IPO Details

Bidding Dates

10 May '24 - 14 May '24

Minimum Investment

₹1,12,800 / 1 Lot ( 1,000 Shares )

Price Range


Maximum Investment

₹1,12,800 / 1 Lot ( 1,000 Shares )

Retail Discount

To be announced

Issue Size

₹14.47 Cr

Investor category and sub category

Retail Individual Investors  |   Non-Institutional Investors  |   Qualified Institutional Buyers (QIB)   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 10, 2024

IPO Closing Date

May 14, 2024

Basis of Allotment

May 15, 2024

Initiation of Refunds

May 16, 2024

Credit of Shares to Demat

May 16, 2024

IPO Listing Date

May 17, 2024

Cut-off time for UPI mandate confirmation

May 14, 2024

About Piotex Industries Limited

Piotex Industries Limited, founded in 2019, is a prominent player in the textile industry, specialising in contract manufacturing and trading of yarns, fabrics, and cotton bales. The company's operations focus on producing and distributing cotton bales and cotton yarn, primarily in Maharashtra's textile hubs, including Malegaon, Ichalkaranji, and Bhiwandi, with additional distribution to Burhanpur and Ahmedabad.

Piotex Industries has an exclusive distribution partnership with Babasaheb Deshmukh Industries Private Limited for its cotton yarn products.

The company's business model is twofold. Firstly, it trades cotton bales, synthetic fibres, cotton yarns, and fabrics. Secondly, it operates under a contract labour and fabric weaving scheme, supplying yarn to contract workers and weaving mills. These partners weave the fabric at a set price and return the finished product to Piotex Industries, which then sells it to its customers.

As of March 31, 2024, Piotex Industries maintains a workforce of 18 employees, demonstrating its commitment to fostering a lean and efficient operation within the textile industry.

Industry Outlook:

  1. India's textile industry, contributing 2.3% to its GDP and accounting for 12% of exports, leads the world in cotton and jute production. By FY26, exports are expected to reach $65 billion.
  2. The industry employs 45 million people directly and supports 100 million more in associated sectors. India is the world's second-largest manufacturer of personal protective equipment (PPE), with a market projected to reach $92.5 billion by 2025.

Piotex Industries Limited IPO Details

Piotex Industries Limited IPO Date

Piotex Industries IPO is open from May 10, 2024, to May 14, 2024. The IPO will be listed on BSE SME.

Piotex Industries Limited IPO Price Band

Piotex Industries is a fixed price issue IPO. The price is set at ₹94 per share.

Piotex Industries Limited IPO Lot Size

The lot size for Piotex Industries Limited’s IPO is 1,200 shares with a minimum investment of ₹1,12,800.

Piotex Industries Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding the Working Capital Requirement
  2. General Corporate Purpose

Peer Details

There are no listed companies in India or abroad engaged in developing a similar line of product solutions to those of Piotex Industries Limited.

How to Check the Allotment Status of the Piotex Industries Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the Individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Piotex Industries Limited IPO

  • Registered office: F/II Block, Plot No. 16/2, M.I.D.C., Pimpri, Pune Maharashtra- 411018, India.
  • Phone: +91-9156744401
  • E-mail: office@piotex.in

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operations (in ₹ lakh) 11,845.92 8,600.58 8,022.18
Profit After Tax (PAT) (in ₹ lakh) 401.96 392.01 99.90
Cash & Cash Equivalents (in ₹ lakh) 6.14 45.16 21.17
Net Worth (in ₹ lakh) 897.18 440.07 151.32
Debt to Equity Ratio(x) 0.50 0.41 3.49
Return on Equity (%) 44.99% 97.65% 65.11%
Return on Capital Employed (RoCE) (%) 33.20% 59.34% 50.50%
Diluted Earning Per Share (EPS)-in absolute ₹ 8.48 11.67 3.00

Know before investing


  1. Piotex Industries Limited maintains strong relationships with major customers, fostering repeat orders and enhancing customer retention through effective relationship management.

  2. The company ensures total customer satisfaction, achieving this through timely deliveries, easy order processes, and exceptional customer service, appealing to various customer segments.

  3. With over 4 years of proven track record and a management team possessing over a decade of experience, Piotex demonstrates resilience and strategic growth capabilities.

  4. Piotex employs advanced technology for cotton yarn and fabric manufacturing, ensuring cost efficiency and high production standards.


  1. Piotex Industries Limited relies on external vendors for product procurement and lacks its own manufacturing facilities, exposing it to risks from vendor performance and operations.

  2. The company faces intense competition from both Indian and international textile businesses, potentially impacting its revenues, sales, and market share.

  3. Fluctuations in cotton prices and supply disruptions can significantly affect Piotex's operations, financial health, and ability to meet customer demands.

  4. Piotex's business depends on Sole Selling and Job Work Agreements with spinning units; termination of these could negatively impact its operations and growth.

  • How to Apply in IPO
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Piotex Industries Limited IPO FAQs

What is Piotex Industries Ltd's IPO?

Piotex Industries Limited IPO is a fixed-price IPO. The IPO will be open from May 10, 2024, to May 14, 2024.

When will Piotex Industries Ltd's IPO be allotted?

The Basis of Allotment will happen on Wednesday, May 15, 2024.

When will Piotex Industries Ltd's IPO open for subscription?

The IPO subscription window will open on May 10, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,200 shares.

When will Piotex Industries Ltd list on exchanges?

The listing date for Piotex Industries is Friday, May 17, 2024.

What would be the listing gains on the Piotex Industries Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Piotex Industries Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Piotex Industries Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Piotex Industries Ltd using one PAN?

You can submit only one application using your PAN card.