In October 2025, India’s SME IPO market sees continued activity with niche companies tapping into capital markets. Among these, Sihora Industries Limited offers a unique investment opportunity in the textile and technical fabrics segment. The company is set to open its IPO on October 10, 2025, giving investors a chance to participate in its growth story.
About Sihora Industries Ltd.
Incorporated in 2023, Sihora Industries Limited manufactures and sells narrow woven fabrics, lace, digitally printed fabrics, woven labels, tapes, zippers, elastics, and other textile products, including technical textiles for fashion and industrial applications.
The company operates an integrated manufacturing facility in Surat, Gujarat, which covers end-to-end processes, including yarn processing, weaving, digital printing, embroidery, dyeing, and finishing.
Capacity & Utilization (FY2025):
- Narrow woven fabric: Capacity 7,86,240 meters; Utilization 6,55,200 meters
- Zipper production: Capacity 5,72,460 kgs; Utilization 4,91,744 kgs
- Elastic production: Capacity 34,320 kgs; Utilisation 24,960 kgs
Key Strengths:
- Consistency in quality standards
- Strategically located manufacturing facility
- Experienced promoters and professional management team
- Smooth operations and cost-effective production
- Scalable business model with diversified market reach
Sihora Industries IPO Details
The Sihora Industries IPO is a fixed price issue of ₹10.56 crore, entirely a fresh issue comprising 16 lakh shares. The IPO will list on the BSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Oct 10, 2025 |
| IPO Close Date | Oct 14, 2025 |
| Tentative Allotment | Oct 15, 2025 |
| Initiation of Refunds | Oct 16, 2025 |
| Credit of Shares to Demat | Oct 16, 2025 |
| Tentative Listing Date | Oct 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Oct 14, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price | ₹66 per share |
| Lot Size | 2,000 shares |
| Total Issue Size | 16,00,000 shares (₹10.56 Cr) |
| Sale Type | Fresh Capital |
| Reserved for Market Maker | 80,000 shares (₹0.528 Cr) |
| Net Offered to Public | 15,20,000 shares (₹10.03 Cr) |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 37,27,400 shares |
| Shareholding Post-Issue | 53,27,400 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| Market Maker | 80,000 (5.00%) |
| NII (HNI) | 7,60,000 (47.50%) |
| Retail Investors | 7,60,000 (47.50%) |
| Total | 16,00,000 (100.00%) |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 4,000 | ₹2,64,000 |
| Retail (Max) | 2 | 4,000 | ₹2,64,000 |
| HNI (Min) | 3 | 6,000 | ₹3,96,000 |
Promoter Holding:
- Promoters: Mr. Gautam Vallabhbhai Sihora and Mrs. Priyal Gautamkumar Sihora
- Pre-IPO: 100%
- Post-IPO: 69.97%
Book Running Lead Manager: Sobhagya Capital Options Pvt. Ltd.
Registrar: Bigshare Services Pvt. Ltd.
Market Maker: Aftertrade Broking Pvt. Ltd.
Sihora Industries Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Aug 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 15.90 | 12.65 | 7.44 | 8.95 |
| Total Income | 5.86 | 15.06 | 11.62 | 12.10 |
| Profit After Tax | 0.45 | 1.87 | 0.60 | 0.30 |
| EBITDA | 1.13 | 3.29 | 1.72 | 1.17 |
| Net Worth | 5.71 | 5.26 | 3.80 | 0.13 |
| Reserves & Surplus | 1.98 | 1.53 | 2.71 | -0.37 |
| Total Borrowing | 5.71 | 5.14 | 5.30 | 3.86 |
Key Performance Indicators (KPI):
| KPI | Value |
| Market Capitalization | ₹35.16 Cr |
| ROE | 35.60% |
| ROCE | 31.93% |
| Debt/Equity | 0.98 |
| RoNW | 35.60% |
| PAT Margin | 12.86% |
| EBITDA Margin | 22.61% |
| Price to Book Value | 4.68 |
EPS & P/E
| Pre IPO | Post IPO | |
| EPS (Rs) | ₹5.02 | ₹2.01 |
| P/E (x) | 13.14 | 32.77 |
Objects of the Issue
| S.No | Objects | Expected Amount (₹ Cr) |
| 1 | Funding capital expenditure towards the purchase of additional plant & machinery | 2.00 |
| 2 | Repayment/prepayment of borrowings from banks & financial institutions | 2.58 |
| 3 | To meet additional working capital requirements | 3.50 |
| 4 | General corporate purposes | 1.55 |
Industry Outlook
The Indian textile and technical fabric industry continues to see steady demand, driven by:
- Rising consumption of industrial textiles and fashion fabrics
- Demand for narrow woven, elastic, and speciality textiles in industrial and apparel segments
- Expansion of domestic and export markets, particularly for high-quality technical textiles
- Increasing adoption of integrated manufacturing and automation for quality consistency
Sihora Industries’ end-to-end manufacturing capability and scalable operations make it well-positioned to leverage these growth opportunities.
Sihora Industries IPO: Peer Comparison
Sihora Industries IPO can be compared with peers like Trident Limited, Vardhman Textiles Limited, Raymond Limited, Welspun India Limited, and Alok Industries Limited. Reviewing these companies helps investors gauge Sihora Industries’ position in the textile and technical fabrics sector and make informed investment decisions.
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Conclusion
Sihora Industries Ltd. presents a compelling investment opportunity in the textile and technical fabrics space. With strong financial growth, robust manufacturing infrastructure, and a strategic presence in domestic and industrial markets, the IPO offers investors potential for long-term value. However, risks include market demand fluctuations, raw material price volatility, and competition in the textile sector.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
