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InvestmentsIPOSihora Industries IPO

Sihora Industries IPO

SME

Open Date

10 Oct 2025

Close Date

14 Oct 2025

Min Investment

₹ 2,64,000

Lot Size

2,000

Issue Size

₹ 10.56 Cr

Price Range

₹ 66 - ₹ 66

Subscribed

1.25 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
10 Oct 2025
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IPO Offer Ends
14 Oct 2025
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Allotment Finalisation
15 Oct 2025
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Refund Initialisation
16 Oct 2025
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Non-Institutional Buyers (sHNI)
16 Oct 2025
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Listing of Shares
17 Oct 2025
IPO Subscription Details as on 5 Apr 2026, 07:25 AM
Retail
1.24 x
Total
1.25 x
Non-Institutional Buyer (bHNI)
1.09 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Sihora Industries Limited is engaged in the business of manufacturing and sale of narrow woven fabrics, lace, digitally printed narrow fabrics, woven labels, tapes, zippers, elastics and other textile products, including technical textiles, for use in fashion and industrial sectors. The company's operations are headquartered in Surat, Gujarat, which is a textile manufacturing hub. The business integrates technology with traditional manufacturing processes for apparel clients, proprietary brands, and contract customers. The company manufactures customizable products for brands, retailers, wholesalers, and end consumers. The company was originally incorporated as Sihora Industries Private Limited on August 10, 2023, under the Companies Act, 2013, with the intent to take over the operations of Sihora Narrow Fabrics, the sole proprietorship of the Promoter, Mr. Gautam Vallabhbhai Sihora. The takeover of business was completed on October 17, 2023. Subsequently, the company was converted into a public limited company pursuant to a special resolution passed on June 12, 2024. The company operates an integrated textile manufacturing facility located in Surat, Gujarat, which undertakes end-to-end textile manufacturing processes, including yarn processing, weaving, digital printing, embroidery, dyeing, and finishing. The facility includes infrastructure for digital printing (reactive and sublimation), weaving through rapier looms and needle looms, electronic jacquard weaving and standard finishing processes. The integration of multiple manufacturing processes at a single location enables the company to supply products to customers engaged in both branded and non-branded businesses. The manufacturing unit is located in Surat, Gujarat, which provides access to transportation networks, local suppliers, and workforce availability. Raw materials are procured from within Gujarat, which assists in reducing procurement time and associated logistics costs. The company has maintained business relationships with its customers and suppliers, which assist in the continuity of business operations and procurement of inputs.
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Founded In

2023

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CEO

Mrs. Priyal Gautamkumar Sihora

Financials of Sihora Industries IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue1,209.77621.101,456.20
Other Income0.006.1850.26
Total Income
1,209.77627.281,506.46
Total Expenses
1,192.23586.651,256.22
Profit Before Tax17.5540.63250.24
Total Profit
29.9832.14187.26

All figures are in lakhs (₹)

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Utilisation of Proceeds

All figures are in lakhs (₹)

