Rudra Cottex IPO
Rudra Cottex Limited has filed a draft red herring prospectus (DRHP) with SEBI for a mainboard IPO, a fresh issue only. As of SEBI's report dated 30 October 2026, the draft is under SEBI review. The draft proposes a fresh issue only of up to 1,25,00,000 shares, with no offer for sale. In FY26 the company made a profit of ₹32.99 crore on revenue of ₹345.33 crore. The price band, lot size and IPO dates are not announced yet.
- Status
- Under SEBI reviewSEBI report, 30 Oct 2026
- SEBI received draft
- 19 Sep 2026
- Type of issue
- Fresh issue only
- Lead manager
- Beeline Capital Advisors Private Limited
- Last SEBI contact
- 29 Oct 2026
- Price band and dates
- Not announced
Where it stands
Rudra Cottex IPO: where it stands
SEBI processing status, 30 Oct 2026- Draft filed with SEBI19 Sep 2026
- SEBI reviewUnder SEBI review
- SEBI observations
- RHP and price bandNot yet
- Bidding and listingNot yet
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process.
SEBI received the draft on 19 September 2026, 48 days ago, and its last communication on the draft was on 29 October 2026 (day count is our calculation).
DRHP at a glance
Rudra Cottex DRHP at a glance
Draft red herring prospectus, 17 Sep 2026What the company's draft offer document says. Figures can change in the red herring prospectus, and nothing here is a review or a recommendation.
The business
DRHP, Our Business (p. 243) and Risk Factors (p. 24 to 29)Rudra Cottex spins cotton yarn. It buys cotton bales from ginners, traders, agents and a government corporation, mostly in Gujarat, and turns them into yarn, including EliTwist compact yarn. It also trades in cotton bales and cotton yarn.
It has one plant at Kadjodara, Dehgam, Gandhinagar district, Gujarat, with 27,360 spindles and about 9,307.50 tonnes of yarn capacity a year as of 31 March 2026. Sales through traders and agents gave 87.12% of FY26 revenue. It was incorporated in 2016 and is based in Ahmedabad.
The offer
DRHP cover page and The Issue (p. 66)| Fresh issue | Up to 1,25,00,000 shares₹ amount set with the price; money goes to the company |
| Shares before the IPO | 3,65,15,000The fresh issue equals about 34.2% of them (ours) |
| Pre-IPO placement | Amount not setOptional; would reduce the fresh issue |
| Listing | BSE and NSEMainboard, under Regulation 6(1) |
| Lead manager | Beeline Capital Advisors Private Limited |
| Registrar | KFin Technologies Limited |
| Promoters | Rahulkumar Abji Dholu, Radheshyam Parshottambhai Pokar and Patel Nilesh Kumar Babubhai |
What the company plans to do with the money
DRHP, Objects of the Issue (p. 119)| Object | ₹ crore |
|---|---|
| Civil works and machinery to expand the plant | 48.00 |
| Repaying or prepaying certain borrowings | 37.00 |
| General corporate purposes (set later, up to 25% of the gross proceeds) |
Amounts are what the net proceeds will fund. The named objects add to ₹85 crore (our sum). The fresh issue size in ₹ is set with the price, so each object's share is not shown yet.
Financials
DRHP, Summary of Restated Financial Information (p. 70 to 72) and Basis for the Issue Price (p. 154 to 155), ₹ crore| ₹ crore | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue from operations | 222.35 | 276.18 | 345.33 |
| EBITDA | 32.01 | 53.94 | 64.82 |
| EBITDA margin | 14.40% | 19.53% | 18.77% |
| Profit after tax | 10 | 23.90 | 32.99 |
| Diluted EPS (₹) | 3.22 | 7.71 | 10.64 |
| Net worth | 71.84 | 95.68 | 128.77 |
| Cash from operations | 18.09 | 28.79 | 8.34 |
| Return on equity | 14.93% | 28.53% | 29.40% |
| Debt to equity | 1.37 | 0.91 | 0.89 |
Restated figures. Net worth is total equity. Revenue grew 24.62% a year from FY24 to FY26 (DRHP, p. 153).
