K K Silk Mills
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 03 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹38 | ₹0 |
| 02 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹38 | ₹0 |
| 01 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹38 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 26 Nov 2025 – 28 Nov 2025
- Listing date
- 03 Dec 2025
- Face value
- ₹1 per share
- Issue price
- ₹38 per share
- Lot size
- 3,000 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹28.50 Cr
- Market cap at offer price
- ₹85.27 Cr
- Promoter holding
- 99.80% → 66.44% pre-issue → post-issue
- ISIN
- INE0EOJ01014
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Axial Capital Pvt.Ltd.
- Registered office
- 314, Kewal Industrial Estate, S.B.Road, Delisle Road, Lower Parel (W), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 3,75,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹38
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,14,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,28,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,12,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,26,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹38 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.13 | 2.70 |
| P/E (×) | 12.14 | 14.07 |
| Price to book (×) | 1.43 | — |
| Market cap | — | ₹85.27 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 11.79%
- ROCE
- 12.44%
- Debt / equity
- 1.49
- PAT margin
- 2.11%
- EBITDA margin
- 6.34%
- NAV per share
- ₹26.59
- Price to book
- 1.43
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About K K Silk Mills
K K Silk Mills Limited is engaged in the manufacturing of knitted fabrics and garments. The company produces fabrics using varieties such as 100% cotton, 100% polyester, blended (cotton and polyester), and printed polyester fabrics. These materials are used to manufacture a range of garment products spanning all age groups including kids wear, men's wear (formal and casual shirts, sherwanis), and women's wear (dress materials, burqas, cushion covers). The company manufactures fabrics used across diverse applications and sells knitted fabrics to both domestic and international garment manufacturers. The company was originally incorporated as Manish Weaving Industries Private Limited on August 26, 1991, and was later renamed to K.K. Silk Mills Limited. The company operates one manufacturing facility located at Umbergaon, Valsad, Gujarat.
Company Analysis
from RHPK K Silk Mills manufactures knitted fabrics and garments spanning kids wear, men's wear, and women's wear categories.
K K Silk Mills Limited is engaged in the manufacturing of knitted fabrics and garments. The company produces fabrics using varieties such as 100% cotton, 100% polyester, blended (cotton and polyester), and printed polyester fabrics. These materials are used to manufacture a range of garment products spanning all age groups including kids wear, men's wear (formal and casual shirts, sherwanis), and women's wear (dress materials, burqas, cushion covers). The company manufactures fabrics used across diverse applications and sells knitted fabrics to both domestic and international garment manufacturers. The company was originally incorporated as Manish Weaving Industries Private Limited on August 26, 1991, and was later renamed to K.K. Silk Mills Limited. The company operates one manufacturing facility located at Umbergaon, Valsad, Gujarat.
Objects of the Issue
- Funding towards capital expenditure for plant & machineries including installation, mechanical and electrical work ₹314.73 Lakhs p.20
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company ₹1,786.42 Lakhs p.20
- General Corporate Purposes p.20
- Funding towards capital expenditure for replacement of plant & machineries ₹314.73 lakhs p.89
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company ₹1,786.42 lakhs p.89
- General Corporate Purpose [●] p.89
- Objects of the Offer not specified in this part of the document
Issue Structure
- Total Issue
- Upto 7500000 Equity Shares aggregating to ₹[●] Lakhs
- Fresh Issue
- Upto 7500000 Equity Shares aggregating to ₹[●] Lakhs
- Offer for Sale
- Not Applicable
- Price Band
- Price band of a minimum price of ₹[●] per Equity Share (Floor Price) and the maximum price of ₹[●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10.00 each
Business Model
The company manufactures knitted fabrics and garments using raw materials such as yarn, fabrics, and accessories. Revenue is generated from the sale of manufactured garments and knitted fabrics to both domestic and international garment manufacturers on a purchase order basis. Raw material consumption represents 88.12% to 90.7% of revenue from manufacturing activities.
Business Segments
SWOT Analysis
- • Manufacturing scale and facility(p.20)
- • High capacity utilization(p.34)
- • Diverse product portfolio across demographics(p.20)
- • Long operating history(p.2)
- • Diversified customer base across varied end-use industries with long-standing relationships(p.99)
- • Experienced promoters with combined experience of more than 5 decades in textile industry(p.100)
- • Strong manufacturing base with installed capacity of 20,000,000 MTR at Umbergaon, Valsad(p.100)
- • High capacity utilization reaching 95.98% as of March 31, 2025(p.91)
- • Focus on quality and customer service as key competitive advantage(p.100)
- • Diversified product portfolio reducing dependence on single product or market(p.99)
- • Experienced promoter and management with 50+ years combined textile expertise(p.124)
- • Diversified product portfolio across fabrics and garments covering all age segments(p.127)
- • Strong focus on quality control with strict quality checks before delivery(p.124)
- • Established customer relationships generating repeat business(p.127)
- • High capacity utilization exceeding 95%(p.140)
- • Established textile manufacturing with 33+ years industry experience(p.173)
- • Integrated manufacturing and garment production capability(p.210)
