Public Listing

Category: LISTED IPO

  • Shayona Engineering

    Shayona Engineering IPO: An In-Depth Analysis for Investors

    Decoding the Shayona Engineering SME IPO: A Deep Dive

    The Indian capital market continues to buzz with opportunities, particularly on the SME platform, which offers growth-focused companies a launchpad for public funding. Shayona Engineering Limited is one such entity tapping into the public domain with its upcoming Initial Public Offering (IPO). For astute investors looking beyond the mainboard, understanding the nuances of an SME IPO is crucial. This comprehensive analysis breaks down every vital aspect of the Shayona Engineering IPO, from its business model to the tentative listing dates, ensuring you have the necessary insights.

    Understanding Shayona Engineering: Core Business & Strengths

    Established in 2017, Shayona Engineering Limited has carved a niche for itself in the manufacturing sector by specializing in comprehensive engineering solutions. They cater to diverse industrial needs, emphasizing precision and customization.

    The company’s primary business activities include:

    • Precision Castings (from grams up to 3 metric tons in a single piece).
    • Machining, Dies, and Moulds manufacturing.
    • Industrial Automation solutions.
    • Heavy Fabrication and Forging services.
    • Turnkey project machinery supply.

    Competitive Edge and Market Positioning

    Sustained growth in engineering often hinges on capability and technology. Shayona Engineering highlights several competitive strengths:

    • **Advanced Technology:** Utilization of cutting-edge equipment across its operations.
    • **Operational Scale:** Demonstrated track record in handling large-scale engineering projects.
    • **Integration:** Offering end-to-end solutions, including prompt after-sales support.
    • **Strategic Sourcing:** Effective management of the supply chain ensures reliable production.

    Shayona Engineering IPO Key Subscription Details

    This is a Bookbuilding IPO structured entirely as a Fresh Issue, meaning all proceeds go directly to the company for its stated objectives.

    MetricDetailValue (₹ Cr.)
    Issue TypeBookbuilding IPO (Fresh Issue)–
    Total Issue Size10,32,000 Shares₹ 14.86 Crores (Approx.)
    Price Band₹140 to ₹144 per Equity Share–
    Face Value₹10 per Share–
    Listing PlatformBSE SME–

    Lot Size and Application Requirements

    Understanding the minimum investment threshold is vital for retail and HNI applicants. The lot size dictates how shares can be applied for in multiples.

    Investor CategoryMinimum LotsShares AppliedMinimum Investment (Upper Price Band)
    Retail Individual Investor (Min)2 Lots2,000₹ 2,88,000
    S-HNI (Small NII)3 Lots3,000₹ 4,32,000

    IPO Timeline: From Bidding to Listing

    The success of an IPO hinges on adherence to its schedule. Here is the tentative timeline for the Shayona Engineering IPO:

    IPO Opens (Jan 22, 2026)
    IPO Closes (Jan 27, 2026)
    Allotment Finalization (Jan 28, 2026)
    Share Credit & Refund Initiation (Jan 29, 2026)
    Tentative Listing (Jan 30, 2026)
    Key EventTentative Date
    IPO Opening DateThursday, Jan 22, 2026
    IPO Closing DateTuesday, Jan 27, 2026
    Allotment DateWednesday, Jan 28, 2026
    Listing Date (BSE SME)Friday, Jan 30, 2026

    IPO Reservation Analysis

    The allocation structure across different investor categories gives an indication of demand prioritization:

    Investor CategoryShares OfferedPercentage Allocation
    Retail Individual Investors (RII)6,68,00064.73%
    Non-Institutional Investors (NII)3,00,00029.07%
    Qualified Institutional Buyers (QIB)12,0001.16%
    Market Maker Reservation52,0005.04%

    Company Financial Health and Valuation Snapshot

    Evaluating the financial statements provides essential context for the IPO valuation. The figures below are restated amounts (in ₹ Crore).

    Financial Performance Trend

    Financial MetricNov 30, 2025 (Interim)Mar 31, 2025Mar 31, 2024Mar 31, 2023
    Total Income19.1523.1815.2812.63
    Profit After Tax (PAT)2.452.421.710.61
    Total Borrowing22.6113.925.423.45

    Key Performance Indicators (KPIs) and Valuation Ratios

    These metrics help gauge efficiency and current pricing relative to earnings and book value.

    KPI/RatioNov 30, 2025Mar 31, 2025
    Return on Capital Employed (ROCE)13.08%29.03%
    Return on Net Worth (RoNW)22.01%34.81%
    PAT Margin12.80%10.44%
    Debt/Equity Ratio1.83N/A
    Valuation Snapshot: Pre-IPO Market Capitalization is noted at approximately ₹56.05 Cr. The Price-to-Earnings (P/E) ratio based on trailing earnings suggests the pricing point. Post-IPO Earnings Per Share (EPS) is projected at ₹9.44, leading to a P/E multiple of 15.25x based on recent performance data.

    Promoter Holding Structure

    The promoters, including Vipul Bhikhabhai Solanki, Kinnariben Vipulbhai Solanki, and Gaurav Ratukumar Parekh, hold a substantial stake, demonstrating confidence in the company’s future prospects.

    • Promoter Holding (Pre-Issue): 87.29%

    IPO Fund Utilization Strategy

    The capital raised through this issue is earmarked for specific strategic growth and stability measures:

    Purpose of Fund UtilizationEstimated Amount (₹ Cr.)
    Purchase of Plant and Machinery3.79
    Repayment of Secured Loans2.17
    Funding Working Capital Requirements4.00
    General Corporate PurposesRemaining Amount

    SWOT Analysis of Shayona Engineering

    A balanced view requires examining both internal capabilities and external market factors.

    Strengths (Internal Positive Factors)

    • Strong technological base for precision engineering tasks.
    • Diversified product portfolio catering to varied industrial needs.
    • High promoter stake indicating strong commitment.

    Weaknesses (Internal Negative Factors)

    • Relatively high Debt-to-Equity ratio as seen in recent financials, indicating leverage.
    • Being an SME listing, it may face liquidity challenges compared to mainboard stocks.

    Opportunities (External Positive Factors)

    • Growing domestic infrastructure and manufacturing sectors boosting demand for precision components.
    • Potential for expansion into new industrial segments based on current capabilities.

    Threats (External Negative Factors)

    • Fluctuations in raw material costs can impact profitability.
    • Intense competition in the specialized engineering component market.

    Key Intermediaries for the IPO

    The seamless execution of the IPO relies on experienced partners:

    • Book Running Lead Manager (BRLM): Horizon Management Pvt.Ltd.
    • Registrar & Share Transfer Agent: Kfin Technologies Ltd. (Contact for allotment/refund queries).
    • Market Maker: Horizon Financial Consultants Pvt.Ltd.
    Registrar Contact Information: For status checks, investors can reach out to Kfin Technologies Ltd. via their contact numbers or through their dedicated allotment status portal.

    Final Considerations for Applicants

    The Shayona Engineering SME IPO presents an opportunity to invest in a specialized manufacturing entity with clear objectives for utilizing IPO proceeds—namely, capacity enhancement and debt reduction. Given its SME listing, investors should assess their risk appetite for relatively smaller, growth-oriented stocks. The subscription dates (January 22 to January 27, 2026) are the crucial window for action. Prospective applicants should base their decision on thorough due diligence, understanding that SME IPOs carry inherent volatility compared to established mainboard offerings.

    Disclaimer: This information is compiled based on publicly available IPO documents for informational purposes only and should not be construed as investment advice. Always conduct your independent research before investing in the capital markets.

  • Shadowfax Technologies

    Shadowfax Technologies IPO: A Deep Dive Before You Invest

    Unpacking the Shadowfax Technologies IPO: Logistics Leader Gears Up for Public Debut

    The Indian logistics sector is buzzing with activity, and the upcoming Initial Public Offering (IPO) of Shadowfax Technologies Ltd. is certainly grabbing the attention of investors. As a leading player in integrated logistics solutions, Shadowfax’s public listing presents an exciting opportunity to understand the future of last-mile and quick commerce delivery in the country. This comprehensive analysis will walk you through all the critical details you need to know before deciding whether to participate in this book-building issue.

    Understanding Shadowfax Technologies: Core Business

    Shadowfax Technologies, established in June 2016, has carved out a significant niche as a dynamic logistics solutions provider across India. Their strength lies in offering a suite of services tailored for the rapid demands of modern commerce.

    • E-commerce & D2C Delivery: Core services supporting online retail growth.
    • Hyperlocal & Quick Commerce: Delivering goods within hours or the same day, catering to instant needs.
    • Flash App Services: Utilizes its proprietary Flash app for SMS and personal courier services.
    • Client Portfolio: Services major platforms including Meesho, Flipkart, Swiggy, Bigbasket, Zepto, Nykaa, and Zomato, positioning them as a versatile end-to-end delivery partner.

    Infrastructure and Scale (As of Q3 FY2025)

    The company’s operational backbone is substantial, showcasing its commitment to scaling effectively:

    • Nationwide logistics network spanning 4,299 touchpoints (first-mile, last-mile centers, and sort centers).
    • Serving an extensive network across 14,758 pin codes.
    • Operational space exceeding 3.50 million sq ft, including 53 sort centers.
    • Asset-light linehaul network supported by a dedicated fleet of over 3,000 trucks daily.
    • Platform boasts 205,864 Average Quarterly Unique Transacting Delivery Partners.

    Shadowfax IPO: Key Subscription Details

    The IPO is structured as a book-building issue, combining a fresh issue component to fuel internal growth and an Offer for Sale (OFS) component for existing shareholders to divest some stake.

