Akshar Spintex Limited IPO (Akshar Spintex IPO) Detail

Apr 27, 2018 - May 3, 2018

Incorporated in 2013, Gujarat based Akshar Spintex Limited is a company engaged in the manufacturing of cotton yarn. The company manufactures 100% cotton yarn which includes combed, semi-combed and carded yarn.

The manufacturing facility of the Company is situated in the vicinity of the rich cotton growing areas of Gujarat. The company has installed capacity of total 24,480 spindles.

The company has 216 employees on its payroll.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lacs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 8218.88 7487.82 7029.73 2479.56
Total Revenue 9038.94 5984.38 1561.73 0
Profit After Tax 538.61 266.94 (51.25) 0

Objects of the Issue

The Objects Of The Issue are:

1. Funding the working capital requirements of the Company
2. General corporate purposes.

Akshar Spintex IPO Details

IPO Date Apr 27, 2018 to May 3, 2018
Listing Date Friday, May 11, 2018
Face Value ₹10 per share
Price ₹40 per share
Lot Size 3000 Shares
Issue Size6,747,000 shares of ₹10
(aggregating up to ₹26.99 Cr)
Issue Type Fixed Price Issue IPO
Listing At BSE SME
Company Promoters

The Promoters of Company are Ashok Bhalala, Amit Gadhiya, Harikrishna Chauhan and Rekhaben Chauhan. The promoters hold, in aggregate 65,00,100 Equity Shares representing 27.08% of the pre-issue paid up Capital of the Company.

Akshar Spintex IPO Lot Size

The Akshar Spintex IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000

Akshar Spintex IPO Review

Investors may consider investment for long term in this fully priced issue. Read detail review...

Akshar Spintex IPO Subscription Status (Bidding Detail)

The Akshar Spintex IPO is subscribed 5.49 times on May 3, 2018 5:00:00 PM. The public issue subscribed 9.24 times in the retail category, times in the QIB category, and 1.71 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Akshar Spintex IPO Prospectus

Akshar Spintex IPO Rating

Rating:Rated 4.0 stars
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Akshar Spintex IPO Listing Date

Listing Date Friday, May 11, 2018
BSE Script Code 541303
Listing In MT Group of Securities
ISIN INE256Z01017
IPO Price ₹40 per share
Face Value ₹10 per share

Listing Day Trading Information

IPO Price
Last Trade

Company Contact Information

Akshar Spintex Limited
Revenue Survey No. 102/2, Paiki, Plot No. 2,
Village - Haripar, Ranuja Road,
Tal - Kalavad, Jamnagar - 361013
Phone: +9198252 13622

Akshar Spintex IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Akshar Spintex IPO Review

Akshar Spintex IPO Recommendation Summary

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Akshar Spintex IPO FAQs

Akshar Spintex IPO is a SME IPO of 6,747,000 equity shares of the face value of ₹10 aggregating up to ₹26.99 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000 Shares.

The IPO opens on Apr 27, 2018, and closes on May 3, 2018.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

The Akshar Spintex IPO opens on Apr 27, 2018 and closes on May 3, 2018.

Akshar Spintex IPO lot size is 3000 Shares and the minimum order quantity is .

You can apply in Akshar Spintex IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Akshar Spintex IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Akshar Spintex IPO allotment status.

The Akshar Spintex IPO listing date is on Friday, May 11, 2018.
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Akshar Spintex IPO Message Board

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100. AshishMane |   Link |Jul 1, 2018 10:11:38 PM
anyone still holding shares of Akshar spintex?
100.1. dipandesai |   Link |Jul 4, 2018 1:03:08 PM
yes i am hold for 5 lots.
100.2. Small Investor |   Link |Jul 11, 2018 4:51:06 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
fair value of this stock ?
99. smallTimeInvestor |   Link |May 27, 2018 1:29:45 AM
Going down every day.. now circuit is 20%. Hope it rebounds back.
99.1. AshishMane |   Link |May 28, 2018 2:01:12 AM
Hopefully it will rebound back!!
99.2. smallTimeInvestor |   Link |May 28, 2018 11:42:28 PM
Today 10% up.. Let's see if it sustains.
98. smallTimeInvestor |   Link |May 16, 2018 9:56:47 PM
Traded quantity is 7.23 lakhs. Still in lower circuit. Does this someone is accumulating this in lower price?

