Vivekanand Cotspin SME IPO
Vivekanand Cotspin IPO — date, price band, lot size & details 2026
Vivekanand Cotspin listed on 28 Sep 2026 at ₹38, 2.7% above the ₹37 issue price.
Vivekanand Cotspin Limited gins and spins cotton, producing cotton bales, seeds and carded and combed yarn for domestic and export customers. Its plant at Rangpurda in Kadi, Gujarat sits near the cotton belt with capacity of about 4,550 tonnes of yarn and 8,000 tonnes of cotton bales a year.
Stock price
Vivekanand Cotspin is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 October.
- Open 21 Sep 2026
- Close 23 Sep 2026
- Allotment 24 Sep 2026
- Refund/credit 25 Sep 2026
- Listing 28 Sep 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 Sep, 2026 |
|---|---|
| Price Band | ₹32 – ₹37 |
| Face Value | ₹10 |
| Lot Size | 3000 Shares |
| Issue Size | ₹22.2 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 2,22,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 3000 shares at the ₹37 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 6,000 | ₹2,22,000 |
| Retail (max) | 2 | 6,000 | ₹2,22,000 |
| HNI (min) | 3 | 9,000 | ₹3,33,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 8
- 01The company handles both ginning and spinning, so it can take cotton from the raw stage through to finished yarn rather than depending on bought-in fibre.
- 02The plant at Kadi in Gujarat is close to the cotton growing regions of Gujarat and Maharashtra, which shortens the journey and cost of its main raw material.
- 03It has an established capacity of about 4,550 tonnes of cotton yarn and 8,000 tonnes of cotton bales a year.
- 04EBITDA has been steady at around Rs 14.59 crore to Rs 15.09 crore across the last three years.
- 05Net worth has grown from Rs 20.62 crore in FY2024 to Rs 28.94 crore in FY2026.
- 06Borrowing came down from Rs 54.76 crore in FY2025 to Rs 45.00 crore in FY2026.
- 07It offers both carded and combed yarn and sells in export markets as well as in India.
- 08The turnover is large for a company of this size, at Rs 409.32 crore in FY2026.
Risks · 9
- 01The profit margin is the thinnest in this batch at 0.90%. On income of Rs 409.32 crore the company kept only Rs 3.69 crore.
- 02Profit actually fell in FY2026, from Rs 4.07 crore to Rs 3.69 crore, even though income rose 41%.
- 03Sales are volatile. Total income was Rs 358.02 crore in FY2024, fell to Rs 290.94 crore in FY2025 and then rose to Rs 409.32 crore in FY2026.
- 04The issue is priced at about 22.84 times earnings on an EPS of Rs 1.62, which is a high multiple for a commodity business earning under 1% on sales.
- 05Debt is high. Total borrowing was Rs 45.00 crore against a net worth of Rs 28.94 crore, a debt to equity ratio of 1.56.
- 06Cotton is a commodity. Prices move with the crop, with minimum support price decisions and with export demand, and ginning in particular offers very little to differentiate on.
- 07The whole business runs from one facility at Kadi in Gujarat, so a poor local crop or any problem at that site affects everything.
- 08The post issue promoter holding is not stated in the data available to us, so the extent of dilution is not clear.
- 09This is an SME issue. One lot is 3,000 shares, which is about Rs 1.11 lakh at the upper band of Rs 37, and SME shares usually trade in low volume after listing.
Three years of numbers
All figures in ₹ crore, as reported in the Vivekanand Cotspin offer document.
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 84.85 | 87.53 | 84.83 |
| Total Income | 409.32 | 290.94 | 358.02 |
| Profit After Tax | 3.69 | 4.07 | 3.35 |
| EBITDA | 15.09 | 14.59 | 14.59 |
| NET Worth | 28.94 | 17.26 | 20.62 |
| Reserves and Surplus | 12.69 | 2.26 | 5.62 |
| Total Borrowing | 45.00 | 54.76 | 40.02 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Vivekanand Cotspin RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Vivekanand Cotspin IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.27 | ₹1.62 |
| P/E Ratio (x) | 16.30 | 22.84 |
| Market Cap at Offer Price (₹ Cr) | ₹60.15 | ₹84.18 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹37 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹16.27 Cr of the issue is earmarked to named objects.
About the company
Its work has two parts. Ginning is the first step, where raw cotton is cleaned and the fibre separated from the seed, producing cotton bales and cotton seed. Spinning is the next step, where the cleaned fibre is spun into yarn. Doing both means the company can take cotton from the farm gate through to finished yarn.
Its products are cotton bales, cotton seeds and cotton yarn. The yarn is offered in carded and combed grades, combed being the finer and more processed of the two, and is sold both in India and abroad to buyers who make fabric. Its manufacturing facility is at Rangpurda in Kadi, in the Mahesana district of Gujarat, close to the cotton growing regions of Gujarat and Maharashtra. It has an annual capacity of about 4,550 tonnes of cotton yarn and 8,000 tonnes of cotton bales.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
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The bankers & the filings
Who is running the book, and the documents this page is built from.
Company contact
Frequently asked
What is the GMP of Vivekanand Cotspin?
The current Grey Market Premium is ₹0.
What is the Vivekanand Cotspin IPO price band?
₹32 to ₹37, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 September 2026, with listing on 28 September 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
