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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 ₹60.00 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). The minimum lot size investment for 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 Date | December 27, 2018 to January 2, 2019 |
| Listing Date | January 10, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹60 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 17,52,000 shares (aggregating up to ₹10.51 Cr) |
| Reserved for Market Maker | 92,000 shares Beeline Broking Ltd. (aggregating up to ₹0.5520 Cr) |
| Net Offered to Public | 16,60,000 shares (aggregating up to ₹9.96 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 48,00,000 shares |
| Share Holding Post Issue | 65,52,000 shares |
Axita Cotton IPO offers total 17,52,000 shares. Out of which 8,30,000 (47.37%) allocated to NII, 8,30,000 (47.37%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 92,000 (5.25%) |
| NII (HNI) Shares Offered | 8,30,000 (47.37%) |
| Retail Shares Offered | 8,30,000 (47.37%) |
| Total Shares Offered | 17,52,000 (100.00%) |
Axita Cotton IPO opens on December 27, 2018, and closes on January 2, 2019.
| IPO Open Date | Thu, Dec 27, 2018 |
| IPO Close Date | Wed, Jan 2, 2019 |
| Tentative Allotment | Mon, Jan 7, 2019 |
| Initiation of Refunds | Tue, Jan 8, 2019 |
| Credit of Shares to Demat | Wed, Jan 9, 2019 |
| Tentative Listing Date | Thu, Jan 10, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jan 2, 2019 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 30-Jun-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 2,556.03 | 2,229.49 | 1,750.51 | 1,387.41 | 1,330.79 | 1,324.53 |
| Total Revenue | 2,121.59 | 12,392.36 | 9,152.24 | 6,875.95 | 7,705.35 | 1,736.10 |
| Profit After Tax | 32.60 | 82.13 | 2.71 | 12.46 | (28.51) | 5.85 |
The Company Axita Cotton IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Net Incremental Working Capital Requirement | 10.00 |
[Dilip Davda] <p>Financial performance is average, issue pricing is very aggressive. Currently textile segment is not fancied by investors. Considering all these, there is no harm in giving this issue a miss.</p> Read detail review...
| Listing Date | January 10, 2019 |
| BSE Script Code | 542285 |
| NSE Symbol | |
| ISIN | INE02EZ01014 |
| Final Issue Price | ₹60 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹60.00 |
| Open | ₹61.00 |
| Low | ₹61.00 |
| High | ₹64.05 |
| Last Trade | ₹62.10 |
Axita Cotton Ltd.
Survey No. 324, 357, 358,
Kadi Thol Road, Borisana,
Kadi, Mahesana
Kadi, Gujarat, 382715
Phone: +91 63587 47514
Email: cs@axitacotton.com
Website: http://www.axitacotton.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: axita.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Axita Cotton IPO is a SME IPO of 17,52,000 equity shares of the face value of ₹10 aggregating up to ₹10.51 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 2000.
The IPO opens on December 27, 2018, and closes on January 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 December 27, 2018 and closes on January 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 Wednesday, January 9, 2019. Check the Axita Cotton IPO allotment status.
The Axita Cotton IPO listing date is on Thursday, January 10, 2019.
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