September 17, 2025

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Siddhi Cotspin Dates, Price, Lot Size & Review

Siddhi Cotspin IPO will open for subscription on 19 September 2025 and close on 23 September 2025, with allotment expected on 24 September 2025 and tentative listing on 26 September 2025 on NSE SME. The issue size is Rs. 69.85 crore, comprising a fresh issue of 0.49 crore shares worth Rs. 53.40 crore and an Offer For Sale of 0.15 crore shares worth Rs. 16.46 crore. The price band is fixed at Rs. 102-108 per share, with a lot size of 1,200 shares. At the upper band, retail investors will need Rs. 2,59,200 (2,400 shares) minimum, while HNIs must apply for at least 3 lots (3,600 shares), totalling Rs. 3,88,800. Swastika Investmart Ltd. is the Book Running Lead Manager; Kfin Technologies Ltd. is Registrar; Jevin Stock Broker Pvt. Ltd. is the Market Maker.

🕗 Last Update: 17 September 2025, 6.00 AM

Table of Contents

Siddhi Cotspin IPO Key Dates

Anchor Investor Subscription
IPO opens on	19 Sept. 2025
IPO Closes on	23 Sept. 2025
Allotment on	24 Sept, 2025
Credit of shares on	25 Sept. 2025
Tentative Listing on	26 Sept. 2025

Siddhi Cotspin IPO Concise Verdict

Siddhi Cotspin Ltd., engaged in manufacturing and selling cotton and value-added specialty yarns, has shown strong revenue growth with turnover rising from Rs. 199.88 crore (FY23) to Rs. 724.66 crore (FY25). Profits have grown steadily (PAT Rs. 13.08 crore in FY25 vs Rs. 6.02 crore in FY23), though EBITDA margins have declined (from 12.56% in FY23 to 4.54% in FY25). Debt has reduced from Rs. 113.78 crore (FY23) to Rs. 67.11 crore (FY25), indicating improving leverage. The company has scale, wide product basket and sustainable practices, but thin margins remain a concern.

Final Subscription Tally

Size Rs. Crore
QIB	NII x	RII x	Total x	Applications

Subscription Review:

About Siddhi Cotspin

Siddhi Cotspin Ltd., incorporated in 2015, is engaged in the manufacturing and sale of cotton yarns, including a wide range of value-added and specialty yarns. Its product portfolio includes Compact Carded & Combed Hosiery, Compact Weaving Yarns, Eli Yarns (KW & CW), Slub & Siro Slub Yarns, Lycra-Core Spin (Spandex) Yarns, and TFO Double Yarn, which adds additional strength and durability.

The company supplies its yarns to textile manufacturers, garment exporters, and distributors, focusing on consistent quality, reliability, and timely delivery. Over the years, it has built strong, long-term customer relationships in the textile value chain.

Manufacturing Facility

Located at Dholi, Ahmedabad, Gujarat.
Installed capacity of 29,376 spindles.
Annual production capacity: ~90.12 lakh kgs of cotton yarn and ~270.36 lakh kgs of value-added yarns.
Equipped with advanced automated machinery and supported by a skilled technical team ensuring strict quality control at every stage of production.
The company follows sustainable practices including energy conservation, waste minimisation, and reduced environmental impact.

Siddhi Cotspin IPO Details

Sector: Agritech Solution provider
IPO opens on	19 September 2025
IPO closes on	23 September 2025
Issue Type	Book Built Issue IPO
Issue Size	64,68,000 Shares / Rs 69.85 Crore
* Fresh Issue	–
* Offer for Sale –	–
Market Maker Portion	3,24,000 Shares
Net offer to Public	61,44,000 Shares Rs. 66.36 Crores
Face Value per share	Rs. 10
Price Band	Rs. 102-108
Employee discount	Rs. 0 per share
Retail Lot Size	1200 Shares
Listing will at	NSE SME

How shares are being offered

Investor Category	Shares Offered
Market Maker Shares Offered	3,24,000 (5.01%)
QIB Shares Offered	6,14,400 (9.50%)
NII (HNI) Shares Offered	16,58,400 (25.64%)
Retail Shares Offered	38,71,200 (59.85%)
Total Shares Offered	64,68,000 (100.00%)

How shares can be applied?

Application	Lots	Shares	Amount
Retail (Min)	2	2,400	₹2,59,200
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

Who are the Promoters of Siddhi Cotspin IPO?

