Category: SME IPO

Sunsky Logistics Limited

Unlocking Growth Potential: A Comprehensive Look at the Sunsky Logistics IPO

In the dynamic world of logistics, a new opportunity is on the horizon. Sunsky Logistics Ltd. is gearing up for its Initial Public Offering (IPO), inviting investors to be a part of its journey in the integrated logistics sector. This blog post delves into the specifics of this upcoming SME IPO, examining the company’s profile, financial performance, strategic objectives, and what it could mean for potential investors.

Introducing Sunsky Logistics Ltd.: A Pillar in Integrated Freight

Established in 2020, Sunsky Logistics Ltd. has quickly carved a niche as an integrated logistics solutions provider. The company’s diverse service portfolio includes vital components of the supply chain such as freight forwarding, efficient cargo handling, door-to-door distribution networks, multi-transport operations, and crucial custom clearance services.

Their commitment to comprehensive solutions is underlined by key accreditations:

Obtained a Multimodal Transport Operator (MTO) license in 2021, enabling seamless transportation across rail, air, road, and sea.
A proud member of global networks like World Shipping Alliance (WSA) and Bling Logistics Network Inc (Bling).
Secured the Ocean Transportation Intermediary (OTI) ocean freight certificate from the Federal Maritime Commission (FMC) in 2022.

Sunsky Logistics boasts an international presence, having processed services across various countries including the USA, Uganda, UAE, Oman, Guatemala, Australia, and Iraq during the fiscal year 2025. With a dedicated team, the company focuses on delivering efficient and reliable logistics across multiple verticals.

Core Service Offerings:

Ocean Freight Forwarding
Air Freight Forwarding
Specialized Project Cargo Handling
Expert Custom Clearance
Seamless Door-to-Door Delivery
Reliable Inland Transportation

Key Aspects of the Initial Public Offering

Here’s a quick overview of the essential details surrounding the Sunsky Logistics IPO:

Detail	Information
IPO Type	Fixed Price Issue, SME IPO
Issue Price	₹46 per share
Face Value	₹2 per share
Lot Size	3,000 shares
Total Issue Size	36,60,000 shares (₹16.84 Crores)
Issue Nature	Entirely a Fresh Issue
Listing Exchange	BSE SME

IPO Journey: Key Dates to Remember

Understanding the timeline is crucial for any investor. Here’s a visual representation of the important dates for the Sunsky Logistics IPO:

Opening Bid

Sep 30, 2025

Closing Bid

Oct 3, 2025

Allotment Finalized

Oct 6, 2025

Market Debut

Oct 8, 2025

Note: The allotment for the Sunsky Logistics IPO is expected to be finalized on October 6, 2025, with the shares tentatively listing on BSE SME on October 8, 2025.

Investment Structure and Share Allocation

The IPO has a clearly defined allocation structure to ensure broad participation:

Investor Category	Shares Offered	Percentage
Market Maker	1,86,000	5.08%
Non-Institutional Investors (NII/HNI)	17,28,000	47.21%
Retail Individual Investors (RII)	17,46,000	47.70%
Total Shares Offered	36,60,000	100.00%

Minimum Investment Details:

Investors can apply for a minimum of 3,000 shares (1 lot) and in multiples thereafter.

Investor Category	Minimum Lots	Shares	Amount (₹)
Retail Individual Investor (Min)	2	6,000	2,76,000
High Net-worth Individual (HNI) (Min)	3	9,000	4,14,000

Analyzing Sunsky Logistics’ Financial Performance

A glance at the company’s financial statements reveals a robust growth trajectory, particularly between fiscal years 2024 and 2025.

Financial Metric (₹ Crore)	31 Jul 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	12.31	8.22	5.17	2.76
Total Income	8.45	22.27	14.81	9.38
Profit After Tax (PAT)	1.37	2.59	1.25	0.31
Net Worth	5.90	4.53	1.99	0.74
Total Borrowings	3.93	2.03	1.77	1.13

Sunsky Logistics has demonstrated significant financial momentum. Its revenue surged by 50%, and Profit After Tax (PAT) remarkably increased by 107% between the financial years ending March 31, 2024, and March 31, 2025. This growth signals strong operational efficiency and market presence.

Key Performance Indicators (KPIs) and Valuation Metrics:

As of March 31, 2025, the company’s market capitalization stands at ₹57.20 Crores. Here’s a look at its critical performance indicators:

KPI	Value (as of Mar 31, 2025)
Return on Equity (ROE)	79.42 %
Return on Capital Employed (ROCE)	59.34%
Debt/Equity Ratio	0.45
Return on Net Worth (RoNW)	57.16%
PAT Margin	11.74%
EBITDA Margin	16.81%
Price to Book Value	8.91

Metric	Pre-IPO	Post-IPO
Earnings Per Share (EPS)	₹2.95 (FY25)	₹3.31 (Annualized Jul 2025)
Price-to-Earnings (P/E) Ratio	15.6	13.91

Strategic Use of IPO Proceeds

The funds raised from this IPO are earmarked for strategic initiatives aimed at bolstering the company’s operational capabilities and financial health:

Investment in new assets: A significant portion (₹6.42 Crores) will be utilized for the purchase of Flatbed Trailers, enhancing their transportation fleet and service capacity.
Debt Reduction: ₹3.50 Crores are allocated for the prepayment or repayment of existing outstanding borrowings, which will strengthen the balance sheet.
Working Capital Boost: ₹2.75 Crores will be channeled into meeting working capital requirements, ensuring smooth day-to-day operations and growth initiatives.
General Corporate Purposes: The remaining ₹2.52 Crores will be used for general corporate needs, providing flexibility for future growth and contingencies.

Leadership and Governance

The company is guided by its dedicated promoters, Akash A Shah and Shah Vaibhavi Akash. Their commitment is reflected in the promoter holding structure:

Pre-Issue Promoter Holding: 95%
Post-Issue Promoter Holding: 67.05%

IPO Facilitators:

Book Running Lead Manager: Nirbhay Capital Services Pvt.Ltd.
Registrar to the Issue: Kfin Technologies Ltd.
Market Maker: Rikhav Securities Ltd.

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

A comprehensive evaluation of Sunsky Logistics’ internal and external factors can offer a clearer picture for potential investors.

Strengths:

Integrated Service Portfolio: Offers a wide range of logistics services, from freight forwarding to customs clearance, providing a one-stop solution.
Global Network & Accreditations: Membership in WSA and Bling, along with MTO and OTI licenses, demonstrates a strong global reach and compliance.
Robust Financial Growth: Consistent increase in revenue and significant PAT growth indicate operational efficiency and strong market acceptance.
Experienced Promoters: The promoters’ deep knowledge and expertise in the logistics domain are a key asset.
Diverse Customer Base: Strong relationships with a varied customer base contribute to stable revenue streams.

Weaknesses:

Employee Base Size: A relatively small number of employees (9 as of July 2025) might suggest a high reliance on outsourcing or a lean operational model, which could pose scaling challenges without adequate internal capacity.
Capital Intensive Nature: The logistics sector requires continuous investment in assets, as highlighted by the IPO objective to purchase trailers.
Fixed Price Issue: While simple, a fixed price issue might not fully capture higher demand if investor interest proves exceptional.

Opportunities:

Growing Logistics Market: India’s logistics sector is experiencing significant growth, driven by e-commerce, manufacturing, and infrastructure development.
Expansion Potential: The planned purchase of trailers and capital for working needs opens avenues for expanded service offerings and geographical reach.
Technological Integration: Scope to further integrate technology for optimized route planning, inventory management, and real-time tracking to enhance efficiency.
Diversification of Services: Potential to explore niche logistics segments or add value-added services.

Threats:

Intense Competition: The logistics market is highly fragmented with numerous players, both organized and unorganized.
Economic Volatility: Fluctuations in economic activity, trade policies, and global demand can directly impact logistics volumes.
Fuel Price Fluctuations: Rising fuel costs can significantly impact operational expenses and profit margins.
Regulatory Changes: Evolving government regulations and trade policies can introduce complexities and compliance costs.
Infrastructure Challenges: Despite improvements, infrastructure bottlenecks can still affect delivery times and efficiency.

Final Considerations for Potential Investors

The Sunsky Logistics IPO presents an opportunity to invest in a growing integrated logistics company with a strong track record of financial growth and strategic expansion plans. Its established global network and accreditations position it well within the sector.

As with any investment, it’s crucial for prospective investors to conduct their own thorough due diligence. Assess the company’s financials, future outlook, and the inherent risks associated with the logistics industry and SME IPOs. Consider consulting with a financial advisor to align this investment with your personal financial goals and risk appetite.

Company & Registrar Contact Information

For further inquiries, interested parties may contact:

Sunsky Logistics Ltd.

T.F-316, I Square, Nr. Shukan Mall Cross Road, Sola, Ahmedabad, Gujarat, 380060
Phone: +91-9737166446
Email: cs@sunskylogistics.com

Registrar: Kfin Technologies Ltd.

Phone: 04067162222, 04079611000
Email: sunsky.ipo@kfintech.com

September 28, 2025

Chiraharit Limited

Chiraharit IPO: Charting a Sustainable Investment Path in Green Infrastructure

In the dynamic world of investments, Initial Public Offerings (IPOs) often capture significant attention. When an offering comes from a company dedicated to sustainable solutions, it sparks even greater interest. Chiraharit Ltd., a company with a strong focus on green infrastructure and water management, is set to make its debut on the BSE SME platform. This blog post delves into the specifics of the Chiraharit IPO, offering a comprehensive look at the company’s business, financial health, and the investment opportunity it presents.

About Chiraharit Ltd.: Pioneering Sustainable Solutions

Established in 2006, Chiraharit Limited has carved a niche for itself by delivering innovative solutions across vital sectors, with a core emphasis on sustainability and quality. The company’s expertise lies in executing turnkey Engineering, Procurement, and Construction (EPC) projects, particularly in the burgeoning water and renewable energy domains. They aim to provide efficient, sustainable solutions that address specific project challenges and ensure optimal performance.

Core Service Offerings:

Water Management: From advanced Solar Module Cleaning Systems and comprehensive Irrigation Solutions for agriculture and landscapes, to robust Water Pipeline Solutions for industrial and residential projects. They also supply various piping materials including HDPE, UPVC, CPVC, PVC, and Sprinkler Pipes and Fittings.
Renewable Energy: Specializing in the construction of Compressed Bio-Gas (CBG) plants, providing complete turnkey execution for civil, mechanical, and pumping systems, thereby fostering sustainable energy production.
Construction: Undertaking construction projects for both industrial and residential sectors.

