Siddhi Cotspin IPO listing today. Check GMP ahead of debut
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Siddhi Cotspin will make its market debut on September 26 after closing its Rs 70 crore IPO with moderate demand. The issue, which comprised a fresh issue of Rs 53.4 crore and an offer for sale of Rs 16.46 crore, was subscribed 4.2 times overall. Despite a decent subscription, the IPO is showing no premium in the grey market ahead of listing. IPO subscription details The qualified institutional buyer (QIB) category drove the bulk of demand with 17.5 times subscription, while non-institutional investors (NII) subscribed 5.9 times. The retail category saw comparatively lower participation at 1.5 times. Company Profile Siddhi Cotspin manufactures and sells a wide range of cotton yarns, including compact carded and combed hosiery yarns, weaving yarns, Eli yarns, slub and siro slub yarns, and Lycra-core spin yarn. It also produces TFO double yarn for enhanced strength and durability. Its customers include textile manufacturers, garment exporte...