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Siddhi Cotspin IPO
The Siddhi Cotspin IPO is a book-built SME IPO issue, under which investors will be able to subscribe to the IPO in the price band of ₹102 to ₹108 per equity share, with a face value of ₹10 per equity share, in minimum multiples of 1200 equity shares - approximately ₹1,29,600 at the upper band of the price band. The open offer size is approximately ₹69.85 crore, consisting of a fresh issue of approximately ₹49.90 crore and an offer for sale of approximately ₹16.46 crore. The allotment date is September 24. The shares will be listed on NSE Emerge on September 26, 2025.
Company Background
Siddhi Cotspin Limited was incorporated in 2017 and is headquartered in Ahmedabad, Gujarat, India. The Company is engaged in the business of manufacturing and selling cotton yarn and is also positioned to supply value-added specialty yarns such as compact carded yarn, combed yarn for hosiery and weaving, slub yarn, and core spun yarn. The Company operates a greenfield spinning unit at Dholka, with an installed capacity of approximately 29,376 spindles, producing over 9 lakh kgs of cotton yarn each year, mainly serving the denim industry. The Company supplies its products to reputed clients in India and indirectly exports to many other countries, such as Israel, Iran, the UAE, Bangladesh, etc., through merchant exporters.
Operations & Product Range
Facility & Production
The Siddhi Cotspin IPO has a great modern manufacturing facility located at Dholka, Ahmedabad, with European machines that produce quality cotton yarn. Furthermore, it has also diversified into weaving under the name ‘Siddhi Weaving’, which produces indigo-dyed denim along with knitting yarns. The company enforces strict quality control and sustainability practices that aid in efficient, consistent yarn products for domestic and foreign markets.
Brands & Market Presence
Siddhi Cotspin yarn products are sold under the name ‘SHIVTEX’ for high-end rotor-spun yarns, and its weaving division produces indigo-dyed denim fabrics. The company has established a foothold in some of the major textile centers in Gujarat and has established an export base across several countries. The company has a loyal clientele in domestic markets, accompanied by repeated orders from denim manufacturers and textile mills.
Revenue Channels
Revenue is derived from manufacturing and selling cotton yarn products, including value-added and specialty yarn products intended for the hosiery, weaving and denim segments.
Income is also generated from the weaving and processing of products made from denim and knitted yarn.
Additional revenue is generated from trading raw cotton, cotton tail, fabrics, and yarn.
Revenue from overseas sources and additional market share is generated from export sales conducted via merchant exporters.
Management & Shareholding
Promoters & Shareholding
The promoters of Siddhi Cotspin IPO are Mr. Navin Saraogi and Mr. Sanjay Bindal, both of whom have over 20 years of experience in textile manufacturing. The IPO, which includes a fresh issue and an offer for sale, sees the promoters retaining substantial shareholding post-listing to support sustainable governance and management continuity.
Board Members
The board of Siddhi Cotspin IPO is composed of experienced professionals in both textile and finance, and they will oversee governance, compliance, and direction of the company in preparation for the public capital markets. Kfin Technologies is the registrar, and the IPO is conducted by reputable book-running lead managers and in compliance with regulatory standards for SME IPOs.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Siddhi Cotspin IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Siddhi Cotspin IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 19, 2025 to September 23, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹102 to ₹108 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 64,68,000 shares (aggregating up to ₹69.85 Cr) |
| Reserved for Market Maker | 3,24,000 shares (aggregating up to ₹3.50 Cr) Jevin Stock Broker Private Limited |
| Fresh Issue (Ex Market Maker) | 46,20,000 shares (aggregating up to ₹49.90 Cr) |
| Offer for Sale | 15,24,000 shares of ₹10 (aggregating up to ₹16.46 Cr) |
| Net Offered to Public | 61,44,000 shares (aggregating up to ₹66.36 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,94,62,491 shares |
| Share Holding Post Issue | 2,44,06,491 shares |
Siddhi Cotspin IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | 19 Sep 2025 |
| IPO Close Date | Tue, Sep 23, 2025 |
| Tentative Allotment | Wed, Sep 24, 2025 |
| Initiation of Refunds | Thu, Sep 25, 2025 |
| Credit of Shares to Demat | Thu, Sep 25, 2025 |
| Tentative Listing Date | Fri, Sep 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 23, 2025 |
Siddhi Cotspin IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,59,200 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,59,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,88,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,07,200 |
| B-HNI (Min) | 8 | 9,600 | ₹10,36,800 |
Siddhi Cotspin IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 85.57% |
| Promoter Holding Post Issue | 65.56% |
Competitive Strength:
- Established in the cotton yarn space, which has substantial manufacturing capabilities and plans to move into more value-added yarns.
- An integrated business model with diversification into weaving and knitting solutions targeted to denim and textile sector manufacturers.
- Profitable revenue growth, from a ₹199.88 crore FY23 revenue base, to an estimated revenue of ₹724.66 crore in FY25, with improving operating leverage.
- Well-established export channel and strong supply base in multiple Indian states to provide quality and consistent raw materials.
Siddhi Cotspin IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 182.83 | 724.66 | 13.08 | 79.44 | 67.11 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 181 | 581 | 12 | 66 | 91 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 184.13 | 199.88 | 6.02 | 54.18 | 113.78 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 17.95% |
| ROCE | 14.88% |
| Debt/Equity | 0.84 |
| RoNW | 16.47% |
| PAT Margin | 1.81% |
| EBITDA Margin | 4.54% |
| Price to Book Value | 2.65 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.72 | 5 |
| P/E (x) | 16.06 | 20 |
Objectives of Ganesh Consumer Products IPO
- Enhance working capital to support product expansion and geographic reach.
- Fund repayment of borrowings to optimise financial costs.
- Support with marketing and promotional efforts to enhance brand image.
- Invest in technology platforms, which can increase supply chain and operational efficiencies.
Conclusion
Ganesh Consumer Products IPO presents a compelling opportunity to invest in a well-established FMCG company with a strong heritage and leadership in the packaged flour market in eastern India. With a broad product portfolio and continued investment in manufacturing and distribution capabilities, the company is well-positioned for growth. The timely IPO is a unique opportunity for investors to participate in the brand, which has already been well established in Indian households and yet offers a huge growth opportunity.
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Frequently asked Questions (FAQs )
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What are the Siddhi Cotspin IPO dates?
The IPO opens on September 19, 2025, and closes on September 23, 2025.
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Where will the shares be listed?
The shares are expected to be listed on NSE Emerge on September 26, 2025.
-
What is the Siddhi Cotspin IPO size and structure?
The issue size is approx ₹69.85 crore. The issue comprises a fresh issue of ₹49.90 crore and an offer for sale of ₹16.46 crore.
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What products does the company manufacture?
Siddhi Cotspin manufactures cotton yarns, including value-added and specialty yarns, but also manufactures denim fabrics.
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