Piotex Industries IPO Details | GMP, Date, Price, Review

Piotex Industries IPO Details ( Piotex Industries Limited IPO Review )

(10 May 2024 – 14 May 2024)

Established in 2019, Piotex Industries Limited specializes in producing and trading yarns, fabrics, and cotton bales used in clothing and home textiles. They also make cotton yarn through outsourcing.

Here are the two main areas of their business:

1. Trading: Piotex deals in cotton bales, synthetic fibers, cotton yarns, and fabrics. They manufacture and trade these materials in textile hubs like Malegaon, Ichalkaranji, and Bhiwandi in Maharashtra. They also supply cotton yarn to Burhanpur and Ahmedabad. To distribute their cotton yarn, they’ve partnered exclusively with Babasaheb Deshmukh Industries Private Limited.
2. Contract Labor and Fabric Weaving: In this setup, Piotex provides yarn to contract workers and weaving mills, who then weave the fabric at an agreed price. Once done, the fabric is sold to customers.

As of March 31, 2024, Piotex Industries Limited employs 18 people.

Piotex Industries Limited IPO Competitive Strength

• Existing client relationship
• Committed to total customer satisfaction
• Excellent & competent team
• Technical Expertise
• Timely fulfilment of orders

Piotex Industries IPO Financials Performance ( Results )

Piotex Industries Limited Financial Information (Restated)

All Amount in ₹ Lakhs

Period Ended	Total Assets	Total Revenue	PAT	Net Worth	Reserves	Borrowing
31-Mar-22	1,385.47	8,046.39	74.29	151.32	136.32	528.58
31-Mar-23	1,757.68	8,667.21	288.75	440.07	425.07	372.30
31-Mar-24	3,610.59	11,893.88	300.80	897.18	582.47	445.94

Objective of Piotex Industries IPO Issue

• Funding the Working Capital Requirement; and
• General Corporate Purpose.

Piotex Industries IPO Basic Details

IPO Date	May 10, 2024 to May 14, 2024
Listing Date	Friday, May 17, 2024
Face Value	₹10 per share
Price	₹94 per share
Lot Size	1200 Shares
Issue Size	1,539,600 shares of ₹10 (aggregating up to ₹14.47 Cr)
Fresh Issue	1,539,600 shares of ₹10 (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
Company Promoters	Mr. Abhay Shriram Asalkar and Mr. Yogesh Omprakash Nimodiya

Piotex Industries IPO Reservation

Market Maker Shares Offered	5.07% of the Net Issue
Other Shares Offered	47.47% of the Net Issue
Retail Shares Offered	47.47% of the Net Issue

Piotex IPO Timetable

Piotex IPO will open on May 10, 2024 and close on May 14, 2024. You can join Piotex IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Event	Date
Opening Date	10 May 2024 (Friday)
Closing Date	14 May 2024 (Tuesday)
Basis of Allotment	15 May 2024 (Wednesday)
Initiation of Refunds	16 May 2024 (Thursday)
Credit of Shares to Demat	16 May 2024 (Thursday)
Listing Date	17 May 2024 (Friday)
Deadline for UPI mandate confirmation	5 PM on 14 May 2024

Piotex Industries IPO Lot Size

For retail investors in Piotex Industries IPO, 2400 shares will come in 1 lot or the minimum investment will be ₹112,800. Retail-individual investors can apply for up to 1 lots or the maximum investment will be ₹112,800.

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹112,800
Retail (Max)	1	1200	₹112,800
S-HNI (Min)	2	2400	₹225,600

Piotex Industries IPO Promoter Holding

The company’s promoters include Mr. Abhay Shriram Asalkar and Mr. Yogesh Omprakash Nimodiya.

Pre Issue Share Holding	100.00%
Post Issue Share Holding	69.83%

Piotex Industries Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

KPI	Values
Market Cap (₹ Cr.)	47.97
Earning Per Share (EPS)	₹8.48 per Equity Share
Net Asset Value (NAV)	₹25.17 per Equity Share
P/E Ratio (P/E) (x)	11.14
Post P/E Ratio (P/E) (x)	15.95
Return on Net Worth (RoNW) (%)	33.53
Return on equity (ROE) (%)	44.99
Return on Capital Employed (ROCE) (%)	33.20
Debt/Equity Ratio	0.50
Price/Book Value Ratio	3.73

Piotex Industries Ltd Peer Comparison

There are no listed companies in India that are comparable in all aspects of business and services that the Company provides. Hence, it is not possible to provide an industry comparison in relation to the Company.

Piotex Industries IPO GMP Live Update, Kostak Rate day by day

Date	GMP	Kostak	Subject to
Today	₹20	–	–
11 May 2024	₹20	–	–
10 May 2024	₹19	–	–

Piotex Industries IPO Detail Video:

link

Piotex Industries IPO Subscription Status (Bidding Detail)

The Piotex Industries IPO on May 14, 2024 6:19:06 PM was subscribed 107.44 times, with the retail category being subscribed 93.33 times, the other category being subscribed 115.21 times.

Category	Subscription
Other	115.21x
Retail	93.33x
Total	107.44x

Piotex Industries IPO Prospectus

Piotex Industries IPO DRHP	Download
Piotex Industries IPO RHP	Download

Piotex Industries IPO Rating

Our Rating

2.5/5.0

Piotex Industries Company Contact Information

Piotex Industries Limited

Registered Office: F/II Block, Plot No. 16/2, M.I.D.C., Pimpri, Pune Maharashtra – 411018, India
Tel No.: +91-9156744401
Email: office@piotex.in
Website: www.piotexindustries.com
Contact Person: Mr. Mahendra Singh Rajpoot, Company Secretary and Compliance Officer.
Our Promoters: Mr. Abhay Shriram Asalkar and Mr. Yogesh Omprakash Nimodiya

Piotex Industries IPO Registrar

Cameo Corporate Services Limited

Registered Office: No.01, Club House Road, Mount Road, Chennai-600002, India.
Tel. No.: 044 40020700/28460390
Email: ipo@cameoindia.com
Website: www.cameoindia.com
Investor Grievance Email: https://wisdom.cameoindia.com
Contact Person: Ms. K Sreepriya
SEBI Registration No.: INR000003753

Piotex Industries IPO Lead Manager

Beeline Capital Advisors Private Limited

Registered Office: B 1311-1314, Thirteenth Floor, Shilp Corporate Park, Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054, Gujarat, India.
Tel. No.: +91-79-48407357
Email: mb@beelinemb.com
Website: www.beelinemb.com
Investor Grievance Email: ig@beelinemb.com
Contact Person: Mr. Nikhil Shah
SEBI Registration No.: INM000012917

Piotex Industries IPO FAQs