Kottayam-based notebook maker Carnet Books gears up for ₹13cr IPO

Kottayam-based Carnet Books, which operates in the notebook and educational printing sector, is planning to raise ₹13.27 crore through an initial public offering (IPO) on the BSE SME platform.

The company, founded in 2020 under the leadership of Alex Kuruvilla, has filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for the proposed issue.

Carnet Books plans to offer 29.29 lakh shares at ₹45 each, with the IPO expected to raise ₹13.27 crore. The company has not yet announced the dates for the public issue.

Headquartered in Kottayam, the company has its main printing complex at Kuravilangad. It produces customised notebooks, textbooks, laboratory practical record books and lab manuals for institutions in India and overseas.

The company currently has a presence in the Gulf countries and the United States and caters to institutional clients seeking customised printed educational products.

The funds raised through the IPO will be primarily used to meet the company's working capital requirements, said Alex Kuruvilla.