Understanding the Chiraharit IPO: Key Details at a Glance

The upcoming IPO is a fixed-price issue aiming to raise capital through a fresh issuance of shares. Here’s a breakdown of the crucial information for prospective investors:

IPO Offering Structure:

Detail	Specification
Issue Type	Fixed Price Issue (SME IPO)
Total Issue Size	1,47,96,000 shares (aggregating up to ₹31.07 Cr)
Offer Price	₹21 per share
Face Value	₹1 per share
Listing At	BSE SME
Book Running Lead Manager	Finshore Management Services Ltd.
Registrar	Bigshare Services Pvt.Ltd.
Market Maker	Anant Securities

Important Dates and Timeline:

Mark your calendars for these key dates related to the Chiraharit IPO:

Event	Date
IPO Open Date	Monday, September 29, 2025
IPO Close Date	Friday, October 3, 2025
Allotment Finalization (Tentative)	Monday, October 6, 2025
Initiation of Refunds (Tentative)	Tuesday, October 7, 2025
Credit of Shares to Demat (Tentative)	Tuesday, October 7, 2025
Listing Date (Tentative)	Wednesday, October 8, 2025

IPO Journey at a Glance:

Open

Sep 29

Oct 3

Allotment

Oct 6

Listing

Oct 8

The progress bar visually represents the key milestones in the IPO timeline, from the opening of the subscription window to the expected listing date.

Investment Lot Size and Categories:

Investors can subscribe to the IPO in specific lot sizes. The minimum application varies for different investor categories:

Investor Category	Minimum Lots	Shares	Amount (₹)
Retail Individual Investor (Min)	2	12,000	2,52,000
HNI (Min)	3	18,000	3,78,000

The issue has reserved a significant portion for both Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs), ensuring broad participation.

NII (HNI) Shares Offered: 70,26,000 (47.49%)
Retail Shares Offered: 70,26,000 (47.49%)
Market Maker Shares Offered: 7,44,000 (5.03%)

Chiraharit’s Financial Journey: Performance & Valuation

A deep dive into the company’s financials reveals a promising growth trajectory. Chiraharit Ltd. has demonstrated substantial increases in both revenue and profitability in recent years.

Key Financial Highlights (₹ Crore):

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	40.58	25.77	22.71
Total Income	59.80	30.57	33.03
Profit After Tax (PAT)	6.02	0.60	0.42
Net Worth	9.57	3.31	2.57
Total Borrowing	20.22	16.30	15.92

From fiscal year 2024 to 2025, Chiraharit Ltd. experienced an impressive 96% increase in revenue and a phenomenal 898% surge in Profit After Tax (PAT), indicating strong operational performance and growing market penetration.

Key Performance Indicators (KPIs) and Valuation:

Metric (as of Mar 31, 2025)	Value
Market Capitalization	₹115.07 Cr
Return on Equity (ROE)	62.91%
Return on Capital Employed (ROCE)	32.29%
Debt/Equity Ratio	2.11
PAT Margin	10.10%
EBITDA Margin	16.36%
Price to Book Value	8.79
EPS (Pre-IPO)	₹1.51
P/E (Pre-IPO)	13.95x
EPS (Post-IPO)	₹1.10
P/E (Post-IPO)	19.11x

Promoter Holding:

The company is promoted by Mr. Pavan Kumar Bang, Mrs. Tejaswini Yarlagadda, and Mr. Venkata Ramana Reddy Gaggenapalli. Their holding will adjust post-issue:

Promoter Holding Pre-Issue: 100.00%
Promoter Holding Post-Issue: 73%

Capitalizing on Growth: Objectives of the IPO

The primary purpose of the IPO is to fuel Chiraharit Ltd.’s expansion and strengthen its financial position. The net proceeds from the fresh issue will be utilized for several strategic objectives:

Funding Capital Expenditure for a new HDPE Ball Valves and Fittings Manufacturing Unit (₹5.26 Cr).
Repayment and/or pre-payment, in full or part, of certain existing borrowings (₹3.90 Cr).
Meeting working capital requirements (₹14.13 Cr).
Covering issue-related expenses (₹3.11 Cr).
Addressing general corporate expenses (₹4.66 Cr).

Strategic Outlook: A SWOT Analysis of Chiraharit Ltd.

To provide a holistic view, let’s analyze Chiraharit Ltd.’s positioning using a SWOT framework:

Strengths:

Diversified Service Portfolio: Engaged in both water management and renewable energy sectors, reducing reliance on a single segment.
Experienced Management: Promoters and directors possess extensive domain knowledge and industry experience.
Robust Order Book: A strong order book of ₹51.38 crore as of August 31, 2025, provides revenue visibility.
Strong Project Execution: Proven capabilities in delivering complex EPC projects.
Significant Financial Growth: Impressive revenue and PAT growth in the last fiscal year.
Strategic Partnerships: Collaborations that enhance capabilities and ensure excellence in project delivery.
Commitment to Quality: Emphasis on quality assurance and adherence to industry standards.

Weaknesses:

SME Platform Listing: SME IPOs generally carry higher inherent risks due to smaller market capitalization and liquidity compared to mainboard listings.
Debt/Equity Ratio: A Debt/Equity ratio of 2.11 indicates a relatively higher reliance on debt, which could be a concern if not managed effectively.
Dependence on Projects: Revenue generation is project-based, which can lead to fluctuations in income.

Opportunities:

Growing Demand for Green Solutions: Increasing global and national focus on sustainability, water conservation, and renewable energy (e.g., CBG plants) presents vast market opportunities.
Government Initiatives: Supportive government policies and incentives for green infrastructure and renewable energy projects can boost demand.
Expansion Potential: Opportunity to expand service offerings or geographical reach given its expertise.
New Manufacturing Unit: The proposed HDPE Ball Valves and Fittings Manufacturing Unit can enhance vertical integration and cost efficiencies.

Threats:

Intense Competition: Operating in competitive sectors with established players.
Regulatory Changes: Changes in environmental policies or government regulations could impact operations or project feasibility.
Project Execution Risks: Delays or cost overruns in large-scale projects could affect profitability.
Economic Slowdown: General economic downturns could reduce infrastructure spending and project awards.

Participating in the Chiraharit IPO: How to Apply

Applying for an IPO is a straightforward process, primarily done through your stockbroker’s platform. Here’s a general guide:

Online Application: Most brokerage firms offer online IPO application services through their trading platforms or dedicated IPO sections. You can usually apply using either UPI (Unified Payments Interface) for smaller applications or ASBA (Applications Supported by Blocked Amount) through your bank’s net banking portal.
Demat Account: A valid Demat account is essential to hold the shares if allotted.
Minimum Investment: Be aware of the minimum lot size and corresponding investment amount (as detailed in the “Investment Lot Size and Categories” section above) when submitting your bid.
Check Allotment Status: After the IPO closes, you can check the allotment status on the registrar’s website or your broker’s platform on the tentative allotment date.

Important Company and Registrar Information:

Chiraharit Ltd. Contact Details:

Address: Malaxmi Courtyard, Survey No. 157, Khajaguda Village, Chitrapuri Colony Post, Hyderabad, Telangana, 500104
Phone: +91 7738561210
Email: cs@chiraharit.com

IPO Registrar (Bigshare Services Pvt.Ltd.) Contact:

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

Final Thoughts for Potential Investors

The Chiraharit IPO offers an opportunity to invest in a company that operates in high-growth, sustainability-driven sectors. With its robust project execution capabilities, diversified portfolio, and strong financial growth, the company appears well-positioned to capitalize on the increasing demand for green infrastructure and water solutions.

However, like all investments, especially in the SME segment, it comes with its own set of considerations. Investors are encouraged to conduct thorough due diligence, assess their risk appetite, and review the detailed prospectus before making any investment decisions. Understanding the company’s long-term vision and the broader market trends in sustainable development will be key to evaluating this offering.

September 28, 2025

Sodhani Capital Limited

Sodhani Capital IPO: Charting Investment Opportunities in Financial Services

The Indian financial market is buzzing with activity, and a new player is set to make its debut on the BSE SME platform. Sodhani Capital Limited, a financial services firm with a focus on mutual fund distribution, is launching its Initial Public Offering (IPO). This offering presents an intriguing opportunity for investors looking to participate in the growth story of a company rooted in financial advisory and distribution. Let’s delve into the specifics of this upcoming IPO.

About Sodhani Capital Limited: Guiding Financial Futures

Established in 1992, Sodhani Capital Limited has built a strong foundation in the financial services sector. The company primarily specializes in offering financial product distribution services, with a significant emphasis on mutual funds. It caters to a diverse client base, including retail investors and High-Net-Worth Individuals (HNIs), assisting them in achieving their financial objectives.

With a notable presence in Jaipur, Rajasthan, the company blends traditional physical consultations and seminars with modern digital platforms like webinars and online services. This hybrid approach allows them to effectively serve clients not just in metropolitan areas but also in Tier-II and Tier-III cities. Their business model is anchored on three core pillars: unwavering customer focus, leveraging technology, and robust corporate governance. Revenue generation is primarily through distribution commissions from various Asset Management Companies (AMCs).

Key Service Offerings:

**Diverse Mutual Funds:** Providing access to equity, debt, hybrid, and Equity Linked Savings Schemes (ELSS).
**Equity Funds:** Aimed at long-term capital appreciation and growth.
**Debt Funds:** Designed for stability and consistent income.
**Hybrid Funds:** Striking a balance between growth and income for moderate returns.
**ELSS Funds:** Offering attractive tax-saving opportunities under Section 80C.
**Systematic Investment Plans (SIPs):** Encouraging disciplined savings habits for long-term wealth creation.

Initial Public Offering Snapshot

Sodhani Capital’s IPO is structured as a fixed-price issue, aiming to raise capital through both fresh issuance of shares and an offer for sale. Here’s a quick overview of the offering:

Detail	Specification
Issue Type	Fixed Price Issue (SME IPO)
Total Issue Size	₹10.71 Crores
Number of Shares	21,00,000 Equity Shares
Face Value	₹10 per share
Issue Price	₹51 per share
Fresh Issue Component	0.17 Crore shares (₹8.62 Crores)
Offer for Sale (OFS) Component	0.04 Crore shares (₹2.09 Crores)
Listing Platform	BSE SME

Important Dates for Your Calendar

Mark these crucial dates if you are considering participating in the Sodhani Capital IPO. The timeline below highlights the key events from subscription opening to listing.

IPO Open

IPO Close

Allotment

Demat Credit

Listing

Sep 29, 2025

Oct 1, 2025

Oct 3, 2025

Oct 6, 2025

Oct 7, 2025

*Note: The cut-off time for UPI mandate confirmation is 5 PM on Wednesday, October 1, 2025.*

Investment Lot Size & Application Details

For individual investors, understanding the minimum and maximum investment brackets is vital. The Sodhani Capital IPO has specific lot sizes for different investor categories.

Investor Category	Application Lots (Min)	Shares (Min)	Amount (Min)
Individual Investors (Retail)	2	4,000	₹2,04,000
High Net Worth Individuals (HNI)	3	6,000	₹3,06,000

Share Reservation Breakdown:

The total shares offered are strategically reserved for various investor categories to ensure broad participation.

**Market Maker:** 1,06,000 shares (5.05%)
**Non-Institutional Investors (NII/HNI):** 9,97,000 shares (47.48%)
**Retail Individual Investors (RII):** 9,97,000 shares (47.48%)
**Total Shares Offered:** 21,00,000 shares (100.00%)

Decoding Sodhani Capital’s Financial Performance

A look at the company’s recent financial statements provides insights into its operational health and growth trajectory.

