Rudra Cottex IPO
Rudra Cottex IPO — date, issue size, SEBI status & DRHP details 2026
Rudra Cottex filed its draft red herring prospectus (DRHP) with SEBI on 29 Sep 2026 for an IPO of a fresh issue of up to 1,25,00,000 shares. The draft is no longer on SEBI's list of pending offer documents. The price band, lot size and IPO dates are not announced yet.
Rudra Cottex makes cotton yarn, including EliTwist compact yarn, at a spinning plant in Dehgam, Gandhinagar, and also trades cotton bales and yarn. Revenue from operations grew from Rs 222.35 crore in FY2024 to Rs 345.33 crore in FY2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the DRHP filed with SEBI
Where the Rudra Cottex IPO stands
From draft to listing. Today is 8 October 2026.
- DRHP filed 29 Sep 2026
- SEBI observations Done
- RHP & price band TBA
- Bidding TBA
- Listing TBA
| DRHP filed with SEBI | 29 Sep 2026 |
|---|---|
| SEBI status | SEBI review completed |
| RHP, price band & dates | Not announced |
Rudra Cottex IPO details
The offer as the DRHP describes it. Terms can change in the RHP.
| Issue type | Fresh issue only |
|---|---|
| Fresh issue | Up to 1,25,00,000 shares |
| Offer for sale | None |
| Total issue size | Depends on the price band |
| Face value | ₹10 per share |
| Proposed listing | BSE, NSE |
| Price band | Not announced (comes with the RHP) |
| Lot size | Not announced |
| IPO dates | Not announced |
| Book running lead managers | Beeline Capital Advisors Private Limited |
| Registrar | KFin Technologies Limited |
Strengths & risks
The case for and against, from the DRHP's own numbers and risk factors.
Strengths · 6
- 01Spinning capacity utilisation rose from 56.61% in FY2024 to 94.76% in FY2026 on an installed capacity of 9,307.50 MT.
- 02Revenue from operations grew 25.04% in FY2026 and 24.21% in FY2025, reaching Rs 345.33 crore.
- 03Profit after tax rose from Rs 10.00 crore in FY2024 to Rs 32.99 crore in FY2026, and PAT margin went from 4.50% to 9.55%.
- 04EliTwist technology based compact yarn, the value-added product, gave 30.77% of FY2026 revenue against 15.64% in FY2024.
- 05Debt to equity ratio improved from 1.37 in FY2024 to 0.89 in FY2026, and return on equity was 29.40% in FY2026.
- 06EBITDA margin was 18.77% in FY2026, up from 14.40% in FY2024.
Risks · 10
- 01The largest customer gave 42.26% of FY2026 revenue and the top 10 customers gave 96.17%, up from 73.60% in FY2024.
- 02Surya Future Tradewing LLP, a promoter group member, bought goods worth 13.52% of FY2025 revenue from operations, which is a related-party dependence.
- 03Operating cash flow was Rs 8.34 crore in FY2026 against profit after tax of Rs 32.99 crore, and it was Rs 28.79 crore in FY2025.
- 04Total borrowings were Rs 114.32 crore at the end of FY2026, up from Rs 86.71 crore a year earlier.
- 05Trading of cotton bales and yarn gave 37.27% of FY2026 revenue and carries a thin margin compared with manufacturing.
- 06Sales through traders and agents were 87.12% of FY2026 revenue, up from 60.17% in FY2024, and the company has no long-term contracts with customers or suppliers.
- 07Cotton bales and electricity together cost 42.38% of FY2026 revenue, so price swings in cotton hurt margins.
- 08Gujarat gave 89.00% of FY2026 revenue and the company runs a single manufacturing facility, so a shutdown there would affect all output.
- 09The company has not complied or delayed complying with some Companies Act, 2013 provisions, has adjudication applications pending with the RoC, and challans for some statutory forms are untraceable.
- 10The amounts for capex, debt repayment and general corporate purposes are not yet disclosed ([●] in the draft), and general corporate purposes can be used without a fixed plan.
Rudra Cottex financials
Restated figures in ₹ crore, as reported in the DRHP.
| ₹ crore | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue from Operations | 345.33 | 276.18 | 222.35 |
| EBITDA | 64.82 | 53.94 | 32.01 |
| Profit After Tax | 32.99 | 23.90 | 10.00 |
| Net Worth | 128.77 | 95.68 | 71.84 |
| Total Borrowing | 114.32 | 86.71 | 98.54 |
Key ratios (FY26)
P/E and market capitalisation need the price band and are added when the RHP is out.
Where the IPO money goes
How Rudra Cottex plans to use the fresh issue proceeds.
About Rudra Cottex
The company sells only to businesses (B2B). Its customers are traders, agents, manufacturers and merchant exporters. In FY2026, 87.12% of revenue from operations came through sales facilitated by traders and agents. Gujarat gave 89.00% of FY2026 revenue, and exports through merchant exporters gave 9.30%.
