New Delhi, Sept. 25 -- Textile manufacturer and exporter Kian-M Export Ltd has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 25, 2026, to raise funds through an Initial Public Offering (IPO).

The proposed IPO is a combination of a fresh issue of up to Rs.500 crore and an Offer for Sale (OFS) of up to 15 lakh shares, which will be offered by the existing shareholders.

The company proposes to utilise the proceeds from the fresh issue towards working capital requirements, acquiring a 35.29% stake in Ultra Denim Ltd, funding the purchase of machinery and equipment, and making capital expenditure investments in its material subsidiary, Usha Cotton Ltd.

Further, the company ...