Axita Cotton IPO

Axita Cotton IPOAxita Cotton IPO Description - Axita Cotton was established in 2013 with the aim of conducting business of Ginning and Pressing of seed cotton (Kapas). The company has installed 48 Ginning and Pressing machines which is having capacity of processing 87,600 MT/Per annum of seed cotton. The plant is equipped with modern and automatic plant and machinery.

The company is producing cotton bales and cotton seeds. Axita Cotton is producing mainly two varieties of cotton bales namely Shankar-6 and MCU-5/MECH. The production facility of the company is situated at Kadi in Mahesana District of Gujarat state which is close to the rich cotton growing areas of Maharashtra, Saurashtra and other regions of Gujarat. Its products are sold in the state of Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. It is also engaged in the business of trading of Kapas, cotton bales and cotton seeds while ginning and pressing of Kapas on job work basis.

In 2015, Axita Cotton started exporting products through merchandise exporters. From Financial year 2016-2017 onwards, the company also commenced exporting its products directly to few countries namely Pakistan, Bangladesh and Vietnam.

Promoters of Axita Cotton – Mr Nitinbhai Govindbhai Patel, Mr Kushal Nitinbhai Patel and Mr Amitkumar Govindbhai Patel
Axita Cotton IPO details
Subscription Dates 27 December 2018 - 2 January 2019
IPO Price band INR60 per share
Fresh issue 1,752,000 shares (INR10.51 crore)
Offer for sale Nil
Total IPO size 1,752,000 shares (INR10.51 crore)
Minimum bid (lot size) 2,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On BSE SME platform
Use of funds
  • Net Incremental Working Capital Requirement - INR10.00 crore
  • Issue Expenses - INR0.51 crore
Axita Cotton's financial performance (in INR crore)
FY2014 FY2015 FY2016 FY2017 FY2018 Q1 FY2019
Total revenue 17.36 77.05 68.76 91.52 123.92 21.22
Total expenses 17.26 77.36 68.59 91.51 122.83 20.72
Profit after tax 0.06 -0.29 0.12 0.03 0.82 0.33
Axita Cotton's Contact Details

Axita Cotton Limited
Servey No. 324, 357, 358
Kadi Thol Road, Borisana, Kadi
Mahesana-382715, Gujarat

Phone: +91 63587 47514
Email: cs@axitacotton.com
Website: www.axitacotton.com

Axita Cotton IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.60
Day 2 1.00
Day 3 1.13
Day 4 1.28
Day 5 1.87
Axita Cotton Valuation (For FY2018)

Earnings Per Share (EPS): INR3.29

Price/Earnings (P/E) ratio: 18.26

Return on Net Worth (RONW): 25.97

Net Asset Value (NAV): INR12.65 per share

Registrar of Axita Cotton IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai - 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: axita.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Axita Cotton IPO Allotment Status

Axita Cotton IPO allotment status is now available on Link Intime's website. Click on this link to get allotment status.

Listing performance of Axita Cotton

IPO Opening Date: 27 December 2018

IPO Closing Date: 2 January 2019

Finalisation of Basis of Allotment: 7 January 2019

Initiation of refunds: 8 January 2019

Transfer of shares to demat accounts: 9 January 2019

Listing Date: 10 January 2019

Listing Price on BSE SME: INR61 per share (up 1.67% from IPO price)

Closing Price on BSE SME: INR62.1 per share (up 3.5% from IPO price)

Axita Cotton IPO
3.2 (63.33%) 6 votes

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