29, with substantial participation from retail investors who oversubscribed their reserved portion by 11.71 times. The overall subscription stood at 3.78 times. The IPO included the issuance of 44.76 lakh new shares and 1.76 lakh shares under the Offer for Sale (OFS). The funds raised from fresh shares will cater to working capital requirements, debt repayment, general corporate purposes, and associated expenses.
Sahaj Fashions specializes in manufacturing fabrics for apparel, home furnishing, and industrial use, with its manufacturing facility located in Ajmer. The company’s financial performance has seen a continuous upswing, with net profit increasing from Rs 27.19 lakh in FY 2020 to Rs 2.89 crore in FY 2023.
