Piotex Industries Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 10, 2024 to May 14, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price | ₹ 94 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 15,39,600 shares (aggregating up to ₹ 14.47 Cr) |
| Fresh Issue | 15,39,600 shares (aggregating up to ₹ 14.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 35,64,000 |
| Share holding post issue | 51,03,600 |
| Market Maker portion | 78,000 shares Spread X Securities |
About Piotex Industries Limited IPO
PIOTEX is a professional textile firm founded by two textile technocrats who have vast experience in the field textile industry. Piotex is primarily in marketing activities related to Textile industries and associated with leading brands of Textile Machinery and Accessories. Over the years, Piotex committed itself to provide reliable and durable textile machine technology leading to value addition and human resources enhancement. Piotex has started associating with the world class manufacturers in the field of machinery and accessories. Today PIOTEX is fully equipped to respond to any requirements in terms of Textile Machinery and Accessories across the line from Ginning, Spinning, and Weaving etc.
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 price is ₹94 per share. The minimum lot size for an application is 1200 Shares. 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.
Objectives of Piotex Industries IPO
The Net Proceeds from the Fresh Issue will be utilized towards the following objectives:
- 1. Funding the Working Capital Requirement.
- 2. General Corporate Purpose.
Piotex Industries IPO Review
The company is operating in a highly competitive and fragmented segment. It does third party contract manufacturing, which raises major concerns. The sudden boost in its bottom lines from FY23 onwards appears to be a window dressing to fetch fancy valuations. This issue can be termed as a “High Risk / Low Return” bet. Small post-IPO equity base indicates a longer gestation period for migration. Well-informed/cash surplus investors may park moderate funds for the medium term.
Piotex Industries Limited IPO Financial Information
Latest Revenue
11,893.88
₹ Crore
Profit After Tax
300.80
₹ Crore
Net Worth
897.18
₹ Crore
Total Borrowing
445.94
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 3,610.59 | 11,893.88 | 300.80 | 897.18 | 445.94 | ||||
| 31 Mar 2023 | 1,757.68 | 8,667.21 | 288.75 | 440.07 | 372.30 | ||||
| 31 Mar 2022 | 1,385.47 | 8,046.39 | 74.29 | 151.32 | 528.58 | ||||
| Amount in ₹ Crore | |||||||||
Piotex Industries Limited 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 |
Frequently Asked Questions
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Competitive Strengths
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Piotex Industries Limited IPO Timeline
| IPO Open Date | Friday, May 10, 2024 |
| IPO Close Date | Tuesday, May 14, 2024 |
| Basis of Allotment | Wednesday, May 15, 2024 |
| Initiation of Refunds | Thursday, May 16, 2024 |
| Credit of Shares to Demat | Thursday, May 16, 2024 |
| Listing Date | Friday, May 17, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 14, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹112,800 |
| Retail (Max) | 1 | 1200 | ₹112,800 |
| HNI (Min) | 2 | 2,400 | ₹225,600 |