Qualiance International Limited successfully garnered ₹45.11 crore through its initial public offering (IPO), issuing 35,52,000 fresh equity shares. The legal advisory for this IPO was provided by Legacy Law Offices, which also guided the book-running lead manager, Hem Securities Private Limited, throughout the process.
The transaction was spearheaded by Naman Anand, counsel at Legacy Law Offices, with vital assistance from associates Meghna Shukla and Samiksha Gawali. Strategic guidance was offered by Partner Surbhi Narang, ensuring a smooth and efficient execution of the deal.
Qualiance International is renowned for its expertise in the design, engineering, manufacturing, and export of performance garments. Their client base spans institutional, governmental, and brand clients across North America and Europe, with the Government of Switzerland being one of their prominent clients.
The IPO was met with significant enthusiasm, resulting in a 77% gain on its listing. This remarkable achievement positions it as the 10th most successful Small and Medium Enterprise (SME) IPO this year by listing gains. Additionally, it ranks as the 2nd most successful IPO in the textile sector among SME offerings in 2023.
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