Period Ended (March 31)	2025 (₹ Crore)	2024 (₹ Crore)	2023 (₹ Crore)
Assets	7.60	5.36	2.29
Total Income	4.13	3.75	2.48
Profit After Tax (PAT)	2.18	2.21	1.20
EBITDA	3.05	2.92	1.68
Net Worth	7.42	5.23	2.02
Total Borrowing	0.05	0.05	0.07

**Financial Highlights:** Sodhani Capital Ltd. demonstrated a 10% increase in revenue between FY2024 and FY2025. However, the Profit After Tax (PAT) saw a slight dip of 1% during the same period, suggesting either increased operational costs or strategic investments impacting short-term profitability. Assets and Net Worth have shown consistent growth over the three fiscal years presented.

Key Valuation Metrics (KPIs):

As of March 31, 2025, the company’s valuation metrics offer a deeper understanding of its efficiency and financial standing.

Metric	Value
Market Capitalization	₹40.52 Crores
Return on Equity (ROE)	29.45%
Return on Capital Employed (ROCE)	40.47%
Debt/Equity Ratio	0.07
Profit After Tax (PAT) Margin	53.26%
EBITDA Margin	74.41%
Price to Book Value	2.71
Earnings Per Share (Pre-IPO)	₹3.49
P/E Ratio (Pre-IPO)	14.61x
Earnings Per Share (Post-IPO)	₹2.75
P/E Ratio (Post-IPO)	18.55x

These metrics indicate a company with strong profitability (high PAT and EBITDA margins) and efficient use of capital (high ROE and ROCE). A low debt-to-equity ratio signifies a healthy financial structure with minimal reliance on external borrowings.

Promoters and Shareholding Structure

The leadership of Sodhani Capital Limited is spearheaded by Rajesh Kumar Sodhani, Priya Sodhani, Ritika Sodhani, and Aastha Sodhani, who are the company’s promoters. Prior to the IPO, the promoters held 100% of the company’s shares, demonstrating their strong commitment and belief in the business. Post-IPO, their shareholding will dilute as new shares are issued and existing ones are sold through the Offer for Sale component, thereby broadening the ownership base.

Objectives Behind the Public Offering

The capital raised through this IPO will be strategically utilized to fuel Sodhani Capital’s growth and expansion plans. The key objectives of the issue include:

**Office Expansion:** Acquiring new office premises in Mumbai, Maharashtra, to expand geographical reach and operational capacity.
**Brand Enhancement:** Investing in marketing and branding initiatives to increase brand visibility and market presence.
**Technological Advancement:** Developing a dedicated Mutual Fund Investment Application to enhance client experience and digital service delivery.
**IT Infrastructure Upgrade:** Procuring essential Information Technology (hardware and software) infrastructure for both the new Mumbai office and existing operations.
**General Corporate Needs:** Allocating funds for routine corporate requirements and operational flexibility.
**Interior Work:** Funding the interior setup for the proposed Mumbai office premises.

Strategic Outlook: A SWOT Analysis

Understanding the internal and external factors influencing Sodhani Capital’s business environment is crucial.

Strengths:

**Established Network:** Strong relationships with clients, financial advisors, and Asset Management Companies (AMCs), fostering trust and growth.
**Commission-Based Revenue:** A stable income stream derived from both upfront and trail commissions, ensuring recurring revenue.
**Hybrid Business Model:** Effective combination of physical presence and digital platforms, catering to a wide geographical client base including Tier-II and Tier-III cities.
**High Profitability:** Demonstrated strong PAT and EBITDA margins, indicating efficient operations.
**Diversified Fund Offerings:** Comprehensive range of mutual fund products to meet varied investor needs.

Weaknesses:

**Small Team Size:** A relatively compact workforce (15 employees) might limit scalability and rapid expansion without further hiring.
**Slight PAT Decline:** Despite revenue growth, a marginal dip in Profit After Tax (FY24 to FY25) indicates potential pressures on net earnings or increased operational investments.
**Reliance on Commissions:** Business model heavily dependent on distribution commissions, making it susceptible to changes in AMC policies or regulatory frameworks.

Opportunities:

**Market Penetration:** Significant scope to expand market share in under-served Tier-II and Tier-III cities through its hybrid model.
**Digital Adoption:** Increasing digital literacy and adoption of online investment platforms offers a fertile ground for its planned mutual fund investment application.
**Financialization of Savings:** India’s growing economy and increasing awareness about financial planning can drive higher adoption of mutual funds.
**Product Expansion:** Potential to diversify into other financial products or advisory services beyond mutual fund distribution.

Threats:

**Regulatory Changes:** Evolving regulations in the financial services sector, particularly concerning mutual fund distribution, could impact operations and revenue.
**Intense Competition:** Facing competition from larger, established financial institutions, full-service brokers, and emerging fintech startups.
**Market Volatility:** Fluctuations in capital markets can affect investor confidence, leading to lower investments in mutual funds and impacting commission income.
**Economic Slowdown:** Adverse macroeconomic conditions could reduce disposable income and risk appetite, impacting business growth.

How to Participate in the Sodhani Capital IPO

Interested investors can apply for the Sodhani Capital IPO through various online platforms.

**UPI-based Application:** Many popular brokerage platforms allow investors to apply for IPOs using UPI as a payment gateway. Typically, you would log into your broker’s console, navigate to the IPO section, select Sodhani Capital IPO, enter your UPI ID, quantity, and price, and then approve the mandate via your UPI app (e.g., BHIM, Google Pay, banking apps).
**ASBA Application:** Investors can also apply through the ASBA (Application Supported by Blocked Amount) facility available in their bank’s net banking portal. This method ensures that funds remain in your account until allotment.

The allotment for Sodhani Capital IPO is expected to be finalized on October 3, 2025. Following this, shares will be credited to successful applicants’ demat accounts by October 6, 2025, leading up to the tentative listing on October 7, 2025.

Company & Registrar Information

Company Contact Details:

**Address:** 1st floor C-373, C Block, Vaishali Nagar, Jaipur, Rajasthan, 302021
**Phone:** +91 9694875201
**Email:** cs@sodhanicapital.com
**Website:** https://sodhanicapital.com/

IPO Registrar Details:

**Registrar Name:** NSDL Database Management Ltd.
**Phone:** +91 22 2499 4200
**Email:** sunilk@ndml.in
**Website:** https://www.ndml.in/index.php

Concluding Thoughts on Sodhani Capital IPO

Sodhani Capital Limited’s IPO offers a gateway into the thriving Indian financial services sector, particularly its mutual fund distribution segment. With a robust operational history since 1992, a clear growth strategy involving technological enhancement and geographical expansion, and healthy financial metrics, the company presents itself as an interesting proposition. However, potential investors should carefully weigh the opportunities against the competitive landscape and regulatory environment inherent in the financial advisory space. As with any investment, thorough due diligence and consulting with a financial advisor are recommended before making a decision.

September 28, 2025

Vijaypd Ceutical Limited

Charting the Course: A Deep Dive into Vijaypd Ceutical’s Upcoming IPO

The Indian market is abuzz with the impending launch of the Vijaypd Ceutical IPO, set to open its doors to investors in September 2025. This Small and Medium Enterprise (SME) offering presents an opportunity for those looking to invest in the pharmaceutical and consumer goods distribution sector. Let’s unpack the essential details of this upcoming public issue, examining its business, financial standing, and potential market implications.

Important Dates to Watch: Your IPO Timeline

Understanding the key dates is crucial for any potential investor. Here’s a timeline of the Vijaypd Ceutical IPO process:

IPO Journey: Key Dates at a Glance

Opening Bid

Sep 29, 2025

Closing Bid

Oct 1, 2025

Allotment Status

Oct 3, 2025

Demat Credit

Oct 6, 2025

Listing Day

Oct 7, 2025

Understanding the Public Offering

Vijaypd Ceutical Ltd. is launching a fixed price issue, aiming to raise capital through fresh equity.

Detail	Information
Issue Type	Fixed Price IPO
Face Value	₹10 per share
Issue Price	₹35 per share
Total Issue Size	55,00,000 shares (₹19.25 Crores)
Offer for Sale Type	Entirely Fresh Issue
Listing Exchange	NSE SME

Application & Lot Details

Investors can apply in specific lot sizes, with different minimums for retail and High Net-worth Individual (HNI) categories.

Investor Category	Minimum Lots	Shares	Amount (₹)
Retail Individual Investor (Min)	2	8,000	2,80,000
HNI (Min)	3	12,000	4,20,000

Public Offering Allocation

The issue reserves a portion for various investor categories.

Investor Category	Shares Offered	Percentage (%)
Market Maker	2,84,000	5.16%
Non-Institutional Investors (NII)	26,08,000	47.42%
Retail Individual Investors (RII)	26,08,000	47.42%
Total Shares Offered	55,00,000	100.00%

Meet Vijaypd Ceutical Ltd.

Established in October 1971, Vijaypd Ceutical Limited boasts a rich history in the distribution of pharmaceutical products and a diverse array of consumer goods. The company operates as a key intermediary, functioning as representatives, dealers, agents, stockists, suppliers, traders, and packers, providing comprehensive services across its value chain.

Their extensive product portfolio caters to the pharmaceutical, wellness, and Fast-Moving Consumer Goods (FMCG) sectors. This includes a wide range of medicines (injections, tablets, capsules, ointments, etc.), essential vitamins, hormones, enzymes, wellness tonics, diagnostic kits, personal care items (soaps, sanitizers, baby care), ayurvedic formulations, cosmetics, food products, dental care, and crude drugs.

As of March 31, 2025, Vijaypd Ceutical has built a robust distribution network, serving over 2,109 pharmacies, clinics, and nursing homes across four districts, covering 20 distinct locations. The company collaborates with more than 170 healthcare product manufacturers, ensuring access to an impressive inventory of over 19,000 Stock Keeping Units (SKUs). This extensive reach and product variety underscore their commitment to meeting varied customer demands while upholding quality and reliability in pharmaceutical supply. Furthermore, the company proudly holds certifications from FDA, FSSAI, and BMC, highlighting its adherence to stringent industry standards.

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

A thorough SWOT analysis helps in understanding the internal and external factors influencing Vijaypd Ceutical’s business landscape.

Strengths

Extensive Network: Long-standing relationships with over 2,100 clients and 170+ manufacturers across 20 locations.
Diverse Product Portfolio: Offers over 19,000 SKUs covering pharmaceuticals, wellness, and FMCG, reducing reliance on a single product category.
Established Market Presence: Operating since 1971, demonstrating stability and experience in the distribution sector.
Strong Certifications: FDA, FSSAI, and BMC approvals signify adherence to high quality and regulatory standards.
Experienced Management: A seasoned leadership team with a proven track record in execution.
Robust Financial Growth: Significant increases in revenue and profit in recent financial years.