    IPO Structure Overview

    ComponentDetails
    Total Issue Size₹1,907.27 Crores
    Issue TypeBookbuilding IPO
    Fresh Issue₹1,000.00 Crores (8.06 crore shares)
    Offer for Sale (OFS)₹907.27 Crores (7.32 crore shares)

    Price Band and Lot Sizes

    The pricing strategy and minimum investment requirements are crucial for retail participation:

    MetricDetails
    Price Band (Per Share)₹118 to ₹124
    Face Value (Per Share)₹10
    Retail Lot Size120 Shares
    Minimum Retail Investment (at upper band)₹14,880
    Small NII Investment (14 lots)₹2,08,320
    Big NII Investment (68 lots)₹10,11,840

    Tentative IPO Timeline: From Bidding to Listing

    The IPO schedule provides a clear roadmap for investors regarding key dates:

    IPO Timetable Snapshot

    MilestoneTentative Date
    IPO Opens (Subscription Start)Tuesday, Jan 20, 2026
    IPO Closes (Subscription End)Thursday, Jan 22, 2026
    Allotment FinalizationFriday, Jan 23, 2026
    Initiation of Refunds/Share CreditTuesday, Jan 27, 2026
    Tentative Listing Date (BSE, NSE)Wednesday, Jan 28, 2026

    Investor Category Allocation

    The allocation structure dictates how shares are divided among different investor groups:

    Investor CategoryReservation Percentage
    Qualified Institutional Buyers (QIB)Not less than 75%
    Non-Institutional Investors (NII)Not more than 15%
    Retail Individual Investors (RII)Not more than 10%

    Financial Health and Valuation Metrics

    Analyzing the company’s financial statements helps gauge its trajectory toward profitability and its valuation in the public market.

    Historical Financial Performance (Amount in ₹ Crore)

    Period EndedTotal IncomeProfit After Tax (PAT)EBITDANet Worth
    30 Sep 20251,819.8021.0464.34693.53
    31 Mar 20252,514.666.0656.19660.43
    31 Mar 20241,896.48-11.8811.37421.78
    31 Mar 20231,422.89-142.64-113.47176.32

    Observation: The company shows a clear trend towards profitability, moving from losses to positive PAT by September 2025, alongside improving EBITDA margins.

    Pre-IPO Valuation Check

    MetricPre-IPO ValuePost-IPO Value
    Market Capitalization₹7,168.85 Cr.N/A
    Earnings Per Share (EPS)₹0.12₹0.73
    P/E Ratio (x)1017.96170.39
    Debt/Equity Ratio (Sep ’25)0.21

    Promoter Holding and Leadership

    • Promoters: Abhishek Bansal and Vaibhav Khandelwal.
    • Pre-Issue Promoter Holding: 19.13%. (Note: This figure needs careful examination against the total IPO size, especially considering the OFS component).

    Strategic Deployment of IPO Proceeds

    The utilization of the fresh issue proceeds highlights the company’s immediate strategic focus areas:

    Objectives of the Issue (Est. Amount in ₹ Crore)

    • Funding capital expenditure for network infrastructure development: ₹423.43 Cr.
    • Funding lease payments for new first-mile, last-mile centers, and sort centers: ₹138.64 Cr.
    • Funding branding, marketing, and communication costs: ₹88.57 Cr.
    • Unidentified inorganic acquisitions and general corporate purposes.

    SWOT Analysis: Positioning Shadowfax for the Future

    A balanced view requires assessing internal strengths and weaknesses against external opportunities and threats.

    Strengths (Internal Advantages)

    • Agile and customizable logistics services offering rapid go-to-market capabilities for clients.
    • Possesses the largest gig-based delivery partner infrastructure for last-mile connectivity.
    • Proprietary and adaptable technology stack underpinning operations.
    • Proven business model with an increasing focus on achieving profitability alongside growth.

    Weaknesses (Internal Constraints)

    • High reliance on leased logistics facilities and an asset-light model in some areas.
    • Significant recent investment required for network expansion, reflected in IPO objectives.
    • Relatively high P/E multiple based on current earnings compared to established industry peers.

    Opportunities (External Potential)

    • Rapid expansion of e-commerce penetration, especially in Tier 2/3 cities.
    • Growing demand for instant delivery/quick commerce across multiple verticals (food, grocery, pharma).
    • Potential for further acquisitions to consolidate market share or enter adjacent logistics segments.

    Threats (External Risks)

    • Intense competition from established giants and well-funded startups in the logistics space.
    • Regulatory changes impacting the gig economy and delivery partner employment structure.
    • Rising operational costs, especially fuel prices, impacting delivery economics.

    Intermediaries in the IPO Process

    The success of an IPO relies on experienced professionals managing the process. Here are the key parties involved:

    Book Running Lead Managers (BRLMs)

    The syndication of the IPO is managed by a strong consortium:

    • ICICI Securities Ltd.
    • Morgan Stanley India Co. Pvt. Ltd.
    • JM Financial Ltd.

    Registrar to the Issue

    Kfin Technologies Ltd. will handle the administrative aspects, including allotment and refunds.

    • Contact Points: Phone numbers are available for customer queries regarding the allotment process.
    • Website: Direct access is provided for checking allotment status online.

    Company Contact Information and Guidance

    For official correspondence or detailed documentation, the following details are provided:

    Official Contact Details

    Address: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bengaluru, Karnataka, 560103.

    • Email: hello@shadowfax.in
    • Website: The official corporate website provides investor relations documents, including the Red Herring Prospectus (RHP).

    Guidance for Application

    Prospective investors should thoroughly review the Red Herring Prospectus (RHP) for exhaustive details on risks, financials, and objectives. Applications can generally be placed via ASBA through net banking or through broker platforms using UPI mandates.

    Final Takeaway: Navigating the Shadowfax Opportunity

    The Shadowfax Technologies IPO offers a chance to invest in a tech-enabled logistics powerhouse that sits at the intersection of e-commerce and quick commerce—two high-growth areas in the Indian economy. The company demonstrates strong operational scale and has recently transitioned into profitability. While the valuation appears premium, the growth potential tied to its proprietary network and extensive client base cannot be ignored. As with any IPO, aligning your investment decision with your personal risk appetite and conducting thorough due diligence on the final allotment price and post-listing market sentiment remains the most prudent approach.

  • Digilogic Systems

    Digilogic Systems IPO Analysis: Everything Retail Investors Need to Know

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    Your Trusted Source for Market Insights

    Decoding the Digilogic Systems IPO: Strategic Entry into Defence Tech

    The Initial Public Offering (IPO) landscape is heating up, and the upcoming SME segment launch from Digilogic Systems Ltd. presents an interesting proposition for investors focused on the burgeoning defence and aerospace technology sectors. Understanding the core business, financial trajectory, and issue specifics is crucial before placing a bid. This comprehensive analysis breaks down all the necessary details for informed decision-making.

    **Unveiling Digilogic Systems: Business Domain & Core Strengths**

    Digilogic Systems Ltd., established in 2011, operates at the critical intersection of engineering and defence technology. The company specializes in providing high-end, specialized solutions for India’s demanding defence and aerospace ecosystem.

    **What Digilogic Systems Does:**

    • Designs, develops, integrates, manufactures, supplies, and supports sophisticated systems.
    • Focus areas include Automated Test Equipment (ATE) systems, radar simulators, and Electronic Warfare simulators.
    • Provides essential application software and embedded signal processing solutions.
    • Limited applications extend into industrial automation, solidifying its niche in critical technology fields.

    **Competitive Advantages Shaping the Future:**

    The company highlights several factors that position it well within its specialized market:

    • Proven experience in delivering complex Defence and Aerospace Systems.
    • Cultivated strong relationships and international collaborations within the industry.
    • Capability to offer end-to-end solutions, managing projects from inception to maintenance.
    • Utilization of reusable engineering platforms for improved efficiency and faster deployment.
    • A leadership team possessing deep technical acumen and specific industry expertise.

    **The Public Offer: Issue Structure and Timeline**

    The Digilogic Systems IPO is structured as a Book Building issue aiming to raise approximately ₹81.01 Crores. This issuance combines both fresh capital infusion and a partial stake sale by existing shareholders.

    **IPO Breakup Details:**

    • Total Issue Size: ₹81.01 Crores, comprising 77,89,196 equity shares.
    • Fresh Issue Component: ₹69.68 Crores (0.67 crore shares) to fund capital expenditure and debt repayment.
    • Offer for Sale (OFS): ₹11.33 Crores (0.11 crore shares) by existing shareholders looking for partial liquidity.
    • Market Maker Reservation: 3,90,000 shares (approx. ₹4 Cr).

    **Key IPO Dates at a Glance (Tentative Schedule):**

    MilestoneTentative Date
    IPO Subscription OpensTuesday, January 20, 2026
    IPO Subscription ClosesThursday, January 22, 2026
    Allotment FinalizationFriday, January 23, 2026
    Initiation of RefundsTuesday, January 27, 2026
    Credit of Shares to DematTuesday, January 27, 2026
    Tentative Listing DateWednesday, January 28, 2026 (on BSE SME)

    Investors should note that the listing is planned exclusively on the BSE SME platform, highlighting the company’s growth stage focus.

    **Valuation and Investment Thresholds**

    Understanding the price band and minimum application requirements is essential for retail participation.

    **Price Band and Lot Size Details:**

    • Face Value: ₹2 per equity share.
    • Price Band: ₹98 to ₹104 per share.
    • Lot Size: 1,200 shares.
    ₹2,49,600 Minimum Investment (1 Lot Retail)
    ₹301.10 Cr Market Cap (Pre-IPO)
    6.91 Price to Book Value (Post-IPO Estimate)

    **Investor Category Allocation & Minimum Bids:**

    Investor CategoryShares Offered (of Net Offer)Minimum Lot Size (Shares)Approx. Minimum Investment (at Upper Price)
    QIB (Qualified Institutional Buyers)Not more than 50%Defined by Lot Size rulesN/A (Min Bids are Lot based)
    Retail Individual Investors (RII)Not less than 35%
    NII (Non-Institutional Investors)Not less than 15%
    Retail investors can bid for a minimum of 2 lots (2,400 shares) based on typical lot structure inference for SME listings.