PurposeAmount
The company intends to purchase and install new machineries at the existing manufacturing unit to augment revenues from the facility located at Surat. Installing these new machines will increase production capacity and increase the overall revenue base. The capital expansion project is aimed at enhancing production capacity and operational efficiency in the manufacturing of quality products. The machinery to be installed includes Elastic Tape Winding and cutting Machine, DNR Needle Loom Regular Jacquard, Shuttle less Coil Forming Machine, Sewing Machines with Iron Stand, Crochet Knitting Machine, Zipper Production System, and various other equipment. The addition of in-house machinery is expected to reduce the company's dependence on outsourced production, leading to improved operating margins and better cost control.200
The company proposes to utilize the net proceeds towards repayment/prepayment, in part or full, of certain borrowings availed from banks and financial institutions. The repayment/prepayment will help to reduce the outstanding indebtedness and interest costs to maintain a favourable debt-equity ratio and enable the company to further utilize funds from internal accruals for further investment in business growth and expansion. The borrowings include various loan facilities such as overdraft limits and TUF loans from ICICI Bank Limited with applicable interest rates.258
The company will utilize the net proceeds to meet additional working capital requirements driven by expansion of business operations, increase in inventory levels, rise in trade receivables, and increase in other current assets and advances. The working capital requirement is expected to increase significantly due to higher market penetration, improved capacity utilization, increased customer acquisition, and the need to maintain higher stock of raw materials, consumables, work-in-progress, and finished goods to support expanded production schedules. The company's net working capital requirement is expected to rise substantially to support future growth operations.350
The company's management will have flexibility in utilizing the proceeds earmarked for general corporate purposes to drive business growth. The purposes include funding growth opportunities, servicing repayment obligations under existing and future financing arrangements, capital expenditure including expansion/development/refurbishment/renovation of existing assets, working capital for unexpected orders, meeting expenses incurred in the ordinary course of business, strategic initiatives, and ongoing general corporate exigencies or any other purposes as approved by the Board subject to compliance with necessary regulatory provisions.155
The company will utilize a portion of the gross proceeds to meet issue related expenses including underwriting and management fees, printing and distribution expenses, advertisement expenses, legal fees, listing fees, registrar fees, regulatory fees, peer review auditor and secretarial consultant fees, legal advisor fees, market maker fees, and other miscellaneous professional fees and charges associated with the public issue.93
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  • Experienced Promoters and Management Team: The company's promoters and management team possess extensive industry experience and have been responsible for the growth of operations and financial performance. The promoter, Mr. Gautam Vallabhbhai Sihora, brings over 17 years of experience in the specialized textile sector and has guided the company's shift from traditional lace and tape manufacturing to an integrated textile solutions provider.
  • Consistency in Quality Standards: The company follows stringent quality standards in its manufacturing unit to ensure products meet required customer standards. The company maintains an in-house quality control mechanism carried out by skilled operators under proper quality control and strict supervision, with comprehensive final inspection conducted on representative samples before packaging.
  • Strategic Location of Manufacturing Unit: The company's manufacturing unit is located in Surat, Gujarat, which provides rich connectivity for logistics. Raw materials are sourced locally and are easily available from manufacturers located in Surat/Gujarat, making procurement less time consuming and comparatively cheaper due to savings on time and freight. Skilled and semi-skilled employees are easily available in Surat due to the large number of existing textile industries in the region.
  • Smooth Flow of Operations: The company has established relationships with customers and suppliers ensuring stability in demand and uninterrupted supply of raw materials. The company has maintained long-standing relationships with major customers and built a strong client base, with existing relationships helping to get repeat business from customers and maintain long-term working relationships.
  • Cost Effective Production and Timely Fulfilment of Orders: The company has taken various steps to ensure adherence to timely fulfilment and achieve greater cost efficiency at existing processing units. These include identifying quality suppliers of raw material, use of efficient production systems, and ability to meet large and varied orders due to capacity and linkages with raw material suppliers. The company enjoys good relations with suppliers resulting in timely supplies of raw materials.
  • Market Diversification: Selling products to demanding customers has gained the company valuable insights into customer trends, customer preferences and competitor strategies. The company uses such knowledge to improve product quality and processes, enhancing competitiveness both domestically and internationally. Growth oriented business has led to investment in technology upgrade, quality control, and employee training to meet industry quality standards.
  • Scalable Business Model: The company's business model is order driven and comprises optimum utilization of manufacturing and processing facilities, maximum capacity utilization, developing linkages with quality raw material suppliers and achieving consequent economies of scale. The business scale generation is due to potential development possibilities of domestic markets, by adopting aggressive marketing of products, innovation in product range and maintaining consistent quality.
  • Optimal Utilization of Resources: The company constantly endeavours to improve production processes, skill upgradation of employees, and modernization of machineries to optimize utilization of resources. The company regularly analyses existing material procurement policy and manufacturing process to identify areas of bottlenecks and correct them, helping improve efficiency and putting resources to optimal use.

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SEBI Stock Broker Registration No: INZ000006031 | Depository Participant (CDSL) ID: IN-DP-289-2016 | SEBI Research Analyst Registration No: INH000023357
Exchange Membership No. : NSE: 90133 | BSE: 6593 | MCX: 56320
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