Mr. Navin Saraogi and Mr. Aansh Rajesh Bindal are the company promoters.

The promoters hold 85.57% of the pre-IPO capital

What are the Objects of Siddhi Cotspin IPO?

The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects

+Funding the working capital requirements of our Company-Rs.25.10 Crore
+Repayment or prepayment of all or a portion of certain outstanding borrowings-Rs.8.97 Crore
+General Corporate purposes

Registered Office of the Company

Siddhi Cotspin Ltd.
Survey 279 & 280, Unit No.13, Sub Plot No. 18
Sector 3 of Dholi Integrated Spinning Park,
Ahmedabad, Gujarat, 382240

Email:cs@siddhicotspin.com

Lead Manager of the IPO

Swastika Investmart ltd

Who is the Registrar to the IPO?

Kfin Technologies ltd
https://ipostatus.kfintech.com/

Siddhi Cotspin Financials Snapshot

Period Ended	31-Mar-25	31-Mar-24	31-Mar-23
Assets	42.02	22.33	5.27
Total Income	28.23	18.98	6.53
Profit After Tax	7.59	6.9	1.81
EBITDA	7.92	7.37	1.91
Net Worth	37.22	16	3.18
Reserves and Surplus	22.83	13.11	3.3
Total Borrowing	1.34	4.13	1.52
Amount in ₹ Crore

Key Financial Indicators

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
EPS	6.72
PER	16.06

How Siddhi Cotspin IPO compares with the Peers?

Company Name	P/E (x)	RoNW (%)
Siddhi Cotspin Ltd.		16.47
Lagnam Spintex Limited	12.84	10.64
Pashupati Cotspin	68.62	10.64
United Polyfab Gujarat	19.39	18.18

Siddhi Cotspin IPO Review

by Paresh Gordhandas, Chartered Accountant & Research Analyst

Business Overview

Incorporated in 2015, Siddhi Cotspin manufactures cotton yarns and value-added specialty yarns like compact carded & combed hosiery, weaving yarns, Eli yarns, Slub & Siro Slub, Lycra-core spin, and TFO double yarn.
Supplies to textile manufacturers, garment exporters, and distributors.
Operates a facility at Dholi, Ahmedabad, Gujarat with 29,376 spindles and an annual production capacity of ~90.12 lakh kgs cotton yarn and ~270.36 lakh kgs value-added yarns.
Focuses on sustainability, automation, and strict quality controls.

Financial Performance

Revenue: Rs. 199.88 cr (FY23) → Rs. 581.18 cr (FY24) → Rs. 724.66 cr (FY25).
PAT: Rs. 6.02 cr (FY23) → Rs. 12.18 cr (FY24) → Rs. 13.08 cr (FY25).
EBITDA: Rs. 25.10 cr (FY23) → Rs. 34.72 cr (FY24) → Rs. 32.87 cr (FY25).
Margins: EBITDA margin declining from 12.56% (FY23) → 5.97% (FY24) → 4.54% (FY25). PAT margin is modest (~1.8%).
Net Worth: Rs. 54.18 cr (FY23) → Rs. 79.44 cr (FY25).
Borrowings: Reduced significantly from Rs. 113.78 cr (FY23) → Rs. 67.11 cr (FY25).

Strengths

Rapid scale-up of operations with strong topline growth.
Wide product mix catering to diverse textile industry needs.
Significant debt reduction in last two years, balance sheet improving.
Sustainable manufacturing practices.

Risks

Very thin profit margins despite high revenue.
Highly competitive cotton yarn industry.
Earnings dependent on cotton price fluctuations and demand cycles.

What does Siddhi Cotspin manufacture?

Siddhi Cotspin manufactures cotton yarns and value-added specialty yarns including compact, combed, Eli, Slub, Lycra-core, and TFO double yarns.

How has the company’s financial performance been?

The company’s revenue jumped from Rs. 199.88 crore in FY23 to Rs. 724.66 crore in FY25, with PAT improving from Rs. 6.02 crore to Rs. 13.08 crore.

Is the company heavily indebted?

Debt has reduced from Rs. 113.78 crore in FY23 to Rs. 67.11 crore in FY25, indicating better leverage management.

What are the key concerns for investors?

EBITDA and PAT margins remain thin, reflecting low profitability compared to scale. High competition and raw material price volatility also pose risks.

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