Cedaar Textile IPO Off to a Slow Start, But Retail Investors Show Early Enthusiasm
By Shishta Dutta | Updated at: Oct 27, 2025 12:19 PM IST
Mumbai, 1 July 2025: The ₹60.90 crore SME Initial Public Offering (IPO) of Cedaar Textile Limited has drawn bids for 9.03 lakh shares as of Day 2 (July 1), achieving a subscription of 0.25 times the total offer size of 36.70 lakh shares. The IPO, which opened on June 30, is set to close on July 2, 2025.
Retail Investors Dominate Early Interest with Over 57% Bid Share
By the end of Day 2, retail individual investors (RIIs) led the subscription activity, accounting for over 5.19 lakh shares across 519 applications—more than 57% of total bids so far. In contrast, no bids have been received from Qualified Institutional Buyers (QIBs) as of 3:48 p.m., a trend often reversed on the final day.
High Cut-off and Upper Band Bids Indicate Pricing Confidence
Out of the total bids, 3.66 lakh shares were placed at the cut-off price, reflecting strong interest at the top end of the pricing band. Furthermore, 8.96 lakh shares were bid at ₹140, the upper limit of the band, pointing to investor confidence in the company’s valuation.
Day 2 Subscription Snapshot Reveals Retail-Led Momentum
| Category | Applications Received | Shares Bid For |
|---|---|---|
| Qualified Institutional Buyers | – | – |
| Non-Institutional Investors (NIIs) | 19 | 3,84,000 |
| Retail Individual Investors (RIIs) | 519 | 5,19,000 |
| Total | 538 | 9,03,000 |
- Cut-off bids (Retail): 3.66 lakh shares
- Upper Band Bids (₹140): 8.96 lakh shares
- Total Subscription: 0.25x so far
IPO Snapshot
| Detail | Info |
|---|---|
| Issue Opens | June 30, 2025 |
| Issue Closes | July 2, 2025 |
| Price Band | ₹130 – ₹140 |
| Lot Size | 1,000 shares |
| Issue Size | ₹60.90 Cr (43.50 lakh shares) |
| Listing Exchange | NSE Emerge |
| Allotment Date | On or before July 3, 2025 |
| Listing Date | Tentatively July 4, 2025 |
Company Profile: Cedaar Textile Banks on Sustainability and Product Diversity
Founded in 2020 and headquartered in Bengaluru, Cedaar Textile Limited manufactures an extensive range of yarns, including raw white, mélange, solid top-dyed, and fancy grey varieties. The company works with cotton, viscose, acrylic, and recycled fiber blends, aligning its operations with sustainable and eco-conscious production methods.
Use of IPO Proceeds: Focus on Sustainability and Expansion
The funds raised from the IPO will be directed towards:
- Installation of rooftop solar power systems
- Modernisation of dyeing and spinning units
- Meeting working capital needs
- General corporate purposes
Final Day Bidding Expected to Draw Institutional and HNI Participation
With just one day left for subscription, Cedaar Textile’s IPO is expected to gather momentum, particularly from institutional and high-net-worth investors, who typically enter closer to the deadline. Subscriptions close at 5:00 p.m. on July 2, 2025.
Stay tuned for the Day 3 update and final subscription figures.
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