    For HNI categories (Small HNI/B-HNI), bids start from 3 lots upwards, requiring investments significantly above the retail minimum.

    **Financial Health Snapshot: A Look at Recent Performance**

    Analyzing the restated financial data provides context to the company’s recent growth trajectory and stability leading up to the public listing.

    **Key Financial Indicators (Amount in ₹ Crore):**

    MetricSep 30, 2025 (Interim)Mar 31, 2025Mar 31, 2024Mar 31, 2023
    Total Assets64.5372.5735.5535.49
    Total Income18.2872.1951.7156.12
    Profit After Tax (PAT)1.618.112.402.18
    EBITDA3.3413.405.445.28
    Net Worth35.0733.4613.4811.09
    Total Borrowing22.0413.348.1110.92

    **Operational Efficiency Ratios (KPIs):**

    KPISep 30, 2025Mar 31, 2025
    PAT Margin8.87%11.26%
    EBITDA Margin18.39%18.60%
    ROE (Return on Equity)4.71%34.57%
    Debt/Equity Ratio0.630.40

    The financials indicate significant growth in Net Worth and substantial income generation in the latest reported periods, although profitability margins show some fluctuation, which is common in high-growth engineering projects.

    **Purpose of Proceeds & Promoter Landscape**

    **How IPO Funds Will Be Utilized:**

    The primary objective of this public issue is directed towards expansion and strengthening the balance sheet:

    • Capital Expenditure: Major allocation of ₹51.74 Cr for setting up a Proposed New Facility, indicating future capacity expansion.
    • Debt Management: ₹8.00 Cr earmarked for partial prepayment or repayment of existing borrowings.
    • General Corporate Purposes: Allocation for general operational needs.

    **Ownership Structure:**

    The promoters maintain a significant stake, reflecting confidence in the long-term prospects:

    • Promoter Holding (Pre-Issue): A substantial 88.50%.
    • Key Promoters: The leadership includes Mr. Madhusudhan Varma Jetty, Mrs. Radhika Varma Jetty, Mr. Shashank Varma Jetty, and Mr. Hitesh Varma Jetty.

    Post-issue shareholding will see dilution due to the fresh issue component.

    **Critical Analysis: SWOT Perspective**

    To provide a balanced view, here is a structured assessment of Digilogic Systems’ position:

    **Strengths (Internal Positive Factors)**

    • Deep specialization in high-barrier-to-entry defence and aerospace technology.
    • Established relationships provide a steady stream of specialized, high-value contracts.
    • Strong promoter commitment demonstrated by high pre-IPO holding.

    **Weaknesses (Internal Negative Factors)**

    • Reliance on a concentrated client base (Defence/Aerospace), making revenue vulnerable to government allocation cycles.
    • The latest reported Debt-to-Equity ratio (0.63) suggests moderate leverage, though improving.

    **Opportunities (External Positive Factors)**

    • Growing ‘Make in India’ focus within the defence sector creates substantial addressable market growth.
    • Potential to leverage existing technology platforms into adjacent high-tech industrial applications.

    **Threats (External Negative Factors)**

    • Rapid technological shifts require constant R&D expenditure to maintain relevance.
    • Competition from established domestic and international system integrators.

    **Key Intermediaries for the IPO Process**

    Reliable intermediaries ensure smooth execution and investor grievance redressal.

    **Registrar and Lead Manager:**

    • Registrar: Kfin Technologies Ltd. This entity manages allotment status and refund processing. Contact details are available for tracking allotment status post-finalization.
    • Book Running Lead Manager (BRLM): Indorient Financial Services Ltd. This manager oversees the offering process and pricing strategy.
    • Market Maker: Pace Stock Broking Services Private Limited is appointed to ensure liquidity post-listing on the SME exchange.

    **Investor Guidance: Applying for the IPO**

    Investing in SME IPOs requires adherence to specific application procedures. It is recommended to use a broker that supports either the ASBA route via net banking or the UPI mandate system.

    When applying, ensure your application meets the minimum lot size requirements. Given the tight timeline, investors should finalize their due diligence and preferred brokerage application method well before the closing date.

    **Essential Contact Information:**

    PartyContact Detail Focus
    Digilogic Systems Ltd. (Company)Official address in Rangareddi, Telangana, and official corporate email.
    Kfin Technologies Ltd. (Registrar)Dedicated IPO status check website link and contact numbers.

    **Final Thoughts on the Digilogic Systems Offering**

    The Digilogic Systems IPO offers retail participants an opportunity to invest in a specialized technology company deeply integrated into the defence supply chain—a sector often characterized by long-term stability and growth potential driven by national priorities. While the SME listing environment can sometimes entail higher volatility compared to the main board, the company’s defined objectives for fund utilization—namely capacity expansion and debt reduction—suggest a focus on sustainable future growth. Thorough review of subscription trends closer to the closing date will be the final indicator of market sentiment towards this specialized engineering firm.

    Disclaimer: All IPO data provided is based on publicly available information at the time of publishing and should be used for informational purposes only. Market investments carry inherent risks.

  • KRM Ayurveda

    KRM Ayurveda IPO Analysis: A Comprehensive Look Before You Invest

    Navigating the KRM Ayurveda SME IPO: All You Need to Know for Publiclisting.in

    The Indian capital markets are constantly buzzing with new opportunities, and the SME segment, in particular, has been a hotbed for growth-oriented companies looking to expand. KRM Ayurveda Ltd. is entering this arena with its upcoming Initial Public Offering (IPO). For investors tracking the pulse of niche sectors, understanding the finer details of this offering is crucial. This analysis breaks down everything you need to know about the KRM Ayurveda IPO, from its business model to the financials driving its valuation.

    Understanding KRM Ayurveda Ltd.: The Business at a Glance

    Established in 2019, KRM Ayurveda Ltd. operates within the traditional yet increasingly modern Ayurvedic healthcare space. The company has established a significant footprint not just physically but also across digital health consultations.

    Core Operations and Offerings:

    • Healthcare Network: Operates a network comprising 6 Hospitals and 5 Clinics across various Indian cities.
    • Product Manufacturing: Engages in the production of authentic Ayurvedic products, including herbal remedies, essential medicines, supplements, and wellness items.
    • Modern Reach: Provides Telemedicine consulting services, extending its reach internationally.

    Competitive Advantages:

    The company highlights several factors positioning it well in the competitive wellness sector:

    • A team of skilled Ayurvedic physicians and certified therapists ensures high standards of treatment.
    • Medicines are manufactured in a centralized, GMP-certified facility, ensuring product quality and efficacy.
    • It has cultivated a trusted brand identity supported by a base of loyal and repeat clientele.

    KRM Ayurveda IPO Snapshot: Key Subscription Details

    This offering is structured as a Bookbuilding IPO on the NSE SME platform. Here is a quick summary of the issue size and price:

    Total Issue Size: ₹77.49 Crores

    Issue Type: Entirely a Fresh Issue (No Offer for Sale)

    Listing Platform: NSE SME

    IPO Timetable: Marking Your Calendar

    Coordinated timings are essential for timely application submission. The following table outlines the tentative schedule:

    EventTentative Date
    IPO Opens for SubscriptionMonday, January 19, 2026
    IPO Closes for SubscriptionWednesday, January 21, 2026
    Allotment FinalizationThursday, January 22, 2026
    Initiation of RefundsFriday, January 23, 2026
    Credit of Shares to Demat AccountFriday, January 23, 2026
    Tentative Listing DateTuesday, January 27, 2026

    Price Band, Lot Size, and Investment Requirements

    The offering provides a clear price band for investors to consider their bids. Remember, for SME IPOs, bidding is typically done in defined lot sizes.

    • Face Value per Share: ₹10
    • Price Band: ₹128 to ₹135 per share
    • Minimum Lot Size for Application: 1,000 shares

    Minimum Investment Calculation (Based on Upper Price of ₹135):

    Investor CategoryLotsSharesMinimum Investment Amount
    Retail Investor (Minimum)22,000₹2,70,000
    Small HNI (Minimum)33,000₹4,05,000

    IPO Allocation Structure (Net Offered to Public)

    The shares are distributed across different investor categories as per SEBI guidelines for SME listings:

    Investor CategoryReservation (of Net Issue)
    Qualified Institutional Buyers (QIB)Not more than 50%
    Non-Institutional Investors (NII)Not less than 15%
    Retail Individual Investors (RII)Not less than 35%

    Financial Health Check: Performance Indicators

    Analyzing past performance provides context for the current valuation. KRM Ayurveda has shown commendable growth trajectory leading up to the IPO.

    Year-on-Year Financial Performance (Restated Consolidated in ₹ Crore):

    MetricFY ended Mar 31, 2025FY ended Mar 31, 2024FY ended Mar 31, 2023
    Total Income76.9567.5789.38
    Profit After Tax (PAT)12.103.417.60
    EBITDA19.117.3411.03
    Total Borrowing31.2023.1819.87

    Notably, the company reported a significant surge in Profit After Tax, increasing by 255% between FY24 and FY25, alongside a 14% rise in revenue.

    Key Performance Ratios (KPIs) as of Mar 31, 2025:

    Key RatioValue
    Return on Equity (ROE)67.86%
    Return on Capital Employed (ROCE)43.33%
    PAT Margin15.80%
    Debt/Equity Ratio1.31
    EBITDA Margin24.96%

    Valuation and Promoter Strength

    The pre-IPO valuation based on post-IPO equity suggests a market capitalization of approximately ₹287.02 Crore. The Earnings Per Share (EPS) figures provide insight into shareholder returns:

    • Pre-IPO EPS: ₹7.79
    • Post-IPO EPS: ₹5.69
    • Post-Listing P/E Ratio (x): 23.73

    Promoter Structure and Holding:

    The company is championed by its promoters, Mr. Puneet Dhawan and Mrs. Tanya Dhawan.

