Siddhi Cotspin lists at 20% discount on NSE Emerge

Business Sep 26, 2025

Siddhi Cotspin, an Ahmedabad-based cotton yarn maker, just listed on NSE Emerge at ₹86.40 per share—20% lower than its IPO price of ₹108.
Interestingly, there was no hype in the gray market before listing.

IPO oversubscribed over 4 times

Despite the weak debut, Siddhi Cotspin's IPO actually saw strong demand—it was oversubscribed over four times between September 19-23.
The company planned to raise nearly ₹70 crore, with a portion allocated for working capital and debt repayment.
Financially, things looked solid: profit rose to ₹13.1 crore and revenue jumped 24.7% to ₹724.5 crore in FY25, showing steady growth even as it entered the public market.