Public Listing

Category: CLOSED IPO

  • Abram Food Limited

    Abram Food IPO: A Deep Dive into a Potential Investment

    Abram Food IPO: Navigating the Investment Landscape

    In the vibrant Indian financial market, Initial Public Offerings (IPOs) always capture significant attention, especially from retail investors seeking new growth opportunities. The latest buzz centers around Abram Food Limited, an SME IPO entering the market. This detailed blog post offers a comprehensive look at the company, its offering, and what potential investors should consider. Let’s delve into the specifics of this fresh issue.

    Introducing Abram Food Limited

    Abram Food Limited, incorporated in 2009, is a key player in the manufacturing and trading of essential food commodities. Their product portfolio spans a wide range including Chana Dal, various types of Flour (Chakki Atta, Maida, Sooji, Multi-grain atta), Besan, Spices, Cattle Feed (khali), and edible oils. The company primarily markets its products under the well-recognized brand name “Kherliwala” across Rajasthan, Delhi/NCR, and Uttar Pradesh, leveraging an extensive network of distributors.

    A notable aspect of Abram Food’s operations is its commitment to quality. They emphasize processing products without artificial preservatives or chemicals, ensuring freshness from procurement to packaging. Their manufacturing facility in Alwar, Rajasthan, is strategically located and spans 3000 sq. meters, equipped with modern machinery for efficient cleaning, drying, grinding, and packaging.

    Key Business Highlights:

    • Manufacturing and trading of diverse food products and cattle feed.
    • Strong regional presence in Rajasthan, Delhi/NCR, and Uttar Pradesh.
    • Products sold under the established “Kherliwala” brand.
    • Focus on quality, freshness, and natural processing.
    • Dedicated manufacturing facility optimizing production.
    • As of November 30, 2024, the company employs 15 individuals.

    Unpacking the Abram Food IPO: Key Details

    The Abram Food IPO is a fixed-price SME issue, entirely comprising a fresh issuance of shares. Here’s a quick overview of the offering:

    DetailSpecification
    IPO TypeSME Fixed Price IPO
    Issue Price₹98 per share
    Face Value₹10 per share
    Total Issue Size14,28,000 shares (aggregating up to ₹13.99 Crores)
    Issue TypeFresh Issue
    Listing AtBSE SME

    Your IPO Journey: Key Dates to Remember

    Keeping track of important dates is crucial for any IPO application. Mark your calendars for the Abram Food IPO timeline:

    IPO Open June 24, 2025
    IPO Close June 26, 2025
    Allotment Finalization June 27, 2025
    Tentative Listing July 1, 2025

    Please note that the listing date is tentative and subject to change.

    Understanding Your Investment: Lot Size Breakdown

    For SME IPOs, investments are made in fixed lot sizes. Here’s what you need to know about the minimum and maximum investments for the Abram Food IPO:

    Application TypeLots (Minimum)Shares (Minimum)Amount (Minimum)
    Retail Investor (Min/Max)11,200₹1,17,600
    High Net-worth Individual (Min)22,400₹2,35,200

    How Shares are Allocated: Investor Categories

    The total shares offered in the Abram Food IPO are distributed among different investor categories as follows:

    Investor CategoryShares OfferedPercentage (%)
    Market Maker72,0005.04%
    Non-Institutional Investors (NII/HNI)6,78,00047.48%
    Retail Individual Investors (RII)6,78,00047.48%
    Total Shares Offered14,28,000100.00%

    It’s important to note the significant allocation to NII and RII categories, a common structure in SME IPOs, with no QIB allocation for this specific issue.

    Decoding the Numbers: Financial Health

    Abram Food Limited has demonstrated robust financial growth in recent periods. Examining their financials offers insights into the company’s operational strength:

    Period Ended (March 31)Assets (₹ Crore)Revenue (₹ Crore)Profit After Tax (₹ Crore)EBITDA (₹ Crore)Net Worth (₹ Crore)Total Borrowing (₹ Crore)
    202517.0964.093.265.078.437.13
    202410.6236.141.021.964.156.01
    20237.7333.160.481.033.134.39

    The company showcased a remarkable 77% increase in revenue and a substantial 220% jump in profit after tax between FY2024 and FY2025, indicating strong operational performance and profitability.

    Performance at a Glance: Key Financial Metrics

    Understanding the Key Performance Indicators (KPIs) provides a deeper perspective on the company’s efficiency and financial stability. As of March 31, 2025, Abram Food Limited’s market capitalization stands at ₹50.51 Crores.

    KPIValue
    Return on Equity (ROE)38.62%
    Return on Capital Employed (ROCE)56.02%
    Debt/Equity Ratio0.85
    Return on Net Worth (RoNW)38.62%
    PAT Margin5.08%
    EBITDA Margin7.92%
    Price to Book Value4.33

    These metrics reflect a healthy financial position and efficient use of capital, although investors should always consider them in context of the industry and peer performance.

    Leadership Stake: Promoter Ownership

    The promoters of Abram Food Limited are Mr. Brij Bhushan, Ms. Mona Singhal, and Mr. Arpit Gupta. Their stake in the company, both before and after the IPO, is a key indicator of their confidence:

    Holding StagePercentage (%)
    Pre-Issue Shareholding93.14%
    Post-Issue Shareholding67.33%

    The dilution of promoter holding is a standard part of the IPO process, reflecting new equity infusion into the company.

    What the IPO Funds: Company Objectives

    Abram Food Limited intends to utilize the net proceeds from this IPO for several strategic purposes, aimed at bolstering its growth and operational efficiency:

    • Capital Expenditure: A significant portion (₹3.85 Crores) is earmarked for the purchase of new machinery, indicating plans for expansion or modernization of manufacturing capabilities.
    • Working Capital Requirements: ₹6.70 Crores will be used to fund the company’s working capital needs, ensuring smooth day-to-day operations and facilitating growth.
    • General Corporate Purposes: ₹2.05 Crores are allocated for general corporate needs, providing flexibility for various strategic initiatives.
    • Issue Related Expenses: ₹1.40 Crores will cover the costs associated with the IPO process itself.

    Strategic Analysis: SWOT for Abram Food IPO

    A balanced perspective involves evaluating the company’s internal strengths and weaknesses, alongside external opportunities and threats. This SWOT analysis provides a framework for understanding Abram Food Limited’s position:

    Strengths:

    • Robust Financial Growth: Significant increase in revenue and profit after tax in recent periods demonstrates strong operational performance.
    • Established Brand & Network: “Kherliwala” brand recognition and an extensive distribution network in key northern Indian states.
    • Quality Focus: Emphasis on processing products without artificial preservatives, appealing to health-conscious consumers.
    • Strategic Location: Manufacturing facility in Alwar, Rajasthan, provides logistical advantages for target markets.
    • Experienced Leadership: Presence of an experienced and professional senior management team.

    Weaknesses:

    • Highly Competitive Market: Operates in a fragmented and competitive food processing sector, facing challenges from both organized and unorganized players.
    • SME IPO Nature: As an SME listing, it might experience lower liquidity compared to mainboard IPOs, potentially leading to a longer period for stock price stabilization and migration.
    • Sustainability of Growth: The rapid growth observed raises questions about its sustainability in the long term within a competitive environment, requiring continuous innovation and market adaptation.
    • Regional Concentration: Primary market presence is concentrated in Rajasthan, Delhi/NCR, and Uttar Pradesh, potentially limiting broader national reach.

    Opportunities:

    • Growing Demand for Packaged Food: Increasing urbanization and changing lifestyles drive demand for convenient, packaged food products in India.
    • Expansion into New Markets/Products: Potential to expand product lines or penetrate new geographical regions beyond its current stronghold.
    • Focus on Health & Hygiene: Growing consumer preference for quality, chemical-free products aligns with the company’s processing philosophy.
    • Digital Transformation: Leveraging e-commerce platforms and digital marketing to reach a wider customer base and enhance brand visibility.

    Threats:

    • Raw Material Price Volatility: Dependence on agricultural commodities makes the company vulnerable to fluctuations in raw material prices.
    • Intense Competition: Facing stiff competition from both large, established food companies and numerous local players.
    • Regulatory Changes: Evolving food safety standards and regulations could impact operational costs and compliance requirements.
    • Economic Downturns: Consumer spending on discretionary food items could be affected during economic slowdowns.

    Expert Insights: Is This IPO for You?

    Market analysts often scrutinize SME IPOs closely due to their unique characteristics. A comprehensive review of Abram Food Limited indicates that while the company has shown impressive growth in its financial performance, the sector it operates in is highly competitive and fragmented. The rapid increase in both top and bottom lines warrants careful consideration regarding its long-term sustainability.

