Piotex Industries Limited

Company Profile
Company Name Piotex Industries Limited
Open Date 10-05-2024
Close Date 14-05-2024
Exchange BSE SME
Lot Size 1200 Shares
Issue Price ₹94 per share
Issue Size 15,39,600 shares
Application Amount ₹1,12,800
Recommendation Avoid
Originally incorporated in 2019, Piotex Industries Limited has its registered office in Pimpri, Pune, Maharashtra. The company is into contract manufacturing and trading of cotton bales, cotton yarn and fabric in Maharashtra's textile hubs namely Malegaon, Ichalkaranji and Bhiwandi. The company also supplies cotton yarn to Burhanpur and Ahmedabad. In 2022-23, the company began fabric trading by supplying yarn to contract workers and the weaving mills to produce finished fabric for sale. The company has a Sole Selling Agency agreement with Babasaheb Deshmukh Industries Private Limited for Cotton Yarn. As on March 31, 2024 the Company had 18 employees, including project managers and quality assurance specialists, on payroll.
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Financial Summary in Lakhs

For the Period Ended Mar-21 Mar-22 Mar-23
Total Assets 1,385.47 1,757.48 3,610.58
Net Assets 151.32 440.07 938.87
Total Borrowings 528.58 372.30 445.94
Total Revenue 8,046.38 8,667.21 11,893.88
Profit After Tax 74.27 288.76 300.79

Tentative Timeline

Opening Date 10-05-2024
Closing Date 14-05-2024
Basis of Allotment 15-05-2024
Initiation of Refunds 16-05-2024
Credit of Shares to Demat 16-05-2024
Listing Date 17-05-2024

Objects of the Issue

Working Capital Requirements.
General Corporate Purposes.

Contact Information

Registered Office Piotex Industries Limited F/II Block, Plot No. 16/2, M.I.D.C., Pimpri Pune - 411018
Phone +91-9156744401
Email office@piotex.in
Website https://piotex.in/

Registrar Details

Name Cameo Corporate Services Limited
Phone +91-44-28460390
Email ipo@cameoindia.com
Website https://ipo.cameoindia.com/

IPO Reservation

Anchor Investor Shares Offered -
Market Maker Shares Offered 78,000 (5.07%)
Other Shares Offered 730,800 (47.47%)
Retail Shares Offered 730,800 (47.47%)

Shareholding Pattern

Share Holding Pre Issue (Promoters) 94.44%
Share Holding Post Issue (Promoters) 65.95%

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