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.