Media Release
Piotex Industries Limited gets listed on BSE SME Platform
Pune registered Piotex Industries Limited is engaged in contract manufacturing and trading of yarns, fabrics, and cotton bales for various purposes such as apparel and home textiles. The company also manufactures cotton yarn under an outsourcing model (job- work). Trading in cotton bales, synthetic fibres, cotton yarns, and fabrics: The company manufactures and trades in cotton bales and cotton yarn in the textile centres of Maharashtra, namely Malegaon, Ichalkaranji and Bhiwandi. The company also supplies cotton yarn to Burhanpur and Ahmedabad. For its end product, cotton yarn, the company has entered into an exclusive distribution agreement with Babasaheb Deshmukh Industries Private Limited. Contract Labor and Fabric Weaving: Under this arrangement, the company supplies the yarn to the contract workers and the weaving mill who carry out the weaving process at a contractually agreed price and return the finished product. The finished product, i.e., the fabric, is then sold to the customers.
For details on the issue, please visit https://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=3434&type=FPO&idtype=2&status=H&IPONo=6570&startdt=10-05-2024
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