Business description – Akshar Spintex is engaged in manufacturing of cotton yarn. The company manufactures 100% cotton yarn which includes combed, semi combed and carded yarn. Its registered office is situated at Survey No. 102 Kalavad Ranuja Road, Kalavad District Rajkot, Gujarat. The manufacturing facility of the company is situated at Kalavad of Rajkot District in Gujarat state in 1,83,437 sq. ft. area which is in the vicinity of the rich cotton growing areas of Gujarat. The company has installed a capacity of total 24,480 spindles.
Promoters of Akshar Spintex – Ashok Bhalala, Amit Gadhiya, Harikrishna Chauhan and Rekhaben Chauhan
| Akshar Spintex IPO details | |
| Subscription Dates | 27 April – 3 May 2018 |
| IPO Price band | INR40 per share |
| Fresh issue | 999,000 shares (INR4.00 crore) |
| Offer for sale | 5,748,000 shares (INR22.99 crore) |
| Total IPO size | 6,747,000 shares (INR26.99 crore) |
| Minimum bid (lot size) | 3,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- Working Capital Requirements – INR2.80 crore
- General Corporate Purpose – INR0.90 crore
- Public Issue Expenses – INR0.30 crore
| Akshar Spintex’s financial performance (in INR crore) | ||||||
| FY2015 | FY2016 | FY2017 | 7M FY2018 | |||
| Total revenue | 15.62 | 59.84 | 90.39 | 55.60 | ||
| Total expenses | 15.37 | 56.37 | 84.21 | 49.93 | ||
| Profit after tax | -0.51 | 2.67 | 5.39 | 2.79 | ||
Akshar Spintex’s Contact Details
Akshar Spintex Limited
Revenue Survey No. 102/2, Paiki, Plot No. 2
Village – Haripar, Ranuja Road, Tal – Kalavad
Jamnagar – 361 013
Phone: +91 98252 13622
Email: [email protected]
Website: www.aksharspintex.in
Akshar Spintex IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.66 |
| Day 2 | 0.72 |
| Day 3 | 1.99 |
| Day 4 | 5.20 |
Akshar Spintex Valuation (Latest FY)
Earnings Per Share (EPS): INR2.24
Price/Earnings (P/E) ratio: 17.86
Return on Net Worth (RONW): 17.08%
Net Asset Value (NAV): INR13.14 per share
Registrar of Akshar Spintex IPO
Bigshare Services Private LimitedÂ
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E)
Mumbai – 400 072
Phone:Â +91 22Â 4043 0200Â
Fax:Â +91 22Â 2847Â 5201
Email:Â [email protected]
Website:Â www.bigshareonline.com
Akshar Spintex IPO Allotment Status
Akshar Spintex IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Listing performance of Akshar Spintex
IPO Opening Date: 27 April 2018
IPO Closing Date: 3 May 2018
Finalisation of Basis of Allotment: 8 May 2018
Initiation of refunds: 9 May 2018
Transfer of shares to demat accounts: 10 May 2018
Listing Date: 11 May 2018
Listing Price on BSE SME: INR40 per share (no change from IPO price)
Closing Price on BSE SME: INR38 per share (down 5% from IPO price)
