IPO Details
Bidding Dates
09 Sep '24 - 11 Sep '24
Minimum Investment
₹1,08,000/ 1 Lot (3000 Shares)
Price Range
₹36
Maximum Investment
₹1,08,000/ 1 Lot (3000 Shares)
Retail Discount
To be announced
Issue Size
₹20.65 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Sep 9, 2024
Closing Date
Sep 11, 2024
Basis of Allotment
Sep 12, 2024
Initiation of Refunds
Sep 13, 2024
Listing Date
Sep 16, 2024
About Gajanand International IPO
Gajanand International is set to launch its IPO with a fixed price issue of ₹20.65 crores, consisting entirely of a fresh issue of 57.36 lakh shares. The IPO opens for subscription on September 9, 2024, and will close on September 11, 2024. The price of the Gajanand International IPO is ₹36 per share.
Investors can apply for a minimum lot size of 3,000 shares, which requires a minimum investment of ₹1,08,000 for retail investors. High Net-Worth Individuals (HNI) can invest in 2 lots, amounting to ₹2,16,000.
The allotment of shares is expected to be finalised on September 12, 2024, and the IPO is set to be listed on the NSE SME with a tentative listing date of September 16, 2024. Fast Track Finsec Pvt Ltd is acting as the book-running lead manager, and Skyline Financial Services Private Ltd is the registrar for the issue. Nikunj Stock Brokers will serve as the market maker for Gajanand International IPO.
Industry Outlook:
- The manufacturing industry in India, contributing 16-17% of the GDP pre-pandemic, is expected to grow rapidly. Cotton, a key segment, is crucial to India's agricultural and industrial sectors. India ranks among the top cotton producers globally.
- India, as the 2nd largest food grain producer, recorded 330.5 million MT of production in 2022-23. The agro commodity sector's steady growth offers competitive advantages, supporting Gajanand International Limited's trading operations and boosting profitability in the agro-commodities market.
Gajanand International IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be utilised for the company’s working capital requirements.
- To allocate funds for general corporate purposes.
- The remaining funds will be utilised to cover expenses associated with the IPO.
About Gajanand International Limited
Gajanand International Limited, originally incorporated as Gajanand Cottex Private Limited in June 2009, is an ISO 9001:2015-certified cotton manufacturer based in Gujarat. The company specialises in producing high-quality cotton varieties such as Mech1 and Shankar6. Over the years, it has undergone multiple name changes, with the most recent change to Gajanand International Limited in June 2023.
The company’s modern manufacturing facilities are equipped with advanced machinery for ginning, quality inspection, storage, and packing, ensuring efficient production processes. Gajanand International places a strong emphasis on delivering premium cotton products while maintaining long-term associations with its clients. By focusing on technological advancements, the company aims to enhance productivity and profitability, meeting the growing demands of the cotton industry. With its commitment to quality and innovation, Gajanand International Limited continues to play a significant role in the cotton sector, contributing to both the domestic and global markets.
Peer Details
The following are the listed companies in India engaged in a business similar to Gajanand International Limited:
- Laxmi Cotspin Limited
- Spright Agro Limited
How to Check the Allotment Status of the Gajanand International IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Gajanand International IPO
- Registered office: Survey No. 1257/1266, Jasdan-Atkot Road, Nr.Bypass Circle, Jasdan, Rajkot, Gujarat-360050
- Phone: +91-99094 46110
- E-mail: info@gajanand-int.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 10,865.52 | 7,336.28 | 6,173.93 |
| Profit After Tax (PAT) (in ₹ lakh) | 223.73 | 141.06 | 2.85 |
| Current Ratio (x) | 1.84 | 1.73 | 1.69 |
| Net Worth (in ₹ lakh) | 1,771.36 | 547.62 | 406.57 |
| Total Borrowings (in ₹ lakh) | 1,207.07 | 1,179.48 | 1,465.28 |
| Return on Equity (%) | 19.30 | 29.57 | 0.70 |
| Return on Capital Employed (RoCE) (%) | 29.72 | 31.30 | 13.64 |
| Earnings Per Share (in ₹) | 2.17 | 1.11 | 0.02 |
Know before investing
Strengths
6-
An installed capacity of 37,500 MT annually ensures efficient market demand fulfillment.
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Strategic location near cotton-growing regions reduces costs and delays.
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Regular quality checks ensure consistent delivery of superior cotton products.
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Local suppliers streamline supply chains, enhancing production and delivery efficiency.
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Business scalability and captive consumption increase operational efficiency and growth.
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Growing global demand for cotton presents strong opportunities for expansion.
Risks
6-
Seasonal volatility in cotton availability may cause revenue fluctuations.
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Lack of long-term supplier contracts could disrupt raw material procurement.
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Reliance on first-generation promoters may impact company growth and stability.
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Negative cash flows from operations could affect future growth prospects.
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The omission of agro-commodity trading in MOA may lead to penalties.
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Heavy reliance on the top 5 customers poses a significant revenue risk.
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Gajanand International IPO FAQs
The Gajanand International IPO is a fixed-price issue IPO that will be open from September 9, 2024, to September 11, 2024.
The Basis of Allotment will happen on Thursday, September 12, 2024.
The IPO subscription window will open on September 9, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 3000 shares.
The listing date for Gajanand International is Monday, September 16, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the ‘IPO’ section on the platform.
- Select IPO: Find and select the Gajanand International IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Gajanand International’s financial statements, download the IPO’s RHP document.