Weaknesses

Dependency on Manufacturers: As a distributor, reliance on third-party manufacturers for product supply can pose risks.
Capital Intensive Expansion: The planned manufacturing plant requires substantial capital expenditure, which could strain resources if not managed efficiently.
Promoter Share Dilution: A noticeable reduction in promoter holding post-issue, which some investors might view with caution.
SME Segment Volatility: Smaller companies listed on SME exchanges can sometimes experience higher price volatility compared to mainboard listings.

Opportunities

Growing Healthcare Market: India’s pharmaceutical and wellness industry continues to expand, driven by rising healthcare awareness and expenditure.
Backward Integration: The new manufacturing plant offers an opportunity for backward integration, enhancing control over the supply chain and potentially improving margins.
Market Expansion: Potential to expand distribution network into new geographies or deepen penetration in existing markets.
Product Diversification: Scope to introduce new specialized products or segments in high-growth areas.

Threats

Intense Competition: Highly fragmented and competitive market with both organized and unorganized players.
Regulatory Changes: The pharmaceutical industry is subject to strict and evolving regulations which could impact operations and profitability.
Supply Chain Disruptions: Vulnerability to external factors impacting logistics, raw material availability, or manufacturing processes.
Pricing Pressure: Constant pressure on margins due to competition and regulatory caps on drug prices.

Purpose of the Public Offering

Vijaypd Ceutical plans to deploy the net proceeds from this IPO towards strategic initiatives designed to bolster its growth and operational capabilities. The key objectives are:

Capital Expenditure for Manufacturing Plant: A significant portion (₹10.83 Crores) is earmarked for the construction of a Pharmaceutical API/Intermediates and Chemicals manufacturing plant and the purchase of machinery in MIDC – Shrirampur, Ahmednagar, Maharashtra. This move signifies a strategic shift towards enhancing control over their supply chain and potentially improving margins by venturing into manufacturing.
Debt Management: Approximately ₹5.10 Crores will be utilized for the repayment or pre-payment of existing company borrowings, strengthening the balance sheet and reducing financial leverage.
General Corporate Purposes: The remaining funds (₹0.74 Crores) will be allocated for general corporate needs, providing flexibility for operational requirements, business development, and other strategic initiatives.

Financial Health Snapshot

A review of Vijaypd Ceutical’s recent financial performance reveals a company on a growth trajectory.

Particulars	FY2025 (₹ Cr)	FY2024 (₹ Cr)	FY2023 (₹ Cr)
Total Assets	57.15	33.27	32.87
Total Income	107.59	54.34	50.59
Profit After Tax (PAT)	4.80	1.65	0.18
EBITDA	8.59	4.87	1.32
Net Worth	32.17	1.00	4.93
Total Borrowing	21.77	30.04	25.56

Between FY2024 and FY2025, the company demonstrated impressive financial acceleration, with revenue surging by 98% and profit after tax (PAT) climbing by a remarkable 191%. This robust growth indicates strong operational efficiency and market demand for its products.

Key Performance Indicators (KPIs)

Essential financial ratios provide further insight into the company’s performance and efficiency as of FY2025.

KPI	Value
Return on Equity (ROE)	28.91%
Return on Capital Employed (ROCE)	17.30%
Debt/Equity Ratio	0.68
Return on Net Worth (RoNW)	14.91%
PAT Margin	4.49%
EBITDA Margin	8.04%

Promoters and Their Stake

The vision and direction of Vijaypd Ceutical are steered by its dedicated promoters: Samit Madhukar Shah, Bhavin Dhirendra Shah, Rahul Dhirendra Shah, Narendra Nagindas Shah, Dina Madhukar Shah, and Hemanti Jitendra Shah. Their collective leadership has guided the company through its journey.

Promoter Holding	Percentage (%)
Pre-Issue	78.30%
Post-Issue	56.25%

Support & Facilitation

Key institutions play a vital role in the smooth execution of the IPO process:

Lead Manager: Smart Horizon Capital Advisors Pvt.Ltd.
Registrar: Kfin Technologies Ltd. (responsible for IPO applications, allotment, and refunds)
Market Maker: Shreni Shares Ltd. (facilitates liquidity post-listing)

Concluding Thoughts: Navigating the Opportunity

The Vijaypd Ceutical IPO presents an interesting proposition within the healthcare and consumer goods distribution space. With a strong track record of growth, a diversified product range, and strategic plans for backward integration into manufacturing, the company appears poised for further expansion. The IPO’s objectives to fund a new manufacturing plant and reduce debt are positive signals for future stability and profitability.

As with any investment, it’s prudent for potential investors to conduct their own diligent research, consider the inherent risks associated with SME listings, and evaluate their investment goals before participating. The robust financial performance and strategic vision outlined by Vijaypd Ceutical suggest a company with potential, but a thorough understanding of all factors is always recommended.

Stay informed and make wise investment choices!

September 28, 2025

Om Metallogic Limited

Om Metallogic IPO: Unveiling Investment Prospects in Metal Recycling

In the dynamic world of Indian capital markets, Initial Public Offerings (IPOs) often capture the attention of investors seeking growth opportunities. As a potential gateway to participating in a company’s journey, understanding the intricate details of an IPO is crucial. This blog post delves into the upcoming Om Metallogic IPO, offering a comprehensive analysis of its business, financial health, and the strategic objectives behind its public offering. Join us as we explore what this metal recycling specialist brings to the table for the investment community.

A Glimpse into Om Metallogic Ltd.: Pioneering Metal Recycling

Established in 2011, Om Metallogic Limited is a key player in the recycling sector, focusing on transforming aluminium-based metal scrap into high-quality aluminium alloys. These alloys, produced in various forms like cubes, ingots, shots, and notch bars, are vital components across numerous industries.

The Business Model: Sustainability Meets Industry Demand

The company’s core operations revolve around the efficient recycling and processing of non-ferrous metals, including aluminium, copper, brass, and zinc. By recovering these metals from industrial scrap and end-of-life products, Om Metallogic provides valuable raw materials, contributing significantly to a circular economy.

State-of-the-art production facilities with an impressive monthly capacity of 800 tons.
Advanced machinery ensures efficient conversion of scrap into premium aluminium ingots.
Strong commitment to quality assurance, meeting rigorous industry standards.
Robust distribution network serving both domestic and international markets.
Manufacturing facility located in Ballabhgarh, Haryana, with a 5,280 Ton per Annum capacity.
As of August 31, 2025, the company boasts a dedicated team of 17 employees.

Diverse Product and Service Portfolio:

Recycled Non-Ferrous Metals: High-quality raw materials from aluminium, copper, brass, and zinc scrap.
Metal Ingots and Alloys: Standardized and custom alloy ingots for automotive, electrical, construction, and manufacturing sectors.
Metal Scrap Processing: Comprehensive services including collection, segregation, cutting, and melting.
Custom Recycling Solutions: Tailored services for industrial clients to manage waste and recover resources.
Sustainable Metal Sourcing: Providing eco-friendly metal alternatives to help clients meet ESG goals.
Logistics & Supply Chain Services: Integrated services for timely and secure delivery of processed metals.

Key Details of the Upcoming Share Offering

The Om Metallogic IPO is a Fixed Price Issue on the BSE SME platform, designed to raise capital through a fresh issue of shares.

Issue at a Glance:

Particular	Detail
IPO Type	SME Fixed Price Issue
Issue Price per Share	₹86.00
Face Value	₹10 per share
Total Issue Size	25,98,400 shares (aggregating up to ₹22.35 Crores)
Sale Type	Entirely a Fresh Issue
Listing Platform	BSE SME
Lead Manager	Corporate Makers Capital Ltd.
Registrar	Skyline Financial Services Pvt.Ltd.
Market Maker	Prabhat Financial Services Ltd.

Crucial Dates for Investors: Navigating the IPO Timeline

Understanding the key dates is essential for any investor planning to participate in the Om Metallogic IPO.

IPO Open Sep 29, 2025

IPO Close Oct 1, 2025

Allotment Finalized Oct 3, 2025

Demat Credit Oct 6, 2025

Listing Date Oct 7, 2025

Note: The above timeline shows the tentative schedule for the IPO process. Dates are subject to change by the company or regulatory bodies.

Investment Tiers and Lot Sizes:

Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereafter. Here’s a breakdown of the minimum and maximum investment for different investor categories:

Investor Category	Application Lots (Min)	Shares (Min)	Amount (Min)
Individual Investors (Retail)	2	3,200	₹2,75,200.00
High Net Worth Individuals (HNI)	3	4,800	₹4,12,800.00

Share Allocation Structure:

The shares are allocated among different investor categories as follows:

Investor Category	Shares Offered	Percentage of Total Issue
Non-Institutional Investors (NII / HNI)	12,33,600	47.48%
Retail Individual Investors (RII)	12,33,600	47.48%
Market Maker	1,31,200	5.05%
Total Shares Offered	25,98,400	100.00%

Financial Health and Growth Trajectory

Om Metallogic Ltd. has demonstrated robust financial growth, showcasing a healthy upward trend in its revenue and profitability over recent financial years.

Recent Performance Snapshot (Amounts in ₹ Crore):

Period Ended	March 31, 2025	March 31, 2024	March 31, 2023
Assets	30.98	25.11	23.33
Total Income	60.41	38.91	37.84
Profit After Tax (PAT)	4.12	2.22	1.10
EBITDA	6.24	3.73	2.42
Net Worth	11.78	7.66	4.87
Total Borrowing	10.35	11.04	11.55

Notably, the company’s revenue surged by 55% and profit after tax (PAT) rose by a remarkable 86% between the fiscal years ending March 31, 2024, and March 31, 2025, highlighting strong operational efficiency and market demand.

Key Performance Metrics (as of March 31, 2025):

A deeper look into the company’s key performance indicators provides further insights into its operational efficiency and valuation.

Key Metric	Value
Return on Equity (ROE)	42.37%
Return on Capital Employed (ROCE)	55.50%
Debt/Equity Ratio	0.88
Return on Net Worth (RoNW)	34.96%
Profit After Tax (PAT) Margin	6.87%
EBITDA Margin	10.40%
Price to Book Value	3.84
Market Capitalization	₹67.62 Crores
Earnings Per Share (Pre-IPO)	₹7.82
P/E Ratio (Pre-IPO)	10.99x
Earnings Per Share (Post-IPO)	₹5.24
P/E Ratio (Post-IPO)	16.42x

Behind the Offering: Purpose and Vision

The capital raised through this IPO is earmarked for strategic initiatives aimed at bolstering Om Metallogic’s growth and operational capabilities.

Utilisation of Funds (Issue Objectives):

The net proceeds from the IPO are proposed to be utilized for the following key objectives:

Financing the modernization and expansion of the existing manufacturing unit (₹2.31 Crores).
Partially funding working capital requirements (₹8.50 Crores).
Repayment or pre-payment of certain company borrowings (₹6.00 Crores).
Meeting general corporate purposes (₹3.33 Crores).