    • Promoter Holding (Pre-Issue): 92.15%

    Strategic Allocation of IPO Proceeds

    Understanding where the raised capital is directed shows the management’s strategic priorities for future growth.

    IPO ObjectEstimated Amount (₹ Cr.)
    Capital Expenditure for Telemedicine Facilities13.67
    Loan Repayment/Prepayment12.50
    Working Capital Requirement18.00
    Human Resources Development5.44
    CRM Software & Hardware Purchase1.42
    General Corporate Purposes(Remaining)

    SWOT Analysis for KRM Ayurveda

    A balanced view requires assessing inherent strengths and potential challenges.

    Strengths (Internal Positives)

    • Strong growth in profitability (PAT up 255% YoY).
    • Dual revenue streams: established physical clinics/hospitals and growing product/telemedicine sales.
    • High RoE (67.86%) indicating efficient use of shareholder funds.

    Weaknesses (Internal Negatives)

    • Relatively high Debt-to-Equity ratio of 1.31 suggests reliance on debt financing.
    • Dependence on a relatively concentrated promoter shareholding pre-issue.

    Opportunities (External Positives)

    • Growing national and global consumer interest in Ayurveda and traditional medicine.
    • IPO funds earmarked for expansion in telemedicine infrastructure.

    Threats (External Negatives)

    • Intense competition from established conventional and modern alternative medicine providers.
    • Regulatory changes within the pharmaceutical/health sector.

    Key Intermediaries for the Issue

    The success and smooth execution of the IPO depend on efficient management by designated partners.

    Lead Manager:

    NEXGEN Financial Solutions Pvt. Ltd. is overseeing the IPO process.

    Registrar:

    Skyline Financial Services Pvt.Ltd. handles the allotment and investor coordination.

    Registrar Contact Details:
    • Phone: 022-28511022
    • Email: ipo@skylinerta.com

    Company Contact Information:

    KRM Ayurveda Ltd.
    • Address: A-16G T Karnal Road, North West Delhi, New Delhi, 110033
    • Phone: +91- 9289101700
    • Email: compliance@krmayurveda.com

    Concluding Thoughts on the KRM Ayurveda SME IPO

    The KRM Ayurveda IPO presents an opportunity to invest in a company leveraging the burgeoning health and wellness market through an established Ayurvedic framework. The financial results, particularly the recent explosive PAT growth, are compelling. However, prospective investors should weigh the high growth against the existing debt levels and the inherent risks associated with the specialized nature of the healthcare sector. Thorough due diligence regarding subscription trends as the IPO opens will be essential before making a final decision.

    Disclaimer: This information is based on publicly available data and analysis for educational purposes. Investing in IPOs, especially SME segments, involves substantial risk. Always consult with a qualified financial advisor before making investment decisions.

    © 2026 Publiclisting.in. All rights reserved.

  • Aritas Vinyl

    Aritas Vinyl IPO Analysis: Dive into the Details of the Upcoming SME Issue

    Unpacking the Aritas Vinyl SME IPO: Dates, Pricing, and Business Outlook

    The Indian capital markets are buzzing with activity, particularly in the SME segment, which continues to offer unique growth opportunities. Aritas Vinyl Limited, a player in the technical textile space specializing in artificial leather, is entering the fray with its Initial Public Offering (IPO). For prospective investors looking at SME listings, understanding the nitty-gritty of this issue is crucial. We break down everything you need to know about the Aritas Vinyl IPO, from its opening date to its business fundamentals.

    Key IPO Timeline and Structure Summary

    Aritas Vinyl IPO is a Book Building issue hitting the BSE SME platform. The total size is significant for an SME offering, indicating a push for capital expansion and working needs.

    IPO Open Date: Friday, January 16, 2026

    IPO Closing Date: Tuesday, January 20, 2026

    Tentative Listing Date: Friday, January 23, 2026

    For visualizing the timeline:

    IPO Open (Jan 16)
    IPO Close (Jan 20)
    Listing (Jan 23)

    Detailed IPO Subscription Specifications

    The IPO aggregates up to ₹38 Crores and comprises both a fresh issue component and an Offer for Sale (OFS). Understanding the split between fresh capital infusion and promoter monetization is key.

    ComponentShares OfferedApproximate Value (₹ Cr.)
    Total Issue Size79,83,000 shares38.00
    Fresh Issue (For Company)0.70 crore shares32.89
    Offer for Sale (OFS)0.10 crore shares4.63

    Price Band and Investment Mechanics

    The price band for the issue is set to gauge investor appetite. Bidding must adhere to specific lot sizes for different investor classes.

    • Price Band: ₹40 to ₹47 per share.
    • Face Value: ₹10 per share.
    • Lot Size: Minimum application requires 3,000 shares.
    • Minimum Retail Investment: ₹2,82,000 (based on the upper price band for 2 lots of 6,000 shares, noting the data suggests a minimum of 2 lots/6000 shares for retail, but standard SME lot size is 3000 shares, leading to a required minimum investment of ₹1,41,000 (3000 shares * ₹47). *Note: The provided data indicates a minimum retail investment of ₹2,82,000 for 6,000 shares (2 lots). Investors should confirm the final retail lot size.*

    Investor Category Reservation Breakdown

    A significant portion of the SME issue is often reserved for Non-Institutional Investors (NII) and Retail Individual Investors (RII).

    Investor CategoryShares OfferedPercentage (%)
    Market Maker4,02,0005.04%
    QIBs (Qualified Institutional Buyers)78,0000.98%
    NII (Non-Institutional Investors)29,91,00037.47%
    RII (Retail Individual Investors)45,12,00056.52%

    Understanding Aritas Vinyl Limited: The Business Profile

    Established in 2020, Aritas Vinyl has rapidly positioned itself in the technical textile manufacturing sector, focusing on synthetic leather alternatives.

    • Core Business: Manufacturing and trading of technical textiles, specifically Artificial Leather (PU Synthetic Leather and PVC-coated leather).
    • Technology Used: Employs Transfer Coating Technology.
    • Product Applications: Serves diverse sectors including Automotive Upholstery (seats, door trims), Fashion Accessories (bags, wallets), and Interior Design (wall coverings).
    • Market Reach: Supplies domestic distributors, wholesalers, manufacturers, and exports to regions like the USA, UAE, and Greece.
    • Infrastructure: Operates a 6,067 sq. meters manufacturing facility in Kubadthal, Ahmedabad, with an annual capacity of 7.8 million square meters.

    Competitive Edges in the Market

    The company highlights several strengths that contribute to its market standing:

    • Commitment to product quality and customization capabilities.
    • Strong leadership with promoters possessing deep industry understanding.
    • A strategically located, fully integrated manufacturing setup.
    • Demonstrated ability to scale production capacity quickly.
    • Cultivating long-term relationships across various customer industries.

    Financial Health Snapshot: A Look at Performance

    Analyzing the restated financial figures is vital for assessing the company’s operational efficiency and growth trajectory leading up to the IPO.

    Financial Performance Summary (Amounts in ₹ Crore)

    MetricAug 31, 2025 (Latest)Mar 31, 2025Mar 31, 2024Mar 31, 2023
    Total Income40.5898.0269.2551.42
    Profit After Tax (PAT)2.424.131.670.99
    EBITDA4.558.634.653.09
    Total Borrowing37.7836.8252.7933.10

    Key Performance Indicators (KPIs) Insight

    These indicators suggest improving profitability metrics relative to the size of operations:

    KPIAug 31, 2025Mar 31, 2025
    ROE (Return on Equity)11.16%31.23%
    PAT Margin5.97%4.23%
    Debt/Equity Ratio1.651.80

    Valuation Metrics and Promoter Structure

    The IPO structure results in a post-issue capitalization and promoter holding shift.

    MetricPre-IssuePost-Issue
    Market Capitalization₹92.54 Cr.(Calculated based on IPO Price)
    EPS (Rs)3.262.95
    P/E Ratio (x)14.4315.93
    Promoter Holding47.22%27.99%

    Founders and Management Strength

    The company is steered by a group of promoters, indicating shared responsibility and diverse expertise:

    • Mr. Anilkumar Prakashchandra Agrawal
    • Mr. Sanjaykumar Kantilal Patel
    • Mr. Ankit Anilbhai Agrawal
    • Mr. Mohit Ashokkumar Agrawal
    • Mr. Rohit Dineshbhai Agrawal
    • Mr. Rutvik Patel
    • Mr. Shubham Sunilbhai Agrawal

    Objectives of the Capital Raise

    The fresh capital raised is earmarked for specific growth and operational improvements.

    Purpose of Fund UtilizationEstimated Amount (₹ Cr.)
    Working Capital Requirements20.45
    Capital Expenditure for Solar Power Project4.26
    General Corporate Purposes(Balance)

    Internal Assessment: SWOT Analysis of Aritas Vinyl

    A balanced view requires assessing inherent strengths against potential market challenges.

    Strengths

    • Established presence in synthetic leather niche.
    • Experienced promoter team guiding operations.
    • Fully integrated facility supporting consistent quality.

    Weaknesses

    • High reliance on a relatively fragmented market segment.
    • The current Debt-to-Equity ratio suggests moderate leverage, which needs monitoring.

    Opportunities

    • Growing global demand for sustainable and affordable leather alternatives.
    • Potential for expanding product lines within technical textiles.

    Threats

    • Intense competition from established domestic and international players.
    • Volatility in raw material costs impacting margins.

    Crucial Intermediaries for the IPO Process

    Smooth execution of the IPO relies on experienced market partners.

