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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.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Piotex Industries Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
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 | 1200 Shares |
| Total Issue Size | 1,539,600 shares (aggregating up to ₹14.47 Cr) |
| Fresh Issue | 1,539,600 shares (aggregating up to ₹14.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 3,564,000 |
| Share holding post issue | 5,103,600 |
| Market Maker portion | 78,000 shares Spread X Securities |
Piotex Industries Limited IPO Timeline
| Detail | Description |
|---|---|
| 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 |
Piotex Industries Limited 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 |
Piotex Industries Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 69.83% |
Competitive Strength:
- -
Piotex Industries Limited IPO Financial Information
| Period Ended | Assets | Revenue | 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 | ||||||||||||||||||||||||||||||||||||||||
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 |
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.
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Frequently asked Questions (FAQs )
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What Is The Size Of The Piotex Industries Limited IPO?
The offer size of Piotex Industries Limited is INR 14.47 crores, consisting of a fresh issue of 35,00,000 shares of Rs.94 each. The company seeks funds for the working capital requirements and to meet general corporate purposes.
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What Is The Price Band Of The Piotex Industries Limited IPO?
The price band of the issue is INR 94 per share.
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What is the last date and time for the Piotex Industries Limited IPO subscription?
14th May is the last date to apply for the IPO. You can apply on the last date in the market hours.
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When will Piotex Industries Limited IPO be listed?
The company will list its IPO in the market on May 17, 2024.
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When will Piotex Industries Limited shares be credited?
Piotex Industries Limited shares will be credited on May 16, 2024.
