May 17, 2024
admin
Piotex Industries IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
👉A legacy of 31 Years.
India`s Oldest Investment & IPO website.
👉Most Trusted by Investors across India.
Table of Contents
Piotex Industries IPO Latest updates:
The company will enter the market on May 10 and listing is expected to be on 17 May 2024.
What is the latest GMP of Piotex Industries IPO?*
Latest GMP & Subject to rates: Click
Check Subscription status of Piotex Industries IPO
On 14 May 2024 @ 5.00 (Day 3) (Closed)
Review: Response improved on Day 3
NII: 37.68 T
RII: 93.33 T
Total: 107.44 T
Application: 72024
What is the business of Piotex Industries?
The Pune-headquartered company is a leading supplier of yarn, fabric and cotton bales and works on an asset-lite model. These products are used for various purposes, such as garments and home furnishings. The company sells cotton bales and cotton yarn through the sole selling agreement, which are almost always in demand by the spinning and weaving industry. It distributes its products to customers in various states in India, including Maharashtra, Madhya Pradesh and Gujarat.
Founded in 2019 by first-generation entrepreneurs Abhay Shriram Asalkar and Yogesh Omprakash Nimodiya, Piotex Industries Limited is equipped with cutting-edge technology and processing techniques to ensure quality output for its clients.
Get more information about the company @ www.piotexindustries.com
| Piotex Industries IPO Details | |
| IPO opens on | 10 May 2024 |
| IPO closes on | 14 May 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1539600 Shares / Rs 14.47 Crore |
| * Fresh Issue | 1539600 Shares / Rs 14.47 Crore |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 78000 Shares |
| Net offer to Public | 1461600 Shares/ Rs.13.74 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.94 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
| Shares offered in Piotex Industries IPO | ||
| Shares | Rs. (Crore) | |
| QIB (0%) | – | – |
| NII (50%) | 730800 | 6.87 |
| RII (50%) | 730800 | 6.87 |
| Total Shares | 1461600 | 13.74 |
| Retail portion will be oversubscribed by | 609 | |
| Forms | ||
| How much Shares to Apply in Piotex Industries IPO? | ||
| Min Retail Application | 1200 Shares | Rs. 112800 |
| Min HNI Application | 2400 Shares | Rs.225600 |
Who are the Promoters of Piotex Industries IPO?
The promoters of the Company are MR. ABHAY SHRIRAM ASALKAR AND MR. YOGESH OMPRAKASH NIMODIYA
What are the Objects of Piotex Industries IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
1. To fund its working capital requirements,
2. general corporate purposes and
3. to meet issue expenses
| Piotex Industries IPO Tentative timetable | |
| IPO opens on | 10 May 2024 |
| IPO Closes on | 14 May 2024 |
| IPO Allotment on | 15 May 2024 |
| Refund Initiation | 16 May 2024 |
| Credit of Shares | 16 May 2024 |
| Listing on | 17 May 2024 |
| Registered Office of the Company F/II Block, Plot No. 16/2, M.I.D.C., Pimpri, Pune Maharashtra- 411018, India. |
| Who is the Lead Manager of Piotex Industries IPO? Beeline Capital Advisors Private Limited |
| Who is the Registrar to IPO? Cameo Corporate Services Limited |
| Piotex Industries IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Crore | Rs. | % | |
| 2020-21 | 54.43 | 0.60 | 2.48 | 77.77 |
| 2021-22 | 80.46 | 0.74 | 3.00 | 49.09 |
| 2022-23 | 86.67 | 2.89 | 11.67 | 65.61 |
| Book Value of the Share on | 31.03.2023 | Rs 293.38 | ||
| BV of the Share at cap price | after the IPO | Rs. | ||
| Offer Price/upper band | Rs. 94 | |||
| Piotex Industries IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | |
| Price/BV Ratio | |
| Upper price/BV after IPO | – |
How Piotex Industries IPO compares with the Peers?
There are no listed companies in India and abroad that is engaged in developing a similar line of product solution to that of this Company. Accordingly, it is not possible to provide a comparison of accounting ratios of industry with the Company.
| As per RHP | FV | Total Income | PE Ratio |
| Rs. | In Cr. | @ | |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Piotex Industries IPO To the point Guidance
The Pune-headquartered company is a leading supplier of yarn, fabric and cotton bales and works on an asset-lite model. These products are used for various purposes, such as garments and home furnishings.
Size: The net offer is of Rs. 13.74 Crore/1461600 shares. The size of the IPO is not very large and over subscription may not be an issue.
Financial Snapshot: Bonus issue of 33,48,000 equity shares in the ratio of 31:2 dated July 18, 2023 has been issued by Capitalization of Reserve & Surplus of the Company. Subsequent to the bonus issue, the equity capital has increased to 3564000 shares and accordingly, we have to rework the EPS for 2022-23 and also book value as shown for 31 March 2023. According to our calculations, the EPS for 2022-23 comes to Rs. 8.11 (Rs.2.89 Crore / 3564000 shares). Similarly reworked book value as on 31 March 2023 comes to Rs. 12.35 per share against which the shares are offered at Rs. 94.
Moreover, there is sharp jump in the net profits of 2022-23 as compared to the net profit of 2020-21 (Rs.2.89 crore Vs. Rs. 60 lacs.) We cannot comment, whether the company can maintain such high profits in the future. From fundamental angle, the IPO is not quite attractive, however the small size of the IPO is positive point. Beeline is capable lead manager and hence some listing gains are expected. Apply in small quantity.
Quicklinks
Piotex Industries IPO GMP today details?
Piotex Industries IPO
Piotex Industries IPO FAQs
What is Piotex Industries IPO?
Veritaas Advertising is a SME IPO of 3211000 equity shares of the face value of Rs. 10 aggregating up to Rs.42.39 Crores. The issue is priced at Rs.125-132 per share. The minimum order quantity is 1000 Shares.
When will Piotex Industries IPO open?
Veritaas Advertising IPO opens on May 13, 2024, and closes on May 16, 2024.
What is the lot size of Piotex Industries IPO?
Veritaas Advertising IPO lot size is 1000 Shares, and the minimum amount required is Rs.132000.
How to apply for Piotex Industries IPO?
You can apply in Veritaas Advertising IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Piotex Industries IPO allotment?
The finalization of Basis of Allotment for Veritaas Advertising IPO will be done on May 17, 2024, and the allotted shares will be credited to your demat account by May 20, 2024.
When is Piotex Industries IPO listing date?
Veritaas Advertising IPO listing date is May 22, 2024.
