Sihora Industries
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 17 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹66 | ₹0 |
| 16 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹66 | ₹0 |
| 15 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹66 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 10 Oct 2025 – 14 Oct 2025
- Listing date
- 17 Oct 2025
- Face value
- ₹1 per share
- Issue price
- ₹66 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹10.56 Cr
- Market cap at offer price
- ₹35.16 Cr
- Promoter holding
- 100.00% → 69.97% pre-issue → post-issue
- ISIN
- INE0SFA01011
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Sobhagya Capital Options Pvt.Ltd.
- Registered office
- Plot 34/D-1, Laxminarayan, BRC Compound, Udhna, Mangrol, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 80,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹66
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,32,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,24,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,56,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹66 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.02 | 2.01 |
| P/E (×) | 13.15 | 32.84 |
| Price to book (×) | 4.68 | — |
| Market cap | — | ₹35.16 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 35.60%
- ROCE
- 31.93%
- Debt / equity
- 0.98
- PAT margin
- 12.86%
- EBITDA margin
- 22.61%
- NAV per share
- ₹14.11
- Price to book
- 4.68
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sihora Industries
Incorporated on August 10, 2023, and converted to a public limited company in July 2024, Sihora Industries Limited is headquartered in Surat, Gujarat. The company took over the business of Sihora Narrow Fabrics (a proprietorship concern) on October 17, 2023. Sihora manufactures specialized textile products including narrow woven fabrics, laces, borders, labels, tapes, zippers, elastics, and other technical textiles. The company operates an integrated manufacturing facility in Surat equipped with rapier looms, needle looms, zipper machines, and digital printing capabilities. Sihora's business model is order-driven, focused on serving customers in fashion, apparel, packaging, and industrial sectors with high-quality customizable products. The company maintains strong relationships with both customers and suppliers, enabling timely order fulfillment and consistent quality. As of March 31, 2025, Sihora generated revenue of ₹1,456.20 lakhs with a PAT of ₹187.26 lakhs.
Company Analysis
from DRHPSihora Industries Limited is a textile manufacturing company engaged in the production of narrow woven fabrics, laces, tapes, zippers, elastics, and related textile products for the fashion and industrial sectors.
Incorporated on August 10, 2023, and converted to a public limited company in July 2024, Sihora Industries Limited is headquartered in Surat, Gujarat. The company took over the business of Sihora Narrow Fabrics (a proprietorship concern) on October 17, 2023. Sihora manufactures specialized textile products including narrow woven fabrics, laces, borders, labels, tapes, zippers, elastics, and other technical textiles. The company operates an integrated manufacturing facility in Surat equipped with rapier looms, needle looms, zipper machines, and digital printing capabilities. Sihora's business model is order-driven, focused on serving customers in fashion, apparel, packaging, and industrial sectors with high-quality customizable products. The company maintains strong relationships with both customers and suppliers, enabling timely order fulfillment and consistent quality. As of March 31, 2025, Sihora generated revenue of ₹1,456.20 lakhs with a PAT of ₹187.26 lakhs.
Objects of the Issue
- Funding Capital Expenditure towards purchase of additional plant & machinery ₹200.00 lakhs p.68
- Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks and financial Institutions ₹257.63 lakhs p.73
- To meet additional working capital requirements ₹350.00 lakhs p.79
- General Corporate Purposes p.67
Issue Structure
- Total Issue
- 16,00,000 Equity Shares aggregating to ₹[●] Lakhs
- Fresh Issue
- 16,00,000 Equity Shares of ₹10/- each at an Issue Price of ₹[●] per share
- Offer for Sale
- Not Applicable
- Price Band
- [●] (To be decided)
- Lot Size
- [●]
- Face Value
- ₹10/- per Equity Share
Business Model
Sihora operates an integrated textile manufacturing business with end-to-end capabilities spanning yarn processing, weaving, digital printing, dyeing, and finishing. The company follows an order-driven business model focused on optimal capacity utilization and economies of scale. Revenue is generated through the sale of: (1) Narrow Woven Fabrics (labels, laces, borders, suit and dupatta fabric) - 55.20% of FY2025 revenue; (2) Zippers and zipper components - 28.55%; (3) Laces and borders - 15.77%; and (4) Elastics - 0.48%. The company serves branded and non-branded customers across fashion, packaging, and industrial sectors, operating on purchase-order basis without long-term supply contracts.
Business Segments
SWOT Analysis
- • Experienced promoters with deep industry expertise(p.117)
- • Strong quality control standards and consistency(p.115)
- • Strategic location with logistics connectivity and skilled labor availability(p.116)
- • Integrated manufacturing facility with end-to-end capabilities(p.102)
- • Diversified product portfolio(p.117)
- • Scalable and order-driven business model(p.116)
- • Single manufacturing facility with no geographic diversification(p.21)
- • High concentration of revenue from limited number of customers(p.21)
- • Dependence on limited number of suppliers without long-term agreements(p.22)
- • Reliance on non-owned premises(p.23)
- • High working capital requirements(p.25)
- • Limited product range concentrated in specialized textiles(p.29)
- • Expansion into technical textiles and specialized applications(p.118)
- • Growth in India's textile industry projected at 10% CAGR to US$350 billion by 2030(p.96)
- • Government support through Production Linked Incentive schemes(p.98)
- • Development of technical textiles as high-growth segment(p.97)
- • Capacity expansion and modernization investments(p.118)
- • India's positioning as global textile manufacturing hub(p.96)
- • Geographic concentration risk in single location(p.21)
- • Disruption risk from single manufacturing facility(p.21)
- • Supply chain disruptions affecting raw material availability(p.118)
- • Raw material price volatility and polyester yarn dependency(p.26)
- • Economic slowdown impacting demand(p.118)
- • Intense competition from fragmented and organized players(p.118)
- • Changing customer preferences and market trends(p.118)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Gautam Vallabhbhai Sihora | Promoter | 84.05% | 58.81% |
| Priyal Gautamkumar Sihora | Promoter | 15.78% | 11.04% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.