Lagnam Spintex IPO

Lagnam Spintex IPOBusiness description - Lagnam Spintex is an ISO 9001:2015 certified company engaged in the business of manufacture of high quality yarn for domestic and export market ranging from count Ne 4 to Ne 20 which is used in Denim, Terry Towels, Bottom Wears, Home Textiles and Industrial Fabrics etc. The manufacturing facility of the company is situated at A- 53, RIICO Growth Centre, Hamirgarh of Bhilwara District in Rajasthan State and spreads over 10,000 square meters. The company has at present an installed capacity of 1,920 rotors for cotton yarn having capacity to produce16.5 tonnes per day of high quality yarn. The company has been recognised as “One Star Export House” by the Director General of Foreign Trade with a certificate valid from 2017 to 2022. Lagnam Spintex is presently exporting cotton yarns to countries like Portugal, Italy, Germany, Belgium, South Africa, Slovenia, Columbia, China, Pakistan, Bangladesh and others. It supplies to customers, who are in fields like apparel and garment industry, industrial fabrics, towels, Denims etc.

Promoters of Lagnam Spintex – Dwarka Prasad Mangal, Anand Mangal & Lagnam Infotech Solutions Private Limited
Lagnam Spintex IPO details
Subscription Dates 4 - 7 September 2018
IPO Price band INR41 per share
Fresh issue 6,000,000 shares (INR24.60 crore)
Offer for sale Nil
Total IPO size 6,000,000 shares (INR24.60 crore)
Minimum bid (lot size) 3,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform
Use of funds
  • Part Finance the setting up of additional cotton yarn manufacturing facility - INR22 crore
  • Issue Expenses - INR2.60 crore
Lagnam Spintex's financial performance (in INR crore)
FY2014 FY2015 FY2016 FY2017 FY2018
Total revenue 42.06 49.83 56.56 75.38 84.54
Total expenses 40.30 47.97 53.38 69.87 78.82
Profit after tax 1.45 1.58 2.08 3.67 4.68
Lagnam Spintex's Contact Details

Lagnam Spintex Limited
A-51-53, RIICO Growth Centre
Hamirgarh
Bhilwara - 311001

Phone: +91 014 82 289210
Email: rparashar@lagnam.com
Website: www.lagnamspintex.com

Lagnam Spintex IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.26
Day 2 0.58
Day 3 1.17
Day 4 4.72

 

Lagnam Spintex Valuation (For latest FY)

Earnings Per Share (EPS): INR4.15

Price/Earnings (P/E) ratio: 9.88

Return on Net Worth (RONW): 17.72%

Net Asset Value (NAV): INR23.42 per share

Registrar of Lagnam Spintex IPO

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

Phone: +91 22 4043 0200 
Fax: 
+91 22 2847 5201
Email:
 ipo@bigshareonline.com
Website: www.bigshareonline.com

Lagnam Spintex IPO Allotment Status

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

Listing performance of Lagnam Spintex

IPO Opening Date: 4 September 2018

IPO Closing Date: 7 September 2018

Listing Date: 18 September 2018

Listing Price on NSE SME: INR41 per share (no change from IPO price)

Closing Price on NSE SME: INR38.95 per share (down 5% from IPO price)

Lagnam Spintex IPO
3 (60%) 1 vote

One thought on “Lagnam Spintex IPO

  • September 19, 2018 at 7:46 PM
    Permalink

    Spinning business has been under a huge stress in last couple of years. Moreover companies projected profitabity is based on the interest rate subsidies from government which is in my opinion not a right strategy to present the company to investors .

    Reply

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