    Given the fixed price nature and the sector dynamics, investors should evaluate their risk appetite. For those with a moderate risk tolerance and a medium-term investment horizon, parking funds in this IPO might be considered after thorough due diligence. It’s always advisable to consult with a financial advisor before making any investment decisions.

    Key Supporting Entities for the IPO

    Understanding the key players involved in facilitating the IPO is essential:

    • Lead Manager: Corporate Makers Capital Ltd. is the book-running lead manager, responsible for managing the entire IPO process.
    • Registrar: Kfin Technologies Limited will handle the allotment process and investor services.
    • Market Maker: Giriraj Stock Broking Private Limited will act as the market maker, providing liquidity post-listing.

    Your Questions Answered: IPO FAQs

    Here are some common questions about the Abram Food IPO:

    1. What is the Abram Food IPO?
      It is an SME IPO of 14,28,000 equity shares with a face value of ₹10 each, aggregating up to ₹13.99 Crores. The issue price is ₹98 per share, and the minimum order quantity is 1200 shares.
    2. When does the Abram Food IPO open and close?
      The IPO opens on June 24, 2025, and closes on June 26, 2025.
    3. What is the lot size for Abram Food IPO?
      The minimum lot size is 1200 shares, requiring a minimum investment of ₹1,17,600 for retail investors.
    4. When is the Abram Food IPO allotment expected?
      The basis of allotment is expected to be finalized on Friday, June 27, 2025. Shares are typically credited to demat accounts by Monday, June 30, 2025.
    5. When is the tentative listing date for Abram Food IPO?
      The tentative listing date for Abram Food IPO on BSE SME is Tuesday, July 1, 2025.

    Final Thoughts for Potential Investors

    The Abram Food IPO presents an opportunity for investors to participate in the growth story of a food processing company with a strong regional presence and impressive recent financial performance. While the segment is competitive, the company’s focus on quality products under an established brand name provides a foundation.

    As with any investment, particularly in the SME segment, it’s crucial to consider all aspects: the company’s business model, its financial health, the industry landscape, and the overall market sentiment. Conduct your own research and consider consulting with a financial expert to determine if this IPO aligns with your investment goals and risk tolerance.

  • Globe Civil Projects

    Unlocking Potential: A Deep Dive into the Globe Civil Projects IPO

    Unlocking Potential: A Deep Dive into the Globe Civil Projects IPO

    The Indian market is constantly buzzing with new investment opportunities, and Initial Public Offerings (IPOs) often capture significant attention. Investors keen on participating in the growth story of promising companies frequently look for detailed insights into upcoming offerings. This post aims to provide a comprehensive analysis of the Globe Civil Projects IPO, offering a clear perspective on its business, financial health, and the potential investment landscape.

    Key Dates for Your Calendar

    Understanding the timeline of an IPO is crucial for potential investors. Here’s a visual guide to the important dates for the Globe Civil Projects IPO:

    Open
    Jun 24, 2025
    Close
    Jun 26, 2025
    Allotment
    Jun 27, 2025
    Credit Shares
    Jun 30, 2025
    Listing
    Jul 1, 2025

    Please note that the listing date is tentative and subject to change based on regulatory approvals and market conditions.

    Understanding the Company: Globe Civil Projects Limited

    Established in 2002, Globe Civil Projects Limited stands as an integrated Engineering, Procurement, and Construction (EPC) company based in New Delhi. The company specializes in delivering a wide range of projects, showcasing its expertise across various sectors.

    Key highlights of their operations include:

    • Successfully executed 37 projects across 11 states in India.
    • Current engagement in 12 ongoing projects, five of which are social and commercial initiatives.
    • An impressive order book valued at ₹8,929.45 million as of August 31, 2024, encompassing 14 diverse projects, including:
      • 6 Infrastructure – Social and Commercial projects
      • 3 Infrastructure – Transport and Logistics projects
      • 4 Non-Infrastructure – Housing projects
      • 1 Non-Infrastructure – Commercial Office project
    • A dedicated team of 112 permanent employees as of August 31, 2024, driving their project execution.

    The Public Offering at a Glance

    The Globe Civil Projects IPO is structured as a book-built issue, entirely comprising fresh shares. Here are the essential details of the offering:

    ParticularDetail
    IPO TypeBookbuilding Issue
    Issue Size1,67,60,560 shares (aggregating up to ₹119.00 Crores)
    Face Value₹10 per share
    Issue Price Band₹67 to ₹71 per share
    Minimum Lot Size211 Shares
    Listing ExchangeBSE, NSE
    Sale TypeFresh Capital (Entirely Fresh Issue)

    Investment Lot Sizes and Application Details

    Investors can bid for a minimum of 211 shares and in multiples thereafter. The IPO caters to various investor categories with differing minimum and maximum investment amounts:

    Application CategoryLotsSharesAmount (at Cut-off Price of ₹71)
    Retail (Minimum)1211₹14,981
    Retail (Maximum)132,743₹1,94,753
    S-HNI (Minimum)142,954₹2,09,734
    S-HNI (Maximum)6613,926₹9,88,746
    B-HNI (Minimum)6714,137₹10,03,727

    It is generally suggested for retail investors to consider bidding at the cutoff price to potentially increase their chances of allotment in oversubscribed scenarios.

    Strategic Use of IPO Proceeds

    The company plans to utilize the net proceeds from this IPO for crucial strategic initiatives, aimed at bolstering its operational capabilities and fueling future growth. The key objectives include:

    • Funding working capital requirements of the Company (₹75.00 crores).
    • Capital expenditure towards the purchase of construction equipment and machinery (₹14.26 crores).
    • General corporate purposes, providing flexibility for various business needs.

    Leadership and Shareholding Structure

    The company is promoted by Ved Prakash Khurana, Nipun Khurana, and Vipul Khurana, who have been instrumental in its growth. The shareholding structure before and after the IPO is as follows:

    Holding StatusShareholding Percentage
    Pre-Issue Promoter Holding88.14%
    Post-Issue Promoter Holding63.43%

    The fresh issue will lead to a dilution in the promoters’ stake, which is a common outcome of capital-raising through public offerings.

    Analyzing Company Financials

    A look at the company’s financial performance provides crucial insights into its health and growth trajectory. Below is a snapshot of Globe Civil Projects Limited’s consolidated financial information (amounts in ₹ Crore):

    Period Ended31 Dec 202431 Mar 202431 Mar 202331 Mar 2022
    Assets374.60317.83275.04229.79
    Revenue256.74334.81235.17286.78
    Profit After Tax17.7915.384.855.20
    EBITDA39.3044.6520.8022.91
    Net Worth99.8377.6762.4457.45
    Reserves and Surplus56.8775.1959.9754.98
    Total Borrowing137.97124.4897.0070.76

    The company demonstrated strong recovery in profitability by December 2024, after a dip in FY23. This indicates a positive momentum in its operations.

    Key Performance Indicators (KPIs)

    As of March 31, 2024, the company’s market capitalization stands at ₹424.00 Crore. Here are some key performance indicators:

    KPIValue (as of Mar 31, 2024)
    Return on Equity (ROE)21.95%
    Return on Capital Employed (ROCE)23.07%
    Debt/Equity Ratio1.60
    Return on Net Worth (RoNW)19.80%
    PAT Margin4.59%
    EBITDA Margin13.44%
    Price to Book Value3.92

    From a valuation perspective, the earnings per share and Price-to-Earnings (P/E) ratio are important metrics:

    MetricPre-IPOPost-IPO
    EPS (Rs.)3.583.97
    P/E (x)19.8317.88

    Strategic Outlook: A SWOT Analysis

    To provide a holistic view, here’s a basic SWOT analysis of Globe Civil Projects Limited:

    Strengths

    • Established Presence: Over two decades of experience in the EPC sector since 2002.
    • Geographic Reach: Successful project execution across 11 diverse states in India.
    • Robust Order Book: Significant and diversified project pipeline ensuring future revenue visibility.
    • Diversified Portfolio: Engaged in infrastructure, housing, and commercial projects, reducing sector-specific risks.
    • Consistent Profitability: Demonstrated ability to recover and grow profitability, particularly strong performance in the latest financials.

    Weaknesses

    • Historical Revenue Fluctuation: Experienced a dip in top and bottom lines in FY23, indicating potential susceptibility to market cycles.
    • Debt-to-Equity Ratio: A relatively high debt-to-equity ratio which might indicate higher financial leverage.
    • Project-Based Revenue: Reliance on project awards which can lead to revenue volatility.

    Opportunities

    • Infrastructure Growth: Favorable government policies and continued investment in India’s infrastructure sector.
    • Expansion Potential: Opportunities to explore new geographies and higher-value projects within the EPC domain.
    • Capital Utilization: Strategic use of IPO funds for working capital and equipment can enhance project execution and capacity.

