Esprit Stones IPO

Founded in 2016, Esprit Stones Limited manufactures engineered quartz and marble surfaces. As of March 2024, the Manufacturing Facility I is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq.ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz. The company manufactures unsaturated polyester resin, at the manufacturing facility three. The company has been certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications. As of May 31, 2024, the company had 295 employees in various departments.

The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue ("Net Proceeds") are proposed to be utilised for the following objects: Funding Working Capital requirement of the Company Investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings Investment in the Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement General Corporate Purpose

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