Here are the complete details of Cedaar Textile Limited IPO:
| Event | Date |
|---|---|
| Anchor Investor Bidding | June 27, 2025 |
| Opening Date | June 30, 2025 |
| Closing Date | July 2, 2025 |
| Allotment Date | July 3, 2025 |
| Refund/Demat Credit | July 4, 2025 |
| Listing Date | July 7, 2025 |
Cedaar Textile Limited IPO Details
- Face Value: ₹10 per share
- Price Band: ₹130 to ₹140 per share
- Minimum Investment: ₹1.4 lakh (1 lot)
- Shares Issued: 43.5 lakh (fresh issue)
- Total Issue Size: ₹60.90 crore
- Listing Exchange: NSE Emerge
- Use of Funds: Solar power, capex, working capital
GMP of Cedaar Textile Limited IPO
The Grey Market Premium (GMP) for the Cedaar Textile Limited IPO is currently:
- ₹9, indicating potential listing around ₹149 (6.4% above the upper price band of ₹140).
Promoters of Cedaar Textile Limited
The company is led by four primary promoters, all of whom also serve as directors:
- Mr. Rajesh Mittal
- Mr. Virender Goyal
- Ms. Bachangada Monnappa Saraswathi
- Mr. Monnappa Nachappa Bachangada
Mr. Rajesh Mittal
- Role: Promoter & Managing Director
- DIN: 08702551
- Board Tenure: Since incorporation on 28 September 2020
- Background: Textile industry veteran with decades of experience (part of a leadership duo with Goyal that claims a combined 63 years in textiles)
Mr. Virender Goyal
- Role: Promoter & Director
- DIN: 08702573
- Board Tenure: Since 28 September 2020
- Background: Senior figure in the textile sector; part of the core promoter-group founding Cedaar in 2020
Ms. Bachangada Monnappa Saraswathi
- Role: Promoter & Director
- DIN: 00205250
- Board Tenure: Since 28 September 2020
- Background: Brings operational oversight; also serves on other textile and apparel boards
Mr. Monnappa Nachappa Bachangada
- Role: Promoter & Director
- DIN: 00205392
- Board Tenure: Since 28 September 2020
- Background: Experienced across textile manufacturing and apparel industries; holds directorships in 5 companies
Experience & Domain Expertise
- Rajesh Mittal & Virender Goyal: Together bring deep domain expertise (~63 years combined) in spinning, dyeing, and textile processes.
- Bachangada Saraswathi & Monnappa Bachangada: Contribute leadership insights across multiple textile ventures, enhancing governance and operational efficiency.
Summary Table
| Promoter Name | Role | DIN | Since | Notes |
|---|---|---|---|---|
| Rajesh Mittal | Promoter & MD | 08702551 | Sep 28, 2020 | Veteran in textile manufacturing |
| Virender Goyal | Promoter & Director | 08702573 | 28, Sep 2020 | Senior industry experience |
| Bachangada M. Saraswathi | Promoter & Director | 00205250 | Sep 28, 2020 | Experienced director in textiles/apparel |
| Monnappa N. Bachangada | Promoter & Director | 00205392 | 28, Sep 2020 | Multi-company textile operation leadership |
Post-IPO, the promoter group remains firmly in control with ~69% equity, and SEBI-mandated lock-ins provide minority investor protection.
Cedaar Textile Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹1,40,000 |
| Retail (Max) | 1 | 1000 | ₹1,40,000 |
| HNI (Min) | 2 | 2,000 | ₹2,80,000 |
Cedaar Textile Limited IPO Promoter Holding
Founding & Structure:
- Incorporated on 28 September 2020 as a private entity, converted to a public limited company on 23 August 2024.
Pre‑IPO Shareholding:
- The four promoters held 100% of equity, comprising approximately 95.29 lakh shares.
Post‑IPO Shareholding:
- Promoter holding expected to reduce to approx. 68.66%, retaining 94.78 lakh shares out of a total 1.38 crore post-issue shares .
