Harikanta Overseas Ltd IPO

About Harikanta Overseas Ltd

Our Company was originally incorporated as Harikanta Overseas Private Limited, a Private Limited Company under the provisions of the Companies Act, 2013, Pursuant to a certificate of incorporation dated October 22, 2018 Issued by the Registrar of Companies, Central Registration Centre. Subsequently, pursuant to a Special Resolution of our Shareholders passed in the Extra-Ordinary General Meeting held on January 27, 2025 our Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of our Company was changed to Harikanta Overseas Limited and a fresh Certificate was issued on February 22, 2025 by the Registrar of Companies, Central Registration Centre. The Corporate Identification Number of our Company is U17299GJ2018PLC104835.

India's textiles sector is one of the oldest industries in the Indian economy, dating back to several centuries. The industry is extremely varied, with hand-spun and hand-woven textiles sectors at one end of the spectrum, with the capital-intensive sophisticated mills sector at the other end. The fundamental strength of the textile industry in India is its strong production base of a wide range of fibre/yarns from natural fibres like cotton, jute, silk, and wool, to synthetic/man-made fibres like polyester, viscose, nylon and acrylic. The decentralised power looms/ hosiery and knitting sector form the largest component of the textiles sector. The close linkage of textiles industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles makes it unique in comparison to other industries in the country. India's textiles industry has a capacity to produce a wide variety of products suitable for different market segments, both within India and across the world. The organised retail apparel sector is projected to achieve revenue growth of 8-10% in FY25, driven by rising demand from a normal monsoon, easing inflation, and the festive and wedding seasons. The increasing preference for affordable, trendy fashion clothing that mimics high-fashion designs is expected to be the primary revenue driver. In order to attract private equity and employee more people, the government introduced various schemes such as the Scheme for Integrated Textile Parks (SITP), Technology Upgradation Fund Scheme (TUFS) and Mega Integrated Textile Region and Apparel (MITRA) Park scheme.

Our Company is engaged in the manufacturing of Synthetic textile fabrics. Our product portfolio includes Ikat fabrics, polyester garment fabrics, saree fabrics, dhupion fabrics, poly linen, and natural fiber. We primarily cater fabric to women's wear, producing fabrics for sarees, dress materials, and kurtas, while also offering fabrics for men's kurtas. Although our fabrics have multiple end uses, the majority of them are utilized in the manufacturing of different types of sarees.

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