Avi Ansh Textile
Fixed Price issueSMENSE₹25.99 Cr issue
+9.68%
Listing gain over issue price
Issue size
₹25.99 Cr
1 lot at cut-off
₹1,24,000
Lot size
2,000shares
Open
20 Sep 2024
Close
24 Sep 2024
Allotment
25 Sep 2024
Listing
27 Sep 2024
Listing performance
Issue price
₹62
Listed at
₹68
Listing-day close
₹71.15
Latest price
₹98
Close on 23 Oct 2026
Listing gain
+9.68%
Return since issue
+58.06%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Sep 2024 – 24 Sep 2024
- Listing date
- 27 Sep 2024
- Face value
- ₹10 per share
- Issue price
- ₹62 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Listing at
- NSE
- Total issue size
- ₹25.99 Cr
- Market cap at offer price
- ₹86.67 Cr
- Promoter holding
- 95.67% → 66.98% pre-issue → post-issue
- ISIN
- INE0TFB01017
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- 3Dimension Capital Services Ltd.
- Registered office
- 402, 4th Floor, Aggarwal Cyber Plaza-1, Netaji Subhash Place, Pitampura, North West, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 2,12,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹62
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,24,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,48,000 |
| S-HNI (max) | 8 | 16,000 | ₹9,92,000 |
| B-HNI (min) | 9 | 18,000 | ₹11,16,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
₹62 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.39 | 2.37 |
| P/E (×) | 18.29 | 26.16 |
| Market cap | — | ₹86.67 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 20.88%
- ROCE
- 15.88%
- Debt / equity
- 2.82
- PAT margin
- 2.35%
- NAV per share
- ₹16.22
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Avi Ansh Textile
Avi Ansh Textile Limited, originally incorporated as Rajneesh Spinners Private Limited on April 27, 2005, converted to a public limited company in January 2024. The company operates in the yarn sector since 2005, manufacturing and exporting cotton yarn (combed and carded in various counts) under the brand name Pooja Gold, with an annual production capacity of approximately 4,500 MT. The company also operates a knitting division producing a wide range of fabrics in dyed and greige variants with approximately 1,800 metric tons per annum capacity. The company adheres to international quality standards and complies with international norms.
Company Analysis
from RHPAvi Ansh Textile Limited manufactures and exports cotton yarn and fabrics for the textiles and apparel industries.
Avi Ansh Textile Limited, originally incorporated as Rajneesh Spinners Private Limited on April 27, 2005, converted to a public limited company in January 2024. The company operates in the yarn sector since 2005, manufacturing and exporting cotton yarn (combed and carded in various counts) under the brand name Pooja Gold, with an annual production capacity of approximately 4,500 MT. The company also operates a knitting division producing a wide range of fabrics in dyed and greige variants with approximately 1,800 metric tons per annum capacity. The company adheres to international quality standards and complies with international norms.
textilesyarn manufacturingfabric productionapparel
Objects of the Issue
- Funding of Working Capital requirements ₹2011.94 lakhs p.20
- Term loan Repayment ₹394.76 lakhs p.20
- General Corporate Purpose ₹56.29 lakhs p.20
- Repayment of Term Loan 394.76 lakhs p.80
- Funding Working Capital Requirements of the Company 2011.94 lakhs p.83
- General Corporate Purpose 56.29 lakhs p.89
- Funding capex for expansion and modernization of existing manufacturing facilities
Issue Structure
- Total Issue
- ₹2599.99 lakhs (41,93,541 Equity Shares)
- Fresh Issue
- ₹2599.99 lakhs (41,93,541 Equity Shares of face value of ₹10 each)
- Offer for Sale
- NIL
- Price Band
- ₹62/- per Equity Share (Fixed Price)
- Lot Size
- 2000 Equity Shares and in multiples of 2000 Equity Shares thereafter
- Face Value
- ₹10/- per Equity Share
Business Model
The company manufactures and exports cotton yarn and fabrics. Revenue is generated through sales of cotton yarn products and knitted fabrics to customers.
Business Segments
Manufactures cotton yarn including combed and carded cotton yarn in various counts
Produces a wide range of fabrics in dyed and greige variants
Manufactures 100% carded cotton, 100% combed cotton, and slub yarn in various counts (20s to 40s). The spinning unit produces high-quality cotton yarns for supply to dealers and knitting mills domestically and internationally.
Manufactures knitted fabrics including single jersey, rib knit, interlock, terry, diagonal terry, fleece, pique, dry fit, and other specialized fabrics using circular knitting machines. The knitting division was established in FY 2022-23 and started full production in FY 2023-24.
Sells reusable and non-reusable waste cotton generated during the yarn manufacturing process. Non-reusable waste is collected and compressed for sale in the market.