Listed peers named in the draft
DRHP, Basis for the Issue Price (p. 155 to 156). Peer prices as of 31 Jul 2026 on NSE.The P/E for Rudra Cottex is not given until the price band is set.
| Company | Diluted EPS (₹) | P/E | RoNW |
|---|---|---|---|
| Rudra Cottex (FY26) | 10.64 | Set with the price band | 25.62% |
| Aastha Spintex | 7.51 | 10.15x | 14.80% |
| Ambika Cotton Mills | 125.00 | 13.69x | 7.50% |
| Shiva Texyarn | 7.88 | 20.84x | 14.44% |
Risks the draft lists first
DRHP, Risk Factors (p. 24 to 30)- Customer concentrationThe largest customer gave 42.26% of FY26 revenue and the top ten 96.17%. (Risk factor 1, p. 24)
- Supplier concentrationThe top ten suppliers gave 60.40% of FY26 purchases. (Risk factor 2, p. 25)
- Input costsCotton bales and electricity cost 42.38% of FY26 revenue, so price rises hurt margins. (Risk factor 4, p. 27)
- Product focusMuch of the revenue comes from EliTwist compact yarn and trading cotton bales and yarn. (Risk factor 5, p. 28)
- Traders and agentsSales through traders and agents gave 87.12% of FY26 revenue. (Risk factor 6, p. 29)
- Single plantAny shutdown at its one manufacturing facility would hurt the business. (Risk factor 7, p. 30)
Documents
Rudra Cottex DRHP and documents
SEBI filingsThe DRHP has the issue size, use of the money, financials, promoters and risk factors. It can change before the final red herring prospectus.
Questions
Rudra Cottex IPO FAQs
When will the Rudra Cottex IPO open?
The date is not announced. The company first needs SEBI's observations on its draft, then files a red herring prospectus with the dates. SEBI received the draft 48 days ago (our calculation).
Has SEBI approved the Rudra Cottex IPO?
SEBI is examining the draft offer document. This is SEBI's own list of drafts under process. Source: SEBI processing status as on 30 October 2026.
What is the Rudra Cottex IPO price band and lot size?
Not announced. The price band is published at least two working days before the IPO opens, and the lot size is set with it. We add both here the day they are filed.
What is the Rudra Cottex IPO GMP?
We do not publish a GMP. Grey market premium is unofficial: it is not regulated by SEBI and not published by any exchange. Before the price band is announced there is no issue price to compare it with.
Who is the lead manager of the Rudra Cottex IPO?
Beeline Capital Advisors Private Limited is the coordinating book running lead manager named in SEBI's processing status report. The DRHP lists all the lead managers and the registrar.
What will Rudra Cottex do with the IPO money?
According to the DRHP, the fresh issue money goes to civil works and machinery to expand the plant (₹48.00 crore), repaying or prepaying certain borrowings (₹37.00 crore), and the rest to general corporate purposes.
What does Rudra Cottex do?
Rudra Cottex spins cotton yarn. It buys cotton bales from ginners, traders, agents and a government corporation, mostly in Gujarat, and turns them into yarn, including EliTwist compact yarn. It also trades in cotton bales and cotton yarn.
Where can I read the Rudra Cottex DRHP?
On SEBI's website, where the draft red herring prospectus was published on 29 September 2026. The draft is dated 17 September 2026 and runs to 474 pages. It has the issue size, use of the money, financials and risk factors.
Sources: SEBI processing status of draft offer documents as on 30 October 2026, SEBI's yearly processing status archive and SEBI's list of draft offer documents, and the company's DRHP dated 17 September 2026. Day counts and the last date to open are our calculations. This page is information only, not a recommendation.