IPO Name: Siddhi Cotspin Ltd; Listing Date: 26 Sep 2025; IPO Size: ₹69.85 Cr; Price Band: ₹102–₹108; Open Date: 19 Sep 2025; Close Date: 23 Sep 2025; Lot Size: 1,200; Exchange: NSE SME; Issue Type: Fresh Issue + Offer for Sale; Face Value: ₹10; Registrar: KFin Technologies Ltd
Siddhi Cotspin Ltd IPO: Price Band, Dates, Financials & Expert Analysis
Introduction:
Siddhi Cotspin Ltd, a cotton yarn manufacturer based in Gujarat, has opened its IPO subscription from 19 September 2025 to 23 September 2025 on the NSE SME platform. The issue price has been set between ₹102-₹108 per share, with a lot size of 1,200 shares, and a total issue size of about ₹69.85 crore. It includes both a fresh issue and an offer for sale by existing shareholders.
For comparison with recent SME IPOs, see Dev Accelerator IPO Subscription Status and Sampat Aluminium IPO. These give insights into how subscription and listing sentiment are shaping up in similar sectors.
IPO Details Table
| Parameter | Details |
|---|---|
| Issue Size | ₹69.85 Cr |
| Price Band | ₹102 – ₹108 |
| Lot Size | 1,200 shares |
| Open Date | 19 Sep 2025 |
| Close Date | 23 Sep 2025 |
| Allotment Date | 24 Sep 2025 |
| Listing Date | 26 Sep 2025 |
| Face Value | ₹10 per share |
| Exchange | NSE SME |
| Registrar | KFin Technologies Ltd |
Financial Performance
In FY2025, Siddhi Cotspin reported revenue of ≈ **₹724.66 crore** and profit after tax (PAT) of around **₹13.08 crore**, up from ~₹581.18 crore revenue and ~₹12.18 crore PAT in FY2024. The growth reflects strong demand in cotton yarns, especially value-added yarns. 0
Use of IPO Proceeds
- Working capital: ~₹25.10 crore 1
- Repayment or prepayment of borrowings: ~₹8.97 crore 2
- General corporate purposes: rest of the funds 3
Subscription & Market Sentiment
On Day 1 (19 Sep 2025), the Siddhi Cotspin IPO was ~1.97 times subscribed. 4 Retail portion was modestly subscribed, while NIIs and QIBs showed stronger interest. The Grey Market Premium (GMP) as reported is zero, indicating that shares are trading close to issue price in unofficial markets. 5
For context, Current Infraprojects IPO and Dev Accelerator IPO Subscription Stats show similar levels of interest in textile / industrial SMEs recently.
SWOT Analysis
- Strengths: Strong revenue scale; experienced promoters; diversified product range (value-added yarns), good capacity in Gujarat; good quality assurance. 6
- Weaknesses: Agricultural raw material dependency (cotton price volatility); highly working-capital intensive business; single large facility (operational concentration risk). 7
- Opportunities: Growing demand in domestic textile & denim segments; export potential; ability to scale value-added specialty yarns could drive margin expansion. 8
- Threats: Competition from established yarn producers; fluctuations in cotton availability and price; changes in regulation or import/export duty; market sentiment risks. 9
Expert Investment View
For the IPO investors, Siddhi Cotspin offers a reasonably priced SME IPO with a solid financial track record. The 1.97× subscription on Day 1 suggests decent demand. The margin for listing gain may not be large if GMP remains near zero, but long-term growth looks promising if management executes well.
Conservative investors should keep an eye on allotment and final performance; aggressive investors may allocate reasonably given the issue’s scale and visible interest.
Conclusion
Siddhi Cotspin Ltd IPO presents a balanced opportunity in the textile spinning sector: solid fundamentals, growth in revenue, and decent interest from market participants. While risks are real (input cost, volatility, etc.), the issue looks fair for those seeking exposure to value-added yarn space.
Disclaimer: This post is for informational purposes only and should not be considered financial advice.
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