Sitaram Denims India has filed its DRHP with SEBI for an IPO of up to 3.09 crore shares. The DRHP is the draft paper a company files before an IPO. The Rajasthan fabric maker filed it on 3 November 2026, and the Sitaram Denims India IPO needs SEBI's nod before it can open.
How is the issue split?
Most of the issue is new shares. The rest is an offer for sale (OFS), where the promoters sell their own shares and the company gets no money from that part.
| Part of the issue | Shares |
|---|---|
| Fresh issue | 2.64 crore |
| Promoters' OFS | 44.71 lakh |
| Total | up to 3.09 crore |
The company may also place up to 50 lakh shares privately before the final offer papers. If it does, the fresh issue shrinks by the same amount. The rupee size of the issue is not yet known, because the price band is not set.
What will the money be used for?
Sitaram Denims plans to use ₹40 crore of the fresh issue to repay debt. Another ₹41.3 crore will set up a readymade garment unit at Bhilwara. About ₹23.2 crore goes to working capital, and the rest to general corporate purposes.
The company's fund-based borrowings were ₹255 crore as of September 2026.
What does the company do?
Think of it as a maker of the cloth, not of finished clothes. Garment makers buy such fabrics and stitch them. The new garment unit would take the company a step further down that chain.
Sitaram Denims weaves fabrics at Bhilwara in Rajasthan. Its range includes cotton-spandex, rigid cotton, denim and polyester-viscose fabrics. The promoters are the Nuwal family. SMC Capitals is the merchant banker.
How are the numbers?
| Period | Revenue | Profit |
|---|---|---|
| FY26 (year to March 2026) | ₹242.4 crore | ₹24.2 crore |
| April to June 2026 | ₹75.1 crore | ₹7.9 crore |
Profit for FY26 rose 52% from a year earlier. Revenue grew 16.1%, as per a Moneycontrol report.
What our data shows
Four companies have filed draft papers so far this month, as per our tracker. Sitaram Denims is one of the smaller filings we have followed this year.
What happens next
SEBI will now go through the DRHP. It can ask for changes, and the company can then file the final offer papers. Dates, the price band and the lot size will come only at that stage. The review usually takes one to three months. Track other filings on our upcoming mainboard IPO page and in our IPO news section.
