Akshar Spintex IPO

Akshar Spintex IPOBusiness description - Akshar Spintex is engaged in manufacturing of cotton yarn. The company manufactures 100% cotton yarn which includes combed, semi combed and carded yarn. Its registered office is situated at Survey No. 102 Kalavad Ranuja Road, Kalavad District Rajkot, Gujarat. The manufacturing facility of the company is situated at Kalavad of Rajkot District in Gujarat state in 1,83,437 sq. ft. area which is in the vicinity of the rich cotton growing areas of Gujarat. The company has installed a capacity of total 24,480 spindles.

Promoters of Akshar Spintex – Ashok Bhalala, Amit Gadhiya, Harikrishna Chauhan and Rekhaben Chauhan
Akshar Spintex IPO details
Subscription Dates 27 April - 3 May 2018
IPO Price band INR40 per share
Fresh issue 999,000 shares (INR4.00 crore)
Offer for sale 5,748,000 shares (INR22.99 crore)
Total IPO size 6,747,000 shares (INR26.99 crore)
Minimum bid (lot size) 3,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On BSE SME platform
Use of funds
  • Working Capital Requirements - INR2.80 crore
  • General Corporate Purpose - INR0.90 crore
  • Public Issue Expenses - INR0.30 crore
Akshar Spintex's financial performance (in INR crore)
FY2015 FY2016 FY2017 7M FY2018
Total revenue 15.62 59.84 90.39 55.60
Total expenses 15.37 56.37 84.21 49.93
Profit after tax -0.51 2.67 5.39 2.79
Akshar Spintex's Contact Details

Akshar Spintex Limited
Revenue Survey No. 102/2, Paiki, Plot No. 2
Village - Haripar, Ranuja Road, Tal - Kalavad
Jamnagar – 361 013

Phone: +91 98252 13622
Email: admin@aksharspintex.in
Website: www.aksharspintex.in

Akshar Spintex IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.66
Day 2 0.72
Day 3 1.99
Day 4 5.20
Akshar Spintex Valuation (Latest FY)

Earnings Per Share (EPS): INR2.24

Price/Earnings (P/E) ratio: 17.86

Return on Net Worth (RONW): 17.08%

Net Asset Value (NAV): INR13.14 per share

Registrar of Akshar Spintex IPO

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E)
Mumbai – 400 072

Phone: +91 22 4043 0200 
+91 22 2847 5201
Website: www.bigshareonline.com

Akshar Spintex IPO Allotment Status

Akshar Spintex IPO allotment status is now available on Bigshare Services' website. Click on this link to get allotment status.

Listing performance of Akshar Spintex

IPO Opening Date: 27 April 2018

IPO Closing Date: 3 May 2018

Finalisation of Basis of Allotment: 8 May 2018

Initiation of refunds: 9 May 2018

Transfer of shares to demat accounts: 10 May 2018

Listing Date: 11 May 2018

Listing Price on BSE SME: INR40 per share (no change from IPO price)

Closing Price on BSE SME: INR38 per share (down 5% from IPO price)

Akshar Spintex IPO
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