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

Piotex Industries IPO Allotment Status Online

Piotex Industries IPO Details Today : Piotex Industries IPO is Open on 10 May 2024 and Close on 14 May 2024. Piotex Industries IPO to Raise
Approx ₹14.47 Crores, (1,539,600 Shares) via IPO. The Fresh issue of Approx ₹14.47 Crores, (1,539,600 Shares).

 

Our company incorporated on 24 October 2019 is in business of contract manufacturing and trading of yarn, fabric and cotton bales. Our Products are used for various purposes such as garments & home furnishings, etc. We manufacture the cotton bales on contract basis. We also manufacture cotton yarn through out-sourcing model (Job-work) which are almost always in demand by the garment manufacturing industry.

 

Cotton Bales : – A Cotton bale is a standard-sized and weighted pack of compressed cotton lint after ginning. A cotton bale is defined as being refined cotton, packaged at a particular size, manageable for use by modern production methods. A cotton bale is cotton which has been put through a cotton gin (engine) to remove the cotton fibre from seeds or any dirt and grime which may have accumulated in the raw plant during growth and harvest. There are different cotton plants which produce different grades and qualities of refined cotton fibre. Our company undertakes contract manufacturing and trading of cotton bales.

 

Cotton Yarn :-  Cotton yarns are sized to achieve strength and abrasion resistance to withstand the motions of weaving. Yarn is a long continuous length of interlocked fibres, suitable for use in the production of textiles, sewing, crocheting, knitting, weaving, embroidery, and rope making. We purchase raw cotton from suppliers which is then converted into yarn. This process is done on job work basis with the manufacturing units. After converting raw cotton into yarn, we sell the finished product as yarn to the end users.

 

Cotton fabric :-  Cotton fabric is a type of natural cloth created out of the cotton plant fibres. Coming in a wide range of weaves, it is the most versatile and popular fabric in the world. cotton fabric means the fabric is not blended and is made of a stronger, softer, and more comfortable natural product consisting of fibres picked from the plant. We purchase yarn from the vendors and convert them into fabric by outsourcing with manufacturing units.

Piotex Industries IPO Date & Price Band Details

IPO Open Date May 10, 2024
IPO Close Date May 14, 2024
IPO Size ₹14.47 Crores, (1,539,600 Shares)
IPO Face Value ₹10 Per Equity Share"
IPO Price Band ₹94 Per Every Share
IPO Listing On BSE SME
IPO Retail Quota 50%
IPO QIB Quota -%
IPO NII Quota 50%
DRHP Draft Click Here
Anchor Investor Click Here

 

Piotex Industries IPO Market Lot Details

Application Lot Size Shares Amount
Retail Minimum 1 1200 ₹112,800
Retail Maximum 1 1200 ₹112,800
S-HNI Minimum 2 2400 ₹2,25,600

 

Object of the Issue

  1.  Funding the Working Capital Requirement.
  2.  General Corporate Purpose.
  3.  To Meet the Issue Expenses.

Piotex Industries IPO Allotment & Listing Date (Details)

IPO Open Date 10 May 2024
IPO Close Date 14 May 2024
Basis of Allotment 15 May 2024
Refunds 16 May 2024
Credit to Demat Account 16 May 2024
IPO Listing Date 17 May 2024

 

Piotex Industries Financial Reports

₹ in Crores
Year Revenue Expense PAT
2024 ₹118.46 ₹114.92 ₹3.01
2023 ₹86.01 ₹82.75 ₹2.89
2022 ₹80.22 ₹79.47 ₹0.74

 

Our Company Promoters-

  1. Mr. Abhay Shriram Asalkar 
  2. Mr. Yogesh Omprakash Nimodiya

 

Qualitative Factors

  • Experienced Management Team
  • Satisfied customer with quality
  •  Strong business model
  •  Established operations and proven track record

 

Piotex Industries Company Contact Details

F/II Block, Plot No. 16/2, M.I.D.C., Pimpri,
Pune Maharashtra- 411018, India.
Tel. No.: +91-9156744401
E-mail: office@piotex.in
Website: www.piotexindustries.com

 

Piotex Industries IPO Registrar

CAMEO CORPORATE SERVICES LIMITED
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

Company Strength-

Weakness :- 

  • Heavy dependence on suppliers and Job wokers.
  • High working capital requirement.
  • Insufficient market reach .

 

Opportunities :- 

  • Expanding new geographical area.
  • Opportunities in Indian Market.
  • Government thrust for development will boost in rise in demand.

 

Threats Of Company :-

  • Increased Competition from Big Players.
  • Change in Government Policies.
  • Rising labour wages.
  • There are no entry barriers in our industry which puts us to the threat of competition from new entrants.
  • Fluctuation in Raw Material Prices.

 

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