Promoter Commitment:

The promoters, Mr. Manish Sharma and Mrs. Seema Sharma, demonstrate significant stake in the company:

Promoter Holding Pre-Issue: 88.51%
Promoter Holding Post-Issue: 59.26%

Evaluating Om Metallogic: A Strategic Analysis (SWOT)

A SWOT analysis offers a balanced perspective on the company’s internal strengths and weaknesses, alongside external opportunities and threats.

Strengths:

Experienced promoters and skilled workforce driving operations.
Robust in-house manufacturing capabilities supported by advanced technology.
Diversified client base ensuring stable revenue streams.
Strong focus on product quality and continuous innovation.
Impressive financial growth with rising revenues and profits.
Healthy Return on Equity (ROE) and Return on Capital Employed (ROCE).

Weaknesses:

Potential dependence on raw material availability and fluctuating scrap prices.
Scalability challenges inherent to SME operations compared to larger players.
Working capital intensive nature of the recycling business.
Reliance on specific industry sectors for product demand.

Opportunities:

Increasing global and domestic demand for recycled metals driven by ESG initiatives.
Government support and incentives for sustainable industrial practices.
Potential for expanding product portfolio into new alloys or applications.
Growth in automotive and construction sectors demanding lightweight, corrosion-resistant materials.

Threats:

Volatility in commodity prices (aluminium, copper, zinc) impacting profitability.
Intense competition from organized and unorganized players in the metal recycling industry.
Changes in environmental regulations or trade policies.
Economic downturns affecting industrial production and demand for alloys.
Technological disruptions in recycling processes.

Understanding the Application Process

Participating in an IPO has become significantly streamlined. Most investors apply online through their brokerage accounts, leveraging mechanisms like UPI and ASBA.

UPI Application: Many popular discount brokers facilitate IPO applications via UPI, where you link your bank account to your UPI ID and approve the payment mandate. This is a quick and efficient method for retail investors.
ASBA Application: Available through the net banking portal of your bank, ASBA (Application Supported by Blocked Amount) ensures funds are blocked in your account until allotment, not debited immediately. This provides an added layer of security and convenience.
Consult your chosen broker’s platform for specific instructions on applying. Generally, you navigate to the IPO section, select the desired IPO, enter your bid details (quantity and price for fixed-price issues), and confirm your application.

Company and IPO Support Contacts

Corporate Connect:

For direct inquiries regarding Om Metallogic Ltd.:

Address: Kila No. 17, Harfala Road, Village Sikri, Opp. Gopal Jee Milk Plant, Ballabhgarh, Faridabad District, Haryana, 121004
Phone: 0129-2989582
Email: info@ommetallogic.in
Website: http://www.ommetallogic.in/

Issue Management Team:

For queries related to the IPO application and allotment process:

Registrar: Skyline Financial Services Pvt.Ltd.
- Phone: 02228511022
- Email: ipo@skylinerta.com
- Website: https://www.skylinerta.com/ipo.php
Lead Manager: Corporate Makers Capital Ltd.

Final Thoughts: Navigating Your Investment Decision

The Om Metallogic IPO presents an opportunity to invest in a growing company within the vital metal recycling sector. With a strong financial track record, clear objectives for fund utilization, and experienced promoters, the company appears poised for further expansion. However, like all investments, it comes with inherent risks. Prospective investors are encouraged to conduct thorough due diligence, carefully reviewing the company’s prospectus, understanding the industry landscape, and aligning their decision with their personal financial goals and risk tolerance. A well-informed decision is always the cornerstone of successful investing.

September 28, 2025

Suba Hotels Limited

Exploring the Suba Hotels IPO: A Gateway to Hospitality Investment

The Indian hospitality sector is buzzing with activity, and a new opportunity is on the horizon for investors looking to tap into this growth. Suba Hotels Ltd., a prominent name in the mid-market hotel segment, is gearing up for its Initial Public Offering (IPO). This blog post aims to provide a comprehensive analysis of the Suba Hotels IPO, helping you understand its potential and make an informed investment decision.

Navigating the IPO Journey: Key Dates

For any IPO, understanding the timeline is crucial. Here’s a professional representation of the Suba Hotels IPO schedule:

IPO Open

Sep 29, 2025

IPO Close

Oct 1, 2025

Allotment

Oct 3, 2025

Listing

Oct 7, 2025

Unpacking Suba Hotels: A Deep Dive

A Glimpse into the Hospitality Innovator

Suba Hotels Limited, established in 1997, has emerged as a significant player in India’s mid-market hotel segment. Their strategy focuses on offering a diverse range of brands, catering to upscale, upper-midscale, midscale, and economy segments, with a strong presence in tier 2 and tier 3 cities.

**Extensive Portfolio:** As of July 2025, Suba Hotels manages 88 operational hotels with 4,096 rooms across 50 cities.
**Growth Pipeline:** An additional 40 hotels with 1,831 rooms are in the pre-opening phase, indicating robust expansion plans.
**Diversified Model:** The company operates through a mix of owned, managed, revenue-share/lease, and franchised hotels, showcasing a flexible business approach.
**Geographic Focus:** Owned hotels are located in key cities like Ahmedabad, Bhuj, Junagadh, Vadodara (Gujarat), and Pithampur (Madhya Pradesh).

The Investment Window: IPO Details at a Glance

Here’s a breakdown of the essential details concerning the Suba Hotels IPO:

Detail	Information
Issue Type	Book Building IPO (SME)
Face Value	₹10 per share
Price Range	₹105 to ₹111 per share
Issue Size	67,99,200 shares (aggregating up to ₹75.47 Crores)
Fresh Issue	Entirely a fresh issue of shares
Listing At	NSE SME
Market Capitalization	₹269.09 Crores (at upper price band)

Understanding Your Investment: Lot Size & Application

The IPO specifies minimum and maximum application sizes for different investor categories:

Investor Category	Application Lots (Min)	Shares (Min)	Amount (Min)
Individual Investors (Retail)	2	2,400	₹2,66,400
Small High Net-worth Individuals (S-HNI)	3	3,600	₹3,99,600
Big High Net-worth Individuals (B-HNI)	8	9,600	₹10,65,600

Note that for retail investors, the maximum application is typically limited to the minimum HNI investment threshold, preventing over-concentration by a single retail entity.

Financial Health Check: Company Performance

Suba Hotels has demonstrated strong financial growth in recent years, reflecting its expansion and operational efficiency. Here’s a snapshot of its consolidated financial performance:

Period Ended (₹ Crore)	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	123.04	100.07	85.23
Total Revenue	79.98	53.00	35.20
Profit After Tax (PAT)	15.15	8.96	2.78
Net Worth	47.61	32.33	23.46
Total Borrowing	50.23	45.73	46.09

Between FY2024 and FY2025, the company reported a notable 51% increase in revenue and a 69% surge in Profit After Tax (PAT), indicating robust operational momentum.

Key Performance Metrics: A Closer Look

Investors often examine key performance indicators (KPIs) to gauge a company’s efficiency and profitability. As of March 31, 2025, Suba Hotels’ key metrics were:

Metric	Value
Return on Equity (ROE)	31.82%
Return on Capital Employed (ROCE)	35.55%
Debt/Equity Ratio	1.06
PAT Margin	18.94%
EBITDA Margin	29.09%
Price to Book Value	4.07

When considering valuation, the Pre-IPO Earnings Per Share (EPS) stands at ₹8.69, leading to a P/E ratio of 12.78x. Post-IPO, the diluted EPS is projected at ₹6.25, resulting in a P/E of 17.76x. This indicates that the IPO is priced considering future growth prospects.

The Driving Force: Promoters and Objectives

Who’s Behind the Helm?

The promoters of Suba Hotels Ltd. are Click Hotels Private Limited, Mansur Mehta, and Mubeen Mehta. Their vision and leadership have been instrumental in the company’s growth trajectory.

**Pre-Issue Promoter Holding:** 84.69%
**Post-Issue Promoter Holding:** (To be calculated based on equity dilution, which is the difference between pre-issue and post-issue shareholding).

What’s the Capital For?

The net proceeds from the IPO are intended to be utilized for specific growth-oriented objectives:

**Capital Expenditure:** A significant portion (₹53.48 Crores) is earmarked for funding capital expenditure requirements, primarily for the upgradation and last-mile funding of hotel premises. This suggests a focus on enhancing existing properties and completing ongoing projects.
**General Corporate Purposes:** The remaining funds will be allocated towards general corporate purposes, providing the company with flexibility for operational needs, strategic initiatives, and overall business growth.

Navigating the Market: Opportunities and Challenges

Strengths: What Makes Suba Hotels Stand Out?

Suba Hotels boasts several competitive advantages that position it well in the hospitality sector:

**Leading Mid-Market Player:** Recognized as one of India’s largest domestic hotel chains in the mid-scale segment, with a distinct business model.
**Broad Geographical Reach:** Extensive coverage across numerous cities, including a strong footprint in rapidly growing tier 2 and 3 cities.
**Robust Distribution Network:** Established channels for bookings and customer reach.
**Value Creation Expertise:** Proven ability to acquire underperforming hotels and enhance their value through renovation or rebranding.
**Experienced Leadership:** Backed by seasoned promoters and a capable management team.

Weaknesses: Areas to Consider

While strong, potential investors should also be aware of inherent challenges:

**Highly Competitive Industry:** The hospitality sector is fragmented and intensely competitive, with many national and international players.
**Economic Sensitivity:** Hotel occupancy and revenue are susceptible to economic downturns, travel restrictions, and discretionary spending patterns.
**Capital Intensive Business:** Operating and expanding a hotel chain requires substantial ongoing capital investment.
**Reliance on Management:** Continued success relies heavily on the management team’s ability to maintain high service standards and expand efficiently.

Opportunities: Pathways for Growth

The company is well-positioned to capitalize on several market opportunities:

**Growing Domestic Tourism:** India’s rising disposable incomes and increasing domestic travel present a significant growth opportunity.
**Untapped Tier 2 & 3 Cities:** The company’s focus on these markets allows it to penetrate segments with less competition and higher growth potential.
**Strategic Acquisitions:** Continued ability to identify and revitalize underperforming assets.
**Brand Building:** Further strengthening its diverse brand portfolio can enhance market share and pricing power.

Threats: External Factors to Monitor

External factors could impact the company’s performance:

**Economic Slowdown:** A significant economic downturn could adversely affect leisure and business travel.
**New Entrants & Competition:** Increased competition from new domestic and international hotel chains.
**Regulatory Changes:** Evolving government policies related to tourism, land use, or licensing could pose challenges.
**Pandemic-related Disruptions:** Future health crises could once again impact the hospitality sector.

The Application Process: How to Participate

For those interested in applying for the Suba Hotels IPO, the process is streamlined:

**Online Application:** Most investors apply online through their brokerage accounts using either UPI (Unified Payments Interface) as a payment gateway or ASBA (Applications Supported by Blocked Amount) through net banking.
**Broker Platforms:** Popular stockbrokers in India typically facilitate IPO applications directly from their trading platforms or back-office portals. You would log in, navigate to the IPO section, enter your bid details (UPI ID, quantity, price), and then approve the mandate via your UPI app.
**Demat Account:** A valid Demat account is essential for holding the allotted shares.

