Piotex Industries IPO will open for subscription from 10 May 2024. The company aims for an issue size of ₹14.47 Cr through this IPO.
Company Overview
| Full name | Piotex Industries Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://piotex.in/ |
About Company
Based in Pune, the company leads the market as a supplier of yarn, fabric, and cotton bales while operating on an asset-light model. These products serve multiple purposes, including garments and home furnishings. The company sells its cotton bales and yarn through an exclusive sales agreement, consistently meeting high demand from the spinning and weaving industry. Piotex Industries primarily engages in two activities:
- Trading of Cotton Bales, Synthetic Fiber, Cotton Yarn, and Fabric: Established in October 2019, the company trades cotton bales and cotton yarn in Maharashtra’s textile hubs such as Malegaon, Ichalkaranji, and Bhiwandi, and supplies cotton yarn to Burhanpur and Ahmedabad. Fabric trading was added in 2022-23. Piotex Industries has an exclusive sales agreement with Babasaheb Deshmukh Industries Private Limited for cotton yarn.
- Manufacturing Through Job Work and Fabric Weaving: The company provides yarn to job workers and weaving units, who process and return the finished fabric goods. These finished goods are then sold to customers.
Piotex Industries distributes its products to customers across various states in India, including Maharashtra, Madhya Pradesh, and Gujarat.
The Objectives of the Issue
- Funding the Working Capital Requirement; and
- General Corporate Purpose.
Piotex Industries IPO Timetable
| IPO Opening date | 10 May 2024 |
| IPO Closing | 14 May 2024 |
| Basis of Allotment | 15 May 2024 |
| Initiation Refund | 16 May 2024 |
| Credit to Demat Account | 16 May 2024 |
| Listing Date | 17 May 2024 |
Piotex Industries IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹14.47 Cr – 1,539,600 shares |
| Fresh Issue | ₹14.47 Cr – 1,539,600 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹94 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 78,000 shares |
| Shareholding pre-issue | 3,564,000 |
| Shareholding post-issue | 5,103,600 |
| Listing Exchange | BSE SME |
Piotex Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |
IPO Documents
Piotex Industries IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 78,000 (5.07%) |
| Other Shares Offered | 730,800 (47.47%) |
| Retail Shares Offered | 730,800 (47.47%) |
| Total Shares Offered | 1,539,600 (100%) |
Piotex Industries Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 80.22 | 86.01 | 118.46 |
| Expenses | 79.47 | 82.75 | 114.92 |
| Net income | 0.74 | 2.89 | 3.01 |
Piotex Industries Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 3.00 | 11.67 | 8.48 |
| PE ratio | – | – | 11.08 |
| RONW (%) | 49.09 | 65.61 | 33.53 |
| NAV | 100.88 | 293.38 | 25.17 |
| ROCE (%) | 50.50 | 59.34 | 33.20 |
| EBITDA (%) | 1.43 | 4.83 | 3.22 |
| Debt/Equity | 3.49 | 0.41 | 0.50 |
Company Promoters
- Mr. Abhay Shriram Asalkar
- Mr. Yogesh Omprakash Nimodiya.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 69.83% |
Piotex Industries IPO GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 16 May 2024 | 26 | – | 25,200 |
| 15 May 2024 | 22 | – | 22,700 |
| 14 May 2024 | 17 | – | 16,000 |
| 13 May 2024 | 17 | – | 16,000 |
| 11 May 2024 | 10 | – | 8,700 |
Subscription Update
| Category | Non-retail | Retail | Total |
| Shares Offered | 7,30,800 | 7,30,800 | 14,61,600 |
| 14 May 2024 | 121.66 | 93.33 | 107.50 |
| 13 May 2024 | 1.80 | 6.09 | 3.94 |
| 10 May 2024 | 0.85 | 0.75 | 0.80 |
Piotex Industries IPO Allotment Status
Piotex Industries IPO allotment status is now available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Listing Details
| Listing Date | 17 May 2024 |
| BSE Scrip Code | 544178 |
| NSE Symbol | – |
| ISIN | INE0R4W01015 |
| Final Issue Price | ₹94 per share |
Piotex Industries IPO Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
Shilp Corporate Park, B Block, 13th Floor,
B-1311-1314, Near Rajpath Club, RajpathRangoli Road,
S.G. Highway, Ahmedabad, Gujarat- 380054
Phone: 079 4918 5784
Email: mb@beelinemb.com
Website: www.beelinemb.com
Piotex Industries Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: investor@cameoindia.com
Website: www.cameoindia.com
Piotex Industries Contact Details
PIOTEX INDUSTRIES LIMITED
F/II Block, Plot No. 16/2, M.I.D.C.,
Pimpri, Pune, Maharashtra – 411018
Phone: +91-9156744401
E-mail: office@piotex.in
Website: www.piotexindustries.com
Piotex Industries IPO FAQs
What is the Piotex Industries offer size?
Piotex Industries’ offer size is ₹14.47 crores.
What is the Piotex Industries offer price band?
Piotex Industries public offer price is ₹94 per share.
What is the lot size of the Piotex Industries Offer?
Piotex Industries offer lot size is 1,200 shares.
What is Piotex Industries IPO GMP today?
Piotex Industries IPO GMP today is ₹26 per share.
What is the Piotex Industries kostak rate today?
Piotex Industries kostak rate today is ₹NA per application.
What are Piotex Industries Subject to the Sauda rate today?
Piotex Industries is Subject to the Sauda rate today is ₹25,200 per application.
Final thoughts
Piotex Industries IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing/.
