Rachit Prints receives in-principle approval from BSE
Meerut-based specialty fabric manufacturer plans fresh issue of 13.08 lakh equity shares to fuel growth, working capital, and expansion; plans to raise INR 19.50-crore
18 Jun 2025 | 756 Views | By Rahul Kumar
Rachit Prints (RPL), a leading 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 INR 10 each, aiming to raise approximately INR 19.50-crore through the book-building route. The net proceeds will be utilised with INR 9.50-crore allocated for working capital requirements, INR 4.40-crore for business expansion (including capital expenditure for plant and machinery), INR 1.32-crore for partial prepayment of term loans, and the remaining funds for general corporate purposes.
Headquartered in Meerut, Uttar Pradesh, Rachit Prints specialises in manufacturing knitted fabric, printed fabric, warp knit, pillow fabric, blinding tape, and trades in comforters and bedsheets. The company sources yarn and chemicals to produce high-performance textiles, catering primarily to the mattress industry under a B2B model.
The company has secured long-term supply agreements with Sheela Foam (Sleepwell) and Kurlon Enterprise (via an MoU signed in February 2024 for 19 lakh meters of fabric) and also supplies to Prime Comfort Products.
Its 30,625-sqft manufacturing facility in Meerut is equipped with advanced machinery from India, Germany, Turkey, and China, and benefits from government subsidies under the Amended Technology Upgradation Fund Scheme (ATUFS).
Founded in 2003 by Anupam Kansal, a textile industry veteran with over three decades of experience, Rachit Prints is focused on innovation, quality, and customer satisfaction. Kansal oversees strategic decision-making, business development, and expansion initiatives.
The company reported INR 9.8-crore in revenue from operations with a Profit After Tax (PAT) of INR 1.03-crore in Q1 FY25. The company reported INR 37.08-crore in revenue and a PAT of INR 2.03-crore in FY24.