Key Stakeholders: Registrar and Market Maker

Understanding the intermediaries involved in an IPO provides clarity on the process:

**Book Running Lead Manager:** Unistone Capital Pvt.Ltd.
**Registrar of the Issue:** Bigshare Services Pvt.Ltd. (They are responsible for IPO allotment and managing investor records).
**Market Maker:** NNM Securities Pvt.Ltd. (Market makers provide liquidity for the stock post-listing, especially crucial for SME issues).

Concluding Thoughts: A Potential Opportunity

Suba Hotels Ltd. presents itself as a dynamic player in India’s growing mid-market hospitality sector. With a robust expansion strategy, strong financial performance, and an experienced management team, the company appears poised for continued growth. The IPO offers an opportunity to invest in a sector that is integral to India’s burgeoning domestic tourism and business travel.

While the issue is priced to reflect its recent strong performance and future potential, new investors should exercise due diligence, considering the inherent competitiveness and economic sensitivities of the hospitality industry. For well-informed investors, allocating moderate funds with a medium to long-term investment horizon might be a strategy to consider for this promising SME listing. Always consult with a financial advisor before making investment decisions.

September 28, 2025

Dhillon Freight Carrier Limited

Decoding the Dhillon Freight Carrier IPO: Your Comprehensive Guide

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Decoding the Dhillon Freight Carrier IPO: Your Comprehensive Guide

The Indian stock market is buzzing with activity, especially in the Small and Medium Enterprises (SME) segment. These IPOs offer unique opportunities for investors to participate in the growth stories of emerging companies. Today, we’re diving deep into the upcoming Dhillon Freight Carrier IPO, a logistics solution provider that’s set to list on the BSE SME platform. If you’re considering an investment, this guide will provide you with all the crucial details to make an informed decision.

Unveiling Dhillon Freight Carrier Ltd.: The Company Behind the IPO

Dhillon Freight Carrier Ltd. is a prominent player in the logistics sector, specializing in comprehensive road transportation services. They offer a diverse portfolio, including parcel/less than truck-load (LTL) services, robust contract logistics, and flexible fleet rental/leasing solutions.

The company’s operational footprint spans across key Indian states like West Bengal, Bihar, Delhi, and Uttar Pradesh, serving a broad spectrum of both B2B (business-to-business) and B2C (business-to-consumer) clientele. With an impressive in-house fleet of 62 vehicles and a sprawling network of 22 booking offices, pickup facilities, warehouses, and delivery points, Dhillon Freight Carrier demonstrates a strong operational backbone in the competitive logistics landscape.

Key Strengths:

**Diverse Service Offerings:** From LTL to contract logistics, catering to varied client needs.
**Broad Customer Base:** Serving industries such as Apparel, engineering goods, electrical hardware, footwear, and paints.
**Robust Fleet:** Ownership of 62 vehicles ensures operational control and reliability.
**Modern Approach:** A focus on a young and modern fleet, including electric three-wheelers, indicates a forward-looking and sustainable strategy.

Understanding the Dhillon Freight Carrier IPO

This public offering from Dhillon Freight Carrier Ltd. is a fixed-price issue designed to raise capital for strategic growth initiatives. Here’s a snapshot of the IPO specifics:

Detail	Specification
Issue Type	Fixed Price Issue
Total Issue Size	₹10.08 Crores
Number of Shares Offered	14,00,000 Equity Shares
Face Value	₹10 per share
Issue Price	₹72 per share
Listing At	BSE SME
Lead Manager	Finshore Management Services Ltd.
Registrar	Kfin Technologies Ltd.
Market Maker	Anant Securities

Navigating the IPO Journey: Key Dates

Staying informed about the IPO timeline is crucial for potential investors. Here’s a tentative schedule for the Dhillon Freight Carrier IPO:

IPO Open

Sep 29, 2025

IPO Close

Oct 1, 2025

Allotment Finalization

Oct 3, 2025

Tentative Listing

Oct 7, 2025

*Dates are tentative and subject to change.

Investment Demographics: Lot Size and Application

The Dhillon Freight Carrier IPO allows investors to apply in specific lot sizes. Understanding these details is key for planning your investment:

Investor Category	Minimum Lots	Minimum Shares	Minimum Investment Amount
Individual Retail Investor	2	3,200	₹2,30,400
High Net-worth Individual (HNI)	3	4,800	₹3,45,600

The minimum application for retail investors is ₹2,30,400 for 3,200 shares, while HNIs need to invest at least ₹3,45,600 for 4,800 shares.

The total issue of 14,00,000 shares is strategically distributed among different investor categories:

Investor Category	Shares Offered	Percentage (%)
Market Maker	70,400	5.03%
Non-Institutional Investors (NII/HNI)	6,65,600	47.54%
Retail Individual Investors (RII)	6,64,000	47.43%
Total Shares Offered	14,00,000	100.00%

Promoter’s Stake: Pre & Post IPO

The promoters of Dhillon Freight Carrier Ltd. are Mr. Karan Singh Dhillon, Mr. Karamveer Singh Dhillon, and Mrs. Joyce Singh Dhillon. Their commitment to the company is reflected in their significant shareholding:

**Promoter Holding Pre-Issue:** 100%
**Promoter Holding Post-Issue:** 64.29%

The reduction in promoter holding post-issue is a result of the fresh issuance of shares to the public, which dilutes their overall stake.

Financial Health Check

A look at the company’s financial journey reveals a growing trajectory. Between March 31, 2024, and March 31, 2025, Dhillon Freight Carrier Ltd. demonstrated commendable growth:

**Revenue** increased by 2%.
**Profit After Tax (PAT)** significantly rose by 58%.

Here’s a detailed financial breakdown (amounts in ₹ Crore):

Period Ended	March 31, 2025	March 31, 2024	March 31, 2023
Assets	9.71	9.16	6.78
Total Income	25.22	24.73	29.91
Profit After Tax (PAT)	1.73	1.09	0.36
EBITDA	3.67	3.31	1.74
Net Worth	5.23	3.50	1.50
Reserves and Surplus	2.71	0.98	1.33
Total Borrowing	3.34	4.80	4.39

Key Financial Metrics at a Glance (as of March 31, 2025)

These metrics provide deeper insights into the company’s operational efficiency and valuation:

Metric	Value
Market Capitalization	₹28.22 Crores
Return on Equity (ROE)	39.65%
Return on Capital Employed (ROCE)	31.77%
Debt/Equity Ratio	0.64
Return on Net Worth (RoNW)	33.09%
PAT Margin	6.99%
EBITDA Margin	14.84%
Price to Book Value	3.47
Earnings Per Share (EPS) Pre-IPO	₹6.86
Earnings Per Share (EPS) Post-IPO	₹4.41
P/E Ratio Pre-IPO	10.49x
P/E Ratio Post-IPO	16.32x

Purpose of the Public Offering

The net proceeds from the Dhillon Freight Carrier IPO are earmarked for strategic investments aimed at bolstering the company’s operational capabilities and facilitating future growth. The key objectives include:

**Acquisition of Transportation Vehicles:** A significant portion of the funds will be utilized for purchasing new goods transportation vehicles and their necessary fabrication, expanding the company’s fleet and capacity.
**General Corporate Purposes:** The remaining funds will be allocated towards general corporate expenses, supporting day-to-day operations, working capital needs, and other strategic requirements.

A Prudent Look: Analyzing the Investment Opportunity (SWOT Analysis)

Before making any investment decision, it’s wise to conduct a thorough analysis. Here’s a SWOT assessment for Dhillon Freight Carrier Ltd., based on the provided data and general industry insights:

Strengths (Internal Positives):

**Established Presence & Network:** A strong network of 22 offices and operational presence across four key states.
**Diverse Service Portfolio:** Offering LTL, contract logistics, and fleet services caters to a wide market.
**Owned Fleet:** Owning 62 vehicles provides better control over operations, costs, and quality compared to relying solely on third-party logistics.
**Consistent Financial Growth:** Demonstrated growth in revenue and significant rise in PAT, indicating efficient operations and profitability.
**Focus on Modernization:** Adoption of electric three-wheelers shows a forward-thinking approach towards sustainability and potentially lower operating costs.

Weaknesses (Internal Negatives):

**Regional Concentration:** Operations primarily focused on four states might limit growth beyond these regions without significant expansion efforts.
**Competition Intensity:** The logistics sector is highly competitive with numerous organized and unorganized players.
**Capital Intensive:** Purchasing new vehicles and maintaining a fleet requires substantial capital expenditure.

Opportunities (External Positives):

**Growing Logistics Sector:** India’s logistics industry is poised for significant growth driven by e-commerce boom, infrastructure development, and manufacturing expansion.
**Technology Adoption:** Scope to further integrate technology (e.g., IoT, AI for route optimization, warehouse management) to enhance efficiency and customer experience.
**Expansion into New Geographies/Segments:** Potential to expand services to new regions or specialized logistics segments.
**Government Initiatives:** Favorable government policies and infrastructure projects (e.g., National Logistics Policy, Bharatmala Pariyojana) can boost the sector.

Threats (External Negatives):

**Fuel Price Volatility:** Significant fluctuations in fuel prices can directly impact operating costs and profitability.
**Economic Slowdown:** A general economic downturn can reduce freight volumes, affecting revenue.
**Regulatory Changes:** New regulations in transportation or environmental policies could increase compliance costs.
**Intensified Competition:** Growing competition from larger, more established players or new entrants.

Your IPO Questions Answered

Here are some frequently asked questions about applying for IPOs, particularly through popular brokerage platforms:

How to Apply for Dhillon Freight Carrier IPO?

You can apply online using either UPI (Unified Payments Interface) or ASBA (Application Supported by Blocked Amount) as a payment method. ASBA is typically available through the net banking portal of your bank account. UPI IPO applications are offered by most online stockbrokers.

For instance, if you’re a customer of a prominent discount broker, you can usually apply through their online platform:

Log in to your broker’s platform (e.g., Console for Zerodha, or their respective IPO sections).
Navigate to the ‘IPOs’ section.
Find the ‘Dhillon Freight Carrier IPO’ and click to bid.
Enter your UPI ID, the desired quantity of shares (in multiples of the lot size), and the price.
Submit your application.
Finally, approve the mandate request that appears on your UPI app (like BHIM, Google Pay, PhonePe, or your bank’s UPI app).

When Will Dhillon Freight Carrier IPO Allotment Be Finalized?

The finalization of the Basis of Allotment for Dhillon Freight Carrier IPO is tentatively scheduled for **Friday, October 3, 2025**. The allotted shares are expected to be credited to your demat account by **Monday, October 6, 2025**.

When is the Dhillon Freight Carrier IPO Listing Date?

The tentative listing date for the Dhillon Freight Carrier IPO on the BSE SME platform is **Tuesday, October 7, 2025**.

