Incorporated in 2013, Gujarat based Axita Cotton Limited is a company engaged in the manufacturing & export of cotton bales & cotton seeds. The company also does ginning and pressing of Kapas on a job work basis. It is a TUF (Technical upgradation fund ) Approved by Textile ministry of India- Govt. of. India).
The company's production facility is located at Kadi in Mahesana District of Gujarat state. It has installed 48 Ginning and Pressing machines with a capacity of processing 87,600 MTof seed cotton annually.
From 2016-17, Axita Cotton commenced exporting its products directly to Bangladesh, Pakistan, and Vietnam. During 2016, the promoters of the company floated a new company named, Axita Exports Private Limited ("AEPL"), a group company, with the aim to export cotton bales to various countries. AEPL exports cotton bales purchased from the company. It also purchases and exports cotton bales from other suppliers.
The company's revenue from operations reached to Rs 12327.02 Lakhs in 2017-18 from Rs 1736.08 Lakhs in 2013-14.
Axita Cotton has 23 permamnent employees in various departments.
The Promoters of Our Company are Nitinbhai Govindbhai Patel, Kushal Nitinbhai Patel and Amitkumar Govindbhai Patel.
|Particulars||For the year/period ended (in Rs. Lakhs)|
|Profit After Tax||32.60||82.13||2.71||12.46||(28.51)||5.85|
The proceeds of the Issue, after deducting Issue related expenses estimated to be Rs 1000 Lakhs will be utilized to fund the Net Incremental Working Capital Requirement of the company.
|Issue Open||Dec 27, 2018 - Jan 2, 2019|
|Issue Type||Fixed Price Issue IPO|
|Issue Size||1,752,000 Eq Shares of Rs 10 |
(aggregating up to Rs 10.51 Cr)
|Face Value||Rs 10 Per Equity Share|
|Issue Price||Rs 60 Per Equity Share|
|Market Lot||2000 Shares|
|Min Order Quantity||2000 Shares|
|Listing At||BSE SME|
|Bid/Offer Opens On||Dec 27, 2018|
|Bid/Offer Closes On||Jan 2, 2019|
|Finalisation of Basis of Allotment||Jan 7, 2019|
|Initiation of Refunds||Jan 8, 2019|
|Credit of Shares to Demat Acct:||Jan 9, 2019|
|IPO Shares Listing Date:||Jan 10, 2019|
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