Gajanand International is scheduled to hit the market on September 9, 2024 and close on September 11, 2024. Gajanand International plans to raise around ₹20.65 Cr through an IPO with a sale of up to 5,736,000 equity shares of ₹10 each. The Retail offered 35.03%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Gajanand International Limited, which started in 2009 and was previously called Gajanand Cottex Private Limited, focuses on producing clean and sustainable cotton. The company offers several types of cotton, including Mech1 cotton, which is grown in Madhya Pradesh and Maharashtra and is planted in June/July and harvested from November to January. Shankar6 cotton is the most exported variety in India, while DCH 32 cotton is sown in July-August and harvested between December and March in Karnataka, Tamil Nadu, and Madhya Pradesh. They also produce Khol, made from high-quality cotton seeds.
The company has a production capacity of 37,500 metric tons per year. It benefits from being located near its raw material sources, making transportation easy. Gajanand International Limited is growing its operations and diversifying its products to meet changing market demands. As of March 31, 2024, the company has a workforce of 22 employees.
Gajanand International IPO Details
Gajanand International IPO opens on September 9, 2024, and closes on September 11, 2024. The Listing date for Gajanand International IPO is on September 16, 2024. The price band for IPO is ₹36 per share and lot size of 3000 Shares.
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Issue Size | ₹20.65 Cr |
| Face Value | ₹10 per share |
Gajanand International IPO Tentative Timetable
Gajanand International opening date is September 9, 2024 and close date is September 11, 2024. The IPO allotment date is September 12, 2024. Therefund initiation of IPO is on September 13, 2024. The credit of shares in demat account is on September 13, 2024. The listing date is on September 16, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 9, 2024 |
| IPO Closing | September 11, 2024 |
| IPO Allotment Date | September 12, 2024 |
| Refund Initiation | September 13, 2024 |
| Shares Credit to Demat | September 13, 2024 |
| Lisiting Date | September 16, 2024 |
Gajanand International IPO Lot Size
Lot Size of this IPO is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 3000 | ₹108,000 |
| Retail(Maximum) | 1 | 3000 | ₹108,000 |
| S-HNI (Minimum) | 2 | 6000 | ₹216,000 |
Gajanand International IPO Promoter Holding
| Pre Issue Share Holding | 90.50% |
| Post Issue Share Holding |
Gajanand International IPO Review
The company is launching its first IPO, offering 5,736,000 shares at a face value of Rs. 10 each. The shares will be sold at a fixed price of Rs. 36 each, aiming to raise Rs. 20.65 crore.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 61.76 cr. / Rs. 0.03 cr. (FY22), Rs. 73.42 cr. / Rs. 1.41 cr. (FY23), Rs. 108.75 cr. / Rs. 2.24 cr. (FY24).
For the last three fiscals, it has reported an average EPS of Rs. 1.46, and an average RoNW of 18.35%. The issue is priced at a P/BV of 2.66 based on its NAV of Rs. 13.52 as of March 31, 2024, and at a P/BV of 1.77 based on its post-IPO NAV of Rs. 20.31 per share.
If we attribute FY24 earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 30.25. The issue relatively appears fully priced.
For the reported periods, the company has posted PAT margins of 0.05% (FY22), 1.92% (FY23), 2.06% (FY24), and RoCE margins of 13.64%, 31.30%, 29.72% respectively for the referred periods.
According to the offer document, the company has mentioned Laxmi Cotspin and Spright Agro as its listed competitors. As of September 6, 2024, Laxmi Cotspin's P/E ratio is not available (NA), while Spright Agro's P/E ratio is 130. However, these companies cannot be directly compared to each other.
The company makes and sells different types of cotton. It has shown growth in both its sales and profits for the recent periods. Based on its earnings for FY24, the stock seems to be fully valued. Given the current positive outlook for the company, smart investors might consider investing for the medium to long term.
Gajanand International IPO Subscription Status (Bidding Details)
Table not foundGajanand International 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
Gajanand International IPO FAQs
What is Gajanand International IPO?
Gajanand International is issuing 5,736,000 equity shares with a face value of ₹10 each, totaling up to ₹20.65 Cr. The shares are being offered at a price of ₹36 each, with a minimum order quantity of 3000 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 Gajanand International IPO will open?
Gajanand International will open on September 9, 2024 for QIB, NII, and Retail Investors.
When Gajanand International IPO will end?
Gajanand International will end on September 11, 2024.
What is Gajanand International IPO Size?
Gajanand International IPO size is ₹20.65 Cr.
What is Gajanand International IPO Price Band?
Gajanand International price band is ₹36 per share.
What is Gajanand International IPO Allotment Date?
Gajanand International allotment date is September 12, 2024.
What is Gajanand International IPO Listing Date?
Gajanand International listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
How to Gajanand International IPO through Zerodha?
To apply for the IPO “Gajanand International” 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 Gajanand International IPO through Upstox?
To apply for the IPO “Gajanand International” 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 Gajanand International IPO Allotment Status?
For Gajanand International IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Gajanand International IPO GMP?
You can check out here: Gajanand International IPO GMP. Check all IPO GMP here.