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Siddhi Cotspin Ltd
TextilesIPOSME
₹108 - 108
Our Company is primarily engaged in manufacturing and selling of Cotton Yarns. Our manufacturing process adheres to stringent quality standards and is backed by advanced technology and machinery. We have set up a Greenfield project of manufacturing cotton yarn including value added and specialty yarn at Unit No.13, Sub Plot No. 18, Survey No. 279 & 280, Village Dholi, Taluka Dholka, District Ahmedabad, Gujarat - 382240, with a total spinning capacity of 29,376 spindles. The installed unit is capable of producing cotton yarn including value added yarns. Our current capacity for producing Cotton Yarn is 90,11,850 Kgs.
Lot1,200Min Invest₹2,59,200Face Value₹10Issue Size₹70 CrFresh Issue₹53 CrOffer for Sale₹16 CrListing Price₹86CMP₹27
Timeline
19 Sept
Bidding opens
23 Sept
Bidding closes
24 Sept
Allotment
25 Sept
Refund & demat credit
26 Sept
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹70 Cr0.65 Cr shares
Fresh Issue₹53 Cr
Offer for Sale₹16 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 10% · NII 27% · RETAIL 63%
Application Sizes
Retail₹2,59,2001-1 lots
sNII₹2,59,200from 2 lots
bNII₹10,36,800from 8 lots
Managers & Registrar
Lead ManagerSwastika Investmart Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrNavin SaraogiPRMTR6,54,8027.07Vineeta Vishal ChiripalOTH8,69,1989.39Total15,24,00016.46
Shareholding
CategoryPre IPOPost IPOPromoter Group85.57%65.56%Public14.43%34.44%
Objects of the Issue
- Funding the working capital requirements
- Repayment of prepayment of all or a portion of certain outstanding borrowings
- General corporate purpose
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 402 | 199 | 581 | 725 | 478 |
| Operating ProfitCr | 33 | 25 | 35 | 33 | 26 |
| OPM% | 8.1 | 12.6 | 6.0 | 4.5 | 5.4 |
| PBTCr | 11 | 9 | 17 | 18 | 13 |
| PATCr | 9 | 6 | 12 | 13 | 10 |
| EPS | 22 | 3 | 6 | 7 | 4 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 4 | 4 | 19 | 19 | 24 |
| ReservesCr | 46 | 50 | 47 | 60 | 112 |
| BorrowingsCr | 139 | 114 | 91 | 67 | 27 |
| Fixed AssetsCr | - | - | 67 | - | - |
| Total AssetsCr | 201 | 184 | 181 | 183 | 177 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 26 | 28 | 19 | 29 | 16 |
| Investing Cash FlowCr | 0 | -1 | 0 | 1 | -18 |
| Financing Cash FlowCr | -2 | -33 | -32 | -29 | 4 |
| Net Cash FlowCr | 24 | -5 | -13 | 0 | 2 |
Strengths & Risks
Strengths · as stated in the DRHP
- Experienced Promoter and Management Team.
- Quality Standards.
- Strong and diversified supplier base for sourcing raw materials.
- Optimal Utilization of Resources.
- Long-standing relationships with our customers.
Strategies · as stated in the DRHP
- Maintain and Expand Long-term Relationships with Customers.
- Investing In Advanced Technology.
- Leveraging our market skills and relationship.
- Continue to build-up a professional organization.
- Compliance Management.
Risks · as stated in the DRHP
- There is an Interim Order/Show Cause Notice passed by the Securities and Exchange Board of India (SEBI) involving Mr. Vedprakash Devkinandan Chiripal and Ms. Savitridevi Chiripal part of the company Promoter Group, alongwith other entities viz. Mauria Udyog Limited, 7NR Retail Limited, Darjeeling Ropeway Company Limited, GBL Industries Limited, and Vishal Fabrics Limited which may impact its Promoter's reputation and in turn affecting the company is business operations and the value of its shares.
- The company does not own its registered office.
- Substantial portion of its revenues has been dependent upon few customers, with which the company does not have any firm commitments. The loss of any one or more of its major customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.
- Its business is vulnerable to variations in demand for cotton yarn and changes in consumer preferences, which could have an adverse effect on its business, results of operations and financial condition.
- The Company has not entered into any fixed or long term contracts with its customers and the company will operates on the basis of orders received on hand. Inability to maintain regular order flow would adversely impact its revenues and profitability.
- The company does not maintain long-term contracts with its third-party suppliers, and its business may be adversely affected by a shortfall in supply, or increase in price of materials.