- The company plans to float an IPO to fund its strategic expansion plans and enhance manufacturing capabilities
- Meerut-headquartered company manufactures quality speciality knitted and printed fabric for the mattress industry
- RPL clocked Rs. 9.8 crore in revenue from operations with a profit (PAT) of Rs. 1.02 crore in the first quarter of the current financial year ended June 2024, compared to Rs. 37.08 crore in revenue from operations and a profit of Rs. 2.02 crore in FY24
- Appoints Khambatta Securities Limited as the bookrunning lead manager
Rachit Prints Limited (“RPL” or “The Company”), a speciality fabric manufacturer for the mattress industry, today announced its ambitious plans to achieve Rs. 100croresin revenues by the financial year 2027. In pursuit of expanding its operations and manufacturing capabilities, the Meerut-headquartered company is planning to raise funds through an initial public offering (IPO).The company has appointed Khambatta Securities Limited as the bookrunning lead manager to the offer.
The company manufactures speciality fabrics tailored for mattresses, such as knitted fabric, printed fabric, warp knit, pillow fabric, blinding tape and also engaged in trading of comforters and bedsheets. Specialised in knitted fabrics, printed fabrics, and warp knit, the company sources yarn and chemicals to produce specialized textiles. RPL is specialized in converting yarn into fabric through knitting of fabrics and printing.
RPL follows a business to business (B2B) model for its products. The company has executed Memorandum of Understanding with Sheela Foam Limited (Sleepwell) and Kurlon Enterprise in February 2024 to supply 11,00,000 meters of printed and 8,00,000 meters of Circular knit speciality fabric. The company also supplies its products to Prime Comfort Products Private Limited. It operates a manufacturing facility spread over an area of 30,625 sq ft. Located at Meerut, Uttar Pradesh, the unit is well equipped with Indian, German, Turkish, and Chinese machinery.
Speaking about the company’s plans, Mr. Anupam Kansal, Promoter & Managing Director, Rachit Prints Limited, said, “Our long-term relationships with our clients are testament to our commitment to deliver quality product and timely service. We also employ advance knitting technology, which enables us to deliver customized requirements of our customers. Our investments in technology not only cater to growing demand, but also help our functional efficiencies. As we set out on a journey towards expanding our operations and plant capacities, we are aspiring to raise funds through an IPO and we are confident of achieving a revenue mark of Rs. 100 crores by FY2027.”
Founded by Mr. Anupam Kansal in 2003, the company is focused on producing quality products to increase customer satisfaction and develop a positive brand image in the industry. With over three decades of experience in textiles industry, Mr Kansal is actively involved in strategic decision-making for the company, corporate and administrative affairs, financial operations, expansion activities, and business development. The company is located in the state of Uttar Pradesh and enjoys the benefits of subsidies under the “Amended Technology Upgradation Fund Scheme” (ATUFS) provided by the Ministry of Textiles, Government of India, towards capital investment subsidy.
RPL has recorded Rs. 9.8 crore in revenue from operations with a profit (PAT) of Rs. 1.02 crore in the first quarter of the current financial year ended June 2024, compared to Rs. 37.08 crore in revenue from operations and a profit of Rs. 2.02 crore in FY24.
