Avi Ansh Textile is scheduled to hit the market on September 20, 2024 and close on September 24, 2024. Avi Ansh Textile plans to raise around ₹26.00 Cr through an IPO with a sale of up to 4,193,541 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Avi Ansh Textile Limited was started in April 2005 and is known for making and exporting 100% cotton yarn. They produce both combed and carded cotton yarn in different counts. The company is proud to have ISO 14001:2015 and ISO 9001:2015 certifications, which show their focus on environmental care and quality. They serve both local and international markets, providing a range of yarns and fabrics to meet various customer needs.
The company has spinning factories with a total capacity of 26,000 spindles, allowing them to produce around 4,500 metric tons of cotton yarn each year in counts from 20s to 40s. As of September 2024, Avi Ansh Textile Limited employs 281 people across different departments. Their strengths include a well-located manufacturing plant, a wide range of quality products, and a skilled management team with significant experience in the industry.
Avi Ansh Textile IPO Details
Avi Ansh Textile IPO opens on September 20, 2024, and closes on September 24, 2024. The Listing date for Avi Ansh Textile IPO is on September 27, 2024. The price band for IPO is ₹62 per share and lot size of 2000 Shares.
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | September 27, 2024 |
| Price | ₹62 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹26.00 Cr |
| Face Value | ₹10 per share |
Avi Ansh Textile IPO Tentative Timetable
Avi Ansh Textile opening date is September 20, 2024 and close date is September 24, 2024. The IPO allotment date is September 25, 2024. Therefund initiation of IPO is on September 26, 2024. The credit of shares in demat account is on September 26, 2024. The listing date is on September 27, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 20, 2024 |
| IPO Closing | September 24, 2024 |
| IPO Allotment Date | September 25, 2024 |
| Refund Initiation | September 26, 2024 |
| Shares Credit to Demat | September 26, 2024 |
| Lisiting Date | September 27, 2024 |
Avi Ansh Textile IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹124,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹124,000 |
| Retail(Maximum) | 1 | 2000 | ₹124,000 |
| HNI (Minimum) | 2 | 4000 | ₹248,000 |
Avi Ansh Textile IPO Promoter Holding
| Pre Issue Share Holding | 95.67% |
| Post Issue Share Holding | 66.98% |
Avi Ansh Textile IPO Review
The company is launching its first IPO, offering 4,193,541 equity shares at a price of Rs. 62 each. The goal is to raise Rs. 26 crore. Each share has a face value of Rs. 10.
On the financial performance front, for the last four fiscals, the company has posted a total income/net profit of Rs. 72.64 cr. / Rs. 0.68 cr. (FY21), Rs. 120.17 cr. / Rs. 1.56 cr. (FY22), Rs. 121.50 cr. / Rs. 0.29 cr. (FY23), and Rs. 142.15 cr. / Rs. 3.31 cr. (FY24). While the company reported some growth in its top line, its bottom line marked inconsistency with roller-coaster ride.
For the last three fiscals, it has reported an average EPS of Rs. 2.05, but missing average RoNW data. The issue is priced at a P/BV of 4.32 based on its NAV of Rs. 16.22 as of March 31, 2024, but missing post-IPO NAV data.
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 29.54. Based on FY23 earnings, the P/E stands at 333.33. Thus the issue relatively appears aggressively priced. Super performance in a pre-IPO year raises eyebrows and concern over its sustainability, as the company is operating in a highly competitive and fragmented segment.
The company reported PAT margins of 0.94% (FY21), 1.30% (FY22), 0.24% (FY23), 2.35% (FY24), and RoCE margins of 12.54%, 15.92%, 10.24%, 15.88% for the referred periods, respectively.
According to the offer document, the company has listed Jindal Worldwide, Shanti Spintex, Manomay Tex, and United Polyfab as its peers. Their price-to-earnings (P/E) ratios are 87.8, 9.89, 27.8, and 32.7, respectively, as of September 17, 2024. However, these companies are not directly comparable to each other.
The company makes and sells cotton yarns of different counts. It has shown growth in sales over the reported periods, but its profits have been inconsistent. Based on the strong earnings for FY24, the stock seems to be priced too high. The offer document has several mistakes and lacks important information. Overall, it might be wise to avoid this “High Risk/Low Return” investment.
Avi Ansh Textile IPO Subscription Status (Bidding Details)
Table not foundAvi Ansh Textile IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Avi Ansh Textile IPO FAQs
What is Avi Ansh Textile IPO?
Avi Ansh Textile is issuing 4,193,541 equity shares with a face value of ₹10 each, totaling up to ₹26.00 Cr. The shares are being offered at a price of ₹62 each, with a minimum order quantity of 2000 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Avi Ansh Textile IPO will open?
Avi Ansh Textile will open on September 20, 2024 for QIB, NII, and Retail Investors.
When Avi Ansh Textile IPO will end?
Avi Ansh Textile will end on September 24, 2024.
What is Avi Ansh Textile IPO Size?
Avi Ansh Textile IPO size is ₹26.00 Cr.
What is Avi Ansh Textile IPO Price Band?
Avi Ansh Textile price band is ₹62 per share.
What is Avi Ansh Textile IPO Allotment Date?
Avi Ansh Textile allotment date is September 25, 2024.
What is Avi Ansh Textile IPO Listing Date?
Avi Ansh Textile listing date is September 27, 2024. The IPO is to be listed on BSE and NSE.
How to Apply Avi Ansh Textile IPO through Zerodha?
To apply for the IPO “Avi Ansh Textile” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Avi Ansh Textile IPO through Upstox?
To apply for the IPO “Avi Ansh Textile” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Avi Ansh Textile IPO Allotment Status?
For Avi Ansh Textile IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Avi Ansh Textile IPO GMP?
You can check out here: Avi Ansh Textile IPO GMP. Check all IPO GMP here.