Piotex Industries’ initial public offering (IPO) will be opening for subscription tomorrow on May 10, 2024 (Friday). The company’s IPO is hitting the capital market to raise Rs. 14.47 crore from retail investors.
The company said in a statement that its shares will be listed on the BSE’s SME platform.
Piotex Industries specializes in contract manufacturing and trading of yarn, fabric, and cotton bales. Their products are utilized for a variety of purposes, including clothes and home furnishings. Their technical team is well-equipped with modern technology and processing procedures to assure high-quality results.
Face Value of Piotex Industries IPO is Rs. 10 per equity share and IPO Price band is Rs. 94 per equity share.
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Before you subscribe here are some details which you must know about Piotex Industries initial public offering (IPO):
The IPO will be available for subscription on May 10, 2024, and will close on May 14, 2024. The allotment for the IPO is planned to be finalized on Wednesday, May 15, 2024.
According to the company’s financial data, its net worth was Rs 897.18 crores, its revenue was Rs. 11,893.88 crores, and its profit after tax was Rs. 300.80 crores for the quarter that ended on March 31, 2024.
The price per equity share of Poitex Industries initial public offering (IPO) has been fixed at Rs. 94 by the Pune-headquartered company.
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According to the Red Herring Prospectus (RHP), the public offer is a completely new issuance of up to 15,39,600 equity shares with a face value of Rs. 10 each.
Piotex Industries operates using an asset-lite approach. Customers use these products for various purposes, including clothing and home furnishings.
Investors will be able to bid a minimum of 1,200 equity shares and in multiples thereof.
The company intends to use the net proceeds from the new issue to fund its working capital needs, general corporate purposes, and meet issue expenses.
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Disclaimer: The above content is for informational purposes only. The 1% News recommends consulting a SEBI-registered investment advisor before making any investment decision.
