Piotex Industries Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Piotex

CMP

80.00

-5.50 (-6.43%)

  • DRHP
₹94

Offer Price

₹ 14.47 Cr

Issue Size

₹ 1,12,800

Min Investment

1,200

Lot size

Time Line

  • 10
    May 2024
    Open
  • 14
    May 2024
    Close
  • 15
    May 2024
    Finalisation of Basis of Allotment
  • 16
    May 2024
    Initiation of Refunds
  • 16
    May 2024
    Transfer of Shares to Demat Account
  • 17
    May 2024
    Listing Date

Objects of the Offer

  • Develop cordial relationship with its Suppliers, Contractors, Customers and employees.

  • Optimal Utilization of Resources.

  • Enhance product quality.

  • To Build-Up a Professional Organization.

  • Leveraging its Marketing skills and Relationships.

Products & Services

  • The company is in business of contract manufacturing and trading of yarn, fabric and cotton bales.

Strengths

  • Existing client relationship.

  • Committed to total customer satisfaction.

  • Excellent & competent team.

  • Technical Expertise.

  • Timely fulfilment of orders.

Risks

  • The company is dependent on its vendors to procure its products and does not have any manufacturing facilities of its own. The company`s business is therefore dependent to a large extent on expected performance and operation of its vendor partners.

  • The company face substantial competition in the textile business, both from Indian and international companies, which may adversely affect its revenues.

  • Any increase in the prices of its raw material and any decrease in the supply of the company raw materials, primarily cotton, will materially and adversely affect its business, results of operations and financial condition.

  • The company has entered into Sole selling and Job work Agreements with the various spinning units for manufacturing and trading the products. Any termination of such agreements may have adverse effect on its business, prospects, results of operations and financial condition.

  • The company relies on outsourcing of its production processes and activities to third-parties. Any inability to obtain sufficient quantities of processed material of the requisite quality in a timely manner and at acceptable prices, or a slowdown, shutdown or disruption in such third parties` operations and performance, could adversely affect its business, results of operations and financial condition.

Company Promoters

Promoters Holding

Issue For IPO
28.48%
Pre Holding

94.42%

Post Holding

65.94%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2024 3-Yr trend
Revenue 80.22 (47.50%) 86.01 (7.20%) 118.46 (37.70%)
Gross Profit 80.22 (47.50%) 86.01 (7.20%) 118.46 (37.70%)
Net Income 80.22 (47.50%) 86.01 (7.20%) 118.46 (37.70%)
Assets 80.22 (47.50%) 86.01 (7.20%) 118.46 (37.70%)
Liabilities 80.22 (47.50%) 86.01 (7.20%) 118.46 (37.70%)

Book Running Managers

  • Beeline Capital Advisors Pvt Ltd

Registrar & Transfer Agent

Cameo Corporate Services Ltd

Subramanian Building,
1ST Floor No 1,
Club House Road - Chennai - 600002
Phone : 91-44-28462700 Fax: 91-44-28460129

Company Contact Information

F/II Block Plot No 16/2,
M I D C Pimpri,
Pune - 411018
Phone : +91-91567 44401 Email : office@piotex.in www.piotexindustries.com

Offer Related Information

Initial public issue of 15,39,600 equity shares of Rs. 10/- each ("Equity Shares") of Piotex Industries Limited ("Piotex" or the "Company" or the "Issuer") for cash at a price of Rs. 94/- per equity share including a share premium of Rs. 84/- per equity share (the "Issue Price"), aggregating to Rs. 14.47 crores ("The Issue"), of which 78,000 equity shares of Rs. 10/- each for cash at a price of Rs. 94/- per equity share including a share premium of Rs. 84/- per equity share aggregating to Rs.... More

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