    Threats

    • Intense Competition: Highly competitive landscape in the Indian construction and EPC sector.
    • Economic Slowdown: Macroeconomic downturns could impact project pipeline and execution.
    • Regulatory and Environmental Risks: Potential delays or increased costs due to stringent regulatory and environmental compliance.
    • Input Cost Volatility: Fluctuations in prices of raw materials and labor can impact project margins.

    How to Participate in the IPO

    For investors considering an application in the Globe Civil Projects IPO, the process is streamlined through various online platforms. Most brokerage firms offer integrated services allowing you to apply for IPOs directly from your trading account via UPI or ASBA methods.

    For instance, many popular brokers facilitate online IPO applications directly through their back office or trading platforms. Typically, the process involves logging into your broker’s portal, navigating to the IPO section, selecting the desired IPO, entering your bid details (quantity and price), and then approving the mandate via your UPI application or net banking.

    Company and Registrar Details

    For any queries or further information, here are the contact details:

    Company Contact Information

    Globe Civil Projects Limited
    D-40, Okhla Industrial Area, Phase-I
    Delhi, New Delhi, 110020
    Phone: +91 11 46561560
    Email: cs@globecivilprojects.com

    IPO Registrar

    Kfin Technologies Limited
    Phone: 04067162222, 04079611000
    Email: gcpl.ipo@kfintech.com

    Concluding Thoughts

    The Globe Civil Projects IPO presents an opportunity to invest in an established EPC company with a robust order book and a track record of project execution across diverse Indian states. While the company has navigated a period of mixed financial performance, its recent turnaround and strategic utilization of IPO proceeds for working capital and capital expenditure indicate a forward-looking approach. Potential investors should carefully consider the company’s financials, its industry position, the utilization of funds, and their own investment objectives before making an informed decision. As with any investment, due diligence and understanding the associated risks are paramount.

  • Ellenbarrie Industrial Gases Limited

    Navigating the Ellenbarrie Industrial Gases IPO: A Comprehensive Guide for Investors

    In the bustling landscape of public market offerings, understanding each opportunity is key to making informed investment decisions. As the market anticipates the Ellenbarrie Industrial Gases IPO, a deeper dive into its profile, financials, and future prospects becomes essential. This post aims to provide a clear, detailed analysis to help you evaluate this upcoming offering.

    **Unveiling Ellenbarrie Industrial Gases Limited**

    Established in 1973, Ellenbarrie Industrial Gases Limited (EIGL) has carved a significant niche as a prominent Indian manufacturer and supplier of a diverse range of industrial, medical, and speciality gases. Their extensive product portfolio includes essential gases like oxygen, carbon dioxide, acetylene, nitrogen, helium, hydrogen, argon, and nitrous oxide, alongside offerings such as dry ice and medical equipment.

    **Diverse Offerings and Broad Market Reach**

    • Comprehensive Services: Beyond gas supply, EIGL provides project engineering for designing and installing large-scale air separation units (ASUs) and offers crucial medical gas pipeline solutions for healthcare facilities.
    • Varied Customer Segments: The company caters to a wide spectrum of clients, categorized into bulk (liquefied gases via tankers), package (compressed gases in cylinders), and onsite customers (direct gas supply and maintenance).
    • Extensive Industry Footprint: EIGL’s services are vital to sectors including:
      • Steel manufacturing (supplying to major players).
      • Pharmaceuticals & Chemicals (serving leading laboratories).
      • Healthcare (partnering with renowned medical institutions).
      • Engineering & Infrastructure.
      • Railways, Aviation & Space Research.
      • Petrochemicals and Defence.
    • Operational Scale: In Fiscal 2025, EIGL served 1,829 customers and operates eight manufacturing facilities strategically located across India. The company boasts a significant workforce of 281 permanent and 85 contractual employees.

    **Understanding the Public Offering Structure**

    The Ellenbarrie Industrial Gases IPO is a book-built issue, combining fresh equity shares and an offer for sale by existing shareholders.

    **Core IPO Details**

    DetailDescription
    Face Value₹2 per share
    Issue Price Band₹380 to ₹400 per share
    Total Issue Size2,13,13,130 shares (aggregating up to ₹852.53 Cr)
    Fresh Issue1,00,00,000 shares (₹400.00 Cr)
    Offer for Sale (OFS)1,13,13,130 shares (₹452.53 Cr)
    Listing AtBSE, NSE

    **IPO Reservation Categories**

    The issue has specific allocations for different investor categories:

    • Qualified Institutional Buyers (QIB): Not more than 50% of the Offer
    • Retail Investors: Not less than 35% of the Offer
    • Non-Institutional Investors (NII): Not less than 15% of the Offer

    **The IPO Journey: Key Dates**

    Follow the Ellenbarrie Industrial Gases IPO from opening to listing:

    Open Date:June 24, 2025
    Close Date:June 26, 2025
    Allotment Date:June 27, 2025
    Demat Credit:June 30, 2025
    Listing Date:July 1, 2025

    *All dates are tentative and subject to change by the company/regulators.*

    **Investment Lot Sizes**

    Investors can bid for a minimum of 37 shares and in multiples thereof. The investment amount varies based on investor category:

    Application CategoryMinimum LotsMinimum SharesMinimum AmountMaximum SharesMaximum Amount
    Retail137₹14,800481₹1,92,400
    S-HNI (Small HNI)14518₹2,07,2002,479₹9,91,600
    B-HNI (Big HNI)682,516₹10,06,400––

    **Financial Performance and Valuation Insights**

    A thorough examination of Ellenbarrie Industrial Gases Limited’s financials reveals a company on a growth trajectory.

    **Recent Financial Highlights (Restated)**

    Metric (₹ Crore)March 31, 2025March 31, 2024March 31, 2023
    Assets845.97672.54551.27
    Revenue348.43290.20223.71
    Profit After Tax (PAT)83.2945.2928.14
    EBITDA109.7461.5333.59
    Net Worth333.62250.15203.32
    Total Borrowing245.30176.90101.10

    The company has demonstrated robust financial growth, with revenue increasing by 20% and profit after tax (PAT) surging by 84% between fiscal year 2024 and 2025.

    **Key Performance and Valuation Metrics (as of March 31, 2025)**

    IndicatorValue
    Market Capitalization₹5637.42 Cr
    Return on Equity (ROE)16.88%
    Return on Capital Employed (ROCE)13.71%
    Debt/Equity Ratio0.32
    Return on Net Worth (RoNW)24.97%
    PAT Margin23.90%
    EBITDA Margin35.12%
    Price to Book Value20.93
    Earnings Per Share (Pre IPO)₹6.36
    Price to Earnings (P/E) (Pre IPO)62.88x
    Earnings Per Share (Post IPO)₹5.91
    Price to Earnings (P/E) (Post IPO)67.69x

    *Note: Pre IPO EPS/P/E is based on pre-issue shareholding and latest FY earnings. Post Issue EPS/P/E reflects post-issue shareholding and annualized FY earnings.*

    **Strategic Utilization of IPO Proceeds**

    The funds raised from the IPO are earmarked for key strategic initiatives aimed at strengthening Ellenbarrie Industrial Gases Limited’s financial position and expanding its operational capabilities:

    • Debt Reduction: Approximately ₹210.00 crores will be utilized for repayment or prepayment of certain existing borrowings, enhancing the company’s financial flexibility.
    • Capacity Expansion: A significant portion, around ₹104.50 crores, is allocated for setting up a new Air Separation Unit (ASU) with a capacity of 220 TPD at their Uluberia-II plant. This expansion is crucial for meeting growing demand.
    • General Corporate Needs: The remaining proceeds will be deployed for various general corporate purposes, supporting ongoing business operations and future growth initiatives.

    **Leadership and Key Stakeholders**

    **Company Promoters**

    The company is promoted by Padam Kumar Agarwala and Varun Agarwal, who have steered its growth and strategic direction.

    Shareholding StatusPercentage
    Pre-Issue Promoter Holding96.47%
    Post-Issue Promoter Holding(Value to be calculated post IPO)

    **Key Professionals Facilitating the IPO**

    The IPO process is managed by experienced financial intermediaries:

    • Book Running Lead Managers: Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and JM Financial Limited.
    • IPO Registrar: Kfin Technologies Limited, responsible for managing the application process, allotment, and refunds.