Lock‑in Conditions:
- Anchor allocation (≈7.82 lakh shares) subject to:
- 50% locked-in for 30 days (until ~Aug 26, 2025).
- Remaining 50% locked-in for 90 days (until ~Oct 25, 2025).
About Cedaar Textile Limited
- Incorporated: September 28, 2020; converted to a public limited company in August 2024.
- Founders/Promoters: Rajesh Mittal (MD), Virender Goyal, Bachangada Monnappa Saraswathi, Monnappa Nachappa Bachangada.
Products & Manufacturing Capabilities
- Global Reach: Domestic clients in Ludhiana, Delhi, Kanpur, Bhilwara, Mumbai, Tiruppur, and exports to Bangladesh, Egypt, Sri Lanka, Korea, Portugal, Italy, South Africa, Latin America
Yarn Portfolio:
- Melange, solid top‑dyed, grey fancy, raw white, sweater, cone‑dyed, and eco‑friendly yarns.
- Made from cotton, polyester, viscose, acrylic, Tencel, modal, and specialty fibers.
Final Perspective
Cedaar Textile stands out as a modern, sustainability-driven SME in the yarn and textile sector. Strong financial momentum and strategic investments in green energy, forward integration, and global outreach underpin its growth potential.
However, investors should monitor commodity cycles, energy dynamics, and the execution of capacity expansion plans.
Cedaar Textile Limited Financial Information
Here’s a comprehensive overview of Cedaar Textile Limited financial performance, based on audited results and restated financials:
| Period | Revenue from Operations | EBITDA | Profit After Tax (PAT) | Net Worth | Total Assets | Total Debt | EPS (₹) |
|---|---|---|---|---|---|---|---|
| 2021–22 | 217.40 | 15.26 | 7.99 | 9.59 | 154.45 | 121.00 | 10.65 |
| 2022–23 | 160.25 | 15.63 | 4.59 | 14.18 | 175.84 | 137.00 | 6.12 |
| 2023–24 | 189.68–191.01* | 28.81 | 11.05 | 25.23 | 198.22 | 146.14 | 14.73 |
| 2024–25 | 78.15 (annualized 156.30) | 13.35 (annualized 26.70) | 5.08 (annualized 10.16) | — | 211.95 | 120.82 | — |
Key Financial Metrics & Trends
- Revenue Trends: Declined in FY23 due to market conditions, then rebounded ~18% in FY24 from FY23.
- EBITDA Growth: Nearly doubled from ₹15.6 Cr (FY23) to ₹28.8 Cr (FY24) .
- PAT Growth: Improved from ₹4.59 Cr to ₹11.05 Cr in FY24, translating to strong net margin expansion.
- EPS Surge: Jumped from ₹6.12 to ₹14.73, reflecting higher profitability.
- Cash Flow (FY24): Net positive operating cash flow of ₹4.85 Cr, marking improvement over prior years.
Balance Sheet:
- Net worth climbed from ₹14.18 Cr to ₹25.23 Cr (FY24), driven by retained earnings.
- Total assets grew to ₹198–211 Cr, while debt rose moderately (~₹146 Cr).
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 56.06% |
| ROCE | 26.90% |
| Debt/Equity | 5.79 |
| RoNW | 56.06% |
| PAT Margin | 5.83% |
| EBITDA Margin | 15.19% |
| Price to Book Value | 4.16 |
Key Observations:
- Strong RoNW and RoCE in FY24 reflect efficient use of equity and capital.
- EPS surged by 141% in FY24, indicating improved profitability.
- Steady asset base growth alongside a controlled increase in debt signals sustainable expansion.
- Improved EBITDA margin shows better operational control post-COVID recovery.