    Book Running Lead Manager (BRLM)

    The issue is managed by Interactive Financial Services Ltd., which will oversee the process, marketing, and price discovery.

    Registrar to the Issue

    For allotment tracking and refund coordination, the registrar is Bigshare Services Pvt.Ltd.

    Contact Details for Registrar:

    • Phone: +91-22-6263 8200
    • Email: ipo@bigshareonline.com

    Company Contact Information

    For direct corporate inquiries:

    • Address: Survey No. 1134, Near Elegant Vinyl Private Limited, Daskroi, Ahmedabad, Gujarat, 382430
    • Phone: 9998852850
    • Email: info@aritasvinyl.com

    Final Considerations for Potential Applicants

    The Aritas Vinyl SME IPO presents an opportunity to invest in a company aiming to scale its manufacturing base within the artificial leather industry. While the financials show recent growth, market participants should assess the pricing against sector peers, especially given the competitive nature of the technical textile domain. For those comfortable with the inherent risks of SME listings and the current valuation outlook, monitoring the Grey Market Premium (GMP) as the subscription window opens will be the next step before final bidding decisions.

    Disclaimer: This analysis is based solely on the data provided and publicly available information regarding the IPO structure and company profile. Investment decisions in the stock market, especially in SME issues, carry inherent risks. It is advisable to conduct thorough due diligence or consult with a qualified financial advisor before making any investment commitment.

    © 2026 Publiclisting.in. All rights reserved.

  • Armour Security India

    Armour Security India IPO: Unpacking the Details for Investors

    Your Guide to the Latest SME Public Offering

    The Indian capital market is continually buzzing with new opportunities, and the upcoming Initial Public Offering (IPO) from Armour Security India Ltd. is drawing significant attention, particularly within the SME segment. As investors look to deploy capital efficiently, understanding the core aspects of an SME listing is crucial. This detailed analysis breaks down everything you need to know about the Armour Security India IPO—from its business profile to the finer details of the bidding process.

    Understanding Armour Security India Ltd.

    Armour Security India Ltd., established in August 1999, is a reputable player in the comprehensive security solutions domain across India. They cater to a wide spectrum of needs, positioning themselves as a holistic service provider rather than just a guarding agency.

    Core Service Offerings

    • **Private Security Services:** Deployment of thoroughly trained security personnel based on specific client mandates.
    • **Integrated Facility Management:** Providing end-to-end solutions including daily cleaning, waste management, building system upkeep, and integrated security.
    • **Housekeeping Services:** Professional office cleaning, including dusting, surface maintenance, and restroom upkeep.
    • **Event Security & Management:** Dedicated security and management services for corporate events, social gatherings, and product launches.
    • **Firefighting Preparedness:** Training programs covering safety drills, equipment utilization, and emergency procedures.
    • **Specialized Manpower Services:** Offering skilled, semi-skilled, and unskilled blue-collar staff like drivers, electricians, data entry operators, and pantry support.

    Competitive Advantages in the Sector

    The company leverages several strengths to maintain its market standing:

    • **Broad Service Portfolio:** Ability to offer bundled services minimizes vendor complexity for clients.
    • **Depth of Experience:** Long-standing presence in the market contributes to operational expertise.
    • **Strong Compliance Focus:** Adherence to required certifications and regulatory standards.
    • **Client Relationship Focus:** Demonstrated history of retaining customer accounts.
    • **Adoption of Modern Systems:** Integrating technology to enhance service delivery and oversight.

    Key IPO Subscription Blueprint

    The Armour Security India IPO is structured as a Book Building issue, aiming to raise capital entirely through a fresh issue of shares. Understanding the dates and the pricing is step one for any interested bidder.

    IPO Timeline at a Glance

    EventTentative Date
    IPO Opens for BiddingWednesday, January 14, 2026
    IPO Subscription ClosesMonday, January 19, 2026
    Basis of Allotment FinalizedTuesday, January 20, 2026
    Initiation of RefundsWednesday, January 21, 2026
    Shares Credited to Demat AccountWednesday, January 21, 2026
    Tentative Listing on NSE SMEThursday, January 22, 2026

    Financial Terms and Structure

    Price Discovery:

    The price band for this offering is set between ₹55 and ₹57 per share, with a face value of ₹10.

    MetricValue
    Total Fresh Issue Size₹26.51 Crores (Approx.)
    Total Shares Offered46,50,000 Shares
    Issue TypeBookbuilding (NSE SME Listing)
    Pre-IPO Market Capitalization₹96.16 Crores

    Understanding the Application Lot Size

    Investors must adhere to specific lot sizes for bidding:

    Investor TypeLotsSharesMinimum Investment (Upper Price)
    Retail (Minimum)24,000₹2,28,000
    HNI (S-HNI Minimum)36,000₹3,42,000

    Reservation Breakdown for Bidders

    The total shares offered are distributed across various investor categories:

    Investor CategoryShares AllocatedPercentage (%)
    Retail Individual Investors (RII)21,80,00046.88%
    Non-Institutional Investors (NII)21,90,00047.10%
    Qualified Institutional Buyers (QIB)46,0000.99%
    Market Maker Reservation2,34,0005.03%

    Financial Health Snapshot & Valuation Metrics

    Analyzing the company’s recent financial performance helps contextualize the IPO valuation.

    Recent Financial Performance (Restated Figures in ₹ Crore)

    Parameter30 Sep 202531 Mar 202531 Mar 2024
    Total Income19.6936.5633.10
    Profit After Tax (PAT)2.903.972.62
    Total Borrowing6.014.691.80

    Valuation Ratios and Key Performance Indicators (KPIs)

    Key metrics based on recent performance data:

    KPISep 30, 2025Mar 31, 2025
    Return on Equity (ROE)13.61%21.56%
    PAT Margin14.76%11.14%
    Debt/Equity Ratio0.280.25
    P/E Ratio (Post Issue based on latest EPS)16.55x

    Shareholding Pattern

    • **Promoter Holding (Pre-Issue):** A very strong 96.80% indicates high promoter confidence.
    • **Post-Issue Structure:** Following the fresh issue, the total share base increases, leading to a slight dilution for promoters.

    Objectives of the Public Offering

    The capital raised through this offering is earmarked for strategic organizational strengthening:

    PurposeEstimated Amount (₹ Cr.)
    Funding Working Capital Needs15.90
    Capital Expenditure (Machinery, Vehicles)1.61
    Repayment/Pre-payment of Borrowings2.40
    General Corporate Purposes(Balance Allocation)

    Strengths, Weaknesses, Opportunities, and Threats (SWOT Analysis)

    A balanced view requires evaluating internal capabilities against external pressures.

    Internal Assessment

    Strengths (S)

    • Diversified service mix catering to multiple security needs.
    • Deep sector knowledge and experience base.
    • High promoter holding suggesting alignment of interests.

    Weaknesses (W)

    • High dependence on manpower leading to potential HR challenges.
    • SME listing implies smaller size and potentially higher risk profile compared to mainboard peers.

    External Factors

    Opportunities (O)

    • Growing demand for professional, technology-backed security in commercial real estate.
    • Expanding into untapped regional markets across India.
    • Increased outsourcing of non-core activities like housekeeping by large corporations.

    Threats (T)

    • Intense competition from established large-scale security firms.
    • Regulatory changes impacting labor costs or licensing requirements.
    • Economic slowdown affecting corporate spending on outsourced services.

    Key Intermediaries for the Offering

    The success of the IPO relies on trusted intermediaries handling the process:

    Lead Manager and Registrar

    RoleName
    Book Running Lead Manager (BRLM)Sobhagya Capital Options Pvt.Ltd.
    Registrar (RTI)Skyline Financial Services Pvt.Ltd.
    Market MakerNNM Securities Pvt.Ltd.

    Contact Information for Assistance

    • **Registrar Contact:** For allotment queries, the registrar can be reached via phone or email (details available via the official website).
    • **Company Contact:** Armour Security India Ltd. is headquartered in New Delhi.

    How to Navigate the Application Process

    Applying for an SME IPO typically involves using UPI mandates through your broker account. While the exact steps vary slightly between brokerage platforms, the fundamental procedure remains consistent.

    General Steps for Online IPO Application

    • Log into your chosen brokerage’s online portal or mobile application.
    • Navigate to the IPO section and select the Armour Security India IPO.
    • Input the required bid details—quantity (in multiples of the 2,000 share lot size) and price (either the cut-off price or the upper band price).
    • Enter your valid UPI ID for payment authorization.
    • Once the application is submitted online, you must approve the mandate notification received in your UPI application (e.g., Google Pay, PhonePe, BHIM) promptly to block the funds.

    It is vital to ensure the UPI mandate is authorized quickly after submitting the bid, as unapproved mandates lead to application rejection.

    Concluding Thoughts on the SME Offering

    Armour Security India presents an opportunity to invest in a company with a stable presence in the essential security and facility management industry. The IPO structure, the clear utilization plan focusing on working capital and capital expenditure, and the high promoter stake are factors that warrant attention. As this is an NSE SME listing, potential investors should weigh the inherent liquidity differences associated with smaller-cap stocks against the company’s demonstrated growth trajectory. Thorough due diligence using the provided prospectuses remains the most prudent course of action before committing funds.

    © 2026 Publiclisting.in. All rights reserved. Information compiled for analysis purposes only.

  • Amagi Media Labs

    Decoding the Amagi Media Labs IPO: Your Comprehensive Guide

    Insights, Analysis, and Key Dates for the Upcoming Mainboard Issue

    The Indian capital market is gearing up for a significant event with the much-anticipated Initial Public Offering (IPO) from **Amagi Media Labs Ltd.** This technology giant, a key player in cloud-based broadcast and connected TV solutions, is set to hit the public markets. For investors keen on tapping into the future of media technology, understanding the nuances of this offering is crucial. We have compiled all the essential data—from the timeline and pricing to the company’s underlying fundamentals—to equip you with the knowledge needed to make an informed decision.

