Vaxtex Cotfab Limited IPO Dates, Size, Allotment, Bid Details, GMP & DRHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Vaxtex Cotfab IPO release date, IPO offer price, subscription, Vaxtex Cotfab IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Vaxtex Cotfab Limited IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 7.3/10 |
| Company Reputation | 7.2/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.1/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 7.4/10 |
| Star Ratings | ★★★★☆ |
Summary of Vaxtex Cotfab IPO
They are engaged in the business of Textile processing of fabric and trading. The Company is engaged in the Processing of grey fabrics for shirting, suiting, and other accessories and also on outsourcing basis for other fabric/garment companies.
They have an installed capacity of 12,00,000 mtrs/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 procures Grey fabrics and processes it into Finish Fabric as per the client’s requirement. They process various fabrics like 100% Cotton – Lycra and Non-Lycra, Blended Cotton Suiting – Chief Value Cotton, Polyester Cotton, 100% Cotton Yarn Dyed, Polyester Viscose, Terry Rayon Suiting and Mock Linen. The Company also undertakes corporate orders for Finished Fabrics for corporate brands.
At their processing unit, they do the process of Dyeing and finishing of fabrics which is termed as finished fabric and is ready to use for processing. Further, finished fabrics are folded, checked and packed as per the client’s requirement. Then the packed fabrics are directly sent to the Storage unit or are delivered to client’s godown.
From FY 2015-16 to FY 2018-19 till 28-Feb-19, as per the Restated Financial Statements
In the past three (3) years their revenues have increased from Rs 65.42 lakhs in F. Y. 2015-2016 to Rs 446.06 lakhs in F. Y. 2016-17 and further to Rs 1846.63 lakhs in F. Y. 2017 -18, showing an increase of 581.84% and 313.99%. Their Net Profit after tax for the above mentioned periods are Rs 0.78 lakhs, Rs 1.85 lakhs and Rs 17.09 lakhs, respectively, showing an increase of 137.18% and 823.78%.
The revenue of the Company in these 3 years has grown at a CAGR of 431.29% and the profit after tax for the same period has grown at a CAGR of 368.08%. Their Revenue and Net profit for February 28, 2019 were Rs 1990.92 lakhs and Rs 82.23 lakhs respectively
The Promoters of this company are Mr. Khushant Gupta, Mr. Mithleshkumar M. Agrawal, M/s Qmin Pharma Private Limited, and M/s Miracle Stores Private Limited. The lead manager to the issue is Capital Square Advisors Pvt. Ltd and the Registrar to this issue is Bigshare Services Private Limited.
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Vaxtex Cotfab IPO Date
The opening and the closing date of Vaxtex Cotfab Limited IPO is Dec 27, 2019 – Jan 3, 2020.
Vaxtex Cotfab IPO Subscription (NSE SME)
| Day / Date | NII | RII | Total Subscription |
| 1st Day – Dec 27 | 0.05x | 0.25x | 0.15x |
| 2nd Day – Dec 30 | 0.22x | 0.59x | 0.40x |
| 3rd Day – Dec 31 | 0.29x | 0.89x | 0.59x |
| 4th Day – Jan 1 | 0.75x | 1.23x | 0.99x |
| 5th Day – Jan 2 | 1.42x | 2.05x | 1.73x |
| 6th Day – Jan 3 | 1.75x | 3.97x | 2.86x |
| Shares Offered or Net Issue | 798,000 | 798,000 | 1,596,000 |
The shares subscribed by the public will be updated here.
Vaxtex Cotfab IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Vaxtex Cotfab IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs 24.
Vaxtex Cotfab IPO Size / Share Offering
Issue of 15,96,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. 24 per Equity Share (including a share premium of Rs.14 per Equity share) aggregating Rs. 383.04 lakhs.
Vaxtex Cotfab Limited – Company Overview
The Company was incorporated as “Foolproof Vyapaar Private Limited” at Kolkata, West Bengal as a Private company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated December 26, 2005 bearing Corporate Identification Number U51109WB2005PTC106869 issued by Registrar of Companies, Kolkata, West Bengal.
Consequent the name of the company was changed from “Foolproof Vyapaar Private Limited” to “Vaxtex Cotfab Private Limited” as approved by shareholders of the company pursuant to a special resolution dated December 18, 2015 and Certificate of Incorporation was issued by Registrar of Companies Ahmedabad, Gujarat dated December 30, 2015.
Consequent upon the conversion of the Company to public limited company and as approved by the shareholders of the company pursuant to a special resolution dated March 05, 2018, the name of the Company was changed to “Vaxtex Cotfab Limited” and fresh certificate of incorporation dated March 21, 2018 was issued by the Registrar of Companies, Ahmedabad, Gujarat. The Corporate Identification Number of the Company is U51109GJ2005PLC076930.
Business strategies of Vaxtex Cotfab Limited
- Increasing Operational efficiency
- Expand Our Geographical network
- Enhance our Designing and Creativity
- Optimal Utilization of Resources
- To build-up a professional organization
Vaxtex Cotfab Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Vaxtex Cotfab Limited IPO
On the basis of Consolidated statement:-
| Amount (in INR Lakhs) |
||||
| 28-Feb-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 1,036.65 | 1,018.76 | 470.00 | 419.31 |
| Total Revenue | 1987.94 | 1846.63 | 432.27 | 62.57 |
| Total Expense | 1,882.37 | 1,819.58 | 442.22 | 64.29 |
| Profit After Tax | 82.23 | 17.09 | 1.85 | 0.78 |
Earnings per Equity Share (in lakhs)
| 28-Feb-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 19.49 | 4.24 | 0.46 | 0.19 |
From the above statements, one could find that the Vaxtex Cotfab Limited may perform well.
