NSE SME Siddhi Cotspin IPO ends with subscription of 3.83 times

The initial public offer (IPO) of Siddhi Cotspin received bids for 2,48,31,600 shares as against 64,68,000 shares on offer. The issue was subscribed 3.83 times. Qualified Institutional Buyers (QIBs) bid for 1,07,72,400 shares, Non-Institutional Investors (NIIs) for 82,56,000 shares, while Retail Individual Investors (RIIs) placed bids for 58,03,200 shares. The issue opened for bidding on 19 September 2025 and it will close on 23 September 2025. The price band of the IPO was fixed between Rs 102 to 108 per share. The equity shares will list on NSE’s SME platform. The IPO comprised fresh issue of 49,44,000 shares and offer for sale (OFS) of 15,24,000 shares by existing shareholders. The promoter and promoter shareholding diluted to 65.56% from 85.57% Pre-IPO. The company intends to utilize the net proceeds for funding capital expenditure requirement, repayment or prepayment of all or a portion of certain outstanding borrowings and for general corporate purposes. Siddhi Cotspin specializes in the manufacturing and sale of high-quality cotton yarns, including a diverse range of value-added and specialty yarns. Its product portfolio includes Compact Carded and Combed Hosiery Yarns, Compact Weaving Yarns, Carded and Combed Yarns, Eli Yarns (KW & CW), Slub and Siro Slub Yarns, Lycra-Core Spun Yarns (Spandex), and TFO Double Yarns, which are known for their added strength and durability. The company primarily supplies these products to textile manufacturers, garment exporters, and distributors, with a strong focus on quality, reliability, and timely delivery. Over the years, Siddhi Cotspin has successfully built long-term relationships with its customers by consistently meeting their expectations and maintaining high standards. As of 31 March 2025, the company had 348 employees. The company recorded revenue from operations of Rs 724.54 crore and net profit of Rs 13.08 crore for the period ended 31 March 2025.