The garment manufacturer Davin Sons Retail Ltd. has launched its Initial Public Offering (IPO) in order to collect US $ 1 million (Rs. 8.78 crore) by issuing 15,96,000 new equity shares that would be listed on the Bombay Stock Exchange.
Public bidding for the issue began on 2nd January 2025, and will end on 6th January 2025. The IPO’s net revenues will be utilised to fund expansion and warehouse acquisition capital expenditures.
In a statement, Mohit Arora, chairman and managing director of Davin Sons, commented on the launch, saying, “Deavin Sons Retail Limited has reached a major milestone with the launch of its Initial Public Offering. By producing high-quality goods and earning the trust of customers in a variety of geographical areas, we have established a solid foundation in the FMCG distribution and clothing manufacturing industries throughout the years.
By improving our working capital, entering new geographic areas, and purchasing a new warehouse, the money acquired from this IPO will allow us to further solidify our operations. The growth prospects that lie ahead excite us,” he continued. Davin Sons Retail Limited is a major player in India’s FMCG distribution and clothing manufacturing industries.
