Vaxtex Cotfab Limited IPO Detail

Company Profile

VAXTEX COTFAB LIMITED was incorporated on December 26, 2005 originally incorporated as “Foolproof Vyapaar Private Limited” later on changed to VAXTEX COTFAB LTD. Ahemdabad based company is into business of trading of fabric. They also do job work for their clients where client provides them grey fabric and they process the same for finished fabrics as per requirement with installed capacity of 12 lakh mtrs/month.

Their processing units are located at Narol, Ahmedabad in Gujrat.  Their revenue is 80% from Job work and 20% is from Processing/Manufacturing.

Company also has a dedicated in house testing and Quality control team which undertsakes rigorous testing and quality management with Semi auto and manual testing machines.

Strengths

1. Location advantage of Manufacturing and utility units
2. Availability of Raw Material Locally
3. Strong Technological Capabilities.
4. Cost effective production and easy labour availability.
5. Designs and Creativity

Promoters

The Promoters of the Company are Mr Khushant Gupta, Mr Mithleshkumar M Agrawal, Qmin Pharma Private Limited and Miracle Stores Private Limited.

Financials

Objects of the Issue

• To acquire Machinery – Rs. 59.40 Lakh
• For Working Capital Requirements – Rs. 250 Lakh
• General Corporate Purposes and – Rs. 43.60 Lakh
• To meet Issue expenses – Rs. 30.04 Lakh

IPO Details

IPO Schedule

Recommendation : Avoid