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Vaxtex Cotfab IPO is a fixed price issue of Rs 3.83 crores.
Vaxtex Cotfab IPO bidding started from December 27, 2019 and ended on January 3, 2020. The allotment for Vaxtex Cotfab IPO was finalized on Wednesday, January 8, 2020. The shares got listed on NSE SME on January 13, 2020.
Vaxtex Cotfab IPO price is ₹24 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹144,000.
Capitalsquare Advisors Private Limited is the book running lead manager of the Vaxtex Cotfab IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Vaxtex Cotfab IPO RHP for detailed information.
| IPO Date | December 27, 2019 to January 3, 2020 |
| Listing Date | January 13, 2020 |
| Face Value | ₹10 per share |
| Price | ₹24 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 1,596,000 shares (aggregating up to ₹3.83 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 4,427,500 |
| Share holding post issue | 6,023,500 |
| Market Maker portion | 84,000 shares |
Vaxtex Cotfab IPO offers 1,680,000 shares. 798,000 (47.50%) to NII, 798,000 (47.50%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 84,000 (5.00%) |
| Other Shares Offered | 798,000 (47.50%) |
| Retail Shares Offered | 798,000 (47.50%) |
| Total Shares Offered | 1,680,000 (100%) |
Vaxtex Cotfab IPO opens on December 27, 2019, and closes on January 3, 2020.
| IPO Open Date | Friday, December 27, 2019 |
| IPO Close Date | Friday, January 3, 2020 |
| Basis of Allotment | Wednesday, January 8, 2020 |
| Initiation of Refunds | Thursday, January 9, 2020 |
| Credit of Shares to Demat | Friday, January 10, 2020 |
| Listing Date | Monday, January 13, 2020 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 3, 2020 |
Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹144,000 |
| Retail (Max) | 1 | 6000 | ₹144,000 |
| Lot Size Calculator | |||
The Promoters of the Company are Mr Khushant Gupta, Mr Mithleshkumar M Agrawal, Qmin Pharma Private Limited and Miracle Stores Private Limited.
| Share Holding Pre Issue | 98.50% |
| Share Holding Post Issue | 73.50 % |
Incorporated in 2005, Ahmedabad based Vaxtex Cotfab Limited is engaged in the business of Textile processing of fabric and trading. The Company does Processing (dyeing and finishing) of grey fabrics for shirting, suiting, and other accessories. It also works on an outsourcing basis for other fabric/garment companies.
Vartex has a processing unit and a Packing and Storage unit located at Narol, Ahmedabad in Gujarat. The installed capacity of the processing unit is 12,00,000 meters/month for processing of various fabrics from natural and man-made fibres specializing in 100% cotton, Giza & Supima cotton blended fabrics, polyester viscose and polyester cotton. The company undertakes corporate orders for Finished Fabrics from brands.
It also has a dedicated in-house Testing and Quality Control Team which undertakes testing and quality management.
Competitive Strengths
1. Strategic location advantage in Ahmedabad, Gujarat
2. Experienced promoters
3. Strong technical capabilities for maintaining high product quality
4. Sound financial track record with revenues showing an increase of 581.84% and
313.99% in 2016-17 and 2017-18.
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Jun-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 1,969.99 | 1,350.29 | 1,018.76 | 470.00 | |
| Total Revenue | 454.46 | 2,201.80 | 1,846.63 | 446.06 | |
| Profit After Tax | 33.58 | 60.20 | 17.09 | 1.85 | |
The company proposes to utilize the net proceeds towards the following objects:
1. To acquire the Machinery- 59.40 lakhs
2. To meet Working Capital Requirements- 250 lakhs
3. General corporate purpose- 43.60 lakhs
4. To Meet the Issue Expenses- 30.04 lakhs
[Dilip Davda] For the last three fiscals, it has given average performance. A sudden spurt in Q1 bottom line raises concern. Based on this super earnings issue is fully priced. Considering all there, there is no harm in giving this issue a miss. Read detail review...
The Vaxtex Cotfab IPO is subscribed 2.86 times on January 3, 2020 5:00:00 PM. The public issue subscribed 3.97 times in the retail category, times in the QIB category, and 1.75 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 1.75 |
| Retail | 3.97 |
| Total | 2.86 |
| Listing Date | January 13, 2020 |
| BSE Script Code | |
| NSE Symbol | VCL |
| ISIN | INE098201010 |
| Final Issue Price | ₹24 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹24.00 |
| ₹24.10 |
| ₹23.30 |
| ₹25.00 |
| ₹24.80 |
Vaxtex Cotfab Limited
Survey No 230 Opp Mariya Park
B/h Ranipur Vill Saijpur-Narol
Ahmedabad - 382405, Gujarat, India.
Phone: 91-9724496973/9727123004
Email: vaxtexcotfab@gmail.com
Website: http://www.vaxtexcotfab.com
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: investor@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Vaxtex Cotfab IPO is a SME IPO of 1,596,000 equity shares of the face value of ₹10 aggregating up to ₹3.83 Crores. The issue is priced at ₹24 per share. The minimum order quantity is 6000 Shares.
The IPO opens on December 27, 2019, and closes on January 3, 2020.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Vaxtex Cotfab IPO opens on December 27, 2019 and closes on January 3, 2020.
Vaxtex Cotfab IPO lot size is 6000 Shares, and the minimum amount required is ₹144,000.
You can apply in Vaxtex Cotfab IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Vaxtex Cotfab IPO will be done on Wednesday, January 8, 2020, and the allotted shares will be credited to your demat account by Friday, January 10, 2020. Check the Vaxtex Cotfab IPO allotment status.
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