    **Strategic Assessment: A SWOT Analysis**

    To provide a balanced perspective, here’s a concise SWOT analysis for Ellenbarrie Industrial Gases Limited:

    **Strengths**

    • Strong Customer Relationships: Long-term associations with a diversified customer base across critical industries.
    • Robust Financial Growth: Demonstrated significant increase in both revenue and profitability in recent years.
    • Diversified Product & Service Portfolio: Catering to industrial, medical, and specialty gases, along with engineering and medical equipment services.
    • Established Market Presence: Operates multiple facilities nationwide, serving a wide array of key sectors.

    **Weaknesses**

    • Valuation Concerns: The IPO appears aggressively priced based on current financial data, which might limit immediate listing gains.
    • Capital Intensive Business: Manufacturing industrial gases requires significant investment in infrastructure and technology.
    • Dependency on Industrial Cycles: Performance can be influenced by the health of key industries served (steel, chemicals, etc.).

    **Opportunities**

    • Growing Demand: Increasing industrialization and healthcare needs in India drive demand for industrial and medical gases.
    • Expansion Potential: Utilization of IPO funds for new ASU setup indicates plans for capacity and market share growth.
    • Strategic Positioning: As an Indian manufacturer, the company may benefit from domestic policies and ‘Make in India’ initiatives.

    **Threats**

    • Intense Competition: Presence of established domestic and international players in the industrial gases sector.
    • Regulatory Changes: Potential impact from evolving environmental and industrial regulations.
    • Raw Material Price Volatility: Fluctuations in energy costs and other raw materials can affect profitability.
    • Economic Slowdown: A general economic downturn could reduce industrial activity and gas consumption.

    **Important Questions About the IPO**

    Here are answers to some frequently asked questions about the Ellenbarrie Industrial Gases IPO:

    • What is the Ellenbarrie Industrial Gases IPO?
      It is a main-board IPO comprising 2,13,13,130 equity shares with a face value of ₹2 each, aggregating up to ₹852.53 Crores. The price band is ₹380 to ₹400 per share, with a minimum order quantity of 37 shares. The shares are proposed to be listed on BSE and NSE.
    • How can I apply for the Ellenbarrie Industrial Gases IPO?
      You can apply online through your stockbroker’s platform using UPI (Unified Payments Interface) as a payment gateway, or directly through your bank’s net banking portal via ASBA (Applications Supported by Blocked Amount).
    • When does the Ellenbarrie Industrial Gases IPO open and close?
      The IPO opens for subscription on June 24, 2025, and closes on June 26, 2025.
    • What is the lot size for the Ellenbarrie Industrial Gases IPO?
      The minimum lot size for the IPO is 37 shares, requiring a minimum investment of ₹14,800 for retail investors at the upper price band.
    • When is the Ellenbarrie Industrial Gases IPO allotment and listing expected?
      The finalization of the Basis of Allotment is tentatively scheduled for Friday, June 27, 2025. Allotted shares are expected to be credited to your demat account by Monday, June 30, 2025. The tentative listing date is Tuesday, July 1, 2025.

    **Final Thoughts for Potential Investors**

    Ellenbarrie Industrial Gases Limited presents an intriguing investment opportunity, backed by a strong operational history, diverse customer base, and impressive financial growth. The company operates in an essential sector, benefiting from ongoing industrial expansion and healthcare demands. While the valuation appears to be at a premium, its strategic objectives for debt reduction and capacity expansion underscore a clear path for future growth.

    For those considering participation, it’s advisable to conduct your own detailed research, consider the long-term industry outlook, and evaluate the IPO against your personal investment goals and risk tolerance. Consulting a qualified financial advisor can provide tailored insights to aid your decision-making process.

  • Kalpataru Limited

    Decoding the Kalpataru IPO: A Comprehensive Guide for Potential Investors

    Your Journey to Informed Investment Starts Here

    The Indian primary market is buzzing with excitement, and one of the upcoming offerings attracting significant attention is the Kalpataru IPO. As a prominent real estate developer, Kalpataru Limited’s public offering presents a unique opportunity for investors looking to diversify their portfolios. But before you jump in, let’s take a deep dive into what this IPO entails, examining its key aspects, financial health, and future prospects.

    Understanding Kalpataru Limited: A Legacy in Real Estate Development

    Established in 1988, Kalpataru Limited has carved a significant niche in the real estate sector. Based in Mumbai, Maharashtra, the company excels in developing a diverse range of properties including residential, commercial, retail spaces, and integrated townships. Their footprint extends across major Indian cities, including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. As part of the larger Kalpataru Group, which includes entities like Kalpataru Projects International Limited and Shree Shubham Logistics Limited, the company benefits from a diversified business ecosystem. As of March 31, 2024, Kalpataru Limited boasts an impressive portfolio of 40 ongoing projects, in addition to having successfully completed 70 projects, showcasing their extensive experience and operational capacity.

    Unpacking the Kalpataru IPO: Key Details at a Glance

    The Kalpataru IPO is a book-built issue, aiming to raise a substantial amount from the public markets. Here’s a quick overview of its essential components:

    DetailDescription
    Face Value₹10 per share
    Issue Price Band₹387 to ₹414 per share
    Total Issue Size₹1,590.00 Crores (3.84 crore shares)
    Sale TypeEntirely a Fresh Issue
    Listing AtBSE, NSE

    Navigating the IPO Journey: Important Dates to Mark Your Calendar

    Timing is everything in the stock market. Here’s a tentative schedule for the Kalpataru IPO, from application to listing:

    Kalpataru IPO Tentative Schedule

    1
    IPO Open
    Jun 24, 2025
    2
    IPO Close
    Jun 26, 2025
    3
    Allotment Finalized
    Jun 27, 2025
    4
    Refunds & Demat Credit
    Jun 30, 2025
    5
    Tentative Listing
    Jul 1, 2025

    Investment Tiers: Lot Sizes and Application Amounts

    Understanding the minimum and maximum investment limits for different investor categories is crucial. The minimum lot size for the Kalpataru IPO is 36 shares.

    Application CategoryLots (Min/Max)Shares (Min/Max)Amount (Min/Max)
    Retail Investor1 / 1336 / 468₹14,904 / ₹1,93,752
    Small HNI (sNII)14 / 67504 / 2,412₹2,08,656 / ₹9,98,568
    Big HNI (bNII)68 (Min)2,448 (Min)₹10,13,472 (Min)

    It’s generally advisable for retail investors to bid at the cut-off price to maximize their chances of allotment, especially in oversubscribed issues.

    Share Allocation Blueprint: How the Issue is Reserved

    The IPO market allocates shares to different investor categories based on pre-defined percentages. Here’s the reservation breakdown for Kalpataru IPO:

    Investor CategoryShares Offered (Percentage of Net Issue)
    Qualified Institutional Buyers (QIBs)Not less than 75%
    Retail Individual Investors (RIIs)Not more than 10%
    Non-Institutional Investors (NIIs)Not more than 15%

    It’s important to note the specific bidding rules for each category:

    • Retail Individual Investors (RII): Can bid up to ₹2 Lakhs and are allowed to bid at the cut-off price.
    • Small Non-Institutional Investors (sNII): Bids range from ₹2 Lakhs to ₹10 Lakhs. Bidding at cut-off price is generally not allowed for NIIs.
    • Big Non-Institutional Investors (bNII): Bids are above ₹10 Lakhs. Bidding at cut-off price is generally not allowed for NIIs.
    • Employee Category: Employees can bid up to ₹5 Lakhs, and in some cases, may receive a discount if the bidding amount is up to ₹2 lakhs. They can also apply as RII or NII in addition to their employee quota.

    Financial Health Check: Kalpataru’s Performance Snapshot

    Analyzing a company’s financials is paramount for any investor. While Kalpataru Limited has faced some challenges in recent years, their 9-month performance for FY25 shows a positive shift.

    Consolidated Financials (Amount in ₹ Crore)

    Period Ended31 Dec 2024 (9M)31 Mar 2024 (FY)31 Mar 2023 (FY)31 Mar 2022 (FY)
    Assets15,562.3513,879.4312,540.7713,410.57
    Revenue1,699.492,029.943,716.611,248.55
    Profit After Tax (PAT)5.51-116.51-229.43-125.36
    EBITDA101.67-78.01-49.67-35.98
    Net Worth1,579.541,028.231,221.891,429.01
    Total Borrowing11,056.4010,688.319,679.6410,365.97

    Key Performance Indicators (KPIs)

    The market capitalization of Kalpataru IPO is approximately ₹8524.07 Crore. Below are key KPIs as of March 31, 2024, and post-IPO projections:

    KPIValue (as of 31 Mar 2024)Pre-IPO EPS (Rs)Post-IPO EPS (Rs)Pre-IPO P/E (x)Post-IPO P/E (x)
    Return on Net Worth (RoNW)-10.15%-6.960.36-59.521160.05
    EBITDA Margin-4.04%––––
    Price to Book Value5.62––––

    The company has experienced negative Profit After Tax (PAT) and EBITDA in previous full fiscal years, which is a point of consideration. However, the improved performance in the first nine months of FY25 (turning profitable with positive PAT and EBITDA) suggests a potential turnaround, which is critical for future investor confidence.