In FY2026, manufacturing gave Rs 206.25 crore (59.72% of revenue from operations) and trading of cotton bales and cotton yarn gave Rs 128.69 crore (37.27%). In FY2024, trading gave 42.16% of revenue. The company has one business segment and does not report segment-wise numbers.
All manufacturing happens at one integrated, semi-automated facility at Survey No. 808 and 836 to 843, Village Kadjodara, Taluka Dehgam, District Gandhinagar, Gujarat. Installed spinning capacity is 9,307.50 MT with 27,360 spindles. Capacity utilisation rose from 56.61% in FY2024 to 92.88% in FY2025 and 94.76% in FY2026. Cotton yarn sales volume was 10,428.97 MT in FY2026.
The company had 178 permanent employees at the end of FY2026. It is promoted by Rahulkumar Abji Dholu, Radheshyam Parshottambhai Pokar and Patel Nilesh Kumar Babubhai. Its registered office is in Sola, Ahmedabad. The issue is a fresh issue only, and the money is meant for expanding the existing facility, repaying borrowings and general corporate purposes.
The industry
The industry report (D&B) says the Indian textile sector contributes nearly 2% of India's GDP, 11% of manufacturing GVA and 8.63% of exports, as per Union Budget 2026-27. It says the cotton yarn industry is moving from conventional commodity yarns towards value-added and performance-oriented yarns such as compact yarns, doubled yarns and specialty yarns, driven by demand for better fabric quality and durability.
Customer concentration: The top 5 customers gave 86.56% of FY2026 revenue from operations (75.43% in FY2025), and the top 10 gave 96.17%.
Promoters & management
The three promoters hold 18.99% and other promoter group members hold 23.77% before the issue, together 42.76%.
| Name | Role |
|---|---|
| Rahulkumar Abji Dholu | Chairman and Managing Director |
| Radheshyam Parshottambhai Pokar | Executive Director |
| Patel Nilesh Kumar Babubhai | Executive Director |
| Patel Utsavkumar Arvindbhai | Chief Financial Officer |
| Jotaniya Sahul Natvarbhai | Company Secretary and Compliance Officer |
The bankers & the filings
Who is running the issue, and the SEBI documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Beeline Capital Advisors Pvt. Ltd.
5 issues handled (2 mainboard, 3 SME)Best listing: Kratikal Tech (+42.2%). Weakest: Modern Diagnostic & Research Centre (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Rudra Cottex IPO: frequently asked
When will the Rudra Cottex IPO open?
The Rudra Cottex IPO dates are not announced yet. The draft is no longer on SEBI's list of pending offer documents. The company announces the dates and price band after it files its red herring prospectus (RHP) with the Registrar of Companies, usually a week or two before bidding opens. This page switches to the full IPO page with dates, price band and lot size as soon as that happens.
What is the Rudra Cottex IPO price band?
The price band is not announced yet. It is set by the company and its lead managers and published with the RHP, a few days before the issue opens. The DRHP fixes only the face value of ₹10 per share.
How big is the Rudra Cottex IPO?
Rudra Cottex filed its draft red herring prospectus (DRHP) with SEBI on 29 Sep 2026 for an IPO of a fresh issue of up to 1,25,00,000 shares. The final size in rupees depends on the price band.
Has SEBI approved the Rudra Cottex IPO?
The draft is no longer on SEBI's list of pending offer documents. SEBI observations are valid for 12 months; the IPO has to open within that window or the company must file again.
What is the Rudra Cottex IPO GMP?
There is no grey market premium to report before the price band is announced. IPO Guru starts tracking the Rudra Cottex IPO GMP once the RHP and price band are out.
What will Rudra Cottex do with the IPO money?
As per the DRHP: Capital expenditure on civil construction, plant and machinery to expand the manufacturing facility; Prepay or repay certain outstanding borrowings; General corporate purposes.
Who are the lead managers of the Rudra Cottex IPO?
The book running lead managers are Beeline Capital Advisors Private Limited. KFin Technologies Limited is the registrar.
Is Rudra Cottex profitable?
Yes. Profit after tax was Rs 32.99 crore in FY2026, Rs 23.90 crore in FY2025 and Rs 10.00 crore in FY2024.
How much of Rudra Cottex's revenue comes from one customer?
The largest customer gave 42.26% of FY2026 revenue from operations. The top 5 customers gave 86.56%.
What does Rudra Cottex make?
It makes carded, combed and compact cotton yarn, including EliTwist technology based compact yarn, and also trades cotton bales and cotton yarn.
Other companies in the IPO pipeline
Mainboard companies with drafts filed with SEBI, same bankers first.
Know the day the price band is out.
We track every mainboard draft from SEBI filing to listing. When Rudra Cottex files its RHP, this page becomes the full IPO page with dates, price band, lot size, GMP and subscription.
Not investment advice. Figures are from the company's draft offer document filed with SEBI and may change in the RHP.
