Piotex Industries Limited IPO
- IPO Date10 May, 2024 to 14 May, 2024
- Listing Date17 May, 2024
- Face Value₹10 per share
- Issue Price₹94 to ₹94 per share
- Lot Size1200 Shares
- Minimum Investment₹1,12,800
- Listing AtBSE SME
- Total Issue Size15,39,600 Shares
(aggregating up to ₹14.47 Cr) - Fresh Issue15,39,600 Shares
(aggregating up to ₹14.47 Cr)
- Offer for Sale-
- Issue TypeFixed Price Issue IPO
- Share holding pre issue35,64,000
- Shareholding post issue51,03,600
IPO Dates
Closing Date
14 May, 2024
Initiation of Refunds
16 May, 2024
Listing Date
17 May, 2024
10 May, 2024
Opening Date
15 May, 2024
Basis of Allotment
16 May, 2024
Credit of Shares
Piotex Industries Limited Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹1,12,800 |
| Retail (Max) | 1 | 1200 | ₹1,12,800 |
| HNI (Min) | 2 | 2400 | ₹2,25,600 |
Piotex Industries Limited Promoter Holding
The company's promoters are Mr. Abhay Shriram Asalkar and Mr. Yogesh Omprakash Nimodiya.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | 69.83% |
Piotex Industries Limited COMPANY INFORMATION
Piotex Industries IPO is a fixed price issue of Rs 14.47 crores. The issue is entirely a fresh issue of 15.4 lakh shares. Piotex Industries IPO opens for subscription on May 10, 2024 and closes on May 14, 2024. The allotment for the Piotex Industries IPO is expected to be finalized on Wednesday, May 15, 2024. Piotex Industries IPO will list on BSE SME with tentative listing date fixed as Friday, May 17, 2024. Piotex Industries IPO price is ₹94 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹112,800. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹225,600. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Piotex Industries IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Piotex Industries IPO is Spread X Securities. Refer to Piotex Industries IPO RHP for detailed information.
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:
- 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.
FAQs About Piotex Industries Limited Ipo
Piotex Industries Limited IPO will open on 10 May, 2024 and close on 14 May, 2024. Investors must apply within this period to participate.
The Piotex Industries Limited IPO price band is set between ₹94.00 and ₹94.00 per share. The minimum lot size is 1200, requiring an investment of at least ₹112800.00.
The Piotex Industries Limited IPO shares are expected to be listed on 17 May, 2024, subject to regulatory approvals and final allotment.
You can track your Piotex Industries Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Piotex Industries Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.