Vaxtex Cotfab Limited - SME IPO

Ahmedabad based VaxtexCotfab Limited was incorporated in 2005. The company is engaged in the Textile business of fabric processing & trading. It processes grey fabrics (dyeing and finishing) for suiting, shirting, and other accessories. The company also works on outsourcing basis for othergarment/fabric companies.

Vartex owns a Processing unit, Packing and Storage unitat Narol IN Gujarat’s Ahmedabad. Installed production capacity of the processing unit is 12,00,000 meters/monthfor processing of different types of fabrics from natural and man-made fibers. It specializes in 100% cotton, Supima& Giza cotton blended fabrics, polyester cottonand polyester viscose.Vartexundertakes corporate orders for finished fabrics from different brands. The company also has a dedicated in-house Quality Control and TestingTeam for testing and quality management.

It also has a dedicated in-house Testing and Quality Control Team which undertakes testing and quality management.

Competitive Strengths :

  1. Strategic location advantage in Ahmedabad, Gujarat
  2. Experienced promoters
  3. Strong technical capabilities for maintaining high product quality
  4. Sound financial track record with revenues showing an increase of 581.84% and 313.99% in 2016-17 and 2017-18.

Company Promoters: Mr Khushant Gupta, Mr Mithleshkumar M Agrawal, Qmin Pharma Private Limited and Miracle Stores Private Limited.

Issue Details

Vaxtex Cotfab Limited - SME IPO
 Issue Open  Dec 27, 2019 - Jan 03, 2020
 Issue Size  1,596,000 Eq Shares of ₹10 (aggregating up to ₹3.83 Cr)
 Face Value  Rs 10 per Equity Share
 Issue Price  Rs 24 per Equity Share
 Market Lot  6000 Shares
 Listing At  NSE SME

Objectives 

 1. To acquire the Machinery- 59.40 lakhs
 2. To meet Working Capital Requirements- 250 lakhs
 3. General corporate purpose- 43.60 lakhs
 4. To Meet the Issue Expenses- 30.04 lakhs

Company Financials

Particulars For the year/period ended (in lakh rupees)
31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 1,018.76 470.00 419.31
Total Revenue 1,846.63 446.06 65.42
Profit After Tax 17.09 1.85 0.78

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