SP Apparels has received SEBI’s approval for raising around Rs. 215 crores through an initial public offering (IPO).
Established in 1989, the company manufactures and exports knitted garments for infants and children. It also manufactures and retails menswear in India under the brand ‘Crocodile’.
Proceeds from the fresh issue will be utilised for repayment of debt, expansion and modernisation of the manufacturing facility at Salem and opening of new stores for the sale of ‘Crocodile’ products.
The funds raised will be also used for addition of balancing machineries for its existing dyeing unit at SIPCOT in Perundurai and other general corporate purposes.
The knitted garments for infants and children are manufactured at the company’s integrated facilities. Its core competencies lie in its clear understanding of the specifications of knitted garments in the infants and children category, the buying preferences of its customers and its ability to deliver products of consistently high quality. Its close relationship with the major customers has been one of the most significant factors for the company’s sustained growth.
SP Apparels sells the ‘Crocodile’ branded products through its sales and distribution network and third-party e-commerce platforms.
Milestone
2015 Execution of the Sub-Licensing Agreement with our Subsidiary, CPPL to manufacture, distribute and market products under the ‘Crocodile’ brand.
Incorporation of a wholly-owned subsidiary, SPUK in the United Kingdom.
2014 Investment by Euro Asia pursuant to the Investment Agreement.
2013 Amalgamation of Sri BalajiBakkiam Spinning Mills with our Company.
2008 Acquisition of the ‘Natalia’ brand pursuant to an agreement dated February 20, 2007. Amalgamation of S.P. TexFab Private Limited with our Company.
2007 Investment by NYLIM Jacob Ballas in our Company pursuant to the SSSA.Acquisition of majority shareholding in Crocodile Products Private Limited.
2006 Conversion of the partnership firm to our Company. Set-up first in-house printing facility at Avinashi.Commissioning of our own dyeing plant at SIPCOT, Perundurai.
2005 Set-up our flagship factory at Avinashi with full garment conversion process (from cutting to packing).
2004 Set-up first in-house embroidery facility at Thekkalur.
2003 Commissioning of the first wind energy generator.
2001 Set-up our own manufacturing facility at Neelambur.
1998 Started export operations as a partnership firm.