Objects of the Issue
| Object | Estimated Amount (₹ Crores) |
|---|---|
| 1. Working Capital Requirements | ₹35.00 Cr |
| 2. General Corporate Purposes | ₹4.32 Cr |
| 3. Issue-related Expenses | ₹2.00 Cr |
| Total Estimated Utilization | ₹41.32 Cr |
Strengths of Cedaar Textile Limited IPO
- Diversified Yarn Portfolio: Cedaar manufactures a wide range of yarns including mélange, solid top-dyed, fancy, and eco-friendly yarns using various fibers like cotton, polyester, viscose, Tencel, and recycled blends. This diversification reduces dependency on any one product or fiber type.
- Strong Financial Performance: The company has demonstrated consistent growth in revenue and profit, with FY24 PAT increasing to ₹11.05 crore (from ₹4.59 crore in FY23). Its RoE of 43.8% and RoCE of 26.9% indicate efficient use of capital and strong profitability.
- Modern Manufacturing Infrastructure: Operating with 55,000 spindles and a 15 MT/day dyeing facility, Cedaar’s setup is fully integrated and located across 48+ acres. Advanced machinery ensures high-quality output and scale.
- Sustainability Focus: Cedaar uses 35–40% recycled/organic fibers and generates power via a 6.4 MW rice-husk-based captive plant. It also has plans for solar PV installation and a wastewater treatment plant—important ESG credentials in today’s markets.
- Experienced Management: The promoter group, including Rajesh Mittal and Virender Goyal, has over six decades of collective experience in the textile sector. This deep domain expertise supports both operational efficiency and strategic growth planning.
- Export & Domestic Reach: Cedaar serves clients across India and exports to countries like Bangladesh, Egypt, Italy, Korea, and South Africa. This geographic spread lowers customer concentration risk.
Risks of Cedaar Textile Limited IPO
- High Working Capital Requirement: Being a manufacturing-intensive business, Cedaar requires significant working capital to manage raw material procurement, production cycles, and receivables. Any delays in funding or collections can impact operations.
- Volatility in Raw Material Prices: The company is sensitive to fluctuations in cotton and other fiber prices. Global commodity price swings could compress margins, especially since yarn pricing is highly competitive.
- Client Concentration Risk: Despite a broad market reach, a substantial portion of revenue may be dependent on a few large buyers, especially in the export market. Loss of key clients could affect revenues.
- Regulatory & Environmental Compliance: Operating in a sector that requires effluent treatment, pollution control, and labor law compliance, Cedaar must constantly adhere to environmental and safety standards. Any breach could lead to penalties or production halts.
- Debt Burden: Total debt stood at ₹146 crore as of FY24. Though it is manageable relative to the asset base, any rise in interest rates or slowdown in cash flows could increase financial pressure.
- SME Listing Risks: Being listed on NSE Emerge (SME platform), the stock may see low liquidity post-listing. SME IPOs also often have less institutional coverage and higher volatility.
Cedaar Textile Limited Contact Details
🏢 Cedaar Textile Limited – Corporate & Factory Offices
Registered Office (Bengaluru)
KSSIDC Plot No B‑34, Industrial Estate, Yelahanka New Town,
Bengaluru, Karnataka 560064, India
📞 +91 98156 10607
📧 info@cedaartextile.com
Factory / Manufacturing Unit (Punjab)
Village Akbarpur, Ahmedgarh, Dist. Sangrur,
Near Ludhiana, Punjab 148021, India
📞 +91 85588 52200
📧 kamandeep@cedaartextile.com
📇 IPO-Related Contact — Registrar & Registrar Office
Skyline Financial Services Pvt. Ltd.
D‑153A, 1st Floor, Okhla Industrial Area Phase‑I,
New Delhi, Delhi 110020, India
📞 +91 22 28511022
📧 ipo@skylinerta.com
Quick Summary:
| Office | Phone | |
|---|---|---|
| Registered Office (Bangalore) | +91 98156 10607 | info@cedaartextile.com |
| Factory (Punjab) | +91 85588 52200 | kamandeep@cedaartextile.com |
| Marketing Office (Gurugram) | — | — |
| IPO Registrar (Skyline) | +91 22 28511022 | ipo@skylinerta.com |
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