Laxmi Cotspin IPO
Laxmi Cotspin is engaged in the business of cotton processing in textile industry with its production facilities located in cotton growing areas of Marathwada and Vidarbha region at Samangaon which is situated in the Jalna district of State of Maharashtra. The company is a manufacturer of yarn and has an existing open end and ring spinning unit to cater to the yarn markets in Maharashtra and Gujarat. The business is spread among home textiles, weaving sector, Denim Manufactures and hosiery manufacturers through open end yarn and ring spun yarn.
The company was established in year 2006 with a capacity of 13200 spindles with combers in the first phase. Over the years, it has expanded upto 16800 spindels with compact, lycra and slub attachment. Addition to this, the company has set up one open end unit with 1200 Rotors. The company has also started its own “Organic Cotton Farming Project and Better Cotton (BCI) Project” in Jalna District, with 4,750 farmers in 13,200 acre of cultivation land and yield capacity of initially 55,000 quintals Kapas (11,000 BCI certified own ginned cotton bales) further expanded upto 40,000 bales per crop seasons in near future.
Promoters of Laxmi Cotspin – Sanjay Rathi, Shivratan Mundada, Bhavesh Patel, Rajesh Bansal and Ashva Multi Trade Private Limited
|
Laxmi Cotspin IPO details |
|
| Subscription Dates | 17 – 22 Mar 2017 |
| IPO Price band | INR20 per share |
| Fresh issue | 4,800,000 shares (INR9.6 crore) |
| Offer for sale | Nil |
| Total IPO size | 4,800,000 shares (INR9.6 crore) |
| Minimum bid (lot size) | 6,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge platform |
|
Laxmi Cotspin’s financial performance (in INR crore) |
||||||
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | 9M FY2017 | |
| Total revenue | 85.71 | 102.38 | 115.12 | 106.77 | 113.57 | 52.69 |
| Total expenses | 84.90 | 98.94 | 110.42 | 103.79 | 110.73 | 50.43 |
| Profit after tax | 0.44 | 2.25 | 3.79 | 2.26 | 3.22 | 1.93 |
| Day | Subscription (no. of times) |
| Day 1 | 0.22 |
| Day 2 | 0.54 |
| Day 3 | 0.98 |
| Day 4 | 6.04 |
Laxmi Cotspin Limited
GUT No. 399, Samangaon- Kajla Road,
Samangaon, Jalna- 431 203
Phone: +91 2482 257 295
Email: [email protected]
Website: www.laxmicotspincom
Link Intime India Private Limited
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai – 400 078
Maharashtra, India
Phone: +91 22 2596 3838
Fax: +91 22 2594 6969
Email: [email protected]
Website: http://www.linkintime.co.in
Laxmi Cotspin IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
You can also check your IPO allotment status from your mobile at
http://linkintime.co.in/ipo
IPO Opening Date: 17 March 2017
IPO Closing Date: 22 March 2017
Listing Date: 31 March 2017
Listing Price on NSE SME: INR21 per share (return of 5% over IPO price)
Closing Price on NSE SME: INR19.9 per share (loss of 0.5% over IPO price)
