Our Company was incorporated as “Axita Cotton Private Limited” at Ahmedabad on July 16, 2013, under the provisions of the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Consequent upon the conversion of our Company from Private Limited Company to Public Limited Company, the name of our Company was changed to “Axita Cotton Limited” and fresh Certificate of Incorporation consequent upon the conversion from Private Limited Company to Public Limited Company dated October 15, 2018, was issued by the Registrar of Companies, RoC – Ahmedabad.
The promoters of our company are Mr. Nitinbhai Govindbhai Patel, Mr. Kushal Nitinbhai Patel, and Mr. Amitkumar Govindbhai Patel.
Details of our Public issue are as below:
Public Issue of 1752000 Equity Shares of Face Value of ₹ 10 each for cash at a price of ₹ 60 Per Equity Share including a Share Premium of ₹ 50 Per Equity Share (The “Issue Price”) Aggregating to ₹ 1051.20 Lakh (“The issue”), of which 92000 Equity Shares of Face Value of ₹ 10 Each For Cash at a Price of ₹ 60 per Equity Share Including a Share Premium of ₹ 50 Per Equity Share Aggregating to ₹ 55.20 Lakh Reserved for Subscription by Market Maker to the Issue (The “Market Maker Reservation Portion”). The Issue less the Market Maker Reservation Portion i.e. Net Issue of 1660000 Equity Shares of Face Value of ₹ 10 each at a Price of ₹ 60 per Equity Share including a Share Premium of ₹ 50 Per Equity Share Aggregating to ₹ 996.00 Lakh was hereinafter referred to as the “Net Issue”. The Issue and the Net Issue Constituted 26.74% and 25.34% respectively of the Post Issue Paid-Up Equity Share Capital of Our Company
The Face Value of the Equity Shares was ₹ 10 each and The Issue Price was ₹ 60. The Issue Price was 6 Times of the Face Value
The Equity Shares offered through Prospectus dated December 14, 2018, were listed on SME Platform of BSE Limited with effective from January 10, 2019, In terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018, as amended from time to time, our Company had received an in-principle approval letter dated December 11, 2018, from BSE Limited (“BSE”) for using its name in the offer document for listing our shares on the SME Platform of BSE.