Company and Registrar Information

Dhillon Freight Carrier Ltd. Contact Details:

Chatterjee International Building,
33A Jawaharlal Nehru Road,
20th Floor, Suite No. A03, Middleton Row,
Kolkata, West Bengal, 700071
Phone: +91 99031 30247
Email: cs@dfclogistics.in
Website: www.dfclogistics.in

IPO Registrar:

Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: dfc.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/

Conclusion

The Dhillon Freight Carrier IPO presents an opportunity to invest in a growing logistics company with a clear business model and a commitment to modernization. With solid financial growth, strategic utilization of IPO proceeds, and a diversified service portfolio, the company appears well-positioned in India’s expanding logistics sector. However, like all investments, it comes with its inherent risks, especially as an SME listing. Potential investors are encouraged to conduct their own diligent research, consider the company’s fundamentals, the sector’s outlook, and their personal risk appetite before making an investment decision.

September 28, 2025

M P K Steels (I) Ltd. IPO

Forging Ahead: A Detailed Look at the M P K Steels IPO

Discover investment opportunities in the robust steel manufacturing sector with M P K Steels (I) Limited.

Introduction: Steeling Your Investment Horizon

The Indian primary market is buzzing, and among the recent offerings is the M P K Steels (I) Limited IPO, poised to make its debut on the BSE SME platform. For investors eyeing the growth potential within the infrastructure and manufacturing sectors, understanding the nuances of this issue is crucial. M P K Steels, a player in structural steel products, is looking to raise capital to fuel its expansion and operational needs. Let’s delve into what this steel producer brings to the table and what potential investors should consider.

M P K Steels: A Glimpse into the Core Business

Established in 2005, M P K Steels (I) Limited has carved a niche in the manufacturing and trading of structural steel products. The company caters to a diverse range of industries, including railways, telecom, power, automotive, construction, and infrastructure development. Their commitment to quality ensures they deliver robust solutions for critical applications.

Key Product Offerings:

M.S. Channels: Essential for strong frames in industrial sheds, machinery, material handling equipment, vehicle chassis, railway bridges, and general versatile applications.
M.S. Angles: Widely used for supporting building frames, bridges, roof trusses, heavy machinery, security barriers, and railway infrastructure.
M.S. Flats: Employed in custom metalwork, welding, heavy-duty racks, furniture, gates, fencing, structural reinforcement, and architectural designs.

Strategically located in Jaipur, the company benefits from strong market connectivity, supported by a skilled workforce comprising engineers and other professionals. Their distribution network spans across several Indian states, including Rajasthan, Punjab, West Bengal, Gujarat, Haryana, Uttar Pradesh, Assam, and Madhya Pradesh.

Competitive Edge:

Efficient Operations: Dual plant operations housed at a single location, optimizing synergy.
Product Versatility: An extensive range of dies allows for diverse steel measurement and customization.
Market Standing: A strong brand presence coupled with enduring client relationships.
Quality Focus: Adherence to rigorous quality assurance and control protocols.

Navigating the IPO Landscape: Key Dates and Details

Understanding the timeline and basic details of an IPO is the first step for any prospective investor. Here’s a snapshot of the M P K Steels IPO:

Your IPO Journey Tracker

Open: Sep 26 Close: Sep 30 Allotment: Oct 1 Listing: Oct 6

**IPO Core Information**
Aspect	Detail
Issue Type	Book Building SME IPO
Offer Price Band	₹75 to ₹79 per share
Face Value	₹10 per share
Total Issue Size	32,58,000 shares (aggregating up to ₹25.74 Cr)
Issue Component	Entirely a Fresh Issue
Listing At	BSE SME
Lead Manager	Gretex Corporate Services Ltd.
Registrar	Maashitla Securities Pvt.Ltd.

Investment Lot & Retail Allocation:

The IPO lot size for M P K Steels is set at 1,500 shares. This means investors must bid for a minimum of 1,500 shares and in multiples thereof.

**Minimum & Maximum Investment Snapshot**
Investor Type	Application Lots (Min)	Shares (Min)	Amount (Min, at ₹79)
Retail Individual Investor (RII)	2	3,000	₹2,37,000
S-HNI (< ₹10L)	3	4,500	₹3,55,500
B-HNI (> ₹10L)	9	13,500	₹10,66,500

Share Reservation Details:

The issue allocates shares across various investor categories:

Market Maker: 1,63,500 shares (5.02%)
Qualified Institutional Buyers (QIB): 1,50,400 shares (4.62%)
Non-Institutional Investors (NII/HNI): 9,30,900 shares (28.58%), split into:
- bNII (> ₹10L): 6,20,500 shares (19.05%)
- sNII (< ₹10L): 3,10,400 shares (9.53%)
Retail Individual Investors (RII): 20,12,800 shares (61.79%)

*Note: There is no specific mention of Anchor Investors in the provided data.*

Financial Fortitude: Analyzing M P K Steels’ Performance

A glance at the company’s financial statements provides insight into its health and growth trajectory. M P K Steels has demonstrated positive financial growth in recent years.

**Key Financial Highlights (₹ Crore, Restated)**
Metric	FY 2025	FY 2024	FY 2023
Total Assets	62.36	56.64	45.67
Total Income	208.03	189.17	138.85
Profit After Tax (PAT)	6.05	3.11	1.81
EBITDA	8.69	3.28	1.91
Net Worth	24.23	18.18	15.07
Total Borrowing	18.48	13.94	14.54

The company witnessed a 10% increase in revenue and a substantial 95% surge in Profit After Tax (PAT) between the financial years ending March 31, 2024, and March 31, 2025. This indicates strong operational performance and profitability improvement.

Key Performance Indicators (KPIs) & Valuation:

As of March 31, 2025, the company’s market capitalization stands at ₹80.43 Crores. Below are some crucial performance metrics and valuation ratios (at the upper price band of ₹79):

Return on Equity (ROE): 28.55%
Return on Capital Employed (ROCE): 19.32%
Debt/Equity Ratio: 0.76
Return on Net Worth (RoNW): 24.98%
PAT Margin: 2.93%
EBITDA Margin: 4.21%
Price to Book Value: 2.26

**Earnings & Valuation Ratios**
Metric	Pre-IPO	Post-IPO
Earnings Per Share (EPS)	₹8.74	₹5.95
Price-to-Earnings (P/E) Ratio	9.04x	13.29x

The post-IPO EPS reflects the dilution from the fresh issue of shares, leading to a higher P/E ratio post-listing, which is a common occurrence in fresh issues.

Promoters and Capital Utilization

The company is promoted by a group of individuals and HUFs, including Manoj Upadhyay, Suresh Kumar Sharma, Nidhi Upadhyay, Santosh Devi Sharma, M/s. Suresh Kumar Sharma and Sons HUF, and M/s. Manoj Kumar Upadhyay HUF. Their pre-issue shareholding stands at a significant 97.82%.

Post-issue, with the fresh issuance of shares, the promoter holding is estimated to dilute to approximately 67.99% (assuming no promoters sell their shares and only dilution occurs due to the fresh issue), reflecting the broadening of the ownership base.

Purpose of the IPO Funds:

The net proceeds from the IPO are intended for crucial growth initiatives:

Capital Expenditure: Allocation of ₹2.65 crores for purchasing new machinery and dies to enhance production capabilities.
Sustainable Investment: An investment of ₹7.00 crores towards installing a solar plant, highlighting a commitment to renewable energy and operational efficiency.
Working Capital: ₹9.18 crores earmarked to meet the company’s working capital requirements, ensuring smooth day-to-day operations.
General Corporate Purposes: Funds for various strategic and operational needs not specifically allocated elsewhere.

Strategic Assessment: SWOT Analysis for M P K Steels

A balanced perspective on the company’s internal and external factors can aid investment decisions:

Strengths:

Strong manufacturing capabilities with dual plant operations at a single site.
Extensive product range supported by a wide array of dies.
Established brand reputation and strong, long-term customer relationships.
Consistent financial growth with significant increase in PAT and total income.
Healthy profitability ratios (ROE, ROCE, RoNW) as of FY25.

Weaknesses:

Potential dependency on M.S. Channels as a primary revenue driver.
SME listing entails potentially higher liquidity risk and greater price volatility compared to mainboard IPOs.
High minimum investment for retail investors might limit broader participation.

Opportunities:

Growing demand from India’s expanding infrastructure, construction, and manufacturing sectors.
Leveraging fresh capital for technological upgrades (new machinery) and sustainable practices (solar plant).
Potential to expand market reach beyond the existing distribution network.
Increasing government focus on ‘Make in India’ and local manufacturing.

Threats:

Volatility in raw material (steel) prices could impact profitability.
Intense competition from organized and unorganized players in the steel products market.
Economic downturns or slowdowns in key client industries (construction, automotive) could affect demand.
Regulatory changes in the steel industry or environmental policies.

Engaging with M P K Steels: Contact & Registrar Information

For any inquiries related to the company or the IPO, here are the relevant contact details:

Company Contact Details:

Address: House No. 87, Rajgarh Road, Silpukhuri, Kamrup, GMC, Kamrup, Assam, 781003
Phone: +91 86960 00318
Email: info@mpksteels.com

IPO Registrar Details:

Name: Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com

Conclusion: A Steel-Solid Opportunity?

The M P K Steels (I) Limited IPO presents an opportunity to participate in a company with a decade-long presence in the structural steel products market, demonstrating consistent revenue and profit growth. The fresh issue aims to bolster its manufacturing capabilities and embrace sustainable practices, aligning with broader industry trends. While the SME platform offers unique growth avenues, investors should carefully weigh the company’s financials, management, industry outlook, and the inherent risks associated with such listings. A thorough due diligence, including a review of the detailed prospectus, is always recommended before making an investment decision.

Happy Investing!

September 26, 2025

KVS Castings Limited

Unlocking Potential: A Deep Dive into KVS Castings Ltd. SME IPO

Unlocking Potential: KVS Castings Ltd. Gears Up for its SME IPO

The Indian stock market is buzzing with activity, and a fresh opportunity is on the horizon for investors interested in the manufacturing sector. KVS Castings Ltd., a prominent player in specialized metal castings, is set to launch its Initial Public Offering (IPO) on the SME platform. This offering presents a chance to invest in a company with a robust product portfolio and a focus on essential industrial components. Let’s delve into the details of this upcoming IPO and what it could mean for prospective investors.

About the Enterprise: KVS Castings Ltd.

Established in 2005, KVS Castings Limited has carved a niche for itself in the manufacturing of high-quality cast iron, SG iron, alloy steel, and stainless steel castings. The company’s expertise lies in producing critical components that serve a diverse range of sectors including automobile, locomotive, and general engineering. Their commitment to innovation and strict adherence to quality standards position them as a reliable supplier in a competitive market.

With an extensive product portfolio comprising over 150 items, KVS Castings offers comprehensive casting solutions. Their offerings range from suspension brackets and brake drums for the automotive industry to gearbox housings and pump bodies. This broad spectrum demonstrates their capability to handle various material specifications and complex designs, catering to client-specific needs.

