Fixed Price IPO | ₹11 Cr | Listed at BSE SME | Thu, Dec 27, 2018 - Wed, Jan 2, 2019
Axita Cotton IPO is a fixed price issue of ₹10.51 crores. The issue is entirely a fresh issue of 0.18 crore shares of ₹10.51 crore.
Axita Cotton IPO bidding started from Dec 27, 2018 and ended on Jan 2, 2019. The allotment for Axita Cotton IPO was finalized on Jan 7, 2019. The shares got listed on BSE SME on Jan 10, 2019.
Axita Cotton IPO price is ₹60 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,40,000.
Beeline Broking Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Beeline Broking Ltd..
Refer to Axita Cotton IPO RHP for detailed Information.
IPO Open
Thu, Dec 27, 2018
IPO Close
Wed, Jan 2, 2019
Issue Price
₹60 per share
Market Cap (Pre-IPO)
₹39.31 Cr
| IPO Date | 27 Dec, 2018 to 2 Jan, 2019 |
| Listed on | Thu, Jan 10, 2019 |
| Face Value | ₹10 per share |
| Issue Price | ₹60 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 17,52,000 shares (agg. up to ₹11 Cr) |
| Reserved for Market Maker | 92,000 shares Beeline Broking Ltd. (agg. up to ₹0.5520 Cr) |
| Fresh Issue (Ex Market Maker) | 16,60,000 shares (agg. up to ₹10 Cr) |
| Net Offered to Public | 16,60,000 shares (agg. up to ₹10 Cr) |
| Share Holding Pre Issue | 48,00,000 shares |
| Share Holding Post Issue | 65,52,000 shares |
| BSE Script Code | 542285 |
| ISIN | INE02EZ01014 |
Axita Cotton IPO comprises a total issue size of 17,52,000 shares. The net offer to the public is 16,60,000 shares, after excluding 92,000 shares allotted on a firm basis. Of the Net offer 8,30,000 (50.00%) allocated to NII 8,30,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 8,30,000 | 50.00% | 47.37% |
| Retail Shares Offered | 8,30,000 | 50.00% | 47.37% |
| Firm Reservations | |||
| Market Maker Shares Offered | 92,000 | 5.25% | |
| Total Shares Offered | 17,52,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,20,000 |
| Retail (Max) | 1 | 2,000 | ₹1,20,000 |
| HNI (Min) | 2 | 4,000 | ₹2,40,000 |
Incorporated in 2013, Gujarat based Axita Cotton Limited is a company engaged in the manufacturing & export of cotton bales & cotton seeds. The company also does ginning and pressing of Kapas on a job work basis. It is a TUF (Technical upgradation fund ) Approved by Textile ministry of India- Govt. of. India).
The company's production facility is located at Kadi in Mahesana District of Gujarat state. It has installed 48 Ginning and Pressing machines with a capacity of processing 87,600 MTof seed cotton annually.
From 2016-17, Axita Cotton commenced exporting its products directly to Bangladesh, Pakistan, and Vietnam. During 2016, the promoters of the company floated a new company named, Axita Exports Private Limited ("AEPL"), a group company, with the aim to export cotton bales to various countries. AEPL exports cotton bales purchased from the company. It also purchases and exports cotton bales from other suppliers.
The company's revenue from operations reached to Rs 12327.02 Lakhs in 2017-18 from Rs 1736.08 Lakhs in 2013-14.
Axita Cotton has 23 permamnent employees in various departments.
| 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 | Net Incremental Working Capital Requirement | 10.00 |
The Axita Cotton IPO is subscribed 1.98 times on January 2, 2019 7:49:03 PM (Day 5). The public issue subscribed 1.55 times in the retail category, [.] times in the QIB category, and 2.4 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.4 | 8,30,000 | 19,94,000 |
| Retail | 1.55 | 8,30,000 | 12,88,000 |
| Total | 1.98 | 16,60,000 | 32,82,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission | 0.30 |
| 2 | Market Making Charges for first year of Listing | 0.03 |
| 3 | Fees Payable to Registrar to the Issue | 0.01 |
| 4 | Fees Payable to Advertising and Marketing Expenses | 0.03 |
| 5 | Fees Payable to Regulators including Stock Exchanges | 0.04 |
| 6 | Payment for Printing and Distribution of Issue Stationaries | 0.02 |
| 7 | Others (Fees Payable to Peer Review Auditor, Fees to Legal Advisors, Marketing Expenses, Brokerage, Processing Fees for Application and Miscellaneous Expenses) | 0.09 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹60.00 |
| Open | ₹61.00 |
| Low | ₹61.00 |
| High | ₹64.05 |
| Last Trade | ₹62.10 |
Lead Manager Reports
Axita Cotton IPO is a SME IPO of 17,52,000 equity shares of the face value of ₹10 aggregating up to ₹11 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 2000.
The IPO opens on Thu, Dec 27, 2018, and closes on Wed, Jan 2, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Axita Cotton IPO using UPI as a payment gateway. Zerodha customers can apply in Axita Cotton IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Axita Cotton IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Axita Cotton IPO opens on Thu, Dec 27, 2018 and closes on Wed, Jan 2, 2019.
Axita Cotton IPO lot size is 2000, and the minimum amount required for application is ₹1,20,000.
You can apply in Axita Cotton 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 Axita Cotton IPO will be done on Monday, January 7, 2019, and the allotted shares will be credited to your demat account by Wed, Jan 9, 2019. Check the Axita Cotton IPO allotment status.
The Axita Cotton IPO listing date is on Thu, Jan 10, 2019.
