Mukesh Trends Life Style, engaged in the business of fabric processing, has filed draft papers with markets regulator Sebi for its proposed initial public offer.
The Ahmedabad-based company's IPO consists an issue of up to 1 crore equity shares of face value of Rs 10 each, according to the draft red herring prospectus (DRHP).
According to market sources, the IPO issue size will be approximately between Rs 70 and 90 crore.
The company proposes to utilise the net proceeds from the issue towards setting up of a manufacturing unit for knitted denim fabrics, funding the working capital requirement and general corporate purposes.
Pantomath Capital Advisors Pvt Ltd will manage the company's offer.
The shares of the company will be listed on the BSE and the NSE.
The company commenced its commercial production in 1990 and is engaged in the business of fabric processing, including bleaching, dyeing, printing and finishing of grey fabric to produce finished knitted and woven fabrics.
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