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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 ₹24.00 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). The minimum lot size investment for 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 Date | December 27, 2019 to January 3, 2020 |
| Listing Date | January 13, 2020 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹24 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 15,96,000 shares (aggregating up to ₹3.83 Cr) |
| Reserved for Market Maker | 84,000 shares NNM Securities Pvt.Ltd. (aggregating up to ₹0.2016 Cr) |
| Net Offered to Public | 15,12,000 shares (aggregating up to ₹3.63 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 44,27,500 shares |
| Share Holding Post Issue | 60,23,500 shares |
Vaxtex Cotfab IPO offers total 15,96,000 shares. Out of which 7,56,000 (47.37%) allocated to NII, 7,56,000 (47.37%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 84,000 (5.26%) |
| NII (HNI) Shares Offered | 7,56,000 (47.37%) |
| Retail Shares Offered | 7,56,000 (47.37%) |
| Total Shares Offered | 15,96,000 (100.00%) |
Vaxtex Cotfab IPO opens on December 27, 2019, and closes on January 3, 2020.
| IPO Open Date | Fri, Dec 27, 2019 |
| IPO Close Date | Fri, Jan 3, 2020 |
| Tentative Allotment | Wed, Jan 8, 2020 |
| Initiation of Refunds | Thu, Jan 9, 2020 |
| Credit of Shares to Demat | Fri, Jan 10, 2020 |
| Tentative Listing Date | Mon, Jan 13, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jan 3, 2020 |
Investors can bid for a minimum of 6,000 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 | 6,000 | ₹1,44,000 |
| Retail (Max) | 1 | 6,000 | ₹1,44,000 |
| HNI (Min) | 2 | 12,000 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Jun-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 1,969.99 | 1,350.29 | 1,018.76 | 470.00 | |
| Total Revenue | 454.46 | 2,201.80 | 1,846.63 | 446.06 | |
| Profit After Tax | 33.58 | 60.20 | 17.09 | 1.85 | |
The Company Vaxtex Cotfab 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 | 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 |
[Dilip Davda] For the last three fiscals, it has given average performance. A sudden spurt in Q1 bottom line raises concern. Based on this super earnings issue is fully priced. Considering all there, there is no harm in giving this issue a miss. Read detail review...
| Listing Date | January 13, 2020 |
| BSE Script Code | |
| NSE Symbol | VCL |
| ISIN | INE098201010 |
| Final Issue Price | ₹24 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹24.00 |
| Open | ₹24.10 |
| Low | ₹23.30 |
| High | ₹25.00 |
| Last Trade | ₹24.80 |
Vaxtex Cotfab Ltd.
Survey No 230 Opp Mariya Park
B/h Ranipur Vill
Saijpur-Narol
Ahmedabad, Gujarat, 38240
Phone: 9724496973
Email: vaxtexcotfab@gmail.com
Website: http://www.vaxtexcotfab.com
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: investor@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vaxtex Cotfab IPO is a SME IPO of 15,96,000 equity shares of the face value of ₹10 aggregating up to ₹3.83 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000.
The IPO opens on December 27, 2019, and closes on January 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 December 27, 2019 and closes on January 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 Friday, January 10, 2020. Check the Vaxtex Cotfab IPO allotment status.
The Vaxtex Cotfab IPO listing date is on Monday, January 13, 2020.
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