Lagnam Spintex Limited IPO (Lagnam Spintex IPO) Detail

Lagnam Spintex Limited

Lagnam Spintex Limited IPO (Lagnam Spintex IPO) Detail

ABOUT THE COMPANY:

Rajasthan based Lagnam Spintex Limited was incorporated in 2010, Lagnam Spintex Limited is an ISO 9001:2015 certified Company engaged in the business of manufacturing of high quality open end yarn for domestic and export market ranging from count Ne 4 to Ne 20 which is used in DenimTerry TowelsBottom Wears, Home Textiles and Industrial Fabrics etc.

Company’s manufacturing facility is situated at Hamirgarh of Bhilwara District in Rajasthan State and spreads over 10,000 square meters.

Lagnam Spintex Limited has at present an installed capacity of 1,920 rotors for cotton yarn having capacity to produce 16.5 tonnes per day of high quality yarn. The Company has continuously expanded and modernized the facilities in line with the industry trend and the Company plant is equipped with modern and automatic plant and machinery.

The company has been recognized as “One Star Export House” by the Director General of Foreign Trade with a certificate valid from 2017 to 2022. They have also received OEKO Tex certification. They have a dedicated in-house Testing and Quality Control Team which undertakes rigorous testing and quality management. They are one of the few open-end cotton yarn manufacturers globally who have received certification from USTER Technologies AG.

Company is presently exporting cotton yarns to countries like Portugal, Italy, Germany, Belgium, South Africa, Slovenia, Columbia, China, Pakistan, Bangladesh and others.Exports account for 18.90% of the manufacturing sales of the company.

In the past five years, the company’s revenues have increased from INR 49.83 Cr in 2014-15 to INR 8,4.54 Cr in 2017-18 at a CAGR of around 19%. The Net Profit after tax has grown at a CAGR of almost 43% in the last three years.

The company has 79 permanent employees on its payroll.

Competitors of  Lagnam Spintex Limited:

  1. Narmada Spinning Private Ltd
  2. Vippy Spinpro Ltd
  3. Super Spinning Mills Ltd
  4. Vardhman Spinning & General Mills Ltd.
  5. Nahar Spinning Mills Ltd
  6. PBM Polytex Ltd.
  7. Shree Bhagirath Textile Industries Ltd.
  8. Nitin Spinners Ltd
  9. KPR Mills Ltd

Management Team:

The promoters of the Company are

(1)Mr. Dwarka Prasad Mangal,

(2)Mr. Anand Mangal, and

(3)Lagnam Infotech Solutions Private Limited.

The promoters hold in aggregate 90,66,000 equity shares representing 77.69% of the pre-issue paid-up capital of the Company.

(1) Mr. Dwarka Prasad Mangal, aged 69 years is Promoter Director of th Company. Mr. D. P. Mangal takes care of financial and operational aspect of the Company. He is a qualified Chartered Accountant with vast industrial experience which includes more than 35 years in textile industry. He has also served as the top managerial positions in Large Textiles corporate companies such as RSWM Ltd & JCT Limited and was involved in various expansion projects of RSWM Ltd. He plays an important role in our Company and is responsible for its future growth. He also assists the Board in making business strategies, formation of policies, technological up gradation plan and new product development

(2) Mr. Anand Mangal, aged 35 years is the Promoter and Managing Director of the Company. He has been on the Board of Our Company since incorporation. He has completed BSC (Honors) in Business & Management Studies from University of Bradford, UK. He has also worked with ICICI Bank from June-2006 to Mar-2011. During his tenure with ICICI Bank he was dealing with large corporate customers and MNC’s. Since 2011 he is working as Managing Director of the company responsible for production, marketing, purchase and administration of the existing textile facilities.

FINANCIALS OF Lagnam Spintex Limited:

Lagnam Spintex Ltd IPO Financial details [in Rs, Cr]
Financial Year Total Revenue Total Expenses Profit After Tax
FY-2013
FY-2014 42.06 40.30 1.44
FY-2015 49.83 47.96 1.57
FY-2016 56.56 23.38 2.08
FY-2017 75.38 69.87 3.67
FY-2018 84.54 78.81 4.68

 

Lagnam Spintex Ltd IPO Valuation Details:

Lagnam Spintex Ltd IPO Valuation Details
Earnings Per Share [EPS] ₹ 4.15
Price/Earnings [P/E] Ratio 9.68
Return on Net Worth [RoNW] 17.72 %
Net Asset Value [NAV] ₹ 23.42 Per Share

Objectives of the Issue:

The Objects of the Issue are-

1. Part finance the setting up of the additional cotton yarn manufacturing facility (2,200 lakhs)
2. Meet Issue expenses (260 lakhs)

Lagnam Spintex Ltd IPO Details:

Details Info
Issue Opens on 4th September 2018
Issue Closes on:. 7th September 2018
Issue Price Rs.41
Face Value Rs.10
Minimum Lot 3000
Minimum Investment Rs.1,23,000
Issue Constitutes 33.96%
Issue Size Rs.24.60 cr
Market Cap Rs.73.67 cr
Listing at NSE SME
Equity Shares Offered (Fresh) 60,00,000
Equity Shares Prior to the Issue 1,16,69,000
Equity Shares after the Issue 1,76,69,000

 

Check IPO Allotment Status:click below

Bigshare Website

Lagnam Spintex Ltd  Contact Details:

LAGNAM SPINTEX LIMITED
A-51-53, RIICO Growth Centre Hamirgarh
Bhilwara, Rajasthan, India, 311001
Tel: +91 014 82 289210
Email: rparashar@lagnam.com
Website: www.lagnamspintex.com

IPO Registrar Info:

BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp.
Vasant Oasis, Makw ana Road, Marol,
Andheri East, Mumbai -400059, Maharashtra
Tel: +91 -22- 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Lagnam Spintex IPO Lead Manager(s):

BOI Merchant Bankers Ltd
Star House-II, First Floor,
Plot No. C-4, G-Block, Bandra-Kurla Complex,
Bandra (E), Mumbai – 400 051.

Website:  http://boimb.com/
Email:  info@boimb.com
Phone: 022-6131 2906

Holani Consultants Private limited
B-15/16, Shiv Marg,
Bani Park, Jaipur,
Rajasthan-302016

Website:  http://www.holaniconsultants.co.in
Email:  ipo@holaniconsultants.co.in
Phone: +91 0141-2203995
Fax: +91 0141-2201259

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