    Amagi Media Labs: Innovating the Future of Media Technology

    Amagi Media Labs Ltd., established in 2008 and headquartered in Bengaluru, is at the forefront of revolutionizing how content is created, distributed, and monetized. They specialize in cloud-based technology, particularly enabling broadcasters and content owners to launch and manage channels on modern platforms like Free Ad-supported Streaming TV (FAST). Serving a vast global clientele across over 100 countries, Amagi’s strength lies in its end-to-end SaaS offerings that drastically cut traditional infrastructure costs while boosting scalability.

    Core Technology Offerings:

    • **Amagi CLOUDPORT:** A globally capable, cloud-based playout platform, eliminating the need for heavy physical infrastructure.
    • **Amagi THUNDERSTORM:** Sophisticated server-side ad insertion technology for personalized and targeted advertising across OTT and FAST ecosystems.
    • **ON-DEMAND & FAST Solutions:** Tools facilitating content owners in quickly launching 24/7 channels on major streaming platforms (e.g., Samsung TV Plus, Roku).

    IPO Blueprint: Key Offer Details

    This is a substantial **Bookbuilding IPO** aggregating up to ₹1,788.62 Crores. The offering is strategically structured as a mix of fresh equity issuance to fuel growth and an Offer for Sale (OFS) by existing stakeholders.

    Amagi Media Labs IPO Summary Table:

    MetricDetail
    Issue TypeBookbuilding IPO (Mainboard)
    Total Issue Size (Shares)4,95,46,221 Shares (Approx. ₹1,789 Cr)
    Price Band₹343 to ₹361 per share
    Face Value₹5 per share
    Fresh Issue Component₹816.00 Crores
    Offer for Sale Component₹972.62 Crores

    IPO Timeline: Mark Your Calendar (Tentative)

    The subscription window is short, emphasizing the need for timely application.

    IPO Opens (Jan 13) Listing (Jan 21)
    Open Date: Tue, Jan 13, 2026Allotment: Mon, Jan 19, 2026
    Close Date: Fri, Jan 16, 2026Listing Date (Tentative): Wed, Jan 21, 2026

    Investment Sizing: Lot Details

    Retail investors must adhere to the fixed lot size structure for application.

    Investor CategoryLotsSharesMin. Investment (at Upper Price)
    Retail (Minimum Bid)141₹14,801
    S-HNI (Minimum Bid)14574₹2,07,214
    B-HNI (Minimum Bid)682,788₹10,06,468

    Financial Health & Valuation Snapshot

    Examining the company’s financials helps gauge its past trajectory and present valuation context against the IPO price.

    Corporate Performance Metrics (Restated Consolidated)

    Financial Item (₹ Crore)Mar ’24Sep ’25
    Total Income942.24733.93
    Profit After Tax (PAT)-245.006.47
    EBITDA-155.5358.23
    Return on Net Worth (RoNW)N/A0.75%
    PAT MarginN/A0.88%

    Valuation Benchmarks (Pre & Post-Issue)

    MetricPre-IPOPost-IPO
    Market Capitalization₹7,809.84 Cr.(Implied)
    Earnings Per Share (EPS)-3.55 Rs0.60 Rs
    Price to Earnings (P/E Ratio)-101.78x603.54x
    Price to Book Value8.61x14.10x

    Corporate Structure and Promoter Strength

    The ownership structure reveals the founders’ continued commitment post-listing. The promoters are Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan Karapattu.

    Shareholding Changes

    • Pre-Issue Promoter Holding: 15.76%
    • Post-Issue Promoter Holding: 14.14% (Indicating a dilution proportional to the fresh issue component)

    Objective of the Fundraising: Fueling Expansion

    The utilization of the net proceeds is clearly directed towards strategic growth initiatives:

    PurposeEstimated Amount (₹ Crores)
    Investment in Technology and Cloud Infrastructure550.06
    Funding Inorganic Growth (Unidentified Acquisitions) & General Corporate PurposesBalance

    Key Intermediaries for the Issue

    The success and smooth handling of any IPO rely heavily on the expertise of the appointed managers and registrars.

    Lead Managers (Book Running Lead Managers – BRLMs):

    • Kotak Mahindra Capital Co.Ltd.
    • Citigroup Global Markets India Pvt.Ltd.
    • Goldman Sachs (India) Securities Pvt.Ltd.
    • IIFL Capital Services Ltd.
    • Avendus Capital Pvt.Ltd.

    Registrar to the Issue (RTI):

    The registrar responsible for allotment processing and investor query resolution is **MUFG Intime India Pvt.Ltd.**

    • Contact Email: amagimedia.ipo@in.mpms.mufg.com

    Strategic Assessment: Strengths and Weaknesses

    A balanced view requires looking at both the advantages the company brings and the inherent challenges it faces in the competitive tech landscape.

    Competitive Advantages (Strengths):

    • Offers comprehensive “glass-to-glass” solutions, covering the entire media workflow.
    • Possesses an award-winning, proprietary technology platform leveraging Artificial Intelligence.
    • Strong foundation built on long-term relationships with reputable global customers.
    • Management team recognized for visionary leadership and commitment to continuous innovation.
    • Well-positioned within the dynamic three-sided marketplace (Content Owners, Platforms, Advertisers).

    Internal Challenges (Weaknesses):

    • The company reported losses in the preceding financial years prior to a recent marginal profit in Sep ’25.
    • Valuation metrics like the post-IPO P/E ratio appear high, suggesting significant growth expectations are already priced in.
    • Reliance on a few key customers or rapid shifts in advertising technology could pose risks.

    Investor Participation Structure

    The allocation of shares across different investor categories sets the demand dynamics for the IPO:

    Investor CategoryAllocation Quota (of Net Issue)
    Qualified Institutional Buyers (QIB)Not less than 75%
    Non-Institutional Investors (NII)Not more than 15%
    Retail Individual Investors (RII)Not more than 10%

    How to Participate: Application Methods

    Investors have flexibility in how they submit their applications, primarily through UPI or the ASBA route. For those utilizing popular discount broker platforms:

    • Applications can be placed online via broker portals like Zerodha Console or similar platforms offering UPI linkage.
    • The process involves logging in, navigating to the IPO section, selecting Amagi Media Labs, specifying the bid quantity, and approving the mandate via the linked UPI app.

    Final Takeaway for Potential Investors

    Amagi Media Labs presents an opportunity to invest in a structurally strong company dominating a high-growth sector—cloud media technology. While recent financials show a crucial pivot toward profitability, the post-IPO valuation carries significant future growth expectations. Thoroughly assessing the company’s growth drivers against its premium pricing in relation to its peers is a necessary step before committing capital. Ensure all documentary requirements, including having an active Demat account, are met well ahead of the subscription closure date.

    Company Contact Information:

    Address:Raj Alkaa Park, Kalena Agrahara Village, Bengaluru, Karnataka, 560076
    Phone:080- 46634406
    Email:compliance@amagi.com

    Disclaimer: The information provided is based on the IPO Draft Red Herring Prospectus (DRHP) and public data available at the time of writing and should not be construed as investment advice. Always conduct independent due diligence before investing.

    © 2026 Publiclisting.in. All rights reserved.

  • INDO SMC

    INDO SMC IPO: Your Comprehensive Guide to the Upcoming SME Issue

    Navigating the Details for Informed Investment Decisions

    Unpacking the INDO SMC Public Offering

    The Indian capital market is buzzing with activity, particularly in the SME segment, and the upcoming Initial Public Offering (IPO) from INDO SMC Ltd. is drawing significant attention. This book-building issue presents an opportunity for investors to participate in a company deeply rooted in the electrical and industrial infrastructure sector. Before diving in, a thorough understanding of the company’s profile, financials, and IPO specifics is crucial.

    What Does INDO SMC Ltd. Do?

    INDO SMC Ltd. specializes in the design and manufacturing of a diverse portfolio of products vital for electrical, industrial, and infrastructural applications. Their offerings include:

    • Enclosure boxes for energy meters.
    • High Tension Current Transformers (HTCT) and High Tension Potential Transformers (HTPT).
    • Low Tension Current Transformers (LTCT), distribution boxes, and panels.
    • Fiberglass Reinforced Plastic (FRP) Grating.
    • Junction boxes, feeder pillars, and various power distribution and circuit protection switchgears.

    The company reinforces its market standing through in-house testing laboratories and operates across four manufacturing facilities located in Gujarat, Maharashtra, and Rajasthan. Their competitive edge is built upon a diverse product range, strong production capabilities, deep industry knowledge, stringent quality assurance, and established client relationships.

    Key IPO Structure and Timeline Insights

    This SME IPO is structured as a complete Fresh Issue, meaning all proceeds will go directly to the company to fund its growth objectives. Here is a snapshot of the critical dates you need to track:

    MilestoneTentative Date
    IPO Subscription OpensTuesday, January 13, 2026
    IPO Subscription ClosesFriday, January 16, 2026
    Finalization of AllotmentMonday, January 19, 2026
    Initiation of Refunds/Share Credit to DematTuesday, January 20, 2026
    Tentative Listing DateWednesday, January 21, 2026 (On BSE SME)

    Tracking the Timeline Progress:

    (Timeline visualization: Indicating progress toward listing)

    IPO Financial Structure and Pricing Metrics

    ParameterDetails
    Issue TypeBookbuilding IPO
    Total Issue Size (Shares)61.71 Lakh Shares (Agg.)
    Total Issue Value₹91.95 Crores (Agg.)
    Face Value₹10 per share
    Price Band₹141 to ₹149 per share
    Listing ExchangeBSE SME
    Market Capitalization (Pre-IPO)₹340.54 Crore

    Investment Lot Size and Minimum Commitment

    The minimum investment threshold is set by the lot size. For retail individual investors (RIIs), the application must be made for at least one lot.