Vaxtex Cotfab Limited IPO – Promoters
The Promoter of this company is:
- Mr. Khushant Gupta
- Mr. Mithleshkumar M. Agrawal
- M/s Qmin Pharma Private Limited
- M/s Miracle Stores Private Limited
List of Related Parties (Key Managerial Personnel)
- Mr. Khushant Gupta: Managing Director
- Mr. Jaimin Kailash Gupta: CEO
- Mr. Pratapsingh B. Zala: CFO
- Mr. Tej Bharatbhai Hanj: Company Secretary & Compliance Officer
Interest in promotion of the Company
The Promoters are interested in the Company only to the extent of their respective Equity shareholding in the Company and any dividend distribution that may be made by the Company in the future.
Property Interest
The Promoter does not have any interest in any property acquired by the Company within three years preceding the date of filing this Draft Prospectus or any property proposed to be acquired by the Company or in any transaction with respect to the acquisition of land, construction of building or supply of machinery or any other contract, agreement or arrangement entered into by the Company and no payments have been made or are proposed to be made in respect of these contracts, agreements or arrangements
Interest in Intellectual Rights of the Company
The corporate name and logo have not been registered.
Vaxtex Cotfab IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 15,96,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 24 per share aggregating Rs. 383.04 lakhs. |
| Of which: | |
| Reserved for Market Makers | Upto 84,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 24 per share aggregating Rs. 20.16 lakhs |
| Net Issue to the Public | Upto 15,12,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 24 per share aggregating Rs. 362.88 lakhs |
| Of which: | |
| Retail Investors Portion | Upto 7,56,000 Equity Shares of Rs. 10 each at a price of M 14 per Equity Share will be available for allocation for Investors of up to Rs. 2.00 lakhs |
| Non-Retail Investors Portion | Upto 7,56,000 Equity Shares of Rs. 10 each at a price of M 14 per Equity Share will be available for allocation for Investors of up to Rs. 2.00 lakhs |
| Equity Shares outstanding prior to the Issue | 44,27,500 Equity Shares |
| Equity Shares outstanding after the Issue | Upto 60,23,500 Equity Shares |
Vaxtex Cotfab IPO Issue Object
The Company proposes to utilize the net proceeds towards the following objects:
- To acquire the Machinery;
- To meet Working Capital Requirements;
- General corporate purpose and
- To Meet the Issue Expenses
Vaxtex Cotfab IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Management expertise
- Cordial Relationship between management and labour
- Established Marketing Setup and Diversified Customer Base
- Long-standing relationship with clients & suppliers
- Strong Technological Capabilities
- Consistency in Quality and Service Standards
- Scalable Business Model
- Cost effective production and timely fulfilment of orders
- Strategic Location of Manufacturing and Utility Units
The relevant quantitative factors are:
On the basis of consolidated statement:-
| Basic & Diluted EPS | RONW | NAV (Rs.) | |
| 28-Feb-19 | 19.49 | 15.97% | 122.95 |
| 31-Mar-18 | 4.24 | 4.25% | 99.88 |
| 31-Mar-17 | 0.46 | 0.47% | 98.27 |
| 31-Mar-16 | 0.19 | 0.20% | 97.82 |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 24:
| Particulars | P/E ratio |
| Highest | – |
| Average | – |
| Lowest | – |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Vaxtex Cotfab Limited | 10 | 19.39 | 1.24 | 16.62% | 123.10 |
| 2 | Kavita Fabrics Limited | 10 | – | – | -0.04% | 10.27 |
| 3 | SKS Textiles Limited | 10 | 7.15 | 5.14 | 579% | 123.15 |
Vaxtex Cotfab Limited IPO Lead Managers
| Lead Managers |
| CapitalSquare Advisors Private Limited 208, 2nd Floor, AARPEE Centre, MIDC Road No:11, Andheri (E), Mumbai – 400093, Maharashtra, India Tel. No.: 022-66849999 Fax No :022-66849998 Email: mbd@capitalsquare.in Website: www.capitalsquare.com SEBI Registration No.: INM000012219 Contact Person: Mr. Tanmoy Banerjee/Mr. Saket Jain |
Vaxtex Cotfab IPO Registrar to offer
| Registrar to the Offer |
| Big Share Service Private Limited 1st Floor, Bharti Tin Work Building, Opp Vasant Oasis, Makwana Road, Marol, Andheri (E) Mumbai- 400059 Tel No: +91 020-62638200; Fax No: +91 022-62638299 Website: www.bigshareonline.com Email Id: ipo@bigshareonline.com Investor Grievance Id: investor@bigshareonline.com Contact Person: Mr. Srinivas Dornala SEBI Registration No: INR000001385 |
Vaxtex Cotfab Limited Other Details:
- Statutory Auditor – SSRV and Associates. Chartered Accountants
- Peer Review Auditor – SSRV and Associates. Chartered Accountants
- Bankers to the Company – ICICI Bank Ltd
Vaxtex Cotfab IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Vaxtex Cotfab IPO Grey Market Premium
The Vaxtex Cotfab IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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