IPOs & Listings
Sitaram Denims India Files Draft Papers With SEBI for 3.09 Crore Share IPO
By News Desk ·
Key takeaways
- Sitaram Denims India filed a draft red herring prospectus with SEBI for an IPO of 3.09 crore equity shares.
- The offering comprises a fresh issue of 2.64 crore shares and an offer-for-sale of 44.71 lakh shares by promoters.
- The company plans to use Rs 40 crore of net fresh issue proceeds to repay debt and Rs 41.3 crore for a garment facility in Bhilwara.
- Sitaram Denims India reported profit of Rs 24.2 crore on revenue of Rs 242.4 crore for the fiscal year ended March 2026.
Sitaram Denims India has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of 3.09 crore equity shares, combining a fresh issue of 2.64 crore shares with an offer-for-sale of 44.71 lakh shares by promoters. Business News Today reported the filing on November 4, 2026.
Sitaram Denims India's Share Sale Structure
The Rajasthan-based fabric maker, promoted by the Nuwal family, filed the draft papers on November 3. The company may also raise funds by issuing 50 lakh shares in a pre-IPO placement before filing the red herring prospectus with the Registrar of Companies; if that round is undertaken, the fresh issue size will be reduced by the amount raised.
Sitaram Denims India proposes to use Rs 40 crore of net fresh issue proceeds to repay certain debt and Rs 41.3 crore to set up a readymade garment manufacturing facility at Bhilwara, where its manufacturing operations are located. A further Rs 23.2 crore is earmarked for working capital requirements, with the remainder for general corporate purposes. The company said its total fund-based outstanding borrowings were Rs 255 crore as of September 2026.
SMC Capitals has been appointed merchant banker for the offering. Sitaram Denims India makes woven fabrics including cotton-spandex, rigid cotton, denim, polyester-viscose and other blended fabrics.
Sitaram India's Profit and Revenue Figures
According to akta.pro company records, Sitaram India is a privately held denim fabric manufacturer founded in 1987 that operates a single factory in Bhilwara, Rajasthan, with a domestic India-only geographic footprint.
Profit for the three months ended June 2026 stood at Rs 7.9 crore on revenue of Rs 75.1 crore. For the fiscal year ended March 2026, profit rose 52% year on year to Rs 24.2 crore while revenue grew 16.1% to Rs 242.4 crore.
Yes Group and Maya IPO Plans Elsewhere
Other listings activity in the period includes Yes Group Management Bhd, which is accepting applications for its ACE Market IPO at 18 sen per share to raise RM24.8 million, of which RM16.5 million goes to the company, The Edge Malaysia reported on November 4, 2026.
BusinessWorld Online reported on November 3, 2026, that GCash's parent Mynt's recent IPO debut is seen as a valuation benchmark for Maya's planned 2027 IPO, with PLDT and First Pacific holding 39.6% of Maya.