    Investor CategoryLots AppliedSharesMinimum Investment (Upper Price)
    Individual Investor (Retail – Min)22,000₹2,98,000
    S-HNI (Small HNI – Min)33,000₹4,47,000

    The minimum lot size is 1,000 shares, meaning the minimum investment for a retail applicant (at the upper band of ₹149) is ₹149 x 1,000 = ₹1,49,000 based on standard lot size. However, the data suggests the minimum application size is 2 lots (2,000 shares) for retail, leading to the ₹2,98,000 commitment.

    IPO Allocation Structure

    The distribution of shares across different investor classes indicates the focus of the offering. A significant portion is reserved for Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs).

    Investor CategoryShares OfferedPercentage (%)
    Qualified Institutional Buyers (QIB) (Total)29,28,00047.45%
    Retail Individual Investors (RII)20,52,00033.25%
    Non-Institutional Investors (NII)8,82,00014.29%
    Market Maker Reservation3,09,0005.01%

    Financial Health Check: Performance Indicators

    Analyzing the recent financials provides context for the company’s growth trajectory and valuation.

    Restated Consolidated Financial Summary (Amounts in ₹ Crore)

    MetricMar 2024Mar 2025Sep 2025 (Interim)
    Total Income28.06138.78112.62
    Profit After Tax (PAT)3.0015.4411.46
    EBITDA5.0822.8317.19
    Total Borrowing17.7035.7649.35

    Valuation and Profitability Ratios (KPIs)

    The Key Performance Indicators show the recent rapid enhancement in efficiency, though the debt level warrants attention.

    KPIMar 2025 (%)Sep 2025 (%)
    Return on Equity (ROE)74.45%27.66%
    PAT Margin11.13%10.18%
    Debt/Equity Ratio1.001.05

    Valuation Snapshot (P/E Ratio)

    Comparing pre-issue and post-issue Earnings Per Share (EPS) and Price-to-Earnings (P/E) multiples helps gauge the IPO pricing relative to future earnings potential.

    Valuation MetricPre-IssuePost-Issue
    EPS (Rs)9.2510.02
    P/E (x)16.1114.86

    Ownership Structure and IPO Proceeds Allocation

    Promoter Stake Dynamics

    The promoters hold a significant stake, which is expected to dilute following the public offering, signaling capital infusion for expansion.

    • Promoters: Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah, Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel, and Mr. Rachit Jain.
    • Promoter Holding (Pre-Issue): 82.30%
    • Promoter Holding (Post-Issue): 60.07%

    Objective of Utilizing IPO Funds

    The primary use of the net proceeds is strategically focused on enhancing operational capacity and managing liquidity.

    Purpose of IssueEstimated Amount (₹ Cr.)
    Funding Capital Expenditure (Plant & Machinery Purchase)25.71
    Funding Working Capital Requirements52.00
    General Corporate Purposes(Balance Amount)

    SWOT Analysis: Understanding the Landscape

    To provide a balanced perspective, here is an overview of the potential Strengths, Weaknesses, Opportunities, and Threats surrounding INDO SMC Ltd. ahead of its listing.

    Strengths

    • Established relationships with clientele in critical infrastructure sectors.
    • Proven track record in manufacturing complex electrical and industrial components.
    • Multi-location manufacturing base providing operational flexibility.
    • Strong emphasis on quality assurance through internal testing labs.

    Weaknesses

    • Moderate increase in Total Borrowings leading to a Debt/Equity ratio above 1.0.
    • Concentration of operations in a few geographical areas (Gujarat, Maharashtra, Rajasthan).
    • The SME segment listing inherently carries higher volatility risks compared to Mainboard.

    Opportunities

    • Government focus on infrastructure development drives demand for their core products.
    • Utilizing fresh IPO funds to reduce reliance on short-term working capital loans.
    • Potential expansion into new product lines or geographical markets.

    Threats

    • Fluctuations in raw material costs impacting profitability margins.
    • Intense competition from established players in the switchgear and enclosure market.
    • Potential downturns in industrial and infrastructure spending cycles.

    Intermediaries Facilitating the Issue

    The smooth execution of the IPO relies on experienced third-party entities:

    Registrar and Lead Manager

    • Book Running Lead Manager (BRLM): GYR Capital Advisors Pvt.Ltd.
    • Registrar & Transfer Agent: Kfin Technologies Ltd.

    Investors requiring assistance with allotment status or share credits should direct their queries to the Registrar. Contact details for Kfin Technologies Ltd. include telephone numbers (040-67162222, 040-79611000) and email support.

    Market Makers Appointed

    Market Makers play a vital role in ensuring liquidity post-listing on the BSE SME platform.

    • Giriraj Stock Broking Pvt.Ltd.
    • Nikunj Stock Brokers Ltd.

    Frequently Asked Questions About INDO SMC IPO

    What is the minimum application size for INDO SMC IPO?

    The lot size is 1,000 shares. For retail investors, the minimum application seems to require booking 2 lots, totaling 2,000 shares, requiring an investment of approximately ₹2,98,000 at the upper price band.

    How can retail investors apply for this SME IPO?

    Applications can be submitted electronically using either the UPI (Unified Payments Interface) method or the ASBA (Applications Supported by Blocked Amount) facility available through your net banking portal.

    When is the expected listing date?

    The tentative date for the shares of INDO SMC Ltd. to commence trading on the BSE SME is Wednesday, January 21, 2026.

    Disclaimer: This analysis is based on provided data and publicly available information for educational purposes. Investment decisions in IPOs involve market risks. Always consult with a qualified financial advisor before investing.

    © 2026 Publiclisting.in. All rights reserved.

  • Narmadesh Brass Industries

    Narmadesh Brass Industries IPO: A Comprehensive Look at the Upcoming SME Offering

    Your essential guide to the Narmadesh Brass Industries IPO, analyzing key details, financials, and future outlook.

    Introduction: Brass Industry Spotlight

    The Indian SME sector continues to attract significant investor attention, and the upcoming Initial Public Offering (IPO) from Narmadesh Brass Industries Ltd. is poised to be a key event in the manufacturing space. Based in Jamnagar, Gujarat—India’s recognized ‘Brass City’—this company offers a deep dive into specialized brass component manufacturing. For potential investors, understanding the nuances of this Fixed Price Issue on the BSE SME platform is crucial before committing capital.

    This post compiles all the necessary data, from issue mechanics to the company’s underlying business strengths, to help you form an informed perspective.

    Key IPO Snapshot and Timeline

    Narmadesh Brass Industries is launching a Fixed Price IPO, combining both a Fresh Issue of shares to raise capital for growth and an Offer for Sale (OFS) component. The subscription window opens in mid-January 2026.

    IPO Schedule At A Glance (Tentative Dates)

    EventTentative Date
    IPO Opens for SubscriptionMonday, Jan 12, 2026
    IPO Closes for SubscriptionThursday, Jan 15, 2026
    Finalization of Basis of AllotmentFriday, Jan 16, 2026
    Initiation of Refunds / Credit to DematMonday, Jan 19, 2026
    Tentative Listing Date on BSE SMETuesday, Jan 20, 2026

    Progress Bar: IPO Subscription Status (Visual Placeholder)

    (Subscription status will update dynamically once bidding commences.)

    IPO Offering Structure Details

    The total issue size aggregates up to ₹45 Crores. The funds raised will be strategically deployed across key business areas.

    Breakdown of Shares Offered

    Investor CategoryShares OfferedPercentage (%)
    Market Maker Reserve45,6005.23%
    Non-Institutional Investors (NII/HNI)4,12,80047.38%
    Retail Individual Investors (RII)4,12,80047.38%
    Total Shares Offered8,71,200100.00%

    The issue price is fixed at ₹515 per share, with a face value of ₹10.

    Investment Lot Size Requirements

    Investment in the IPO must adhere to specific lot sizes:

    • Minimum Application (Retail): 2 Lots, totaling 480 shares, requiring an investment of ₹2,47,200.
    • HNI Minimum Application: 3 Lots, totaling 720 shares, amounting to ₹3,70,800.

    Business Overview: Manufacturing Prowess in Jamnagar

    Narmadesh Brass Industries is deeply rooted in Jamnagar, Gujarat, leveraging its strategic location in the brass manufacturing hub. They manage the entire production lifecycle in-house, which is a significant operational advantage.

    Core Product Portfolio and Capabilities

    • Key Products: Brass Billets, Brass Rods, various Brass Valves (including Ball Valves and NRVs), and extensive Plumbing/Sanitary Fittings.
    • Value-Added Services: Expertise in Customization via Casting, Forging, Turning, and precision CNC & VMC Machined Components.
    • Quality Assurance: Certified with ISO 9001:2015 for their Quality Management System, signifying adherence to global standards.

    Financial Health Check (Restated Figures in ₹ Crore)

    Analyzing the recent financial performance provides insights into operational efficiency and growth trajectory. The figures show a positive trend in total income leading up to the latest reported period.

    Select Financial Performance Indicators

    MetricSep 30, 2025Mar 31, 2025Mar 31, 2024
    Total Income34.2188.0579.06
    Profit After Tax (PAT)4.015.727.10
    Total Borrowing19.2124.7322.43

    Efficiency Ratios (KPIs)

    IndicatorSep 30, 2025Mar 31, 2025
    Return on Equity (ROE)17.86%49.99%
    PAT Margin11.74%6.52%

    Ownership Structure and Capital Deployment

    Promoter Holding Dynamics

    The initial ownership is highly concentrated, a common trait in SME listings. Post-issue, this will dilute significantly due to the fresh capital infusion.

