Kian-M Export files for ₹500 crore IPO to fund textile capacity and Ultra Denim stake
Rajkot-based textile processor Kian-M Export has filed draft papers for a ₹500 crore fresh issue and an offer for sale of up to 15 lakh shares. Proceeds are earmarked for working capital, machinery, Usha Cotton capex and acquisition of a 35.29% stake in Ultra Denim.
What happened
Rajkot textile processor Kian-M Export filed IPO papers for a ₹500 crore fresh issue plus an OFS. Funds will support working capital, machinery, Usha Cotton
Key facts
- ₹500 crore fresh issue
- OFS of up to 15 lakh equity shares
- 35.29% stake acquisition in Ultra Denim
- FY ended March 31, 2026 revenue: ₹383.01 crore
- FY ended March 31, 2026 PAT: ₹42.19 crore
What changed
Rajkot textile processor Kian-M Export filed IPO papers for a ₹500 crore fresh issue plus an OFS. Funds will support working capital, machinery, Usha Cotton capex and acquisition of a 35.29% stake in Ultra Denim.
Why this matters
Kian-M’s planned IPO funding could expand textile processing capacity and strengthen denim supply availability for apparel retailers.
What to watch
- SEBI observations, final DRHP terms, issue size and pricing.
- IPO subscription quality, anchor participation and post-listing trading performance.
- Completion terms and governance rights associated with the 35.29% Ultra Denim stake.
- Capacity addition timeline, utilization rates and machinery commissioning milestones.
- Cotton prices, dyeing chemicals, power costs and working-capital days.