Can someone experienced in forum explain, what this indicates and what is the future of this company?
98.2. smallTimeInvestor |   Link |May 18, 2018 12:52:06 AM
Thanks johny,
How is future of this company? Should this turn around?
I see two bulk buy deals:
16 May 2018      OSCAR FABRIC YARN      P      189000      34.35
15 May 2018      RASILABEN CHATURBHAI SORATHIYA      P      138000      35.63
98.3. Johny |   Link |May 18, 2018 6:31:45 PM
IPO Mentor IPO Mentor (700+ Posts, 900+ Likes)
Regarding the future of the company, I cannot comment as neither I am expert nor have studied the company. I normally follow Davda Sir's recommendations who has advised to invest for long term.
As for bulk deals nothing unusual about it. Most of the SMEs have similar kind of bulk deals.
It has closed in UC today which is good news.
Regarding it listing at discount and falling subsequently, I think it was just to punish the S2 guys.
97. mittaldatt |   Link |May 17, 2018 1:18:57 PM
Yes wait for 1 year
96. mittaldatt |   Link |May 17, 2018 2:26:59 AM
Pure gambaling
96.1. smallTimeInvestor |   Link |May 17, 2018 1:17:43 PM
Are you still holding 3 lots? Today again lc.
95. mittaldatt |   Link |May 16, 2018 5:11:34 PM
Lets hope for best tomorrow
94. ronak tilva |   Link |May 16, 2018 4:06:49 PM
Lc with very less volume so once market stable it will grow automatically
93. ronak tilva |   Link |May 16, 2018 3:41:57 PM
I m positive on this stock. Now no more selling presure here so m not vary.
92. mittaldatt |   Link |May 16, 2018 3:07:39 PM
Ronakbhai what is yu view
91. mittaldatt |   Link |May 16, 2018 10:46:44 AM
Again come on same level no volum
90. ronak tilva |   Link |May 15, 2018 2:05:17 PM
yes it can recover from here. 5.58 lac shares traded
90.2. Johny |   Link |May 15, 2018 3:43:45 PM
IPO Mentor IPO Mentor (700+ Posts, 900+ Likes)
May be what you looked at was last traded quantity. From the link you shared

TTQ(Lakh)      9.09
90.3. smallTimeInvestor |   Link |May 15, 2018 4:49:51 PM
Thanks Johny. It is trading atleast upwards. Hope it reaches Issue Price and hopefully give some gains also.
89. ronak tilva |   Link |May 15, 2018 4:45:56 PM
Now wait for few days for gain profit
88. mittaldatt |   Link |May 15, 2018 1:32:09 PM
Today to much volume i think its reverse today around 2 pm
88.1. Small Investor |   Link |May 15, 2018 4:05:39 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
tushy great ho sir
87. mittaldatt |   Link |May 15, 2018 4:03:43 PM
Now what to do
86. ronak tilva |   Link |May 15, 2018 3:58:08 PM
85. mittaldatt |   Link |May 15, 2018 3:56:14 PM
Treading start
84. ronak tilva |   Link |May 15, 2018 3:50:48 PM
Soon out from lc....
83. smallTimeInvestor |   Link |May 15, 2018 1:25:29 PM
Flopshow by Panthomath. My bad luck. First time got 1 lot and losing lot of money!! I hope it rebounds and I recover some amount for my investment.
@Umang sir: Do you think this company has future prospects? Should I hold or book loss when i get chance to sell?
Also if there is 100% delivery, who is buying this share? Is Panthomath/big investors are buying?
82. ankur garg |   Link |May 15, 2018 12:19:31 PM
my tweet regarding akshar spintex scam

@pantomath_group @varinder_bansal @CNBCBajar @mahavirlunawat akshar ipo distroy pantomath brand,the only reason to apply is pantomath track record 3 L.C where your study . very big cheater how survive in
pms@PantomathAmc ,call farzi pramoter in know your company
please retweet it (@ankur_nivesh)
82.1. Umang and his ultrasonic uproar |   Link |May 15, 2018 12:33:56 PM
IPO Mentor IPO Mentor (600+ Posts, 600+ Likes)
Even how cautious you are, you will catch one snake in a year in sme segment.
Even I got surprised when I see 3 consecutive L. C. where Pantomath as L. M.
I don't think this L. C. will stop until 2 to 3 trading session more.

Dicl::: I haven't applied in any SME after sarveshwar flop show.
81. ronak tilva |   Link |May 15, 2018 10:55:33 AM
i will not sell my 1 lot of akshar. because there is no negative things of this stock. i believe it will above ipo price soon. i am 100 % sure.