- • Multi-product portfolio serving diverse customer segments(p.210)
- • Revenue growth trajectory with improving profitability(p.217)
- • Stable promoter ownership and management continuity(p.173)
- • Customer concentration risk(p.30)
- • Supplier concentration risk(p.30)
- • High debt levels(p.33)
- • Past compliance failures(p.29)
- • Unregistered intellectual property(p.34)
- • Litigation involving Company Secretary(p.28)
- • High raw material cost dependence(p.31)
- • Labour-intensive operations with retention risks(p.31)
- • High concentration of revenue from top 10 customers at 81.07% for three months ended June 30, 2025(p.99)
- • Significant short-term borrowings of ₹5,868.67 lakhs as at June 30, 2025(p.47)
- • High total outstanding debt of ₹6,682.16 lakhs as on October 31, 2025(p.94)
- • Low profitability with PAT margin of 2.11% for Fiscal 2025(p.104)
- • Relatively low return on equity of 11.79% for Fiscal 2025(p.104)
- • Non-compliance issues with regulatory requirements requiring compounding application(p.71)
- • High inventory levels creating working capital pressure(p.128)
- • High labour costs impacting profitability(p.128)
- • Significant debt burden with total borrowings of ₹6,040.61 lakhs(p.143)
- • Minimal export presence with exports representing only 0% in Q1 FY26(p.137)
- • High dependence on few major customers(p.222)
- • Elevated leverage ratio affecting financial flexibility(p.223)
- • Significant reliance on few key suppliers(p.222)
- • Gratuity accounting deficiency noted by auditors(p.181)
- • Low liquidity position with minimal cash reserves(p.184)
- • Expansion of customer base(p.30)
- • Supplier diversification(p.31)
- • Fashion trend adaptation(p.33)
- • Capacity expansion through replacement of existing Electronic Jacquard Machines with advanced CAM Drive 2688 Hooks machines(p.91)
- • Improved operational efficiency with new machinery providing higher fabric quality output (~95% vs ~85% existing)(p.92)
- • Debt reduction opportunity with ₹1,786.42 lakhs proposed towards repayment of borrowings improving debt-equity ratio(p.94)
- • Export market expansion with current sales presence in Colombo, Sri Lanka(p.99)
- • Growing textile industry demand with modernization providing competitive advantage(p.91)
- • Rapidly growing Indian textile market projected to reach US$ 350 billion by 2030(p.123)
- • Strong government support through subsidy schemes and policy initiatives(p.118)
- • Technical textiles segment expansion from US$ 29 billion (FY24) to US$ 123 billion by 2035(p.118)
- • Ready-made garment exports projected to surpass US$ 30 billion by 2027 at 12-13% CAGR(p.121)
- • PM MITRA Parks scheme attracting investments of Rs. 85,370 crore with world-class infrastructure(p.122)
- • China Plus One strategy driving apparel exports with 9-11% growth expected in FY26(p.121)
- • Expansion of manufacturing capacity and production capabilities(p.211)
- • Growing domestic textile and garment market demand(p.210)
- • Export market penetration and international sales growth(p.200)
- • Enhancement of working capital efficiency and inventory management(p.217)
- • Raw material price volatility(p.31)
- • Geographic revenue concentration(p.29)
- • Competitive pressure from organized and unorganized sector(p.33)
- • Industry-wide disruptions and capacity utilization(p.33)
- • Power supply dependency(p.35)
- • COVID-19 pandemic and future health emergencies(p.42)
- • Foreign exchange fluctuation exposure(p.39)
- • Subject to environmental, health and safety laws with potential for curtailment of operations or material increase in costs(p.43)
- • Risk of delays or failure in stock exchange listing approval(p.43)
- • Changes in tax rates and levies impacting financial performance(p.43)
- • Foreign investment restrictions limiting ability to attract foreign investors(p.43)
- • Global economic and political factors beyond company control affecting performance(p.43)
- • Civil disturbances, natural calamities and regional conflicts causing operational interruptions(p.43)
- • Terrorist attacks and civil unrest adversely affecting financial markets and business(p.44)
- • Intense competition from fragmented local and organized large players(p.135)
- • Increased Competition from Local and Big Players(p.128)
- • Fluctuations in raw material prices directly impacting production costs(p.128)
- • Global economic slowdown with growth projected at 2.3% in 2025, slowest since 2008(p.113)
- • Rising trade policy uncertainty and protectionism affecting global supply chains(p.113)
- • Foreign Exchange volatility and tariff volatility impacting export competitiveness(p.115)
- • Intense competition from unorganized sector and regional players(p.211)
- • Volatility in raw material costs and input prices(p.211)
- • Dependency on skilled labor availability(p.211)
- • Regulatory and compliance risks in textile industry(p.211)
- • Economic and market cyclicality affecting textile demand(p.211)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Manish Kantilal Shah | Promoter | 3848600 shares (25.76%) | — |
| Mr. Nilesh Kantilal Jain | Promoter | 5436336 shares (36.39%) | — |
| Mrs. Asha Manish Shah | Promoter | 3780064 shares (25.30%) | — |
| Mr. Manish Kantilal Shah | Promoter | 25.76% | [●] |
| Mr. Nilesh Kantilal Jain | Promoter | 36.39% | [●] |
| Mrs. Asha Manish Shah | Promoter | 25.30% | [●] |
| Mrs. Pinky Nilesh Shah | Promoter Group | 5.86% | [●] |
| Mr. Harshil Manish Shah | Promoter Group | 1.80% | [●] |
| Mr. Muktik Shah | Promoter Group | 3.92% | [●] |
| Mr. Manish Kantilal Shah | Promoter/Managing Director | — | — |
| Mr. Nilesh Kantilal Jain | Promoter/Whole Time Director | — | — |
| Mr. Manish Kantilal Shah | Promoter and Managing Director | 3,848,600 equity shares / 25.77% | — |
| Mr. Nilesh Kantilal Jain | Promoter and Whole-Time Director | 5,436,336 equity shares / 36.41% | — |
| Mrs. Asha Manish Shah | Promoter and Non-Executive Director | 3,780,064 equity shares (calculated from total promoter holding) / 25.35% | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.