Vivekanand Cotspin IPO

The Vivekanand Cotspin SME IPO opens for subscription on 21 Sept 2026 and closes on 23 Sept 2026, offered at a price band of ₹32–37 per share, and is set to list on BSE. In total, the issue aims to mobilise ₹22.2 crore. Retail investors bid in lots of 3000 shares, a minimum application of ₹2,22,000.

Issue structure

The IPO is structured entirely as a fresh issue of ₹21.09 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward to meet working capital requirements (₹11 crore), alongside funding for capital expenditure requirement towards installation of additional plant and machinery (₹5.27 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Vivekanand Cotspin reported revenue of ₹409.32 crore and a net profit of ₹3.69 crore. Revenue grew from ₹358.02 crore in FY2024 to ₹409.32 crore in FY2026 (+14.0%). Net worth stood at ₹28.94 crore at the end of FY2026. At the upper band, that puts the issue at roughly 16.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 22.84× post-issue earnings and 2.08× book value, against a return on net worth of 15.96% and a debt-to-equity ratio of 1.56. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Deepak Spinners Ltd and Pashupati Cotspin Ltd, with a median peer P/E of about 15.8×. The issue's own post-issue P/E works out to 22.84×.

Promoters

The promoters of the company are <p>Nirav Bharatbhai Patel, Jasmin Vishnubhai Patel, Bharatbhai Prahaladbhai Patel, Vishnubhai Prahaladdas Patel, Gautam Bharatkumar Patel, B P Patel Family Trust, V P Patel Family Trust</p>. Promoter holding stands at 100% before the issue and comes down to 73.03% after listing.

Grey market premium (GMP)

In the unofficial grey market, Vivekanand Cotspin shares are quoted at a premium of ₹0 implying an expected listing around ₹37, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Vivekanand Cotspin IPO was subscribed 1.79 times overall. The strongest demand came from non-institutional investors (NII) at 2.41 times, with qualified institutional buyers (QIB) at 1.26× and retail investors at 1.82×.

Listing performance

Vivekanand Cotspin listed on 28 Sept 2026 at ₹38, a premium of +2.7% over the issue price of ₹37.

What to weigh

When evaluating the Vivekanand Cotspin IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Vivekanand Cotspin

Incorporated in July 2015, Vivekanand Cotspin Limited processes cotton and manufactures yarn through ginning and spinning, including trading. The company's products include cotton bales, seeds, and yarn. The company operates in two primary areas: cotton ginning and spinning. The company focuses on spinning clean cotton fibres into yarn. The company focuses on cotton yarn, offering carded and combed options for domestic and international markets. Vivekanand Cotspin caters to various industries needing high-quality yarn for fabric production and exporting beyond India. It operates spinning mills with efficient machinery to uphold quality control. The company&rsquo;s manufacturing facility is located in Rangpurda, Kadi, within the Mahesana District of Gujarat, close to the fertile cotton-growing regions of Maharashtra and Saurashtra in Gujarat. The company has established an annual production capacity of approximately 4,550.51 tons of cotton yarn and 8,000 tons of cotton bales. As of September 30, 2024, the Company has 144 employees on payroll. Competitive Strength Establishing the Spinning Unit has achieved forward integration into the cotton textile industry. Cost-effective production and timely fulfilment of orders. Scalable model to optimize production, strengthen supplier relationships, and achieve economies of scale. Emphasizing high-quality yarn is crucial for attracting and retaining customers in the competitive textile industry. Experienced Promoters.