    The Driving Force: Promoters and Shareholding Structure

    The promoters of Kalpataru Limited are Mofatraj P. Munot and Parag M. Munot, who have been instrumental in the company’s journey. Understanding the promoter holding before and after the IPO provides insights into the dilution of equity:

    • Share Holding Pre-Issue: 100%
    • Share Holding Post-Issue: 81.3%

    The fresh issue will lead to an equity dilution, reducing the promoter’s stake from 100% to 81.3%. This is a standard process in IPOs to bring in public shareholding and raise capital. It’s noteworthy that the company recently issued equity shares worth Rs. 400 crore to promoters at a price of Rs. 517.25 in March 2025, indicating their continued commitment and investment in the company.

    Purpose of the Public Offering: What the Funds Will Achieve

    The fresh issue of shares in the Kalpataru IPO has specific objectives designed to strengthen the company’s financial position and support its growth trajectory. The net proceeds are primarily allocated towards:

    • Repayment/pre-payment of certain borrowings: A significant portion of the funds (₹11,925 Million) will be used to pay off existing debt availed by both the company and its subsidiaries. This move is crucial for improving the company’s balance sheet and reducing its interest burden.
    • General corporate purposes: The remaining funds will be utilized for general corporate needs, providing the company with financial flexibility for various operational and strategic initiatives.

    Reducing debt is a positive sign for investors, as it can lead to improved profitability and financial stability.

    Strategic Outlook: A SWOT Analysis for Kalpataru IPO

    To provide a holistic view, let’s conduct a brief SWOT analysis based on the available information:

    • Strengths:
      • Well-established brand with a long history in real estate development.
      • Extensive project portfolio with 70 completed and 40 ongoing projects across diverse cities.
      • Part of a larger, diversified Kalpataru Group.
      • Recent financial turnaround in the first nine months of FY25, indicating potential for improved performance.
      • Promoter confidence reflected in recent equity infusion.
    • Weaknesses:
      • History of negative Profit After Tax (PAT) in previous fiscal years.
      • High total borrowing, though the IPO aims to address this.
      • Dependence on the cyclical nature of the real estate sector.
    • Opportunities:
      • Booming real estate market in India, driven by urbanization and rising income.
      • Utilizing IPO proceeds to reduce debt can free up capital for future growth and projects.
      • Expansion into new geographies or property types.
      • Leveraging brand reputation for future developments.
    • Threats:
      • Intense competition from other established and emerging real estate developers.
      • Regulatory changes and government policies impacting the real estate sector.
      • Potential economic downturns affecting demand and property prices.
      • Rising interest rates could impact borrowing costs and buyer affordability.

    Applying for the Kalpataru IPO: Your Guide to Participation

    Participating in an IPO has become significantly easier with digital platforms. You can apply for the Kalpataru IPO online using either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) methods.

    • UPI Application: Many popular brokerage platforms allow you to apply for IPOs directly through their portal using your UPI ID for payment. This method is quick and convenient.
    • ASBA Application: If you prefer, you can apply through your bank’s net banking portal using the ASBA facility. This method blocks the application amount in your bank account until allotment, ensuring funds are only debited upon successful share allocation.

    Always ensure your Demat account details are correctly linked to your application.

    Key Facilitators: Lead Managers and Registrar

    Several key entities play crucial roles in ensuring the smooth execution of an IPO:

    • Book Running Lead Managers:
      • ICICI Securities Limited
      • JM Financial Limited
      • Nomura Financial Advisory And Securities (India) Pvt Ltd
      These entities are responsible for managing the entire IPO process, including marketing, pricing, and compliance.
    • Registrar:
      • MUFG Intime India Private Limited ((Link Intime)
      The registrar handles all aspects of share allotment, refunds, and credit of shares to investor Demat accounts. They are the primary point of contact for investor queries related to share allocation.

    Final Word: Is Kalpataru IPO a Good Fit for Your Portfolio?

    The Kalpataru IPO presents a mixed bag of opportunities and considerations. While the company operates in a robust real estate sector and has shown a recent turnaround in its financial performance, its historical losses and significant debt levels warrant careful evaluation. The funds raised through this IPO are strategically aimed at debt reduction, which is a positive signal for future financial health.

    From a market perspective, some analysts suggest that while the issue might appear aggressively priced initially, the long-term prospects, driven by its established market presence and a strong pipeline of projects, could make it an attractive proposition for well-informed investors with a longer investment horizon.

    Ultimately, whether the Kalpataru IPO aligns with your investment goals depends on your risk appetite, investment horizon, and overall portfolio strategy. It is always recommended to conduct your own thorough research and consider consulting a financial advisor before making any investment decisions.

    Make Informed Investment Choices

  • Icon Facilitators Limited

    Navigating the Icon Facilitators IPO: A Comprehensive Guide for Astute Investors

    Navigating the Icon Facilitators IPO: A Comprehensive Guide for Astute Investors

    The Indian primary market continues to buzz with activity, presenting diverse opportunities for investors. Among the latest entrants is Icon Facilitators Limited (IFL), set to launch its Initial Public Offering (IPO) on the SME platform. This deep dive will explore IFL’s business, financial health, IPO specifics, and crucial factors to consider before making an investment decision. Understanding the nuances of an SME IPO is key, given their unique risk-reward profiles.

    Understanding the Issuer: Icon Facilitators Limited

    Established in 2002, Icon Facilitators Limited stands as a prominent player in the facilities management sector, offering a wide array of integrated technical services across India. The company specializes in both soft and hard facilities management services, catering to a diverse clientele primarily in Northern India, with recent strategic expansion into Bengaluru.

    Core Service Offerings:

    • Electrical System Management: Comprehensive management and maintenance of electrical infrastructure.
    • HVAC Operations: Handling heating, ventilation, and air conditioning systems.
    • Water Management Services: Expertise in STP/ETP (Sewage Treatment Plant/Effluent Treatment Plant) and general water management.
    • Fire and Safety Equipment Maintenance: Ensuring compliance and operational readiness of safety systems.
    • Integrated Facilities Management: Includes housekeeping, pest control, and building operations.

    Operational Reach and Strategic Strengths:

    IFL manages 127 sites, solidifying its position in the Northern region. The company’s expansion into South India is led by a dedicated professional to further strengthen its market presence.

    Competitive Advantages:

    • Strong market position in North India with a significant portfolio of premium clients.
    • Diversified client base fostering long-standing relationships.
    • Commitment to quality service delivery.
    • Experienced promoter group complemented by a dedicated management team.
    • Consistent financial performance history, underpinned by a scalable and efficient business framework.

    Decoding the IPO: Key Details at a Glance

    The Icon Facilitators IPO is entirely a fresh issue of equity shares. Here’s a snapshot of the offering:

    ParticularDetail
    IPO TypeSME Book-building Fresh Issue
    Issue Price Band₹85 to ₹91 per share
    Face Value₹10 per share
    Total Issue Size21,00,000 shares (aggregating up to ₹19.11 Crores)
    Listing ExchangeBSE SME
    Minimum Lot Size (Retail)1,200 Shares (₹1,02,000 at lower band, ₹1,09,200 at upper band)
    Minimum Lot Size (HNI)2,400 Shares (₹2,04,000 at lower band, ₹2,18,400 at upper band)
    Market MakerNikunj Stock Brokers Limited (Reserved 1,05,600 shares)

    Investor Reservation Break-up:

    The allocation of shares across different investor categories is designed to ensure broad participation:

    Investor CategoryShares OfferedPercentage (%)
    Market Maker1,05,6005.03%
    Qualified Institutional Buyers (QIB)1,00,8004.80%
    Non-Institutional Investors (NII)9,46,80045.09%
    Retail Individual Investors (RII)9,46,80045.09%
    Total Shares Offered21,00,000100.00%

    Financial Health Check: A Closer Look at Performance

    Analyzing Icon Facilitators Limited’s financial statements provides crucial insights into its operational efficiency and growth trajectory. The company has demonstrated growth in both revenue and profitability in recent years.

    Particulars (₹ Crore)31 March 202531 March 202431 March 2023
    Assets23.9517.6614.93
    Revenue58.0749.8542.96
    Profit After Tax (PAT)4.471.761.92
    EBITDA6.552.893.12
    Net Worth12.695.954.19
    Total Borrowing0.000.000.00

    A notable observation is the significant increase in revenue by 16% and a remarkable 154% rise in Profit After Tax (PAT) between the financial year ending March 31, 2024, and March 31, 2025. While positive, investors typically examine such sharp increases in the pre-IPO year carefully for their sustainability.

