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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment or prepayment of debt
Repayment or prepayment of certain debt facilities incurred by the company.
Expansion and modernization of Valapady manufacturing facility
Expansion and modernization of the garment manufacturing facility situated at Valapady, Salem district, Tamil Nadu.
Opening of new Crocodile retail stores
Funding the establishment of new exclusive brand outlets for Crocodile products across India.
Addition of balancing machineries and general corporate purposes
Addition of balancing machineries for the existing dyeing unit at Perundurai and general corporate purposes.
No documents added yet.
(₹ in Crore)
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S.P. Apparels Limited is a leading Indian manufacturer and exporter of knitted garments for infants and children. Founded in 1989 by P. Sundararajan, the company operates an integrated garment manufacturing infrastructure headquartered in Avinashi, Tamil Nadu. It provides end-to-end garment manufacturing services, including spinning, knitting, dyeing, printing, embroidery, stitching, and packaging, primarily catering to international retailers and apparel brands. The company operates multiple manufacturing facilities across Tamil Nadu, supported by advanced automated machinery and stringent quality compliance standards. Beyond its core export manufacturing business, S.P. Apparels holds the exclusive sub-license for the manufacture, distribution, and retail sale of 'Crocodile' brand menswear products in India, establishing a growing retail footprint through exclusive brand outlets, multi-brand outlets, and large format stores. S.P. Apparels maintains strong long-term relationships with major global apparel retailers in the United Kingdom and Europe. Its backward-integrated production capabilities allow the firm to maintain strict control over manufacturing costs, operational efficiency, and delivery timelines.
S.P. Apparels Limited raised ₹71.74 crore from 7 anchor investors by allocating 26,76,685 equity shares at the upper price band of ₹268 per share ahead of its public issue.
Source: RHP • Analysis provided for informational purposes
Last Updated: 30 July 2026, 10:12 PM
Integrated manufacturing infrastructure
Comprehensive in-house facilities spanning spinning, dyeing, printing, and garmenting ensuring cost control and production efficiency.
Established international customer relationships
Long-standing supply partnerships with major global infantwear and childrenswear retailers in key European markets.
Dual business model with domestic brand rights
Scalable export manufacturing coupled with exclusive domestic retail sub-licensing rights for the Crocodile menswear brand.
High geographic and customer concentration
A substantial portion of export revenues depends on a limited number of UK and European retail clients.
Raw material price volatility
Fluctuations in the prices of raw cotton and yarn can impact operating profit margins.
Foreign exchange rate volatility
Significant exposure to export earnings subjects operating income to currency exchange rate fluctuations.
S.P. Apparels Limited
39-A, Extension Street, Kaikattipudur, Avinashi, Tirupur - 641654, Tamil Nadu, India
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