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Spunweb Nonwoven IPO
Spunweb Nonwoven Ltd
₹1,08,000 /1200 sharesMinimum Investment
Spunweb Nonwoven IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹96.00 | ₹151.00 | ₹55.00 (57.29%) |
Spunweb Nonwoven IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 14 Jul ‘25 - 16 Jul ‘25 | ₹2,16,000 | 1,200 | ₹90 - ₹96 |
| Issue Size | IPO Doc |
|---|---|
| 60.98Cr | RHP PDF |
Subscription rate
As of 16 Jul'25, 05:00 PM
| Qualified Institutional Buyers | 165.43x |
| Non-Institutional Investor | 364.60x |
| Retail Individual Investor | 249.00x |
| Total | 231.93x |
About Spunweb Nonwoven
Founded in
2015
Managing director
Mr. Jay Dilipbhai Kagathara
Parent organisation
Spunweb Nonwoven Ltd
Strengths & Financials of Spunweb Nonwoven
Strengths
Risks
The company claims to be the largest manufacturer in the spunbond nonwoven fabric industry in India, with an installed production capacity of 32,640 metric tonnes, as of FY24. It further states that its manufacturing operations are supported by five production lines, each focused on specific industries.
The company manufactures, markets, and sells its products in both domestic and international markets. In the domestic market, the company claimed to have served over 485 customers in FY25. In the international market, the company claimed that it supplied products to more than 20 customers located in countries such as the United States (US), United Arab Emirates (UAE), Italy, Egypt, Saudi Arabia, Sri Lanka, Nepal, Kenya, and Nigeria.
The company is ISO 9001:2015 certified for its quality management systems.
The company's clients include manufacturers of hygiene products (such as diapers, sanitary pads, and underpads) and healthcare products (including face masks, PPE kits, surgical gowns, and other disposable medical items). Some of the notable customers include RGI Meditech Private Limited, Millennium Babycares Limited, Sekhani Industries Private Limited, Myra Hygiene Products Private Limited, Rotech Healthcare Private Limited, and Poligof Micro Hygiene (India) Private Limited, among others.
The company claims to have taken steps to reduce its environmental impact. For instance, it installed rooftop solar projects such as the 1.1 MW at its main manufacturing facility and 0.43 MW at the facility of its subsidiary, SIPL.
The company claims to operate a variety of specialised machines, including a 1.6 m polypropylene (PP SS) machine with an annual capacity of 2,500 MT for treading and packaging, a 2.6 m PP SS machine with a capacity of 4,200 MT used in home furnishings, construction, and roofing, and two 3.2 m PP SS machines with capacities of 5,900 MT and 8,040 MT, respectively, which are used for packaging, commercial, agricultural, and medical applications.
The company claims to use advanced spunbond-spunbond (SS) and spunbond-spunbond-spunbond (SSS) spunbond technology to manufacture high-quality nonwoven fabrics. It further claims to use modern cleanroom heating, ventilation, and air conditioning (HVAC) systems and contamination-prevention measures, like epoxy-coated floors and insect control tools, to maintain sterile conditions essential for healthcare and hygiene applications.
Over the years, the company has observed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 115.92 crore in FY23 to Rs 148.61 crore in FY24 to Rs 226.35 crore in FY25. PAT increased from Rs 1.13 crore in FY23 to Rs 5.44 crore in FY24 to Rs 10.79 crore in FY25.
The top five suppliers accounted for Rs 110.77 crore (65.01 percent) of the company’s total purchases in FY25, Rs 99.14 crore (79.90 percent) in FY24, and Rs 76.97 crore (88.14 percent) in FY23. Furthermore, the top supplier alone accounted for Rs 37.83 crore (22.20 percent) of the company’s total purchases in FY25, Rs 47.57 crore (38.34 percent) in FY24, and Rs 19.60 crore (22.45 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The top five customers accounted for Rs 54.45 crore (26.08 percent) of the company’s total revenue in FY25, Rs 26 crore (17.56 percent) in FY24, and Rs 20.70 crore (18.04 percent) in FY23. Any failure to retain these key customers or a loss of business from these clients could adversely affect the company’s business and financial standing.
The company derives a significant portion of its revenue from domestic markets. Domestic sales accounted for Rs 181.77 crore (87.06 percent) of the company’s total revenue in FY25, Rs 138.28 crore (93.41 percent) in FY24, and Rs 110.65 crore (96.44 percent) in FY23. Any adverse developments in the domestic market, such as an economic slowdown, increased competition, or reduced demand, could negatively impact the company’s operations and financial performance.
The company recorded negative cash flows from investing activities amounting to Rs 8.64 crore in FY25, Rs 4.39 crore in FY24, and Rs 6.46 crore in FY23. Additionally, it recorded negative cash flows from financing activities amounting to Rs 5.48 crore in FY24 and Rs 10.67 crore in FY23. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
A significant portion of the company’s revenue is generated from customers in the hygiene and packaging industry. The hygiene industry accounted for Rs 108.27 crore (48.17 percent) of the company’s revenue in FY25, Rs 67.79 crore (45.81 percent) in FY24, and Rs 48.42 crore (42.20 percent) in FY23. The packaging industry accounted for Rs 65.99 crore (29.36 percent) of the company’s revenue in FY25, Rs 40.39 crore (27.29 percent) in FY24, and Rs 27.56 crore (24.02 percent) in FY23. Any adverse developments in these sectors could negatively impact the company’s business and financial condition.
Polypropylene granules, the main raw material used, form a significant portion of the company’s total raw material costs. Any price fluctuations due to adverse changes in external factors, such as global economic downturns, could negatively impact the prices and hurt the company’s profitability and overall financial health.
The company relies on imported polypropylene granules, primarily priced in US dollars, exposing it to foreign exchange risk. Any depreciation of the Indian rupee against foreign currencies could increase raw material costs and squeeze margins, especially since the company does not hedge its currency exposure. This may adversely affect its results of operations, cash flows, and overall financial performance.
A significant portion of the company’s revenue is derived from the sale of hydrophobic nonwoven fabric and super soft nonwoven fabric. The hydrophobic nonwoven fabric accounted for 56.39 percent of the company’s total revenue in FY25, 43.64 percent in FY24, and 42.60 percent in FY23. The super soft nonwoven fabric accounted for 35.30 percent of the company’s total revenue in FY25, 30.57 percent in FY24, and 27.79 percent in FY23. Any sudden drop in sales of these two product types could adversely impact the company’s financial performance and business stability.
The company, its directors, promoters, and subsidiaries are involved in certain legal proceedings, including criminal cases. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
As of FY25, the company had outstanding financial indebtedness of Rs 93.01 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Spunweb Nonwoven Financials
*All values are in Rs. Cr
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Application Details of Spunweb Nonwoven IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹90 - 96 | ₹2 - 5 Lakh |
| High Networth Individual | ₹90 - 96 | ₹2 - 5 Lakh |
For Spunweb Nonwoven IPO, eligible investors can apply as Regular.