Working with clients like TESCO, Primark, and having the right to manufacture, distribute and market products under the ‘Crocodile’ brand in India, Tirupur-based SP Apparels has succeeded in getting clearance from SEBI (Securities and Exchanges Board of India) for its Rs 215-crore IPO (initial public offer).
It had filed its draft red herring prospectus (DRHP) with the regulatory body in December 2015. The company proposes to list its shares on BSE and NSE.
Established in 1989, the company currently has a full-time employee strength of 8,499 in its garments section. It mostly offers childrenswear. While it has a total outstanding debt of Rs 252 crore (as on November 30, 2015), it claimed that its revenue stood at Rs 129 crore as of Q1FY16. Its net profit during the same period was Rs 7.09 crore. It has exported approximately 29.15 million pieces of
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