A garment manufacturer, Davin Sons Retail has launched an IPO to raise funds worth $1million by issuing 1596,000 equity shares to be listed on the Bombay Stock Exchange.
The company will use net proceeds from the IPO to finance capital expenditures for the purchase of warehouse and expansion.
Mohit Arora, Chairman and Managing Director, Davin Sons, says, the launch of its IPO marks a significant milestone in the company’s journey. Over the years, the garment maker has built resilient foundation in garment manufacturing and FMCG distribution, delivering quality products and building customer trust across diverse regions.”
The funds raised through this IPO will enable the company to further strengthen its operations by investing in a new warehouse, enhancing its working capital, and expanding into new geographical markets, he adds. The company has a strong presence in both garment manufacturing and FMCG distribution in India.
