Davin Sons Retail Ltd to raise Rs 8.78 crore from IPO

Davin Sons Retail Ltd, a garment manufacturer has opened its Initial Public Offering (IPO) to raise Rs 8.78 crore ($1 million) through fresh issue of 15,96,000 equity shares to be listed on the Bombay Stock Exchange.

The issue for public bidding opened on January 2, 2025, and will close on January 6, 2025.

The net proceeds from the IPO will be used to finance capital expenditures for the purchase of warehouse and expansion.

Commenting on the launch, Mohit Arora, chairman managing director of Davin Sons in a statement said, “The launch of our Initial Public Offering marks a significant milestone in the journey of Davin Sons Retail Limited. Over the years, we have built a 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 us to further strengthen our operations by investing in a new warehouse, enhancing our working capital, and expanding into new geographical markets. We are excited about the growth opportunities ahead,” he added.

Davin Sons Retail Limited has a strong presence in both garment manufacturing and FMCG distribution in India.