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  1. Pushpa Jewellers to Cedaar Textile: Five SME IPOs open for subscription; check complete overview

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Pushpa Jewellers to Cedaar Textile: Five SME IPOs open for subscription; check complete overview

Upstox

6 min read | Updated on June 30, 2025, 17:16 IST

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SUMMARY

As many as five SME IPOs are open for subscription today. Pushpa Jewellers, Cedaar Textile, Silky Overseas, Marc Loire Fashions and Vandan Foods plan to raise over 241 crore from investors. IPO will close for subscription on July 2, while the tentative listing date is July 7.

SME-IPOs (1).webp

Vandan Foods Limited is engaged in the manufacturing of castor oil and its derivatives.

Five SME IPOs open for subscription on June 30, 2025 capitalising on strong momentum witnessed in the primary markets in recent weeks. Pushpa Jewellers, Cedaar Textile, Silky Overseas, Marc Loire Fashions and Vandan Foods plan to raise over ₹241 crore through public issue.

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These five SME IPOs will remain open for subscription till July 2. Followed by IPO allotment on July 3 and tentative listing date of July 7.

Here’s detailed breakdown of SME IPOs opening for subscription today:

Pushpa Jewellers (Issue size: ₹98.6 crore)

Established in 2009, Pushpa Jewellers specialises in traditional and modern gold jewellery with intricate detailing using premium stones like Emerald, Jade, Pearl, and Meena. The company operates through B2B model as well as retail showrooms. The company currently has three branches which are office-cum-showrooms in Hyderabad, Bangalore, and Chennai and plans to add more branches in key locations such as Vijayawada.

IPO objective

  • Capital Expenditure: The company will use ₹5.35 crore to set up new showrooms.
  • Working capital: The company will use ₹45.39 crore towards working capital expenses.
  • General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives.

Financial snapshot

(In Crs)FY23FY24FY25
Revenue165.80255.34281.06
Total Assets43.3951.4691.10
PAT8.1413.5822.29
EBITDA12.8319.8831.76

Marc Loire Fashions (Issue size: ₹21 crore)

Incorporated in 2014, Marc Loire Fashions offers widerange of women footwear products under the brand name 'MARC LOIRE'. The company offers an impressive catalogue of 800+ unique styles footwear including party heels, ethnic flats, wedges, winter boots, formal heels, loafers, cork sandals etc. The company sells products through multiple channels including e-commerce platforms, its own website, shop-in-shop stores, and wholesale distribution.

IPO objective

  • Capital expenditure: The company will use ₹5.66 crore to open 15 new stores and multi-purpose racks.
  • Working capital: The company will use ₹9.35 crore towards business working capital requirements
  • General corporate purposes: The company will spend ₹3.73 Cr for general corporate purposes.

Financial snapshot

(In Crs)FY23FY24FY25
Revenue37.4240.2042.26
Total Assets12.9917.0222.24
PAT0.664.084.71
EBITDA0.875.346.30

Vandan Foods (Issue size: ₹30.3 crore)

Incorporated on December 2015, Vandan Foods Limited is engaged in the manufacturing of castor oil and its derivatives. The company operates under a robust B2B model with a strong domestic market presence. Its core product is refined F.S.G. castor oil, a high-grade, non-volatile fatty oil, which is used as cosmetic, in pharma products, lubricants, paints and more.

IPO objective

  • Expansion of existing facility: The company will use ₹8.29 crore for expansion of the Dhinoj facility.
  • Repayment of loan: The company will use ₹3 crore to repay outstanding borrowings
  • Working capital: The company plans to allocate ₹8.57 crore towards funding its working capital needs.
  • General Corporate Purposes: The company will spend ₹7.51 crore towards its general corporate purposes.
  • Issue expenses: The company will use ₹2.98 crore towards IPO issue expenses

Financial snapshot

(In Crs)FY22FY23FY249MFY25
Revenue1.4711.5948.7372.66
Total Assets4.204.7312.1131.68
PAT(0.11)0.642.644.53
EBITDA(0.07)0.993.646.92

Cedaar Textile (Issue size: ₹60.9 crore)

Cedaar Textile, incorporated in 2020, emphasises sustainability as its prime focus, offering 100% organic and recycled fibres (polyester & cotton). The business operates through six separate yarn verticals: melange yarn & dyed yarns, speciality yarn, yarn range for sweaters, raw white yarns, yarn dyed in cone dyeing, and sustainable products. The company serves 3 main customer categories: domestic customers (22% of revenue), dealers, including domestic and overseas (43%), and export customers (35%).

IPO objective

  • Capital expenditure: The company will use ₹25 crore to modernise its machines and solar PV rooftop system.
  • Working capital: The company will use ₹24.90 crore to meet working capital requirements.
  • General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives.

Financial snapshot

(In Crs)FY22FY23FY249MFY 25
Revenue217.40160.25189.68112.03
Total Assets154.45175.84198.23222.77
PAT7.994.5911.057.06
EBITDA15.2615.6328.8119.59

Silky Overseas (Issue size: ₹₹30.6 crore)

Silky Overseas Limited, established in 2016 and headquartered in Delhi, is a home textile manufacturer with an integrated facility in Sonipat, Haryana. The company specialises in manufacturing blankets, bedsheets, comforters, and curtains, with operations spanning knitting, dyeing, printing, and packaging under one roof. Mink blankets are the flagship product, contributing over 30% of revenues.

IPO objective

  • Setting up of additional storage facility: The company proposes to use ₹4.30 crore to set up a new manufacturing facility.
  • Repayment of loans: ₹3 crore will be used to repay certain outstanding debt.
  • Working capital: The company plans to allocate ₹12 crore towards working capital needs.
  • General corporate purposes: Part of the IPO proceeds will be used for general corporate purposes and strategic initiatives.

Financial snapshot

(In Crs)FY22FY23FY24
Revenue50.1268.3169.70
Total Assets37.0740.7050.69
PAT(0.42)0.985.53
EBITDA2.975.3511.01
To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page.
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