AB Cotspin India was incorporated on June 23, 1997 as “Ganga Cottex Private Limited”. The company is primarily engaged in manufacturing of cotton yarn, knitted fabric, cottonseedoil and oilcakes
| Bidding Dates |
|---|
| 30 Dec 2021 - 03 Jan 2022 |
| Subscription |
|---|
| 13.46x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,40,000 | 1 | 1 | 4000 | 2.9 M | ₹33 - ₹35 | 71.98 % | ₹95.2 M - ₹100.9 M | RHP DOC |
AB Cotspin IPO SUBSCRIPTION STATUS
03 Jan '22AB Cotspin IPO overall subscription rate was 13.46 times the total available shares
AB Cotspin IPO retail subscription rate was 17.47 times in the retail segment
AB Cotspin IPO non-institutional investor subscription rate was 9.45 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
30 Dec 2021 (Day 1) | 1.69x | 0.25x | - |
31 Dec 2021 (Day 2) | 4.48x | 1.07x | - |
03 Jan 2022 (Day 3) | 17.47x | 9.45x | - |
AB Cotspin FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| Q1FY22 | 33.2 | 305.0 | 20.8 | 19.2 |
| FY21 | 38.8 | 1,153.6 | -0.1 | -2.0 |
| FY20 | 7.6 | 941.1 | 69.9 | 63.6 |
| FY19 | 13.3 | 1,209.5 | 101.1 | 101.1 |
AB Cotspin IPO SUBSCRIPTION STATUS DETAILS
AB Cotspin had 2.9 M shares on offer
AB Cotspin IPO offer price was in the range ₹33 - ₹35
AB Cotspin IPO minimum Investment was ₹140000
AB Cotspin IPO issue size was ₹ 95.2 M - ₹ 100.9 M
AB Cotspin had a minimum lot size of 4000 Shares per application
AB Cotspin NUMBER OF SHARES ON OFFER
AB Cotspin IPO IMPORTANT DATES
| Issue Open Date | 30 Dec 2021 |
| Issue close Date | 03 Jan 2022 |
| Allotment Date | 06 Jan 2022 |
| Refund Date | 07 Jan 2022 |
| Demat Account Credit Date | 10 Jan 2022 |
| Listing Date | 11 Jan 2022 |
| Listing on Exchange(s) | BSE |
| AB Cotspin Allotment Status | Exchange |
AB Cotspin IPO subscription opened on 30 Dec 2021, and closed on 03 Jan 2022
IPO allotment for AB Cotspin was finalized on Thursday, 06 Jan 2022
IPO listing for AB Cotspin was on BSE on Tuesday, 11 Jan 2022
AB Cotspin IPO LISTING GAINS
| Issue Price (adjusted) | 35.0 |
| Listing Open Price | 38.5 |
| Listing Close Price | 40.4 |
| Listing Gain% | 10.0% |
| Current Gain% | 467.7% |
AB Cotspin Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AB Cotspin India Ltd. | 198.7 | 204.5 | 33.5 | 1.2 | 1.5 | 8.5 | 4.2 | 301.7 | 0.3 | 13 | 27.6 | 5.9 | 27.5 |
| KPR Mill Ltd. | 1076.7 | 36803.1 | 42.5 | 6.7 | 5.5 | 15.2 | 12.7 | 6784.3 | 5 | 866.5 | 6.3 | 25.4 | 6.3 |
| Vardhman Textiles Ltd. | 606.8 | 17563.9 | 20.7 | -43.8 | 1.7 | 7.1 | 5.4 | 10092.5 | -0.3 | 745.2 | -15.6 | 29.3 | -0.5 |
| Welspun Living Ltd. | 164.1 | 15738.7 | 77 | -1.1 | 1.7 | 4.2 | 2 | 9467.9 | -11.5 | 204.4 | -68 | 2.1 | -68 |
| Arvind Ltd. | 560.6 | 15249.2 | 36.8 | 2.2 | 1.6 | 10.2 | 4.7 | 9359.5 | 11.5 | 413.9 | 17.1 | 15.2 | 17.1 |
| Trident Ltd. | 25.2 | 12831.6 | 32.5 | -3.5 | 1.9 | 7.9 | 5 | 6775.2 | -3.9 | 377.1 | 2 | 0.8 | -9.4 |
AB Cotspin INFORMATION ON IPO ISSUE
About AB Cotspin
AB Cotspin India was incorporated on June 23, 1997 as “Ganga Cottex Private Limited”. The company is primarily engaged in manufacturing of cotton yarn, knitted fabric, cottonseedoil and oilcakes
Object of the Issue
1.Funding the working capital requirements of the company; and
2.General corporate purposes
AB Cotspin - PROMOTERS
| Name |
|---|
| Deepak Garg |
| Pooja Garg |
AB Cotspin Book Running Lead Manager
Pantomath Capital Advisors Private Limited
ipo@pantomathgroup.com
AB Cotspin Registrar to the Offer
Link Intime India Private Limited
abcotspin.ipo@linkintime.co.in
AB Cotspin Strengths
Diverse product portfolio with focus on quality
The company has gradually diversified, expanded and evolved its operations from selling cotton bales and seeds to yarn, knitted fabric, seed oil and oil cakes.
Experienced management and dedicated employee base
The company has an experienced management team with expertise in the textiles industry.
Location Advantage
Company is located in Punjab which is considered as one of the hub for cotton textiles in India and enjoys domestic market for knitted fabric and cotton yarn
AB Cotspin Risks
Outstanding litigation
Company is involved in certain litigations viz civil and tax proceedings which are currently pending at various stages.
Non compliance
Company has not complied with certain statutory provisions under various acts. Such non-compliances/lapses may attract penalties.
IPO FAQs
The promoters of the company are Deepak Garg and Pooja Garg.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 33.0 - 35.0.
The IPO application opens on Dec 30, 2021 and closes on Jan 03, 2022.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 140,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Jan 06, 2022.
The refund will be credited to your account on Jan 07, 2022.
The allotted shares will be credited to your demat on Jan 10, 2022.
AB Cotspin India Ltd.’s shares listed on the stock exchanges on Jan 11, 2022.