08-May-2024
2 mins read
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Piotex Industries IPO is open for subscription starting Friday, May 10, 2024, and closing on Tuesday, May 14, 2024. The price of this upcoming IPO is decided at Rs 94 per share. The minimum lot size set for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots with 2400 shares. The minimum investment required for retail category investors is Rs 1,12,800 (94 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,25,600 (94 x 2400 shares). Piotex Industries IPO is a book-built issue of Rs 14.47 crores. This upcoming IPO is a fresh issue of 15.4 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Wednesday, May 15, 2024. Piotex Industries IPO will be listed on BSE SME, and the listing date is fixed on Friday, May 17, 2024. The book-running lead manager of Piotex Industries IPO is Beeline Capital Advisors Private Limited. The registrar for this IPO is Cameo Corporate Services Limited. The market maker of this issue is Spread X Securities.
Piotex Industries Limited Company Profile in Brief
Piotex Industries was founded in 2019 and is engaged in the manufacturing and trading of yarns, fabrics, and cotton bales. The company also manufactures cotton yarn and under the outsourcing model and trades cotton bales for various purposes such as apparel and home textiles. The company has two main business areas - Trading in cotton bales, synthetic fibres, cotton yarns and fabrics. The second business segment is Contract Labour and Fabric Weaving. Piotex Industries manufactures and trades in cotton bales and cotton yarns in the textile centres of Maharashtra, namely Malegaon, Ichalkaranji and Bhiwandi. The company also supplies cotton yarn to Burhanpur and Ahmedabad. Piotex also supplies the yarn to the contract workers and weaving mill who carry out the weaving process at a contractually agreed price and return the finished product. As per the latest information available, the company has a team of 18 members.
Objectives of Piotex Industries IPO
The net funds received from this initial public offer will be utilised to fund the day-to-day capital requirements. Additionally, the fund will be used for general corporate purposes such as giving liquidity to the founders, private equity investors and employees.
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Financials of Piotex Industries Limited (Amt in Rs Lakhs)
Piotex Industries posted a revenue of Rs 11,893.88 lakhs and net profit of 300.80 lakhs for the period ending on 31 March 2024. Previously, in the same period revenue was Rs 8,667.21 lakhs and PAT of Rs 288.75. The revenue increased by 37.23% and net profit increased by 4.17% between the FY ending on 31 March and 31 March 2023. The improvement in the financial performance is visible.
| Period Ended | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
| Assets | 3,610.59 | 1,757.68 | 1,385.47 |
| Revenue | 11,893.88 | 8,667.21 | 8,046.39 |
| Profit After Tax | 300.8 | 288.75 | 74.29 |
| Net Worth | 897.18 | 440.07 | 151.32 |
| Reserves and Surplus | 582.47 | 425.07 | 136.32 |
| Total Borrowing | 445.94 | 372.3 | 528.58 |
Other Important Details of Piotex Industries IPO
| IPO Date | May 10, 2024 to May 14, 2024 |
| Listing Date | 17-May-24 |
| Face Value | Rs 10 per share |
| Price | Rs 94 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,539,600 shares amounting to Rs 14.47 crore |
| Fresh Issue | 1,539,600 shares amounting to Rs 14.47 crore |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 3,564,000 |
| Shareholding post issue | 5,103,600 |
| Market Maker portion | 78,000 shares |
Time-Table of Piotex Industries IPO
| IPO Open Date | Friday, May 10, 2024 |
| IPO Close Date | Tuesday, May 14, 2024 |
| Basis of Allotment | Wednesday, May 15, 2024 |
| Initiation of Refunds | Thursday, May 16, 2024 |
| Credit of Shares to Demat | Thursday, May 16, 2024 |
| Listing Date | Friday, May 17, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 14, 2024 |
Lot Size of Piotex Industries IPO
| Application | Lots | Shares | Amount |
| Retail - Minimum | 1 | 1,200 | Rs 1,12,800 |
| Retail - Maximum | 1 | 1,200 | Rs 1,12,800 |
| HNI - Minimum | 2 | 2,400 | Rs 2,25,600 |
IPO Reservation of Piotex Industries Limited
| Investor Category | Shares Offered |
| Retail | 50 percent of the Net issue |
| Others | 50 percent of the Net issue |
Key Performance Indicator of Piotex Industries Limited IPO
The market capitalization of Piotex Industries is Rs 47.97 Crore.
| Performance Indicators | Values |
| ROE | 45% |
| ROCE | 33.20% |
| D/E ratio | 0.5 |
| RoNW | 33.53% |
| Price to Book Value | 3.73 |
| PAT Margin | 2.54 |
EPS and P/E Ratio Post IPO
| Performance Indicators | Values |
| ROE | 45% |
| ROCE | 33.20% |
| D/E ratio | 0.5 |
| RoNW | 33.53% |
| Price to Book Value | 3.73 |
| PAT Margin | 2.54 |
Promoters of Piotex Industries Limited and Their Holdings
The promoters of Piotex Industries company are Abhay Shriram Asalkar and Yogesh Omprakash Nimodiya.
| Shareholding Pre Issue | 100 percent |
| Shareholding Post Issue | 69.83 percent |
Lead Manager(s) of Piotex Industries IPO
The lead manager for Piotex Industries IPO is Beeline Capital Advisors Private Limited.
How do you apply for the Piotex Industries IPO?
Wait for the public issue to open for subscription, then click here to apply for the Piotex Industries Limited IPO with Bigul.
How do you check the allotment status of Piotex Industries IPO?
The registrar for Piotex Industries IPO is Cameo Corporate Services Limited. To check your allotment status, please click here.
FAQs
- What is the Piotex Industries IPO?
Piotex Industries IPO is a book-built issue of Rs 14.47 crores. This upcoming IPO is a fresh issue of 15.4 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Wednesday, May 15, 2024.
- Who are the lead managers for the Piotex Industries Limited IPO?
Beeline Capital Advisors Private Limited is appointed as the lead manager for the IPO.
- What is the role of Cameo Corporate Services Limited in this IPO?
Cameo Corporate Services Limited is the registrar for Piotex Industries Limited, handling the IPO's administrative aspects.
- How can I apply for the Piotex Industries IPO?
The public subscription of this new IPO will open on May 10, 2024. Click here to initiate the application process.
- How will the net proceeds from the IPO be utilised?
The net funds received from this initial public offer will be utilised to fund the day-to-day capital requirements. Additionally, the fund will be used for general corporate purposes such as giving liquidity to the founders, private equity investors and employees.
- How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Piotex Industries Limited IPO by visiting here. For further updates follow Bigul.
- What is the financial performance of Piotex Industries Limited?
Piotex Industries posted a revenue of Rs 11,893.88 lakhs and net profit of 300.80 lakhs for the period ending on 31 March 2024. Previously, in the same period revenue was Rs 8,667.21 lakhs and PAT of Rs 288.75. The revenue increased by 37.23% and net profit increased by 4.17% between the FY ending on 31 March and 31 March 2023.
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