Madhur Knit Crafts, a textile manufacturer, will launch an initial public offering (IPO) on August 24 to raise ₹53.28 crore. The issue is entirely a fresh public offering of 53.28 lakh equity shares and is scheduled to close on August 27 for retail and other public subscriptions. The company plans to list the shares on the NSE Emerge platform, with the price band set at ₹95–100 per equity share.
Both outlets report that the IPO proceeds are earmarked for specific corporate purposes. Madhur Knit Crafts intends to use ₹20.85 crore for prepayment or repayment of certain outstanding borrowings and ₹15.92 crore for working capital requirements. Additional funding is also described in one report, including ₹3.68 crore for the purchase of solar panels and the remainder for general corporate use and offer-related expenses. SKI Capital Services is identified as the sole book-running lead manager for the issue.
Overall, the coverage aligns on key IPO logistics—opening date, closing date, the size of the issue, and the price band—while differing on the level of detail provided about the full breakdown of proposed use of proceeds.
