Piotex Industries Makes a Strong Debut with 16% Premium, lists at ₹109!

Piotex Industries debuted on BSE SME at ₹109, marking a 16% rise from the IPO price of ₹94, offering a significant ₹15 per share gain to allottees.
Piotex Industries Makes a Strong Debut with 16% Premium, lists at ₹109!

Piotex Industries made its debut on the BSE SME platform, opening at ₹109 per share, which represented a 16% increase over the IPO price of ₹94, providing allottees with a substantial listing gain of ₹15 per share.

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Piotex Industries Limited’s IPO, open from May 10 to May 14, 2024, and priced at ₹94 per share, saw robust market response, subscribing 107 times. This underscores strong investor faith and optimism in the company’s prospects.

Piotex Industries Limited is a leader in contract manufacturing and trading of yarn, fabric, and cotton bales, focusing on the garment and home furnishing sectors. They excel in producing high-quality cotton yarn through outsourcing, emphasizing rigorous quality control and process innovation to boost productivity, profitability, and customer satisfaction, thus fostering lasting client relationships.

Piotex Industries Limited aims to allocate INR 10.51 crores from IPO proceeds for working capital needs and further balance funds for general corporate purposes, enhancing operational and marketing efforts.

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