Axita Cotton Limited IPO is all about to make its debut on 27 Dec 2018, with an issue size of 10.51CR.
Axita Cotton Limited(IPO), situated in Gujarat, was founded in 2013 and specializes in the production and export of cotton balls and cotton seeds. On a job-by-job basis, the firm also conducts kapas ginning and pressing. It is a TUF (Technical Upgradation Fund) approved by the Government of India’s Textile Ministry.
Axita Cotton began exporting directly to Bangladesh, Pakistan, and Vietnam in 2016-17. In 2016, the business’s promoters established Axita Exports Private Limited (“AEPL”), a group company, with the goal of exporting cotton bales to other nations. Cotton bales acquired by AEPL are exported. It also buys and sells cotton bales from other vendors.
Industry Overview
India is one of the largest producers of cotton in the world, and the cotton industry is a significant contributor to the country’s economy. The industry provides employment opportunities to millions of people, and it is estimated that over 60 million people in India are directly or indirectly associated with the cotton industry.
The Indian cotton industry has faced several challenges in recent years, including fluctuating prices, competition from other countries, and changes in consumer demand. However, despite these challenges, the industry has continued to grow, and it is expected to continue to do so in the future. The government of India has implemented several policies and initiatives to support the cotton industry, including subsidies for farmers and incentives for textile manufacturers.
Axita Cotton IPO Details
| IPO Date | Dec 27, 2018 to Jan 2, 2019 |
| Listing Date | Jan 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 |
Axita Cotton IPO Tentative Dates
| Event | Tentative Date |
| Opening Date | Dec 27, 2018 |
| Closing Date | Jan 2, 2019 |
| Basis of Allotment | Jan 7, 2019 |
| Initiation of Refunds | Jan 8, 2019 |
| Credit of Shares to Demat | Jan 9, 2019 |
| Listing Date | Jan 10, 2019 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Company Financials
| 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 |
Objects of the Issue
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.
Axita Cotton IPO Prospectus
Company Contact Information
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/
Axita Cotton IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: axita.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Axita Cotton IPO Lead Manager(s)
- Beeline Broking Ltd (Past IPO Performance)
