Rajkot-based textile manufacturing and export company Kian-M Export Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
The company is preparing to raise funds through an Initial Public Offering (IPO). The proposed issue will include a fresh issue of up to ₹500 crore and an Offer for Sale (OFS) of up to 15 lakh equity shares.
Focus on Textile Processing
Kian-M Export is engaged in textile manufacturing and exports. The company processes raw, unfinished fabric, commonly known as grey or greige fabric.
Its manufacturing process includes preparation, dyeing or printing and finishing. The company uses modern machinery to produce fabrics at scale.
Kian-M Export supplies fabrics to wholesalers, garment manufacturers and brands. Its products are also used for different types of traditional and contemporary clothing.
The company’s product portfolio includes Kitenge and Kanga fabrics. These African print fabrics are widely used across several African countries.
The company also produces fabrics for modern garments such as shirts. Its portfolio includes fabrics for South Asian ethnic and traditional clothing, including salwar kameez and suits. It also manufactures cotton sarees on a white-label basis and under its own brand, Revelo.
Proposed Use of Funds
The fresh issue proceeds are proposed to be used for several business requirements.
A portion will be used to meet the company’s working capital needs. The company also plans to use funds towards the acquisition of a 35.29% stake in Ultra Denim Limited.
Capital expenditure is another planned use. This includes the purchase of machinery and equipment for Kian-M Export.
The company also proposes to invest in its material subsidiary, UCL, for capital expenditure related to machinery and equipment. The remaining funds are proposed to be used for general corporate purposes.
Two Facilities in Rajkot
Kian-M Export operates through two manufacturing facilities in Rajkot, Gujarat.
One facility is leased by Kian-M Export and is referred to as the Kian-M Export Facility. The second facility is leased by its wholly owned subsidiary, Usha Cotton Limited.
The company’s manufacturing operations incorporate a zero-liquid discharge system. Wastewater generated during production is treated through an effluent treatment plant.
The treated water is then recovered and reused within the facility. The process is designed to prevent liquid effluent from being discharged into the environment.
Revenue and Exports
For the financial year ended March 31, 2026, Kian-M Export reported revenue of ₹383.01 crore. Its Profit After Tax (PAT) stood at ₹42.19 crore.
Exports accounted for 52.43% of total revenue. Domestic sales contributed the remaining 47.57%.
The company also holds several certifications linked to quality, environmental management, occupational safety and textile sustainability.
These include ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications. The company has also completed the Higg Index self-assessment and holds certifications including Global Organic Textile Standard, Global Recycled Standard and Organic Content Standard.
Mirae Asset Capital Markets (India) Private Limited is the Book Running Lead Manager to the proposed issue. MUFG Intime India Private Limited is the registrar.
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