Piotex Industries Ltd

About the Company:

Piotex Industries Ltd is engaged in the business of contract manufacturing and trading of yarn, fabric and cotton bales.

Company’s Products are used for various purposes such as garments & home furnishings, etc.

Company engages in trading of cotton bales and also manufactures cotton yarn through out-sourcing model (Job-work) which are almost always in demand by the garment manufacturing industry.

Company ensures the consistent quality of the Cotton Yarn as from the beginning we have the power of selection and control of raw material from Ginning.

Company also focuses in high quality of yarn and fabrics utilizing best technology, at the most competitive prices and maintaining long term association with our clients.



Company’s Products:

  1. Cotton Bales.
  2. Cotton Yarn.
  3. Cotton fabric.



Company is engaged mainly in 2 activities:

1.Trading of Cotton Bales, Synthetic Fiber, Cotton Yarn and Fabric:

The company was established in Oct 2019, and till then the company has started trading business of Cotton Bales and Cotton Yarn in the textile hub of Maharashtra viz. Malegaon, Ichalkaranji and Bhiwandi.

Also company supply the cotton yarn to Burhanpur and Ahmedabad. This business is already going on day to day, and also added fabric trading business from 2022-23. Also Company has a Sole Selling Agency agreement with Babasaheb Deshmukh Industries Private Limited for their finished product i.e. Cotton Yarn.

2.In the same way company started manufacturing through job work and Fabric Weaving job in which company provides the Yarn to jobworkers and weaving unit and they do the process of weaving on contracted charges and return the finished goods. The finished goods i.e. Fabric is then sold to customers.



Company’s Product wise Revenue Breakup:(in Lakhs) 



Management Team:

  1. Mr. Abhay Shriram Asalkar (Designation: Chairman cum Managing Director)
  2. Mr. Mr. Yogesh Omprakash Nimodiya (Designation: Executive Director and CFO)





Objectives of the Issue:

Fresh: (Rs.14.47 cr)

  • Funding the Working Capital Requirement.
  • General Corporate Purpose.




Fund Utilization:

Particulars Amount (Rs. in Crores)
Funding the Working Capital Requirement 10.51 cr
General Corporate Expenses 2.70 cr
Net Proceeds 13.21 cr





Peer Group Comparison:

There are no listed companies in India and abroad that is engaged in developing a similar line of product solution to that of Piotex Industries Ltd. Accordingly, it is not possible to provide a comparison of accounting ratios of industry with the Company.



Financials of the Company:

(in Crores) FY 22 FY 23 FY 24
Revenue 80.46 86.67 118.93
Net Profit 0.74 2.88 3.0




IPO Details:

Details Info
Issue Opens on 10th May 2024
Issue Closes on 14th May 2024
Issue Price Rs.94
Face Value Rs.10
Minimum Lot  1200 Shares
Minimum Investment Rs.1,12,800
Issue Constitutes 30.17 %
Issue Size Rs. 14.47 cr 
Market Cap Rs.47.97 cr
Listing at BSE SME
Equity Shares Offered (Fresh) 15,39,600 (Rs.14.47 cr)
Equity Shares Prior to the Issue 35,64,000
Equity Shares after the Issue 51,03,600



Important Dates:

Finalization of Basis of Allotment on or Before 15th May 2024
Initiation of Refunds on or Before 16th May 2024
Credit of Equity Shares: on or Before 16th May 2024
Listing Date: on or Before 17th May 2024




IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
8.48 11.08 33.53% 25.17

Also Read:  Complete List of NSE/BSE Holidays List>>



Company Contact Info:
Piotex Industries Ltd
F/II Block, Plot No. 16/2, M.I.D.C., Pimpri,
Pune Maharashtra – 411018, India.
Tel. No.: +91-9156744401
E-mail: office@piotex.in
Website: www.piotexindustries.com


Registrar to the Issue:
No.01, Club House Road, Mount Road,
Chennai-600002, India.
Tel. No.: 044 40020700/28460390
Email: ipo@cameoindia.com
Website: www.cameoindia.com


Lead Manager to the Issue:
B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054,
Gujarat, India.
Tel. No.: +91-79-48407357
Email: mb@beelinemb.com
Website: www.beelinemb.com


Check IPO Allotment Status:

Cameo: http://www.CameoIPO.com/IPO/Allotment


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