Piotex Industries Limited IPO
Price
₹94
Lot
1200
Subs.
N/A
Expected Listing Earning

Exp. Premium(GMP):
20.00(21.28%)
IPO Details

Open Date: 10-May-2024
Close Date: 14-May-2024
Allotment Date: 15-May-2024
Listing Date: 17-May-2024
Listing Price: N/A
Face Value: ₹10 Per Equity Share
Issue Price: ₹94 Per Equity Share
Issue Size: Total Issue Size 1,539,600 shares (aggregating up to ₹14.47 Cr) : Fresh Issue 1,539,600 shares (aggregating up to ₹14.47 Cr)
Market Lot (Min Amount): Retail - ₹112,800 : HNI - ₹225,600
Valuations

Earning Per Share(EPS)₹8.44/-
P/E Ratio11.14
RoNW33.53%
Net Asset Value (NAV) - Post Issue:₹N/A/-
Company Financials (in Crore)

 Total AssetsTotal RevenueProfit After Tax
31 Mar,20243,610.5911,893.88300.80
31 Mar,20221,757.688,667.21288.75
31 Mar,20211,385.478,046.3974.29
Promoter(s)

Pre Issue Share Holding100%
Post Issue Share Holding69.83%
Company Promoter(s)
1. Mr. Abhay Shriram Asalkar
2. Mr. Yogesh Omprakash Nimodiya
Issue Objective(s)

The Net Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. Funding the Working Capital Requirement; and
  2. General Corporate Purpose.
About Company

Founded in 2019, Piotex Industries Limited is engaged in contract manufacturing and trading of yarns, fabrics, and cotton bales for various purposes such as apparel and home textiles. The company also manufactures cotton yarn under an outsourcing model (job- work)

The company has two main business areas:

  1. Trading in cotton bales, synthetic fibers, cotton yarns, and fabrics: The company manufactures and trades in cotton bales and cotton yarn in the textile centers of Maharashtra, namely Malegaon, Ichalkaranji and Bhiwandi. The company also supplies cotton yarn to Burhanpur and Ahmedabad. For its end product, cotton yarn, the company has entered into an exclusive distribution agreement with Babasaheb Deshmukh Industries Private Limited.
  2. Contract Labor and Fabric Weaving: Under this arrangement, the company supplies the yarn to the contract workers and the weaving mill who carry out the weaving process at a contractually agreed price and return the finished product. The finished product, i.e. the fabric, is then sold to the customers.

As of March 31, 2024, the company has 18 employees on the payroll.

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