    Holding MetricPre-IPO (%)Post-IPO (%)
    Promoter Holding99.92%71.84%

    Objectives of the Issue Proceeds

    The primary utilization of the net proceeds is focused on debt reduction and capacity enhancement:

    PurposeEstimated Amount (₹ Cr)
    Repayment/Prepayment of Outstanding Borrowings14.50
    Purchase of Machinery and Equipment3.29
    Funding Working Capital Requirements10.20
    General Corporate Purpose4.60

    Strategic Assessment: Strengths, Weaknesses, Opportunities, Threats (SWOT)

    A balanced view requires looking beyond the financials to assess the company’s competitive positioning.

    Competitive Advantages (Strengths)

    • Geographical Advantage: Operations based in Jamnagar, providing proximity to raw material sources and industry expertise.
    • Integrated Manufacturing: Control over the entire chain, from casting billets to finished goods, enhancing quality control and agility.
    • Established Management: Experienced leadership providing stability and continuity to the business operations.

    Areas for Scrutiny (Weaknesses & Threats)

    • High Existing Debt: Although repayment is an objective, current total borrowings remain significant relative to net worth, indicating leverage.
    • Dependence on Contract Labor: The utilization of 81 contract laborers suggests potential workforce management risks compared to a fully permanent setup.
    • Commodity Price Risk: As a brass manufacturer, profitability is highly sensitive to fluctuations in copper and zinc prices (raw materials).

    Future Prospects (Opportunities)

    • Infrastructure Push: Growing domestic demand for plumbing and fittings driven by construction and infrastructure sectors.
    • Export Market Penetration: Leveraging ISO certification to expand the customer base in international markets for high-quality brass components.

    Intermediaries Managing the Issue

    The success of the IPO process relies heavily on experienced managers and registrars.

    Registrar and Lead Manager Details

    • Book Running Lead Manager (BRLM): Aryaman Financial Services Ltd.
    • Registrar to the Issue: Kfin Technologies Ltd. (Contact details include phone numbers and an official website link for allotment status checks).
    • Market Maker: JSK Securities & Services Pvt.Ltd. ensures liquidity post-listing on the SME exchange.

    Company Contact Information

    For direct inquiries or verification of documents, the registered office details are provided below:

    Narmadesh Brass Industries Ltd.
    Address: Plot No. 5, 8 & 9, Survey No. 433, Shree Ganesh Industrial Hub, Changa Village, Jamnagar, Gujarat, 361012
    Phone: +91 028 95299401
    Email: info@narmadeshbrass.com

    This analysis is based on publicly available Draft Red Herring Prospectus (DRHP) information. Investment decisions should always be based on thorough personal due diligence and consultation with a financial advisor.

    © 2026 Publiclisting.in. All rights reserved.

  • GRE Renew Enertech

    GRE Renew Enertech IPO Analysis: Your Essential Guide for PublicListing.in

    Decoding the GRE Renew Enertech IPO: A Comprehensive Look for Investors

    The Initial Public Offering (IPO) market remains a dynamic space for capital raising and investment opportunities. Among the recent listings drawing attention is the SME IPO from GRE Renew Enertech Limited. This company, focusing on the burgeoning renewable energy sector, is set to list on the BSE SME platform. For investors looking to understand the core fundamentals and potential of this offering, this detailed analysis breaks down everything you need to know before applying.

    Understanding the Company: GRE Renew Enertech Limited

    GRE Renew Enertech Limited has positioned itself within the crucial solar energy and LED lighting solutions domain. While initially rooted in LED manufacturing, the company’s current strategic focus leans heavily towards solar energy projects, aligning perfectly with India’s national push towards sustainable power.

    Core Business Verticals:

    • EPC Model (CAPEX): Providing end-to-end engineering, procurement, construction, and commissioning services for solar PV plants, where the client owns the asset.
    • RESCO Model (OPEX): Where the company funds and owns the rooftop solar systems, generating annuity income through long-term tariffs paid by consumers.

    Key Offerings:

    • Turnkey Solar EPC Solutions with Operations & Maintenance contracts.
    • On-Grid Solar Rooftop Systems designed for grid synchronization and bill reduction.
    • Hybrid Solar Rooftop Systems integrating battery storage for uninterrupted power.
    • Supply of high-efficiency Solar PV Modules.

    Competitive Advantages Noted:

    • A seasoned management team with relevant industry exposure.
    • Commitment to skill development for robust Operation & Maintenance capabilities.
    • A visible order book providing revenue visibility.
    • Favorable policy environment supporting renewable energy adoption.

    GRE Renew Enertech IPO: Key Subscription Details

    This is a Book Building issue on the BSE SME segment, aiming to raise capital primarily through a fresh issue of shares. Understanding the timelines and pricing is vital for timely participation.

    IPO Snapshot: The offering is a fresh issue of 0.38 crore shares, aggregating to approximately ₹39.56 Crores. The IPO is scheduled to open on January 13, 2026, and close on January 16, 2026.

    IPO Timeline Overview (Tentative Schedule)

    The following table outlines the critical dates for the GRE Renew Enertech IPO process:

    MilestoneDate
    IPO Opening DateTuesday, January 13, 2026
    IPO Closing DateFriday, January 16, 2026
    Basis of Allotment FinalizationMonday, January 19, 2026
    Initiation of RefundsTuesday, January 20, 2026
    Credit of Shares to Demat AccountTuesday, January 20, 2026
    Tentative Listing Date on BSE SMEWednesday, January 21, 2026

    Pricing and Application Structure

    The price band for the issue is set, determining the potential cost of investment. Given the lot size, retail investors need to calculate their minimum required capital outlay.

    ParameterDetail
    Face Value Per Share₹10
    Price Band (Per Share)₹100 to ₹105
    Lot Size1,200 Shares
    Minimum Retail Investment (2 Lots)₹2,52,000

    Share Allocation Breakdown

    The shares are distributed across various investor categories based on SEBI norms for SME IPOs. The allocation structure influences the availability for retail participants.

    Investor CategoryShares Offered (Approx.)Percentage (%)
    Qualified Institutional Buyers (QIB) (Incl. Anchor)17,76,00047.13%
    Non-Institutional Investors (NII)5,40,00014.33%
    Retail Individual Investors (RII)12,60,00033.44%
    Market Maker Reservation1,92,0005.10%
    Total Issue Size37,68,000100.00%

    Corporate Health Check: Financial Performance Insights

    Evaluating the company’s recent financial trajectory gives essential context to its valuation. The data below presents the restated consolidated financial figures (Amounts in ₹ Crore).

    Metric30 Sep 2025 (Interim)31 Mar 202531 Mar 202431 Mar 2023
    Total Income43.9884.3792.1553.11
    Profit After Tax (PAT)4.007.039.910.89
    EBITDA5.729.4811.481.31
    Total Borrowing1.451.594.574.75

    Key Valuation Metrics (As of Mar 31, 2025 Data)

    These Key Performance Indicators (KPIs) offer a snapshot of efficiency and leverage:

    KPIValue
    Return on Equity (ROE)26.89%
    Return on Capital Employed (ROCE)29.60%
    Debt/Equity Ratio0.05
    PAT Margin8.39%
    Price to Book Value (P/BV)3.54

    Impact of Equity Dilution

    The IPO involves significant equity dilution, which impacts per-share metrics:

    MetricPre-IPO EPS (Rs)Post-IPO EPS (Rs)P/E Ratio (x)
    Valuation Snapshot6.685.6015.72 (Pre) / 18.75 (Post)
    Promoter Holding95.06%69.99%(N/A)

    The promoter holding is set to reduce substantially post-issue, from nearly absolute ownership to approximately 70%.

    Strategic Use of IPO Proceeds

    The primary objective of raising capital is clearly defined, providing transparency on how the funds will be deployed to drive future growth.

    IPO ObjectiveEstimated Amount (₹ Cr.)
    Setting up 7.20 MW (AC) / 9.99 MW (DC) Ground Mounted Solar Plant32.61
    General Corporate Purposes(Remainder)

    A significant portion of the proceeds is earmarked for tangible asset creation—the new ground-mounted solar power plant—which should bolster future revenue streams.

    Stakeholders and Intermediaries

    The successful execution of the IPO relies on experienced intermediaries:

    • Book Running Lead Manager (BRLM): Share India Capital Services Pvt.Ltd.
    • Registrar to the Issue: Maashitla Securities Pvt.Ltd.
    • Market Maker: Share India Securities Ltd. (Ensuring liquidity post-listing).

    Company Contact Information:

    For official inquiries, the company details are:

    • Address: Plot no. 423, G.I.D.C.-II, Dediyasan, Mehsana, Gujarat, 384002
    • Contact: +91 9974039300
    • Email: cs@greindia.com

    SWOT Analysis for GRE Renew Enertech IPO Assessment

    To provide a balanced view, here is an analysis of the company’s internal capabilities and external environment:

    CategoryFactors
    Strengths (Internal Positives)Experienced management; established O&M support system; focus shifting to high-growth solar segment.
    Weaknesses (Internal Negatives)Potential dependence on securing low-cost capital for the RESCO model; transition away from LED focus.
    Opportunities (External Positives)Strong governmental policy support for renewable energy; increasing corporate demand for solar power solutions.
    Threats (External Negatives)Regulatory changes in the power sector; volatility in raw material prices (modules); intense competition in the EPC space.

    Conclusion: Navigating the GRE Renew Enertech SME Listing

    The GRE Renew Enertech IPO presents a calculated entry point into the solar energy infrastructure space via the SME board. Financially, the company demonstrates growth in top line and impressive profitability metrics like ROE and ROCE, coupled with a very low debt-to-equity ratio, suggesting a fundamentally sound operational base. The capital raised is strategically targeted towards capacity expansion in ground-mounted solar projects, which should fuel further scaling.

    As with any SME offering, potential investors should recognize the higher inherent volatility associated with smaller listings. However, the business model aligns with long-term energy transition themes, offering compelling prospects for those comfortable with the risk profile of the BSE SME segment.