Production of cotton yarn through spinning operations with installed capacity of 26,314 spindles achieving annual production of 4,500 metric tons
Knitting of fabrics with installed capacity of 20 machines and annual capacity of 1,800 metric tons, achieving vertical integration into the knitting business
Manufacturing of cotton yarn with installed capacity of 26,314 spindles producing approximately 4,500 metric tons annually using raw cotton and other types of yarns procured from domestic market
Converting yarn into greige fabrics using 20 knitting machines with annual capacity of 1,800 metric tons producing various fabric types including Single Jersey, RIB, Interlock, Terry, Fleece, Rice Knit, and Spun Matte. Outsources dyeing and fabric finishing to third parties.
Manufacturing of finished garments from fabrics using 100 sewing units. Established after March 2024.
SWOT Analysis
Strengths
- • Established cotton yarn production with significant capacity(p.20)
- • Diversified product portfolio across spinning and knitting(p.20)
- • Quality standards and international compliance(p.20)
- • Established brand presence in cotton yarn(p.20)
- • Strategic manufacturing location with strong connectivity(p.124)
- • ISO certifications for quality and environmental management(p.113)
- • Diversified product portfolio across yarns and fabrics(p.125)
- • Experienced management team with deep sector expertise(p.125)
- • Vertical integration from spinning to knitting to garmenting(p.125)
- • Modern technology infrastructure with German and European equipment(p.123)
- • Established government support through ATUFS scheme(p.133)
- • National policy framework supports textile sector growth(p.133)
- • Experienced management with 37 years in textile sector(p.155)
- • Vertical integration into knitting and fabric business(p.142)
- • Strong production capacity expansion track record(p.142)
- • Vertical integration from spinning to knitting to garmenting reduces costs and increases margins(p.204)
- • Diversified product portfolio across spinning, knitting, and dyed fabrics with multiple fabric types(p.200)
- • Strong revenue growth with 17% YoY increase driven by knitting division scaling(p.203)
- • Significant profitability improvement with PAT increasing 1052.89% YoY from knitting operations(p.204)
- • Strategic raw material procurement timing captures margin enhancement opportunities(p.205)
Weaknesses
- • Concentration of production facility in single location(p.27)
- • Lack of long-term customer contracts(p.28)
- • High debt-to-equity ratio(p.38)
- • Significant related party transactions and potential conflicts(p.28)
- • Negative cash flow from operations(p.33)
- • Unregistered intellectual property(p.34)
- • High contingent liabilities(p.35)
- • Dependence on single lender for credit facilities(p.37)
- • High debt-to-equity ratio indicating significant financial leverage(p.96)
- • Concentration of revenue in top customer(p.127)
- • Significant dependence on few major raw material suppliers(p.128)
- • High working capital cycle and inventory holding requirements(p.96)
- • Volatile profitability with significant year-on-year swings(p.96)
- • High short-term debt burden relative to long-term debt(p.167)
- • Significant reliance on unsecured related-party loans(p.177)
- • Heavy dependence on bank overdraft and cash credit facilities(p.178)
- • Significant inventory build-up indicating potential demand or working capital concerns(p.182)
- • Limited dividend history and no formal dividend policy(p.164)
- • High dependence on unsecured loans from related parties totaling Rs. 768.52 lakhs without interest or repayment terms(p.199)
- • Significant debt burden with total debt of Rs. 4,481.21 lakhs and debt-to-equity ratio of 2.82x pre-IPO(p.210)
- • Outstanding GST and income tax notices with potential liabilities of Rs. 22.14+ lakhs and disputed ITC claims(p.213)
- • Litigation involving promoters and directors related to business dealings with Shreejee Trading for Rs. 26 lakhs(p.214)
- • Knitting unit only established in 4Q FY2023, creating operational concentration and execution risk(p.200)
Opportunities
- • Strong growth trajectory in Indian textiles and apparel sector(p.20)
- • Large employment base creating sustained demand(p.20)
- • India's significant global market share in textiles(p.20)
- • Long-term production and export targets for Indian textiles(p.20)
- • Entry into new garments manufacturing segment(p.38)
- • Expansion into garmenting sector with higher margins(p.126)
- • Export market penetration with existing presence in multiple countries(p.125)
- • Growing Indian textile industry projected to reach $190 billion by 2025-26(p.110)
- • Increasing demand for cotton yarn and textiles from India's apparel exports(p.111)
- • Government support through production-linked incentives and technology upgradation schemes(p.109)
