Cedaar Textile IPO, June 30 -- The initial public offering (IPO) of Cedaar Textile opened for subscription on Monday, June 30, and will close on Wednesday, July 2.

The SME IPO, which is looking to raise Rs.60.90 crore, was off to a slow start despite a decent trend in the grey market. Cedaar Textile IPO price band has been set at Rs.130 to Rs.140 per share.

The minimum lot size for an application is 1,000 shares, requiring an investment of at least Rs.1,30,000 by the retail investors.

The yarn manufacturer plans to use the funds raised via IPO for various purposes. It has earmarked Rs.8 crore for the installation of grid-tied solar PV rooftop system, Rs.17 crore for modernisation of machines, Rs.24.90 crore for meeting working capital ...