Fixed Price IPO | ₹27 Cr | Listed at BSE SME | Fri, Apr 27, 2018 - Thu, May 3, 2018
Akshar Spintex IPO is a fixed price issue of ₹26.99 crores. The issue is a combination of fresh issue of 0.10 crore shares aggregating to ₹4.00 crores and offer for sale of 0.57 crore shares aggregating to ₹22.99 crores.
Akshar Spintex IPO bidding started from Apr 27, 2018 and ended on May 3, 2018. The shares got listed on BSE SME on May 11, 2018.
Akshar Spintex IPO price is ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Pantomath Stock Brokers Pvt.Ltd..
Refer to Akshar Spintex IPO RHP for detailed Information.
IPO Open
Fri, Apr 27, 2018
IPO Close
Thu, May 3, 2018
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹100.00 Cr
| IPO Date | 27 Apr to 3 May, 2018 |
| Listed on | Fri, May 11, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 67,47,000 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 3,45,000 shares Pantomath Stock Brokers Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 6,54,000 shares (agg. up to ₹3 Cr) |
| Offer for Sale | 57,48,000 shares of ₹10 (agg. up to ₹23 Cr) |
| Net Offered to Public | 64,02,000 shares (agg. up to ₹26 Cr) |
| Share Holding Pre Issue | 2,40,00,000 shares |
| Share Holding Post Issue | 2,49,99,000 shares |
| BSE Script Code | 541303 AKSHAR |
| ISIN | INE256Z01017 |
Akshar Spintex IPO comprises a total issue size of 67,47,000 shares. The net offer to the public is 64,02,000 shares, after excluding 3,45,000 shares allotted on a firm basis. Of the Net offer 32,01,000 (50.00%) allocated to NII 32,01,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 32,01,000 | 50.00% | 47.44% |
| Retail Shares Offered | 32,01,000 | 50.00% | 47.44% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,45,000 | 5.11% | |
| Total Shares Offered | 67,47,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
Incorporated in 2013, Gujarat based Akshar Spintex Limited is a company engaged in the manufacturing of cotton yarn. The company manufactures 100% cotton yarn which includes combed, semi-combed and carded yarn.
The manufacturing facility of the Company is situated in the vicinity of the rich cotton growing areas of Gujarat. The company has installed capacity of total 24,480 spindles.
The company has 216 employees on its payroll.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the working capital requirements of the Company | 2.80 |
| 2 | General corporate purposes | 0.90 |
The Akshar Spintex IPO is subscribed 5.49 times on May 3, 2018 5:00:00 PM (Day 4). The public issue subscribed 9.24 times in the retail category, [.] times in the QIB category, and 1.71 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.71 | 32,01,000 | 54,66,000 |
| Retail | 9.24 | 32,01,000 | 2,95,89,000 |
| Total | 5.49 | 64,02,000 | 3,51,21,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 1.00 |
| 2 | Regulatory fees | 0.20 |
| 3 | Marketing and Other Expenses | 0.80 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹40.00 |
| Low | ₹38.00 |
| High | ₹40.25 |
| Last Trade | ₹38.00 |
Lead Manager Reports
Akshar Spintex IPO is a SME IPO of 67,47,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Apr 27, 2018, and closes on Thu, May 3, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Akshar Spintex IPO using UPI as a payment gateway. Zerodha customers can apply in Akshar Spintex IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Akshar Spintex IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Akshar Spintex IPO opens on Fri, Apr 27, 2018 and closes on Thu, May 3, 2018.
Akshar Spintex IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Akshar Spintex IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Akshar Spintex IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Akshar Spintex IPO allotment status.
The Akshar Spintex IPO listing date is on Fri, May 11, 2018.
