Gurugram-based cotton and linen fabric manufacturer Jain Cord has secured Rs. 200 crore (US $ 22.04 million) in its first institutional funding round, raising Series A capital from the Lohia Family Office, which operates under Indorama Capital Holdings Pte. Ltd.
According to a regulatory filing with the Registrar of Companies (RoC), the board of Jain Cord Industries has issued 3,179,550 compulsorily convertible preference shares and 100 equity shares at an issue price of Rs. 629 (US $ 6.93) per share, taking the total proceeds from the round to Rs. 200 crore (US $ 22.04 million).
Based on estimates by Entrackr, the transaction values Jain Cord Industries at approximately Rs. 829 crore (US $ 94.75 million) on a post-money basis.
The company said the fresh capital will be deployed towards working capital requirements, repayment of unsecured borrowings, capital expenditure and business expansion, in addition to meeting general operating expenses, as outlined in the RoC filing.
Founded in 1960, Jain Cord Industries is a vertically integrated textile manufacturer involved in the production and processing of fabrics and garments. The company offers end-to-end capabilities spanning weaving, knitting, dyeing, finishing and garment manufacturing.
Jain Cord is best known for its woven fabric portfolio, including corduroy and velveteen, and supplies a range of domestic and international apparel brands. It operates manufacturing facilities in Gurugram and Kosi near Mathura, with large-scale fabric and garment production capacity.
Following the allotment, Indorama Capital Holdings Pte. Ltd will hold a 24.13% stake in Jain Cord Industries, while the promoters’ shareholding will dilute to 75.87% from 100% on a fully diluted basis.
Jain Cord Industries reported revenue of Rs. 783.33 crore (US $ 86.34 million) in FY25, up from Rs. 537.37 crore (US $ 59.23 million) in FY24. Net profit increased to Rs. 19.97 crore (US $ 2.20 million) in FY25, compared with Rs. 12.52 crore (US $ 1.38 million) in the previous financial year.