    Key Performance Indicators (KPIs) and Valuation:

    The company’s valuation metrics offer a comparative perspective on its attractiveness:

    KPI (As of Mar 31, 2024)Value
    Return on Equity (ROE)35.23%
    Return on Capital Employed (ROCE)37.09%
    Debt/Equity Ratio0.35
    PAT Margin7.70%
    EBITDA Margin11.28%
    Price to Book Value4.05
    Valuation MetricPre-IPOPost-IPO
    Earnings Per Share (EPS)₹7.76₹5.69
    Price/Earnings (P/E) Ratio11.72x16.00x

    The post-IPO P/E ratio is higher due to the dilution of equity shares following the fresh issue. Evaluating these metrics against industry peers is essential for a holistic view.

    Promoters and Ownership Structure

    The leadership of Icon Facilitators Limited is spearheaded by its founders, Mr. Dinesh Makhija and Ms. Pooja Makhija. Their vision has guided the company’s growth and strategic direction.

    Holding StagePromoter Shareholding (%)
    Pre-Issue95.65%
    Post-Issue70.09%

    The dilution in promoter holding post-IPO is a standard process to bring in public shareholding and raise capital.

    Purpose of the Public Offering: What’s the Funding For?

    The net proceeds from the Icon Facilitators IPO are intended for specific strategic objectives that will support the company’s operational needs and future growth initiatives:

    • Working Capital Requirement: A substantial portion of ₹16.00 Crores is allocated to meet the company’s day-to-day operational expenses and maintain liquidity.
    • General Corporate Purpose: The remaining funds will be utilized for various general corporate needs, which may include strategic investments, business expansion, or other corporate exigencies.

    The Path to Listing: Important Dates for Investors

    Understanding the IPO timeline is crucial for prospective investors to plan their applications and track the listing process.

    IPO Open
    June 24, 2025
    IPO Close
    June 26, 2025
    Allotment
    June 27, 2025
    Demat Credit
    June 30, 2025
    Listing Date
    July 1, 2025
    EventTentative Date
    IPO Open DateTuesday, June 24, 2025
    IPO Close DateThursday, June 26, 2025
    Tentative Allotment FinalizationFriday, June 27, 2025
    Initiation of RefundsMonday, June 30, 2025
    Credit of Shares to Demat AccountMonday, June 30, 2025
    Tentative Listing DateTuesday, July 1, 2025

    Strategic Insights: A SWOT Analysis

    A SWOT analysis helps to understand the internal and external factors influencing Icon Facilitators Limited and its IPO prospects.

    Strengths

    • Experienced management with strong industry knowledge.
    • Diversified and premium client base in North India.
    • Integrated service offerings providing comprehensive solutions.
    • Positive financial growth in recent years (revenue & PAT).
    • Scalable business model with recent geographic expansion.

    Weaknesses

    • Sharp PAT increase in the pre-IPO year may raise questions about sustainability.
    • Operating in a highly competitive and fragmented market.
    • Small equity base post-IPO could impact liquidity and future fundraising ease.
    • Potential for over-reliance on a specific region (Northern India) despite expansion efforts.

    Opportunities

    • Growing demand for integrated facilities management services in India.
    • Expansion into new geographies like South India can unlock new markets.
    • Potential for cross-selling and up-selling services to existing clients.
    • Increased corporate outsourcing trends for non-core functions.

    Threats

    • Intense competition from organized and unorganized players.
    • Economic downturns impacting corporate spending on facilities.
    • Ability to retain and attract skilled workforce in a service-oriented industry.
    • Regulatory changes impacting compliance and operational costs.
    • Risk of client concentration or loss of key contracts.

    Navigating the Application Process

    Applying for an IPO in India is streamlined through various digital platforms. Investors can typically apply using the ASBA (Applications Supported by Blocked Amount) facility via their bank’s net banking portal or through UPI-based applications offered by brokerage firms.

    For those who have accounts with popular brokers, the process is straightforward:

    1. Log in to your broker’s back office or trading platform.
    2. Locate the IPO section and find “Icon Facilitators IPO.”
    3. Enter your UPI ID, desired quantity (in multiples of the lot size), and the bid price. It’s often recommended to bid at the cut-off price for higher chances of allotment, especially in oversubscribed issues.
    4. Submit your application.
    5. Approve the mandate on your UPI app (e.g., Google Pay, PhonePe, BHIM) to block the funds.

    Ensure your Demat and trading accounts are active and linked to the correct bank account for a smooth application process.

    Important Contacts for Investors

    For any queries related to the company or the IPO, here are the key contact details:

    Icon Facilitators Limited:

    Address: C-28, 2nd Floor Community Centre, Janakpuri, New Delhi, New Delhi, 110058

    Phone: +91-9625930130

    Email: cs@iconf.in

    Website: iconf.in

    IPO Registrar – Maashitla Securities Private Limited:

    Phone: +91-11-45121795-96

    Email: ipo@maashitla.com

    Website: maashitla.com/allotment-status/public-issues

    The registrar is responsible for IPO allotment, refunds, and transfer of shares.

    Invest Wisely: Research, Understand, and Then Decide!

    Final Thoughts: Evaluating the Investment Opportunity

    The Icon Facilitators IPO presents an opportunity to invest in a growing facilities management company with a strong regional presence and a diversified client base. The company’s recent financial performance shows significant growth, especially in profitability. However, prospective investors should carefully consider the valuation, the competitive landscape of the facilities management sector, and the unique characteristics of SME listings, which can sometimes entail higher risk and lower liquidity compared to mainboard IPOs.

    A thorough evaluation of the company’s future growth prospects, the utilization of IPO proceeds, and broader market conditions is advised. Consulting with a financial advisor can provide tailored insights to align with individual investment goals and risk tolerance.

  • Shri Hare-Krishna Sponge Iron Limited

    Shri Hare-Krishna Sponge Iron IPO: A Detailed Investment Analysis

    Shri Hare-Krishna Sponge Iron IPO: Unveiling an Investment Opportunity

    The Indian primary market continues to buzz with activity, presenting diverse opportunities for investors. Among the latest to capture attention is the SME IPO of Shri Hare-Krishna Sponge Iron Limited. For those considering an investment, a thorough understanding of the company’s business, financial health, and the specifics of the IPO is crucial. Let’s delve into the details to help you make an informed decision.

    Key Details of the Initial Public Offering

    The Shri Hare-Krishna Sponge Iron IPO is structured as a Book Building issue, exclusively comprising a fresh issue of shares.

    ParticularDetail
    Issue TypeBookbuilding IPO, Fresh Capital
    Face Value₹10 per share
    Price Band₹56 to ₹59 per share
    Total Issue Size50,70,000 shares (aggregating up to ₹29.91 Crores)
    Listing AtNSE SME

    IPO Timeline: A Visual Guide

    Understanding the important dates is critical for any IPO participant. Here’s a tentative schedule for the Shri Hare-Krishna Sponge Iron IPO:

    IPO Open Jun 24, 2025
    IPO Close Jun 26, 2025
    Allotment Finalized Jun 27, 2025
    Tentative Listing Jul 1, 2025

    Please note that these dates are tentative and subject to change.

    About Shri Hare-Krishna Sponge Iron Limited

    Established in May 2003, Shri Hare-Krishna Sponge Iron Limited specializes in the manufacturing and sale of Sponge Iron. This essential raw material is vital for steel production in both induction and electric arc furnaces.

    • Operational Hub: The company’s manufacturing facility is strategically located in Siltara – Raipur, Chhattisgarh, spanning 13.45 acres.
    • Production Capacity: It boasts an annual production capacity of 30,000 metric tonnes of Sponge Iron.
    • Quality & Certifications: The manufacturing unit adheres to high standards, holding ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety.
    • Market Presence: The company primarily caters to markets in Maharashtra, Madhya Pradesh, and Chhattisgarh.
    • Workforce: As of April 30, 2025, the company had a dedicated team of 92 full-time employees.

    Core Strengths

    Shri Hare-Krishna Sponge Iron Limited highlights several competitive advantages:

    • Robust in-house manufacturing capabilities providing control over production.
    • Rigorous quality control measures ensuring consistent product quality.
    • Established, long-term relationships with customers.
    • A highly qualified and experienced management team steering the company.

