Axita Cotton Limited IPO

Axita Cotton Limited

Issue Open

Dec 27, 2018

Price Band

₹ 60

Issue Size

₹ 10.51 Cr

Credit of Shares to Demat

-

Issue Close

Jan 02, 2019

Bid Lot

2000

Listing Exchange

BSE SME

Cut off time for UPI Mandate Confirmation

-

Issue Type

Fixed Price Issue

Minimum Order Quantity

2000

Allotment Details

-

Face Value

Rs 10 Per Equity Share

Listing On

Jan 10, 2019

Refunds

-

About the company:

Axita cotton Limited is a TUF (Technical Upgradation Fund) Ginning Pressing company approved by the Textile Ministry of India. It is engaged in production and distribution of Cotton Bales and Cotton Seeds. The company has its working facility located at Khadi District - Mehsana (Gujarat) that is spread across 12000 square yards with well equipped latest machinery and technologies. It produces GIN 250000 KG of Raw Cotton and more than 500 Cotton Bales (170 KG) per day.

Date of Incorporation: The Company was incorporated as ‘Axita Cotton Private Limited’ in Ahmedabad on 16th July 2013. Subsequently, it was reformed to ‘ Axita Cotton Limited’ on 15th October 2018.

Promoters of Axita Cotton Limited: Mr Nitinbhai Govindbhai Patel, Mr Kushal Nitinbhai Patel, and Mr Amitkumar Govindbhai Patel are the promoters of Axita Cotton Limited.

Products and Services Offering: The Company is offering:

  • - Cotton Bales: Shankar- 6 variety and MCU 5/MECH Variety.

  • - Cotton Seeds.

Customer Segments: Axita Cotton Limited has diversified customer segments that are spread across domestic markets especially in the States of Gujarat, Rajasthan, Maharashtra and Madhya Pradesh. It also exports its products to few countries including Pakistan, Bangladesh, and Vietnam.

Objectives of Axita Cotton Limited IPO: The core objects of IPO are:

  • - Net Working Capital Requirements.

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

32.6

82.13

2.71

12.46

-28.51

5.85

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