| Annual Financials | Aug 2024 | Mar 2025 | Mar 2026 |
| Revenue | 75.47 | 290.47 | 408.01 |
| Expenses | 74.23 | 287.55 | 404.19 |
| Other Income | 0.11 | 0.47 | 1.31 |
| Total Revenue | 75.57 | 290.94 | 409.32 |
| Profit Before Tax | 1.35 | 3.23 | 5.13 |
| Net Profit | 0.87 | 4.07 | 3.69 |
Vivekanand Cotspin
Vivekanand Cotspin IPO
₹2,10,000
0.07 xOver-subscribedBidding Dates 21 Sept, 26 -23 Sept, 26
Min Investment ₹2,10,000
Lot Size3,000
Price Range ₹35 – ₹37
Issue Size ₹22.20 Cr.
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IPO Subscription Details
Retail Subscription Details
0.25 x
Non-Institutional Buyers (bHNI)
0.31 x
Qualified Institutional Buyers (QIB)
0 x
Employees
0 x
Total0.07 x
0.07 x IPO Timeline
IPO Offer Start
21 Sept,26
IPO Offer Ends
23 Sept,26
Allotment Finalisation
24 Sept,26
Refund Initiation
25 Sept,26
Listing of Shares
28 Sept,26
IPO Analysis
Strengths
The company is engaged in both ginning and spinning, with ginned cotton from its own unit serving as raw material for spinning, enabling supply chain control and increased profitability by moving further down the cotton textile value chain.
The company ensures cost efficiency through quality raw material identification, smooth labour relations, and an efficient production system, supported by strong supplier relationships that enable timely order fulfillment.
The company operates a scalable model focused on optimizing production capacity and achieving economies of scale, with an annual capacity of approximately 4,551 MT of Cotton Yarn and 8,000 MT of Cotton Bales, allowing upward scaling to meet growing market demands.
Risks
A significant portion of the company's revenue is derived from related party transactions, with sales to Ambica Cotseeds Limited and Vivekanand Industries representing up to 47.23% and 23.13% of revenue respectively in certain periods. Any disruption, modification, or termination of these arrangements could adversely affect business operations and financial condition.
The company's business is heavily dependent on raw cotton, which is subject to seasonal variations, global demand-supply dynamics, weather conditions, and government policies. Any sharp increase in raw cotton prices or supply constraints could significantly raise production costs and reduce profit margins without a corresponding increase in product prices.
The top 10 customers contributed 51.18%, 83.08%, and 88.73% of revenues for FY2026, FY2025, and FY2024 respectively, with no long-term contracts in place. The loss of any major customer or reduction in orders could materially and adversely impact revenues, cash flows, and profitability.
Objectives
The company proposes to utilize a portion of the Net Proceeds towards procurement, installation, and commissioning of technologically upgraded spinning machinery (Comber Machine, Compact Spinning System, and Link Corner/Autoconer Winding System) at its existing manufacturing facilities to improve operational efficiencies, enhance process integration, and support manufacture of value-added yarn products.
The company proposes to utilize a portion of the Net Proceeds towards funding incremental working capital requirements to support business growth, as the business is working capital intensive and relies on internal accruals and borrowings from banks and financial institutions.
The company proposes to deploy the balance Net Proceeds towards general corporate purposes, including strategic initiatives, strengthening of marketing activities, and ongoing general corporate exigencies, subject to a maximum of 15% of the Gross Proceeds or Rs. lakhs (whichever is lower) as per SEBI ICDR Regulations.
The company estimates total Issue expenses including underwriting and management fees, printing and distribution expenses, advertisement expenses, legal fees, and listing fees, to be borne from the gross proceeds of the Issue.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Aug 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 76.23 | 87.53 | 84.85 |
| Current Assets | 25.31 | 39.93 | 41.45 |
| Fixed Assets | 50.92 | 47.60 | 43.40 |
| Total Equity & Liabilities | 76.23 | 87.53 | 84.85 |
| Total Liabilities | 52.78 | 70.27 | 55.91 |
| Current Liabilities | 28.13 | 35.73 | 38.14 |
| Non Current Liabilities | 24.65 | 34.53 | 17.78 |
| Total Equity | 23.45 | 17.26 | 28.94 |
Cash Flow
| Cash Flow | Aug 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 0.02 | 0.11 | 0.07 |
| Investing Activities | 0.27 | -0.24 | -1.27 |
| Operating Activities | 7.07 | -10.79 | 8.67 |
| Financing Activities | -7.33 | 11.14 | -7.33 |
About Vivekanand Cotspin
Vivekanand Cotspin Limited is a Gujarat-based cotton processing and yarn manufacturing company engaged in ginning of raw cotton (kapas) into cotton bales and cotton seeds, and spinning of cotton bales into cotton yarn. The company operates from its facility at Rangpurda, Kadi, Mahesana, with an installed capacity of approximately 4,551...more
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Managing DirectorNirav Bharatbhai Patel
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