Fixed Price IPO | ₹4 Cr | Listed at NSE SME | Fri, Dec 27, 2019 - Fri, Jan 3, 2020
Vaxtex Cotfab IPO is a fixed price issue of ₹3.83 crores. The issue is entirely a fresh issue of 0.16 crore shares of ₹3.83 crore.
Vaxtex Cotfab IPO bidding started from Dec 27, 2019 and ended on Jan 3, 2020. The allotment for Vaxtex Cotfab IPO was finalized on Jan 8, 2020. The shares got listed on NSE SME on Jan 13, 2020.
Vaxtex Cotfab IPO price is ₹24 per share. The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (6000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (12,000 shares), amounting to ₹2,88,000.
Capital Square 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 NNM Securities Pvt.Ltd..
Refer to Vaxtex Cotfab IPO RHP for detailed Information.
IPO Open
Fri, Dec 27, 2019
IPO Close
Fri, Jan 3, 2020
Issue Price
₹24 per share
Market Cap (Pre-IPO)
₹14.46 Cr
| IPO Date | 27 Dec, 2019 to 3 Jan, 2020 |
| Listed on | Mon, Jan 13, 2020 |
| Face Value | ₹10 per share |
| Issue Price | ₹24 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 15,96,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 84,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹0.2016 Cr) |
| Fresh Issue (Ex Market Maker) | 15,12,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 15,12,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 44,27,500 shares |
| Share Holding Post Issue | 60,23,500 shares |
| NSE Symbol | VCL |
| ISIN | INE098201010 |
Vaxtex Cotfab IPO comprises a total issue size of 15,96,000 shares. The net offer to the public is 15,12,000 shares, after excluding 84,000 shares allotted on a firm basis. Of the Net offer 7,56,000 (50.00%) allocated to NII 7,56,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,56,000 | 50.00% | 47.37% |
| Retail Shares Offered | 7,56,000 | 50.00% | 47.37% |
| Firm Reservations | |||
| Market Maker Shares Offered | 84,000 | 5.26% | |
| Total Shares Offered | 15,96,000 | 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 | ₹1,44,000 |
| Retail (Max) | 1 | 6,000 | ₹1,44,000 |
| HNI (Min) | 2 | 12,000 | ₹2,88,000 |
Incorporated in 2005, Ahmedabad based Vaxtex Cotfab Limited is engaged in the business of Textile processing of fabric and trading. The Company does Processing (dyeing and finishing) of grey fabrics for shirting, suiting, and other accessories. It also works on an outsourcing basis for other fabric/garment companies.
Vartex has a processing unit and a Packing and Storage unit located at Narol, Ahmedabad in Gujarat. The installed capacity of the processing unit is 12,00,000 meters/month for processing of various fabrics from natural and man-made fibres specializing in 100% cotton, Giza & Supima cotton blended fabrics, polyester viscose and polyester cotton. The company undertakes corporate orders for Finished Fabrics from brands.
It also has a dedicated in-house Testing and Quality Control Team which undertakes testing and quality management.
Competitive Strengths
1. Strategic location advantage in Ahmedabad, Gujarat
2. Experienced promoters
3. Strong technical capabilities for maintaining high product quality
4. Sound financial track record with revenues showing an increase of 581.84% and
313.99% in 2016-17 and 2017-18.
| 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 | To acquire the Machinery | 0.59 |
| 2 | To meet Working Capital Requirements | 2.50 |
| 3 | General corporate purpose and | 0.44 |
| 4 | To meet the issue expenses | 0.30 |
The Vaxtex Cotfab IPO is subscribed 2.86 times on January 3, 2020 5:00:00 PM (Day 6). The public issue subscribed 3.97 times in the retail category, [.] times in the QIB category, and 1.75 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.75 | 7,98,000 | 13,98,000 |
| Retail | 3.97 | 7,98,000 | 31,68,000 |
| Total | 2.86 | 15,96,000 | 45,66,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to Merchant Banker, Registrar Fees, Legal Fees & Misc. Expenditure | 0.22 |
| 2 | Printing and Stationery Expenses | 0.01 |
| 3 | Advertising and Marketing Expenses, Brokerage & Selling Commission | 0.04 |
| 4 | Statutory Expenses | 0.04 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹24.00 |
| Open | ₹24.10 |
| Low | ₹23.30 |
| High | ₹25.00 |
| Last Trade | ₹24.80 |
Lead Manager Reports
Vaxtex Cotfab IPO is a SME IPO of 15,96,000 equity shares of the face value of ₹10 aggregating up to ₹4 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000.
The IPO opens on Fri, Dec 27, 2019, and closes on Fri, Jan 3, 2020.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Vaxtex Cotfab IPO using UPI as a payment gateway. Zerodha customers can apply in Vaxtex Cotfab IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vaxtex Cotfab IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vaxtex Cotfab IPO opens on Fri, Dec 27, 2019 and closes on Fri, Jan 3, 2020.
Vaxtex Cotfab IPO lot size is 6000, and the minimum amount required for application is ₹1,44,000.
You can apply in Vaxtex Cotfab 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 Vaxtex Cotfab IPO will be done on Wednesday, January 8, 2020, and the allotted shares will be credited to your demat account by Fri, Jan 10, 2020. Check the Vaxtex Cotfab IPO allotment status.
The Vaxtex Cotfab IPO listing date is on Mon, Jan 13, 2020.
