Kian-M Export Files DRHP for IPO to Raise ₹500 Crore for Expansion

Kian-M Export Ltd, a key player in textile manufacturing and exports, has officially submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) on September 25, 2026. This move signals the company’s intention to launch an Initial Public Offering (IPO) to raise funds aimed at bolstering its operations and expanding its market presence.

The proposed IPO structure includes a fresh issue of equity shares worth up to ₹500 crore alongside an Offer for Sale (OFS) of up to 15 lakh shares by existing shareholders. The capital raised from the fresh issue is planned to be directed towards several strategic areas: enhancing working capital, acquiring a 35.29% stake in Ultra Denim Ltd, investing in new machinery and equipment, and funding capital expenditures for its material subsidiary, Usha Cotton Ltd. Part of the proceeds will also be allocated for general corporate purposes.

The IPO will be managed by Mirae Asset Capital Markets (India) Pvt. Ltd as the book running lead manager, with MUFG Intime India Pvt. Ltd serving as the registrar. Kian-M Export’s equity shares are expected to be listed on both the National Stock Exchange of India (NSE) and the Bombay Stock Exchange (BSE), providing investors with broad access to the offering.

About Kian-M Export

Kian-M Export specializes in converting raw textiles into finished products, including sarees sold under its Revelo brand and white-label manufacturing. Its portfolio extends to fabrics tailored for African prints such as kitenge and kanga, modern apparel like shirts and pants, and South Asian traditional wear including salwar kameez. The company also produces women's contemporary, ethnic, and occasion wear under its premium Orcoss brand, targeting a higher-end market segment. Moreover, it supplies fabrics used in Middle Eastern garment styles.

The company emphasizes quality production using standardized processes and state-of-the-art machinery. Its manufacturing units are equipped with digital and rotary printing machines imported from countries including Italy, Austria, Germany, and China. Notably, many of these machines were acquired during fiscal years 2023 and 2024, reflecting recent investments in production capability.

Financially, Kian-M Export has shown strong performance, with a compound annual growth rate (CAGR) from fiscal 2024 to fiscal 2026 of 25.09% in revenue from operations, 63.27% in EBITDA, and 118.82% in profit for the year. These figures indicate a robust upward trajectory in both top-line and bottom-line metrics.

African print fabrics form the largest revenue segment for the company, accounting for 52% of total revenue in fiscal 2026. Kian-M Export primarily exports these products to African markets, where demand for such textiles remains strong.

Industry outlook data cited in the DRHP highlights the African fabric market’s growth potential. Valued at approximately US$18.65 billion in 2020, the market is expected to reach US$24.25 billion by 2025 and forecasted to grow further to US$33.45 billion by 2030, representing a CAGR of 6.6% over the 2025–2030 period.

This IPO could provide Kian-M Export with the financial resources required to capitalize on these growth trends through strategic acquisitions and capacity expansion. The textile sector in India has been increasingly dynamic, driven by rising domestic demand and export opportunities, making this fundraising timely for companies aiming to scale operations.

Advisory Note

Potential investors are encouraged to consult with certified financial advisors before making investment decisions related to this IPO.

About the Author

Ksheera Sagar is a Market Research Analyst at LiveMint with over a decade of experience in the financial services industry. Over the past four years, he has focused on equity research, commodities, and financial markets, having previously worked with J.P. Morgan. He is known for delivering detailed, data-driven analysis and clear market insights. Outside of his professional work, Ksheera enjoys playing the piano and exploring global economic trends through travel and study.