    Financial Performance Overview

    A crucial aspect for any potential investor is the company’s financial health. Here’s a snapshot of Shri Hare-Krishna Sponge Iron Limited’s performance over the past three fiscal years:

    Fiscal Year Ending (March 31)Assets (₹ Crore)Revenue (₹ Crore)Profit After Tax (₹ Crore)EBITDA (₹ Crore)Net Worth (₹ Crore)Total Borrowing (₹ Crore)
    202593.1683.609.2010.7873.5911.39
    202475.7484.9310.1712.1164.397.24
    202358.5895.2510.5313.9754.220.75

    It’s important to note that the company experienced a slight decrease in revenue by 2% and a more significant drop in profit after tax (PAT) by 10% between the fiscal years ending March 31, 2024, and March 31, 2025.

    Key Performance Indicators (KPIs)

    As of March 31, 2025, the company’s market capitalization stands at ₹113.23 Crores. Below are some vital performance indicators:

    KPIValue
    Return on Equity (ROE)13.33%
    Return on Capital Employed (ROCE)14.70%
    Debt/Equity Ratio0.15
    Return on Net Worth (RoNW)12.51%
    PAT Margin11.43%
    EBITDA Margin13.40%
    Price to Book Value1.29
    MetricPre-IPOPost-IPO
    Earnings Per Share (EPS)6.514.79
    Price/Earnings (P/E) Ratio9.0612.31

    Purpose of the IPO Proceeds

    Shri Hare-Krishna Sponge Iron Limited intends to utilize the net proceeds from this IPO for the following key objectives:

    • Capital Expenditure: A significant portion will be allocated to funding the capital expenditure required for setting up a Captive Power Plant at its Siltara – Raipur facility, amounting to approximately ₹230 Million. This initiative aims to address power-related challenges the company has faced.
    • General Corporate Purposes: The remaining funds will be used for various general corporate needs, supporting ongoing operations and future growth initiatives.

    Understanding the Investment Lot Size

    Investors interested in the Shri Hare-Krishna Sponge Iron IPO must bid for a minimum number of shares, which come in specific lot sizes. This applies to both retail investors and High Net-worth Individuals (HNIs).

    Application CategoryMinimum Lot Size (Shares)Minimum Investment Amount (₹)
    Retail (Min)2,0001,12,000 (at lower price band) / 1,18,000 (at upper price band)
    Retail (Max)2,0001,12,000 (at lower price band) / 1,18,000 (at upper price band)
    HNI (Min)2 lots (4,000 shares)2,36,000

    It is generally suggested for investors to bid at the cut-off price to maximize their chances of allotment, especially in case of oversubscription.

    Share Reservation and Promoter Holding

    The total 50,70,000 shares offered in the IPO are distributed among different investor categories:

    Investor CategoryShares OfferedPercentage (%)
    Market Maker2,58,0005.09%
    Qualified Institutional Buyers (QIB)24,02,00047.38%
    Non-Institutional Investors (NII / HNI)7,24,00014.28%
    Retail Individual Investors (RII)16,86,00033.25%
    Total Shares Offered50,70,000100.00%

    Promoter Shareholding

    The promoters of the company include Anita Tradelinks Private Limited, Buxom Trexim Private Limited, Shyam Sunder Parasrampuria, Manoj Parasrampuria, and Manish Parasrampuria. Their shareholding pattern before and after the IPO is as follows:

    Holding StagePercentage of Shares
    Pre-Issue Shareholding100%
    Post-Issue Shareholding73.58%

    Strategic Business Analysis (SWOT)

    A strategic analysis helps in understanding the internal and external factors that could impact the company’s future performance. Here’s a brief SWOT assessment for Shri Hare-Krishna Sponge Iron Limited:

    Strengths:

    • Strong in-house manufacturing capability providing control over production.
    • Adherence to multiple international quality and safety certifications (ISO 9001:2015, 14001:2015, 45001:2018) ensuring product reliability.
    • Established customer relationships in key regional markets, potentially leading to stable demand.
    • Experienced management team, which is crucial for navigating industry challenges.

    Weaknesses:

    • Recent financial performance indicates a decline in both revenue and profit after tax.
    • Past heavy impact due to power shortages and high power costs, highlighting operational vulnerabilities.
    • The IPO appears to be fully valued given the recent de-growth in financials.

    Opportunities:

    • The ongoing setup of a captive power plant is a significant opportunity to mitigate past power cost issues and enhance operational efficiency and cost control.
    • Potential for growth in the sponge iron market driven by increasing steel demand in India.

    Threats:

    • Intense competition within the highly fragmented sponge iron and steel industry.
    • Volatility in raw material prices (e.g., iron ore, coal) can significantly impact profit margins.
    • General economic slowdowns or downturns affecting industrial demand.
    • Execution risks associated with setting up the new captive power plant, including delays and cost overruns.
    • Sustained decline in top and bottom lines could erode investor confidence.

    Investment Outlook: A Balanced Perspective

    Considering the financial trajectory which shows a de-growth in both top and bottom lines, alongside the valuation, some market observers suggest that this offering may be fully priced. While the company’s strategic move to establish a captive power unit aims to address operational challenges like power shortages and high energy costs, the current financial performance might warrant a cautious approach for potential investors. It might be prudent to observe the company’s performance post-listing and the successful commissioning of its captive power plant before making an investment decision.

    How to Participate in IPOs (General Steps)

    If you’re looking to apply for an IPO like Shri Hare-Krishna Sponge Iron, here’s a general guide on the application process:

    • Online Application: Most investors apply online through their brokerage accounts using either the UPI (Unified Payments Interface) mechanism or ASBA (Applications Supported by Blocked Amount) via their bank’s net banking portal.
    • UPI Method: If your broker does not offer banking services, you can often apply via their platform by providing your UPI ID. You will then receive a mandate request on your UPI app (like Google Pay, PhonePe, BHIM) which needs to be approved to block the funds.
    • ASBA Method: For direct bank applications, log in to your bank’s net banking portal, navigate to the IPO section, select the desired IPO, enter your bid details, and submit. The amount will be blocked in your account until allotment.

    Company and Registrar Contact Details

    For further inquiries, here are the contact details for Shri Hare-Krishna Sponge Iron Limited and the IPO registrar:

    Company Contact Information

    DetailInformation
    AddressFlat No 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, Municipal Premises No. 403/1, Dakshindari Road, VIP Road, Sreebhumi, Kolkata, North 24 Parganas district, West Bengal, 700048
    Phone+91-9589116050
    Emailcs@shkraipur.com
    Websiteshkraipur.com

    IPO Registrar Details

    The registrar for this IPO is responsible for share allotment and refund processing.

    DetailInformation
    NameKfin Technologies Limited
    Phone04067162222, 04079611000
    Emailshrihare.ipo@kfintech.com
    Websitekosmic.kfintech.com/ipostatus/

    Concluding Thoughts

    The Shri Hare-Krishna Sponge Iron IPO presents an opportunity to participate in a company within the sponge iron manufacturing sector. While its operational strengths and strategic plans, such as the captive power plant, are notable, the recent financial performance showing a decline in revenue and profitability warrants careful consideration. As with any investment, it’s essential to conduct your own due diligence, assess your risk appetite, and align your decision with your overall investment objectives. Stay informed, stay cautious, and make your choices wisely in the dynamic world of stock markets.

  • AJC Jewel Manufacturers Ltd IPO

    Unlocking the AJC Jewel IPO: Your Comprehensive Investment Guide

    Unlocking the AJC Jewel IPO: Your Comprehensive Investment Guide

    The Initial Public Offering (IPO) market continues to be a dynamic space for investors seeking growth opportunities. With the rise of Small and Medium Enterprises (SMEs) making their debut, it’s crucial to thoroughly understand each offering. One such upcoming opportunity is the AJC Jewel IPO, set to open its doors to the public soon. This post will delve deep into the specifics of this offering, helping you make an informed investment decision.

    Unveiling AJC Jewel: A Glimpse into Their Craft

    AJC Jewel Manufacturers Limited, established in 2018, specializes in the intricate art of jewelry manufacturing. Their diverse product portfolio includes exquisite bracelets, bangles, rings, earrings, necklaces, and anklets designed for men, women, and children alike. From raw bullion to stunning finished pieces, they cater to a wide clientele ranging from dealers and showrooms to corporate clients and small retail shops.

    Operating from a substantial leased manufacturing facility in Malappuram, AJC Jewel employs advanced technology, including 3D printers, casting machines, and polishing equipment, ensuring a seamless and high-quality production process. As of February 2025, their dedicated team comprised 67 skilled personnel, driving their operations forward.

    Distinctive Strengths of the Company:

    • A wide-ranging product catalog with a focus on innovative designs.
    • An experienced team of promoters and management, demonstrating strong execution capabilities.
    • A skilled workforce adept at contemporary jewelry design.
    • Established and enduring relationships with reputable jewelry dealers.
    • An organized manufacturing setup, consolidating operations under one roof for efficiency.

