Axita Cotton IPO Description – Axita Cotton was established in 2013 with the aim of conducting business of Ginning and Pressing of seed cotton (Kapas). The company has installed 48 Ginning and Pressing machines which is having capacity of processing 87,600 MT/Per annum of seed cotton. The plant is equipped with modern and automatic plant and machinery.
The company is producing cotton bales and cotton seeds. Axita Cotton is producing mainly two varieties of cotton bales namely Shankar-6 and MCU-5/MECH. The production facility of the company is situated at Kadi in Mahesana District of Gujarat state which is close to the rich cotton growing areas of Maharashtra, Saurashtra and other regions of Gujarat. Its products are sold in the state of Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. It is also engaged in the business of trading of Kapas, cotton bales and cotton seeds while ginning and pressing of Kapas on job work basis.
In 2015, Axita Cotton started exporting products through merchandise exporters. From Financial year 2016-2017 onwards, the company also commenced exporting its products directly to few countries namely Pakistan, Bangladesh and Vietnam.
Promoters of Axita Cotton – Mr Nitinbhai Govindbhai Patel, Mr Kushal Nitinbhai Patel and Mr Amitkumar Govindbhai Patel
| Axita Cotton IPO details | |
| Subscription Dates | 27 December 2018 – 2 January 2019 |
| IPO Price band | INR60 per share |
| Fresh issue | 1,752,000 shares (INR10.51 crore) |
| Offer for sale | Nil |
| Total IPO size | 1,752,000 shares (INR10.51 crore) |
| Minimum bid (lot size) | 2,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | BSE SME platform |
Use of funds
- Net Incremental Working Capital Requirement – INR10.00 crore
- Issue Expenses – INR0.51 crore
| Axita Cotton’s financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | Q1 FY2019 | |
| Total revenue | 17.36 | 77.05 | 68.76 | 91.52 | 123.92 | 21.22 |
| Total expenses | 17.26 | 77.36 | 68.59 | 91.51 | 122.83 | 20.72 |
| Profit after tax | 0.06 | -0.29 | 0.12 | 0.03 | 0.82 | 0.33 |
Axita Cotton’s Contact Details
Axita Cotton Limited
Servey No. 324, 357, 358
Kadi Thol Road, Borisana, Kadi
Mahesana-382715, Gujarat
Phone: +91 63587 47514
Email: [email protected]
Website: www.axitacotton.com
Axita Cotton IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.60 |
| Day 2 | 1.00 |
| Day 3 | 1.13 |
| Day 4 | 1.28 |
| Day 5 | 1.87 |
Axita Cotton Valuation (For FY2018)
Earnings Per Share (EPS): INR3.29
Price/Earnings (P/E) ratio: 18.26
Return on Net Worth (RONW): 25.97
Net Asset Value (NAV): INR12.65 per share
Registrar of Axita Cotton IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email:Â [email protected]
Website:Â http://www.linkintime.co.in
Axita Cotton IPO Allotment Status
Axita Cotton IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of Axita Cotton
IPO Opening Date: 27 December 2018
IPO Closing Date: 2 January 2019
Finalisation of Basis of Allotment: 7 January 2019
Initiation of refunds: 8 January 2019
Transfer of shares to demat accounts: 9 January 2019
Listing Date: 10 January 2019
Listing Price on BSE SME: INR61 per share (up 1.67% from IPO price)
Closing Price on BSE SME:Â INR62.1 per share (up 3.5% from IPO price)
