T.C. Terrytex Limited

Key points (32)

• The Initial Public Offering involves a fresh issue of up to [●] equity shares and an offer for sale of up to 67,50,000 equity shares. p.1
• The offer aggregates up to ₹ 1,700 MILLIONS for the fresh issue and the offer for sale. p.1
• Revisions have been made to sections including “Definitions and Abbreviations”, “Risk Factors”, “Capital Structure”, and “Promoter and Promoter Group” in the Draft Red Herring Prospectus. p.1
• The changes conveyed by the Addendum cum Corrigendum supplement and update the information in the Draft Red Herring Prospectus as applicable. p.2
• The Addendum cum Corrigendum has been approved and adopted by the Board in a meeting dated August 21, 2026. p.4
• The Equity Shares are not to be registered under the U.S. Securities Act or any state securities laws in the United States. p.5
• Two of the promoters lack prior experience in the specific business activities currently undertaken by the Company, which may impact their ability to provide industry-specific strategic guidance. p.6
• Mr. Shravan Sethi holds a bachelor’s degree in Business Administration from Amity University and has not been engaged in business activities or operational roles in the industry in which the Company operates. p.6p.8
• The aggregate shareholding of the Promoters and Promoter Group amounts to 90.70% of the post-offer paid-up Equity Share capital. p.7
• Mr. Akhil Satia is the Promoter and Managing Director of the Company. p.8
• Ms. Aishwaria Sethi holds a bachelor’s degree in Multimedia from Guru Nanak Dev University and has not had any prior employment history. p.9
• Mr. Akhil Satia has given residential building and residential plot as collateral security towards financial facilities availed by the Company from some of its lenders. p.10
• Individual Promoters and certain members of the Promoter Group have extended personal guarantees in favour of the lenders in connection with the borrowings availed by the Company. p.10
• No payment of amounts or benefits was made to the promoters or promoter group during the two years preceding the date of this Draft Red Herring Prospectus. p.10
• The promoter is not a promoter of any other company debarred from accessing the capital market by SEBI. p.11
• The promoter has not been identified as wilful defaulters or fraudulent borrowers under the SEBI ICDR Regulations. p.11
• The promoter group company, Satia Synthetics Limited, had defaulted on loan obligations, which were resolved through a one-time settlement, but future adverse developments could affect the business. p.11p.12
• The promoter and managing director, along with another member of the promoter group, had extended personal guarantees in connection with the loan defaults. p.11
• The promoter and members of the promoter group are in compliance with the Companies (Significant Beneficial Ownership) Rules, 2018, as applicable. p.11
• None of the promoters or the promoter group have been refused listing of securities by any Stock Exchange in India or abroad. p.11
• No promoters have disassociated themselves from any other company or firms in the three years preceding the date of the DRHP. p.11
• Promoters have not been declared as Wilful Defaulters or Fraudulent Borrowers by any bank or financial institution. p.11
• Promoters and members of the promoter group have not committed violations of securities laws in the past, nor are any proceedings pending against them. p.11
• Promoters are not interested in any other entity that holds intellectual property rights used by the Company. p.11
• No sum has been paid or agreed to be paid to the promoters or entities in which the promoters are interested to induce them for services. p.11
• Certifies compliance with relevant provisions of the Companies Act, 2013 and related rules/guidelines. p.16p.17p.18+2
• Certifies that no statement in the Draft Red Herring Prospectus is contrary to provisions of various Acts and rules. p.16p.17p.18+2
• Declaration made by Mr. Jagjit Singh, Non-Executive Independent Director. p.16
• Declaration made by Saurabh Kansal, Independent Director. p.17
• Declaration made by Mr. Tanuj Gaba, Independent Director. p.18
• Declaration made by Mr. Rajiv Chopra, Chief Financial Officer. p.19
• Declaration made by Ravinder Kumar, Selling shareholder for Ashis Living Private Limited. p.20