Piotex Industries Limited IPO is set to launch on 10 May, 2024. The company was incorporated in 2019. It is in the business of contract manufacturing and trading of yarn, fabric and cotton bales. The company is operating in a highly competitive and fragmented segment. Since it operates on third party contracts, it has no own manufacturing unit.
The company is engaged mainly in 2 activities:
- Trading of Cotton Bales, Synthetic Fibre, Cotton Yarn and Fabric
- The company started manufacturing through job work and Fabric Weaving job in which company provides the Yarn to job workers and weaving units and they do the process of weaving on contracted charges and return the finished goods.
Its Business Process includes production & use of yarn during the manufacturing process. It endeavors to satisfy customers by continuous improvement through process innovation and quality maintenance. The company focuses on producing quality products to increase customer satisfaction and develop a positive brand image in the industry. As of March 31, 2024, it had 18 employees on its payroll.
Piotex Industries Limited : IPO DETAILS
Piotex Industries Limited IPO is set to launch on 10 May, 2024. The subscription timeline extends till 14 May, 2024. The size for the IPO is Rs. 14.47 Crore. The entire issue is a fresh issue of 15.4 Lakh shares amounting to Rs. 14.47 Crore. The lot size is 1200 shares and the price is Rs. 94 per share. The company is going to get listed at BSE SME Board. The face value per share is Rs.10 and this is a Fixed Price Issue. The registrar for the company is Cameo Corporate Services Limited.
Tabular Description of Piotex Industries Limited IPO
| IPO OPENING DATE | 10 May, 2024 |
| CLOSING DATE FOR IPO | 14 May, 2024 |
| ISSUE TYPE | Fixed Price Issue |
| Face Value per share | Rs. 10 per share |
| IPO price band | Rs. 94 per share |
| LOT SIZE | 1200 shares |
| MINIMUM ORDER QUANTITY | 1200 shares |
| ISSUE SIZE | Rs. 14.47 Crore |
| OFFER FOR SALE | NIL |
| FRESH ISSUE | Rs. 14.47 Crore |
| LISTING AT | BSE SME Board |
| LISTING DATE | 17 May, 2024 |
Piotex Industries Limited IPO: IMPORTANT DATES
| IPO OPENING DATE | 10 May, 2024 |
| CLOSING DATE FOR IPO | 14 May, 2024 |
| IPO ALLOTMENT DATE | 15 May, 2024 |
| REFUNDS | 16 May, 2024 |
| DEMAT A/C CREDITED ON | 16 May, 2024 |
| IPO LISTING DATE | 17 May, 2024 |
Piotex Industries Limited IPO begins for subscription from 10 May, 2024. The IPO subscription would continue till 14 May, 2024. The allotment status for the shareholders who applied would come on 15 May, 2024. The refunds for the ones who did not get allotment would be initiated on 16 May, 2024. The DEMAT accounts of shareholders would be credited on 16 May, 2024. The listing of the company would be completed on 17 May, 2024.
Piotex Industries Limited IPO: Lead Managers
The lead managers are :
- Beeline Capital Advisors Pvt Ltd
The minimum and maximum lot size for retail investors is 1200 shares, amounting to Rs. 112800. The minimum lot size for HNI is 2400 shares, amounting to Rs. 225600.
| Shares | Amount | |
| Retail (Minimum) | 1200 shares | Rs. 112800 |
| Retail (Maximum) | 1200 shares | Rs. 112800 |
| HNI (Minimum) | 2400 shares | Rs. 225600 |
OBJECTIVES FOR THE IPO
- Funding the Working Capital Requirement; and
- General Corporate Purpose.
COMPANY FINANCIALS
| Particularly (in Rs. Lakhs) | 2021-22 | 2022-23 | 2023-24 |
| Asset | 1385.47 | 1757.68 | 3610.59 |
| Revenue | 8046.39 | 8667.21 | 11893.88 |
| PAT | 74.29 | 288.75 | 300.80 |
Piotex Industries Limited had an asset base of Rs. 1385.47 Lakhs in 2022 which increased to Rs. 1757.68 Lakhs in 2023.The asset base of the firm jumped to Rs. 3610.59 Lakhs as on Mar-2024. The revenue for the company was Rs.8046.39 Lakhs in 2022, which increased to Rs. 8667.21 Lakhs in 2023. The revenue for FY 2023-24 was Rs. 11893.88 Lakhs. The profit of the company increased from Rs. 74.29 Lakhs in 2022 to Rs. 288.75 Lakhs in 2023. The profit generated for the FY 2023-24 was Rs. 300.80 Lakhs.
PROS
- The company is operating in a highly competitive and fragmented segment. It does third party contract manufacturing.
- Its Business Process includes production & use of yarn during the manufacturing process. It endeavors to satisfy customers by continuous improvement through process innovation and quality maintenance.
- The company focuses on producing quality product to increase customer satisfaction and develop a positive brand image in the industry.
Piotex Industries Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Piotex Industries Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
