Piotex Industries IPO

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 namePiotex Industries Limited
Company Websitehttps://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 date10 May 2024
IPO Closing14 May 2024
Basis of Allotment15 May 2024
Initiation Refund16 May 2024
Credit to Demat Account16 May 2024
Listing Date17 May 2024
(Cut-off time for UPI mandate confirmation – 5 PM on May 14, 2024)

Piotex Industries IPO details

Issue typeFixed Price Issue IPO
IPO issue size₹14.47 Cr – 1,539,600 shares
Fresh Issue₹14.47 Cr – 1,539,600 shares
Offer for saleNil
Face value₹10 per share
Offer Price₹94 per share
Lot size1200 Shares
Market Maker portion78,000 shares
Shareholding pre-issue3,564,000
Shareholding post-issue5,103,600
Listing ExchangeBSE SME

Piotex Industries IPO Lot Size

Retail (Min)11200₹112,800
Retail (Max)11200₹112,800
HNI (Min)22,400₹225,600

IPO Documents

Piotex Industries IPO Reservation Details

Investor CategoryShares Offered
Anchor Investor Shares Offered
Market Maker Shares Offered78,000 (5.07%)
Other Shares Offered730,800 (47.47%)
Retail Shares Offered730,800 (47.47%)
Total Shares Offered1,539,600 (100%)

Piotex Industries Financial Performance

 FY 2022FY 2023FY 2024
Net income0.742.893.01
(Amount in ₹ Crores)

Piotex Industries Valuations & Margins

FY 2022FY 2023FY 2024
PE ratio11.08
RONW (%)49.0965.6133.53
ROCE (%)50.5059.3433.20
EBITDA (%)1.434.833.22

Company Promoters

  • Mr. Abhay Shriram Asalkar
  • Mr. Yogesh Omprakash Nimodiya.

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding69.83%

Piotex Industries IPO GMP Update

DateConsolidated IPO GMPKostakSubject to Sauda
16 May 20242625,200
15 May 20242222,700
14 May 20241716,000
13 May 20241716,000
11 May 2024108,700

Subscription Update

Shares Offered7,30,8007,30,80014,61,600
14 May 2024121.6693.33107.50
13 May 20241.806.093.94
10 May 20240.850.750.80
(The market maker reservation portion of 78,000 shares is not included)

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 Date17 May 2024
BSE Scrip Code544178
NSE Symbol
Final Issue Price₹94 per share

Piotex Industries IPO Lead Manager(s)

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

“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

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/.

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