IPO Details
Akshar Spintex Ltd.
Revenue Survey No. 102/2, Paiki, Plot No. 2, Village - Haripar,Jamnagar, Gujarat - 361013

Public Issue of 6747000 Equity Shares of Rs. 10.00 each for Cash at a Premium of Rs. 30.00 per share.
Issue Open DateIssue Closing DateApplication MoneyAllotment Money
27/04/201803/05/201840.00 -
Lead Managers Registrar Listed at
PANTOMATH CAPITAL ADVISORS PVT. LTD.
Bigshare Services Pvt Ltd.
Bharat Tin Works Building,
1st Floor, Opp.Vasant Oasis,, Makwana Road,
Mumbai, Maharashtra - 400059
Phone: 62638200 Fax: 62638299
BSE
Object of the issue

The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.

The Offer for Sale

Each of the Selling Shareholders will be entitled to their respective portion of the proceeds from the Offer for Sale. the Company will not receive any proceeds from the Offer for Sale. All expenses in relation to the Offer other than listing fees (which shall be borne by the Company) shall be shared between the Company and the Selling Shareholders in accordance with applicable laws. Each Selling Shareholder shall reimburse the Company for all expenses incurred by the Company in relation to the Offer for Sale on behalf of such Selling Shareholders.

The Fresh Issue

We intend to utilize the Net Proceeds of the Fresh Issue towards the following objects:

1. Funding the working capital requirements of the Company,
2. General corporate purposes.

Promoted by

The Promoters of the Company are Ashok Bhalala, Amit Gadhiya, Harikrishna Chauhan and Rekhaben Chauhan.

1. Mr. Ashok Bhalala : his aged 44 years, is the Promoter, Chairman and Managing Director of the Company. He has been associated with the Company since September 09, 2013 and has been designated as Managing Director w.e.f. January 09, 2018. He has an experience of more than two decades in the Cotton industry and more than one decade in the Investment Casting industry. He is the guiding force behind all the corporate decisions and is responsible for the entire business operations of the Company.

Passport No: H3925219

Driving License: GJ0319950103044

Voters ID: GJ/04/020/099264

DIN: 02003197

2. Mr. Amit Gadhiya : his aged 31 years, is the Promoter and Whole Time Director of the Company. He has been associated with company since incorporation and has been designated as Whole Time Director w.e.f. January 09, 2018. He has completed his Higher Secondary Education from the Gujarat Secondary and Higher Secondary Board. He has an experience of more than one decade in the textile industry. Currently, he looks after Purchase, Sales and Administrative affairs of the Company.

Passport No: Z3904187

Driving License: GJ03/056382/04

Voters ID: RIN2521276

DIN: 06604671

3. Mr. Harikrishna Chauhan : his aged 50 years, is the Promoter and Whole Time Director of the Company. He has been has been associated with Company since January 17, 2017 and was designated as Whole Time Director w.e.f. January 09, 2018. He has completed Certification cthese in Cine Production of Technical Examination Board, Gujarat. He looks after the Human Restheces and Marketing affairs of the company.

Passport No: G9028912

Driving License: GJ03/304020/01

Voters ID: TZX1754753

DIN: 07710106

4. Mrs. Rekhaben Chauhan : her aged 44 years, is the Promoter of the company.

Voters ID:TZX1754480

DIN: 01055985