Fixed Price IPO | ₹10 Cr | Listed at NSE SME | Fri, Mar 17, 2017 - Wed, Mar 22, 2017
Laxmi Cotspin IPO is a fixed price issue of ₹9.60 crores. The issue is entirely an offer for sale of 0.48 crore shares of ₹9.60 crore.
Laxmi Cotspin IPO bidding started from Mar 17, 2017 and ended on Mar 22, 2017. The shares got listed on NSE SME on Mar 31, 2017.
Laxmi Cotspin IPO price is ₹20 per share. The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (6000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (12,000 shares), amounting to ₹2,40,000.
Hem Securities 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 Hem Finlease Pvt.Ltd..
Refer to Laxmi Cotspin IPO RHP for detailed Information.
IPO Open
Fri, Mar 17, 2017
IPO Close
Wed, Mar 22, 2017
Issue Price
₹20 per share
Market Cap (Pre-IPO)
₹34.30 Cr
| IPO Date | 17 to 22 Mar, 2017 |
| Listed on | Fri, Mar 31, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | OFS only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 48,00,000 shares (agg. up to ₹10 Cr) |
| Reserved for Market Maker | 2,40,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹0.4800 Cr) |
| Offer for Sale | 45,60,000 shares of ₹10 (agg. up to ₹9 Cr) |
| Net Offered to Public | 45,60,000 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 1,71,47,670 shares |
| Share Holding Post Issue | 1,71,47,670 shares |
| NSE Symbol | LAXMICOT |
| ISIN | INE801V01019 |
Laxmi Cotspin IPO comprises a total issue size of 48,00,000 shares. The net offer to the public is 45,60,000 shares, after excluding 2,40,000 shares allotted on a firm basis. Of the Net offer 22,80,000 (50.00%) allocated to NII 22,80,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 22,80,000 | 50.00% | 47.50% |
| Retail Shares Offered | 22,80,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,40,000 | 5.00% | |
| Total Shares Offered | 48,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,20,000 |
| Retail (Max) | 1 | 6,000 | ₹1,20,000 |
| HNI (Min) | 2 | 12,000 | ₹2,40,000 |
Incorporated in 2008, Laxmi Cotspin Limited is a leading manufacturer of high quality cotton lint, cotton yarn, fabrics and garments. They are engaged in the business of cotton processing in textile industry. Company's business is spread among home textiles, weaving sector, Denim Manufactures and hosiery manufacturers through open end yarn and ring spun yarn.
Located in the district of Jalna, in the state of Maharashtra, India, the company started with a capacity of 13,200 spindles. In a short span of time, it has expanded its production facility to 16,800 spindles with compact, lycra and slub attachment. Addition to this they have set up one open end unit with 1200 Rotors. They manufacture quality pesticide free, organic & non organic cotton bales.
They export their yarn to Bangladesh, China, Russia, Brazil, Taiwan, Korea, Singapore, Colombia, Iran & Indonesia. They also sale their yarn to various corporate like Alok Indus, Gimatex, Hindustan Spg., Bombay Dyeing, Bharat Vijay Mills, Ashima Ltd and Maral Overseas Ltd.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Laxmi Cotspin IPO is subscribed [.] times on March 22, 2017 6:45:00 PM (Day 4). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, Underwritting and Selling Commission, Brokerages, payment to other intermediaries such as Legal Advisors, Registrars, Bankers etc and other Out of Pocket Expenses | 0.79 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹21.00 |
| Low | ₹19.50 |
| High | ₹21.35 |
| Last Trade | ₹19.90 |
Lead Manager Reports
Laxmi Cotspin IPO is a SME IPO of 48,00,000 equity shares of the face value of ₹10 aggregating up to ₹10 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on Fri, Mar 17, 2017, and closes on Wed, Mar 22, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Laxmi Cotspin IPO using UPI as a payment gateway. Zerodha customers can apply in Laxmi Cotspin IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Laxmi Cotspin IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Laxmi Cotspin IPO opens on Fri, Mar 17, 2017 and closes on Wed, Mar 22, 2017.
Laxmi Cotspin IPO lot size is 6000, and the minimum amount required for application is ₹1,20,000.
You can apply in Laxmi Cotspin 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 Laxmi Cotspin IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Laxmi Cotspin IPO allotment status.
The Laxmi Cotspin IPO listing date is on Fri, Mar 31, 2017.
