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:
- 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.
- 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.
Piotex Industries IPO – Details
| IPO Opening Date | 10 May 2024 |
| IPO Closing Date | 14 May 2024 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | 15,39,600 Shares Worth ₹14.47 Crore Fresh Issue: 15,39,600 Shares Worth ₹14.47 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹94 |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares (1 Lot) |
| Listing At | BSE SME |
| Register | Cameo Corporate Services Limited |
| Retail Shares Offered | 50% |
| Other Shares Offered | 50% |
Piotex Industries IPO – Date Schedule
| IPO Open Date | 10 May 2024 |
| IPO Close Date | 14 May 2024 |
| Basis of Allotment | 15 May 2024 |
| Initiation of Refund | 16 May 2024 |
| Credit of Shares to Demat Account | 16 May 2024 |
| IPO Listing Date | 17 May 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 14, 2024 |
Piotex Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Retail (Minimum) | 1 | 1200 | ₹1,12,800 |
| Retail (Maximum) | 1 | 1200 | ₹1,12,800 |
| HNI (Minimum) | 2 | 2400 | ₹2,25,600 |
Competitive Strengths
- Existing client relationship.
- Committed to total customer satisfaction.
- Excellent & competent team.
- Technical Expertise.
- Timely fulfilment of orders.
Company Promoters
- Mr. Abhay Shriram Asalkar
- Mr. Yogesh Omprakash Nimodiya
Object Of The Issue
- Funding the Working Capital Requirement; and
- General Corporate Purpose.
Company Financial
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 80.46 | 79.46 | 0.74 | 5.28 |
| 31 March 2023 | 86.67 | 82.75 | 2.88 | 3.72 |
| 31 March 2024 | 118.93 | 114.91 | 3.00 | 4.45 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 44.99% |
| ROCE | 33.20% |
| Debt/Equity | 0.5 |
| RoNW | 33.53% |
| P/BV | 3.73 |
| PAT Margin (%) | 2.54 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 8.44 | 5.89 |
| P/E (x) | 11.14 | 15.95 |
Piotex Industries IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 69.83% |
Piotex Industries IPO Prospectus
Company Contact Information
| Piotex Industries Limited F/II Block, Plot No. 16/2, M.I.D.C., Pimpri Pune – 411018 Phone: +91-9156744401 Email: office@piotex.in Website: https://piotex.in/ |
Piotex Industries IPO Registrar
| Cameo Corporate Services Limited Phone: +91-44-28460390 Email: ipo@cameoindia.com Website: https://ipo.cameoindia.com/ |
Piotex Industries IPO Lead Manager(s)
| 1. Beeline Capital Advisors Pvt Ltd |
Piotex Industries IPO FAQs
| What is Piotex Industries IPO? Piotex Industries IPO is a SME IPO. The issue is priced at ₹94 per equity share. The IPO is to be listed on BSE SME. |
| When Piotex Industries IPO will open? The IPO is to open on 10 May 2024 for Retails – 50% and Others – 50% Investors. |
| How to Piotex Industries IPO? You can apply for Piotex Industries IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Piotex Industries IPO through 5 Paisa? Log in to the 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Piotex Industries”. Click on the Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open a Demat Account with 5 Paisa. |
| How to Apply the Piotex Industries IPO through Edelweiss? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Piotex Industries”. Click on the Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Edelweiss. |
| What is Piotex Industries IPO Size? Piotex Industries IPO size is ₹14.47 crores. |
| What is Piotex Industries IPO Price Band? Piotex Industries IPO Price Band is ₹94. |
| What is Piotex Industries IPO Minimum and Maximum Lot Size? The minimum bid is 1200 Shares with ₹1,12,800 amount while the maximum bid is 1200 shares with ₹1,12,800. |
| What is the Piotex Industries IPO Allotment Date? Piotex Industries IPO allotment date is 15 May 2024. |
| What is the Piotex Industries IPO Listing Date? Piotex Industries IPO listing date is 17 May 2024. The IPO is to list on BSE SME. |