- • Expansion of manufacturing capacity to meet growing market demand(p.125)
- • Government initiatives to develop Punjab as industrial hub(p.134)
- • New textile policy focus on export performance(p.133)
- • ATUFS support for machinery upgradation(p.133)
- • Potential market expansion through product diversification(p.133)
- • Export market growth opportunity(p.183)
- • Garmenting sector expansion to capture higher value-added margins(p.208)
- • Cotton price volatility allows strategic stockpiling during low-price periods for margin capture(p.205)
- • Export potential expansion as company has active IEC registration and prior export revenue generation(p.206)
- • Dyed fabric margins higher than greige due to value-addition and dyeing vendor partnerships(p.204)
Threats
- • Dependence on third-party transportation providers(p.31)
- • Exposure to power and fuel supply interruptions(p.31)
- • Intense competition in fragmented textile industry(p.32)
- • Rising capacity and pricing pressures from competitors(p.33)
- • Vulnerability to raw material supplier disruptions(p.31)
- • Economic slowdown and regulatory changes impact(p.39)
- • Natural disasters and pandemic disruption risks(p.39)
- • Tax and levies impact on business costs(p.40)
- • Exposure to foreign exchange fluctuations and restrictions(p.40)
- • Cotton price volatility and agricultural seasonality affecting raw material costs(p.84)
- • Competition from major textile exporters in global markets(p.111)
- • Global economic slowdown and reduced demand for textiles(p.105)
- • Exposure to exchange rate fluctuations on export revenues(p.113)
- • Rising power costs impacting operational efficiency(p.123)
- • Industry cyclicality and market demand fluctuations(p.107)
- • Strict environmental regulations and compliance requirements(p.138)
- • Complex labour and employment law compliance obligations(p.136)
- • Input price volatility and raw material cost exposure(p.184)
- • Competition from established textile players and import competition(p.133)
- • Foreign exchange fluctuation risks(p.186)
- • Raw cotton price volatility and international price competition with import duty restrictions impacting competitiveness(p.206)
- • Global demand cyclicality in cotton yarn affecting export-dependent segments (25-35% of production)(p.206)
- • Macroeconomic recessionary pressures in developed economies (USA, EU) reducing global yarn demand(p.206)
- • Government import duty on raw cotton restricts access to cheaper international cotton supplies(p.206)
- • Industry-wide pressure on margins and competitiveness with peer mills experiencing similar impacts(p.206)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Anil Kumar Jain | Promoter | 39.25% | 27.48% |
| Geeta Jain | Promoter | 16.22% | 11.35% |
| A.K. Jain (HUF) | Promoter | 18.33% | 12.83% |
| Ramesh Mittal HUF | Promoter | 2.01% | 1.41% |
| Sanjeev Mittal HUF | Promoter | 1.72% | 1.20% |
| G A Alloys Private Limited | Promoter Group | 6.64% | 4.65% |
| S J Metals Private Limited | Promoter Group | 5.45% | 3.82% |
| Arihant Yarnfab Private Limited | Promoter Group | 3.81% | 2.67% |
| Avi Jain | Promoter | 0.61% | 0.43% |
| S.C. Jain (HUF) | Promoter | 1.63% | 1.14% |
| Akanksha Jain | Promoter | — | — |
| Ansh Jain | Promoter | — | — |
| Anil Kumar Jain | Promoter | 39.25% | 27.48% |
| Geeta Jain | Promoter | 16.22% | 11.35% |
| A K Jain (HUF) | Promoter | 18.33% | 12.83% |
| G A Alloys Private Limited | Promoter Group | 6.64% | 4.65% |
| S J Metals Private Limited | Promoter Group | 5.45% | 3.82% |
| Arihant Yarnfab Private Limited | Promoter Group | 3.81% | 2.67% |
| Avi Jain | Promoter | 0.61% | 0.43% |
| Ramesh Mittal HUF | Promoter | 2.01% | 1.41% |
| Sanjeev Mittal HUF | Promoter | 1.72% | 1.20% |
| S C Jain (HUF) | Promoter | 1.63% | 1.14% |
| Anil Kumar Jain | Promoter | 39.25% | — |
| Geeta Jain | Promoter | 16.22% | — |
| Avi Jain | Promoter | 0.61% | — |
| A.K. Jain (HUF) | Promoter Group | 18.33% | — |
| G.A. Alloys Private Limited | Promoter Group | 6.64% | — |
| S.J. Metals Private Limited | Promoter Group | 5.45% | — |
| Anil Kumar Jain | Promoter | — | — |
| Avi Jain | Promoter | — | — |
Leadership
Anil Kumar Jain · Managing Director
Geeta Jain · Non-Executive Woman Director
Vinay Bansal · Independent Director
B.M. Sharma · Independent Director
Akanksha Jain · CFO
Isha · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Avi Ansh Textile IPO FAQs
What is the lot size of Avi Ansh Textile IPO?
The minimum lot size of Avi Ansh Textile IPO is 2,000 shares. One lot costs ₹1,24,000 at the cut-off price.
When does Avi Ansh Textile IPO open and close?
Avi Ansh Textile IPO opened for subscription on 20 Sep 2024 and closed on 24 Sep 2024.
What is the listing date of Avi Ansh Textile IPO?
Avi Ansh Textile IPO listed on 27 Sep 2024.