IPO Details
Bidding Dates
09 Sept 24 - 11 Sept 24
Price Range ₹
36 - 0
Total Equity
₹ 20.65Cr
Lot Size
3000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
09 Sept 2024
Offer end
11 Sept 2024
Allotment
12 Sept 2024
Refund initiation
13 Sept 2024
Demat transfer
13 Sept 2024
Listing
16 Sept 2024
Offer start
09 Sept 2024
Offer end
11 Sept 2024
Allotment
12 Sept 2024
Refund initiation
13 Sept 2024
Demat transfer
13 Sept 2024
Listing
16 Sept 2024
About Company
Founded in 2009, Gajanand International Limited, formerly known as Gajanand Cottex Private Limited, specializes in the production of contamination-free and sustainable cotton. The company’s product range includes: - Mech1 cotton: Grown in Madhya Pradesh and Maharashtra, sown during June and July, and harvested between November and January. - Shankar6 cotton: A domestically grown cotton variety, recognized as India’s most exported raw cotton. - DCH 32 cotton: Cultivated in Karnataka, Tamil Nadu, and Madhya Pradesh, this cotton is sown in July and August, with harvesting occurring from December to March. - Khol: Made from high-quality, pure cotton seeds. Key strengths: - An installed production capacity of 37,500 MT per year. - Strategic location advantage with easy access to raw material harvesting and transportation. - Scalability and self-consumption: By expanding operations and diversifying its product line, the company has enhanced its flexibility to meet changing market demands. As of March 31, 2024, Gajanand International employed 22 people.
Year Founded
15-06-2009
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 90.5 | 62.34 |
| Share Capital | 11855424 | 11855424 |
Offer to Public
57,36,000.00 Cr
Project Details
- General Corporate Purposes - 51.624cr
- Issue Expenses - 5cr
- Working Capital Requirement - 149.872cr
Objectives
- To meet out the Working Capital requirements of the Company
- To meet out the General Corporate Purposes
- andTo meet out the Issue Expenses.
Highlights
- Proven track record and strong government support for the textile industry.
- Promoters with extensive industry experience, supported by a skilled management team and motivated workforce.
- Strong customer relationships built on trust and satisfaction.
- Commitment to quality assurance and operational efficiency improvements.
- Strategic focus on expanding geographical reach, enhancing brand strength, and investing in employee training.
Challenges
- The company's business is subject to seasonal volatility, leading to fluctuations in financial performance and results of operations.
- Lack of long-term contracts with suppliers exposes the company to potential raw material shortages, which could disrupt operations.
- High reliance on its top 5 customers, contributing 84.39%, 85%, and 98% of total revenue in FY24, FY23, and FY22, respectively, poses a risk to revenue and profitability if any of these customers are lost.
- Negative cash flows from operating, investing, and financing activities in recent years may hinder future growth and business stability.
- Geographical concentration of its manufacturing operations increases the risk of disruptions and limits diversification benefits.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2021 | 1,942.64 | 41.87 | 223.73 | 223.73 | 1.7079 |
| 2022 | 1,944.36 | 41.87 | 0.99 | 0.99 | 0.0148 |
| 2024 | 3,931.10 | 1,309.96 | 141.06 | 141.06 | 2.1056 |
| 2023 | 1,900.58 | 41.87 | 2.85 | 2.85 | 0.0425 |
