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Axita Cotton IPO is a fixed price issue of Rs 10.51 crores.
Axita Cotton IPO bidding started from December 27, 2018 and ended on January 2, 2019. The allotment for Axita Cotton IPO was finalized on Monday, January 7, 2019. The shares got listed on BSE SME on January 10, 2019.
Axita Cotton IPO price is ₹60 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹120,000.
Beeline Broking Ltd is the book running lead manager of the Axita Cotton IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Axita Cotton IPO RHP for detailed information.
| IPO Date | December 27, 2018 to January 2, 2019 |
| Listing Date | January 10, 2019 |
| Face Value | ₹10 per share |
| Price | ₹60 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 1,752,000 shares (aggregating up to ₹10.51 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Market Maker portion | 92,000 shares |
Axita Cotton IPO offers 1,752,000 shares. 830,000 (47.37%) to NII, 830,000 (47.37%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 92,000 (5.25%) |
| Other Shares Offered | 830,000 (47.37%) |
| Retail Shares Offered | 830,000 (47.37%) |
| Total Shares Offered | 1,752,000 (100%) |
Axita Cotton IPO opens on December 27, 2018, and closes on January 2, 2019.
| IPO Open Date | Thursday, December 27, 2018 |
| IPO Close Date | Wednesday, January 2, 2019 |
| Basis of Allotment | Monday, January 7, 2019 |
| Initiation of Refunds | Tuesday, January 8, 2019 |
| Credit of Shares to Demat | Wednesday, January 9, 2019 |
| Listing Date | Thursday, January 10, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 2, 2019 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹120,000 |
| Retail (Max) | 1 | 2000 | ₹120,000 |
| Lot Size Calculator | |||
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.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 30-Jun-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 2,556.03 | 2,229.49 | 1,750.51 | 1,387.41 | 1,330.79 | 1,324.53 |
| Total Revenue | 2,121.59 | 12,392.36 | 9,152.24 | 6,875.95 | 7,705.35 | 1,736.10 |
| 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.
[Dilip Davda]
Financial performance is average, issue pricing is very aggressive. Currently textile segment is not fancied by investors. Considering all these, there is no harm in giving this issue a miss.
Read detail review...The Axita Cotton IPO is subscribed 1.98 times on January 2, 2019 7:49:03 PM. The public issue subscribed 1.55 times in the retail category, times in the QIB category, and 2.40 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.40 |
| Retail | 1.55 |
| Total | 1.98 |
| Listing Date | January 10, 2019 |
| BSE Script Code | 542285 |
| NSE Symbol | |
| ISIN | INE02EZ01014 |
| Final Issue Price | ₹60 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹60.00 |
| ₹61.00 |
| ₹61.00 |
| ₹64.05 |
| ₹62.10 |
Axita Cotton Limited
Survey No. 324, 357, 358,
Kadi Thol Road, Borisana,
Kadi, Mahesana-382715
Phone: +91 63587 47514
Email: cs@axitacotton.com
Website: http://www.axitacotton.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: axita.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Axita Cotton IPO is a SME IPO of 1,752,000 equity shares of the face value of ₹10 aggregating up to ₹10.51 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 2000 Shares.
The IPO opens on December 27, 2018, and closes on January 2, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Axita Cotton IPO opens on December 27, 2018 and closes on January 2, 2019.
Axita Cotton IPO lot size is 2000 Shares, and the minimum amount required is ₹120,000.
You can apply in Axita Cotton 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Axita Cotton IPO will be done on Monday, January 7, 2019, and the allotted shares will be credited to your demat account by Wednesday, January 9, 2019. Check the Axita Cotton IPO allotment status.
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