    Key Dates for Your Calendar: AJC Jewel IPO Timeline

    Understanding the timeline is critical for any IPO application. Here’s a quick overview of the important dates for the AJC Jewel IPO:

    Open Date:
    June 23, 2025
    Close Date:
    June 26, 2025
    Allotment:
    June 27, 2025
    Listing:
    July 1, 2025

    Prospective investors should mark these dates carefully to ensure timely application and tracking of allotment status.

    Decoding the Offering: AJC Jewel IPO Specifics

    The AJC Jewel IPO is entirely a fresh issue, aiming to raise capital for specific corporate objectives. Here are the crucial details of the offering:

    DetailInformation
    IPO DateJune 23, 2025 to June 26, 2025
    Face Value₹10 per share
    Issue Price Band₹90 to ₹95 per share
    Minimum Lot Size1,200 Shares
    Total Issue Size15,36,000 shares (aggregating up to ₹14.59 Cr)
    Issue TypeBookbuilding IPO
    Listing AtBSE SME

    Investment Requirements by Investor Category:

    Investor TypeMinimum LotsMinimum SharesMinimum Investment (approx.)
    Retail Individual Investor (RII)1 (suggested 2 for cut-off)1,200 (suggested 2,400)₹1,08,000 (suggested ₹2,28,000)
    High Net Worth Individual (HNI)33,600₹3,42,000

    Note: Bidding at the cut-off price is often suggested for retail investors to navigate potential oversubscription scenarios.

    Understanding the Distribution: IPO Share Allocation

    The shares offered in the AJC Jewel IPO are strategically allocated across different investor categories. This ensures a balanced distribution and participation from various market segments.

    Investor CategoryShares OfferedPercentage (%)
    Market Maker Portion84,0005.19%
    Qualified Institutional Buyers (QIB)7,56,00046.67%
    Anchor Investors4,52,40027.93%
    QIB (Ex. Anchor)3,03,60018.74%
    Non-Institutional Investors (NII / HNI)2,37,60014.67%
    Retail Individual Investors (RII)5,42,40033.48%
    Total Shares Offered16,20,000100.00%

    The Anchor Investor Backing: A Closer Look

    Anchor investors play a crucial role in an IPO, providing a strong foundation and indicating confidence in the offering. AJC Jewel IPO successfully raised a significant amount from its anchor investors.

    • Funds Raised: ₹4.30 crore
    • Anchor Bid Date: June 20, 2025
    • 50% Share Lock-in End Date: July 27, 2025 (30 days post-listing)
    • Remaining Share Lock-in End Date: September 25, 2025 (90 days post-listing)

    Financial Footprint: AJC Jewel’s Performance

    A company’s financial health is a key indicator for potential investors. Here’s a summary of AJC Jewel Manufacturers Limited’s restated financial information for recent periods:

    Period Ended31 Dec 2024 (₹ Cr)31 Mar 2024 (₹ Cr)31 Mar 2023 (₹ Cr)31 Mar 2022 (₹ Cr)
    Assets34.2836.7336.0016.42
    Revenue175.53246.84194.25127.40
    Profit After Tax (PAT)1.853.322.041.26
    Net Worth13.9012.047.125.08
    Reserves and Surplus9.457.604.282.24
    Total Borrowing18.4122.4826.236.61

    The company has shown consistent growth in revenue and profit over the last three fiscal years leading up to March 2024. However, the nine-month period ending December 2024 indicates a noticeable decline in both top-line and bottom-line figures compared to the full previous fiscal year, which investors should consider.

    Assessing Value: Key Performance Indicators & Valuation

    To further understand AJC Jewel’s financial health and its valuation in the market, let’s examine some key performance indicators (KPIs) as of March 31, 2024, and the pre/post-IPO earnings metrics.

    Key Performance IndicatorValue
    Return on Equity (ROE)34.64%
    Return on Capital Employed (ROCE)17.47%
    Debt/Equity Ratio1.87
    Return on Net Worth (RoNW)27.56%
    PAT Margin1.35%
    Price to Book Value3.18

    The company’s market capitalization is approximately ₹56.85 Cr. Here’s how the earnings per share (EPS) and Price-to-Earnings (P/E) ratios look:

    MetricPre-IPOPost-IPO
    EPS (₹)7.464.13
    P/E (x)12.7323.01

    The post-IPO P/E ratio, calculated based on the annualized earnings of December 2024 and post-issue shareholding, appears to be on the higher side. This suggests that the issue might be priced quite optimistically, especially when considering the recent declining trend in financials. Investors should carefully evaluate this valuation in the context of market peers and the company’s growth trajectory.

    The Guiding Hands: Promoters and Their Stake

    The promoters of AJC Jewel Manufacturers Limited are instrumental to its vision and growth. The key promoters include Mr. Ashraf P, Mr. Kunhimohamed P, and Ms. Fathima Jasna Kottekattu.

    Their stake in the company will undergo a change post-IPO due to the fresh issue of shares:

    Holding PeriodShare Holding Percentage
    Pre-Issue76.85%
    Post-Issue56.33%

    Strategic Goals: Objectives Behind the IPO

    The capital raised from the AJC Jewel IPO will be strategically deployed to fuel the company’s growth and strengthen its financial position. The primary objectives are:

    • Capital Expenditure: Funding the acquisition of new equipment to enhance manufacturing capabilities (₹2.63 crores).
    • Debt Management: Repaying or pre-paying existing borrowings to reduce financial leverage (₹8.90 crores).
    • General Corporate Purposes: Utilizing funds for various operational and strategic needs to support overall business growth.

    Navigating the Waters: A Strategic Analysis (SWOT)

    A comprehensive SWOT analysis helps potential investors gain a balanced perspective on the company’s internal capabilities and external environment.

    Strengths:

    • Extensive and diverse product range, demonstrating adaptability to market trends.
    • Strong emphasis on design and innovation, a key differentiator in the jewelry sector.
    • Experienced leadership and a skilled workforce, ensuring operational efficiency and quality.
    • Solid, long-standing relationships with a network of reputed jewelry dealers.
    • Integrated manufacturing setup providing control over the production process.

    Weaknesses:

    • Recent financial data (9 months of FY25) indicates a declining trend in revenue and profitability, raising questions about current performance.
    • The IPO appears to be aggressively priced based on recent earnings, which may limit upside potential for early investors.
    • Operating in a highly competitive and fragmented jewelry market, posing challenges for sustained growth.
    • A relatively small equity base post-IPO might imply a longer path to potential migration to the mainboard exchange.

    Opportunities:

    • Growing demand for well-crafted and diverse gold jewelry in both domestic and international markets.
    • Leveraging technology (e.g., 3D printing) to introduce new designs and reduce production cycles.
    • Potential to expand dealer networks and explore new sales channels like e-commerce.
    • Opportunities for market consolidation given the fragmented nature of the industry.

    Threats:

    • Intense competition from both organized and unorganized players in the jewelry sector.
    • Volatility in raw material prices (gold, precious stones) can significantly impact profit margins.
    • Economic downturns or changes in consumer spending habits can reduce demand for discretionary items like jewelry.
    • Regulatory changes or import/export policies affecting the jewelry trade.

    Essential Contacts for Your Reference

    For any further inquiries or official communications, you can reach out to the company or the IPO registrar:

    AJC Jewel Manufacturers Limited Contact:

    • Address: 38/227-Z, Inkel Greens Edu City, Karathode-Konampara Road, Panakkad Village, Pattarkadavu, Malappuram, Ernad, Malappuram, Kerala, 676519
    • Phone: +91 9567916106
    • Email: investors@ajcjewel.com
    • Website: ajcjewel.com/ab

    IPO Registrar: Bigshare Services Pvt Ltd

    • Phone: +91-22-6263 8200
    • Email: ipo@bigshareonline.com
    • Website: ipo.bigshareonline.com/IPO_Status.html

    Conclusion: Is AJC Jewel IPO the Right Fit for Your Portfolio?

    The AJC Jewel IPO presents an opportunity to invest in a jewelry manufacturing company with a diversified product range and an established operational setup. While the company has demonstrated historical growth and possesses notable competitive strengths, investors must also consider the recent slowdown in financial performance and the aggressive pricing of the issue.

    Investing in an SME IPO like AJC Jewel requires thorough due diligence. It’s advisable to assess your personal investment goals, risk tolerance, and the broader market conditions before making a decision. Keep a close eye on the subscription trends and analyst recommendations as the IPO progresses. Ultimately, a well-informed decision based on comprehensive research is key to navigating the vibrant, yet complex, world of IPOs.