Gujarat Hy-Spin Ltd

Gujarat Hy-Spin

About the Company:

Gujarat Hy-Spin is engaged in manufacturing of cotton yarns.Company had started with trading (including trading of products jobworked) of Cotton Bales,Cotton Seeds and Wash Oil and has now graduated to manufacturing of cotton yarns mainly in domestic market and third party exports to some extent.

Company is promoted by Maganlal Parvadiya and Chandulal Parvadia. They are in the field of cotton ginning and pressing since last two decades.

Company’s Promoters were cotton farmers and started activity of cotton ginning, pressing and oil in a partnership firm. With their knowledge in varieties of cotton, the promoters and have helped to achieve a turnover of over Rs. 50 Crores in a very short span since incorporation.

Company forayed into manufacturing of ring yarns in the year 2013.Currently they sell cotton yarns to the traders who further sell it to other Industrial units for weaving and other purposes.They also sell directly to Industrial units for weaving purpose.

Currently company has major presence in state of Gujarat and Maharashtra. Through their marketing executives Company desires to expand geographical presence and thereby increase the customer base.

Company’s Capacity Utilization:

Management Team:

  1. Mr.Maganlal Parvadiya (Designation: Chairman and Whole Time Director)
  2. Mr.Chandulal Parvadia (Designation: Whole Time Director)
  3. Mr.Kaushik Dave (Designation: Managing Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Maganlal Parvadiya 57,62,190 10.00
Chandulal Parvadia 34,68,470 10.00


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake(%)
Maganlal Parvadiya 34.40% 21.12%
Chandulal Parvadia 20.71% 7.42%
Promoter Group Entities             36.38%             36.38%
Total 91.49% 64.92%


Objectives of the Issue:

Offer for Sale: (Around Rs.4.45 crores)

  • Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 30th June 17
Revenue  1.89 12.42 52.12  51.89  52.04  26.39
Net Profit  0.089  (-0.14)  (-0.34)  0.036  0.15  0.17


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Gujarat Hy-Spin Limited 10 0.09 114.42 0.81% 10.77
Sambandam Spinning Mills Ltd 10 19.09 8.18 9.77 195.33
Shiva Texyarn Ltd 10 9.33 43.93 11.26 82.89
Kallam Spinning Mills Ltd 2 3.71 6.25 8.58 43.19
Nitin Spinners Limited 10 12.47 8.80 22.31 55.89


IPO Details:

Details Info
Issue Opens on 25th January 2018
Issue Closes on:. 31st January 2018
Issue Price Rs.10
Face Value Rs.10
Minimum Lot 10,000
Minimum Investment Rs.1,00,000
Issue Constitutes 26.56%
Issue Size Rs.4.45 cr
Market Cap Rs.16.75 cr
Listing at BSE SME
Total Equity Shares Offered (OFS) 44,50,000
Equity Shares Prior to the Issue 1,67,50,000
Equity Shares after the issue 1,67,50,000


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
0.09 114.42 0.81% 10.77


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Avoid NA NA


Company Contact Info:
Gujarat Hy-Spin Limited
P. O. Box No. 22,
Gundala Road, Gondal,
Rajkot-360311, Gujarat
Tel No.: 02825-297170
Fax No.: Not Available


IPO Registrar Info:
1st Floor, Bharat Tin Works Building Opp Vasant Oasis,
Makwana Road Marol, Andheri East Mumbai-400059,
Maharashtra, India
Tel: +91 22 62638200
;Fax: +91 22 62638299
Grievance Id:


Lead Manager to the Issue:
406-408, Keshva Premises, Behind Family Court,
Bandra Kurla Complex,Bandra East,
Mumbai – 400051, Maharashtra, India.
Tel: +91-22 6194 6700
Email: ipo@pantomathgroup.comInvestor