Key Product Highlights:

Gear Shifter: A vital part of the gear transmission system in two-wheelers.
Compressor Front Housing: An integral cover housing used in passenger car air conditioning systems.
Lever Shift: A critical component for gear shifting in passenger car transmission systems.
Oil Filter: An assembly part of the oil filtration system designed for passenger cars.
Ace Brake Drum: The rear brake drum used in the braking system of light commercial vehicles.

Foundational Figures: Promoters

The company is steered by its dedicated promoters: Mr. Arpan Jindal, Mr. Devendra Kumar Agarwal, Ms. Rekha Agarwal, Ms. Venu Jindal, and M/s Kumaun Garhwal Infrastructural Industrial Corporation Private Limited. Their collective vision and leadership have been instrumental in KVS Castings’ journey and growth.

Key Highlights of the KVS Castings Offering

The KVS Castings IPO is a book-built issue valued at ₹27.83 crores, consisting entirely of a fresh issue of 0.50 crore new equity shares. This fresh capital infusion aims to bolster the company’s growth initiatives. Here are the crucial details for potential investors:

Detail	Specification
IPO Opening Date	September 26, 2025
IPO Closing Date	September 30, 2025
Face Value	₹10 per share
Issue Price Band	₹53 to ₹56 per share
Minimum Lot Size	2,000 Shares
Issue Type	Bookbuilding IPO
Listing Exchange	BSE SME
Total Issue Size	49,70,000 shares (aggregating up to ₹27.83 Cr)
Net Offer to Public	47,16,000 shares (aggregating up to ₹26.41 Cr)

Share Allocation Structure

The offering is strategically divided among various investor categories to ensure broad participation:

Investor Category	Shares Offered	Percentage of Total Issue
Market Maker Reservation	2,54,000	5.11%
Qualified Institutional Buyers (QIB)	23,52,000	–
Non-Institutional Investors (NII / HNI)	7,08,000	14.25%
Retail Individual Investors (RII)	16,56,000	33.32%
Total Shares Offered	49,70,000	100.00%

Investment Lot Details

Investors can subscribe to the KVS Castings IPO in specific lot sizes. Below are the minimum and maximum investment amounts for different investor categories:

Investor Type	Lots	Shares	Amount (at upper price band)
Individual Retail Investor (Min)	2	4,000	₹2,24,000
Individual Retail Investor (Max)	2	4,000	₹2,24,000
S-HNI (Min)	3	6,000	₹3,36,000
S-HNI (Max)	8	16,000	₹8,96,000
B-HNI (Min)	9	18,000	₹10,08,000

Promoter’s Stake

The promoters currently hold a significant stake in KVS Castings Ltd., demonstrating their confidence in the company’s future. Post-issue, their holding will reflect the dilution from the fresh equity issuance:

Promoter Holding Pre-Issue: 96.55%
Promoter Holding Post-Issue: 70.96%

Navigating the IPO Journey: Important Dates

Staying informed about the timeline is crucial for any IPO investor. Here’s a tentative schedule for the KVS Castings IPO:

Application Period Sep 26 – Sep 30, 2025

Allotment Finalization Oct 1, 2025

Refunds & Demat Credit Oct 3, 2025

Listing Day Oct 6, 2025

Please note that all dates are tentative and subject to change. It’s always advisable to verify the latest information from official sources.

Vision for Growth: Utilizing the IPO Proceeds

The funds raised through this IPO are earmarked for strategic investments crucial for the company’s expansion and operational efficiency:

Capital Expenditures: A significant portion, ₹21.50 crores, is allocated for capital expenditures, indicating plans for enhancing manufacturing capabilities, upgrading technology, or expanding production capacity.
General Corporate Purposes: The remaining funds will be utilized for general corporate needs, which could include working capital requirements, business development activities, or other strategic initiatives.

Financial Performance at a Glance

An examination of KVS Castings Ltd.’s financial statements reveals a dynamic growth trajectory, particularly in profitability. While revenue saw a slight dip, the company significantly improved its profit margins.

Period Ended	31 Mar 2025 (₹ Cr)	31 Mar 2024 (₹ Cr)	31 Mar 2023 (₹ Cr)
Total Assets	47.75	31.35	32.01
Total Income	50.43	54.70	57.61
Profit After Tax (PAT)	6.63	5.95	-1.60
EBITDA	9.84	9.00	7.51
Net Worth	34.45	25.79	19.83
Total Borrowing	3.72	0.58	4.98

Between March 31, 2024, and March 31, 2025, the company’s revenue decreased by 8%, while its profit after tax (PAT) remarkably rose by 11%. This suggests enhanced operational efficiency and cost management strategies.

Driving Value: Key Performance Metrics

Understanding the company’s efficiency and valuation ratios is crucial for a complete picture. As of March 31, 2025, KVS Castings boasts a market capitalization of ₹105.02 Crores, with the following key performance indicators:

Key Metric	Value (as of Mar 31, 2025)
Return on Equity (ROE)	19.37%
Return on Capital Employed (ROCE)	26.30%
Debt/Equity Ratio	0.11
Return on Net Worth (RoNW)	19.37%
PAT Margin	13.32%
EBITDA Margin	19.65%
Price to Book Value	2.89

Valuation Insights:

Metric	Pre-IPO	Post-IPO
Earnings Per Share (EPS)	₹4.81	₹3.53
Price/Earnings (P/E) Ratio (x)	11.65	15.85

The Pre-IPO EPS is calculated based on pre-issue shareholding and the latest FY earnings. The Post-IPO EPS considers the post-issue shareholding and annualized FY earnings.

Strategic Landscape: A SWOT Perspective

A comprehensive analysis of KVS Castings Ltd. reveals several internal strengths and weaknesses, alongside external opportunities and threats:

Strengths:

Diversified Customer Base: Catering to multiple sectors like automotive, locomotive, and engineering reduces reliance on any single industry.
Broad Product Portfolio: Over 150 products, from cast iron to stainless steel components, showcasing versatility and depth of manufacturing capability.
Strategic Location: Being located in an industrial estate can provide logistical advantages and access to raw materials and skilled labor.
In-House Tool and Pattern Making: This capability offers greater control over quality, reduces lead times, and can lead to cost efficiencies.
Dedicated Workforce: A team of 121 permanent employees suggests a stable and experienced operational base.
Improved Profitability: Despite a revenue dip, the significant rise in PAT indicates strong operational management and cost control.

Weaknesses:

Revenue Fluctuation: An 8% decrease in revenue from FY24 to FY25 might raise concerns about demand consistency or market competitiveness, requiring deeper investigation.
SME Platform Listing: While offering growth opportunities, SME platforms generally have lower liquidity compared to main boards, which might affect investor exit options.
Reliance on Specific Sectors: Despite diversification, performance is still linked to the health of the automobile and locomotive sectors, making it susceptible to industry downturns.

Opportunities:

Growing Manufacturing Sector: India’s ‘Make in India’ initiative and infrastructure push could drive demand for precision castings.
Export Potential: High-quality castings can find markets internationally, expanding the company’s reach.
Technological Upgrades: Utilizing IPO proceeds for capital expenditure allows for adoption of advanced manufacturing technologies, enhancing efficiency and product quality.
Increased Automation: Further automation can reduce labor costs and increase production consistency.

Threats:

Raw Material Price Volatility: Fluctuations in prices of metals like iron and steel can impact production costs and profit margins.
Intense Competition: The castings industry is competitive, with both domestic and international players.
Economic Slowdowns: Downturns in the automotive or infrastructure sectors could directly impact demand for the company’s products.
Regulatory Changes: Evolving environmental regulations or trade policies could impose additional costs or operational restrictions.

Navigating the Application Process

Applying for the KVS Castings IPO is straightforward, typically involving online platforms provided by your stockbroker or bank. Most brokers offer a seamless process via their online portals or mobile applications.

Investors usually have two primary methods for application:

UPI-based Application: Many discount brokers facilitate IPO applications through UPI, where you submit your bid and approve a mandate via your UPI app (like BHIM or bank apps).
ASBA (Applications Supported by Blocked Amount): This method is commonly offered by banks through their net banking portals. Your application amount is blocked in your bank account but not debited until allotment is finalized.

After the IPO closes and the allotment process begins, you can typically check your allotment status on the registrar’s website or through your broker’s portal. The shares, if allotted, will be credited to your demat account before the tentative listing date.

Connecting with KVS Castings

For further inquiries or information directly from the company:

Address: B-25, 29, Industrial Estate Bazpur Road, Udham Singh Nagar, Kashipur, Uttarakhand, 244713
Phone: +91 7535910007
Email: cs.kcpl@kvspremier.com
Website: https://kvscastings.com/

IPO Registrar Information

The registrar for the KVS Castings IPO is responsible for managing the application and allotment process:

Registrar: Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: compliances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php

Concluding Thoughts

The KVS Castings Ltd. SME IPO offers an intriguing proposition for investors looking to tap into India’s growing manufacturing sector. With a strong foundation, diversified product range, and a clear vision for utilizing fresh capital for growth, the company presents a compelling narrative.

However, as with any investment, a thorough due diligence process is essential. Prospective investors should carefully evaluate the company’s financials, management quality, industry outlook, and the inherent risks associated with SME IPOs, including market liquidity and potential volatility. Understanding these factors will enable you to make an informed decision aligned with your investment goals.

September 24, 2025

Rukmani Devi Garg Agro Impex Limited

Exploring Rukmani Devi Garg Agro Impex Ltd.’s Upcoming SME IPO

Unveiling the Opportunity: Rukmani Devi Garg Agro Impex Ltd. IPO

In the dynamic landscape of India’s capital markets, SME IPOs are increasingly drawing attention from investors seeking high-growth opportunities. Among the latest entries is Rukmani Devi Garg Agro Impex Ltd., an established player in the agro-processing sector, which is set to launch its Initial Public Offering on the BSE SME platform. This deep dive will explore the company’s business, financial health, and the specifics of its upcoming public offering, helping you make an informed investment decision.

Navigating the Public Offering: Key Details

Rukmani Devi Garg Agro Impex Ltd.’s public offering presents an opportunity to invest in a company with a strong foundation in the agricultural value chain. Here’s a quick overview of the essential details:

Key Offering Parameters

Parameter	Detail
Offering Type	SME Book Building Issue
Offering Period	September 26, 2025 – September 30, 2025
Share Price Range	₹93 to ₹99 per share
Face Value	₹10 per share
Overall Offering Size	23,76,000 shares (aggregating up to ₹23.52 Cr)
Issuance Mechanism	Fresh Issue
Exchange Listing	BSE SME

Exploring Rukmani Devi Garg Agro Impex Ltd.: A Business Overview

Incorporated in 1998, Rukmani Devi Garg Agro Impex Limited has carved a niche in the agro-processing industry. The company is actively involved in the import and export of agricultural products, food processing, and providing related services. It aims to cater to both domestic and international markets, demonstrating a wide reach in its operations.

Operational Footprint and Product Line

The company sources key agricultural commodities such as wheat, mustard, coriander, maize, flax seeds, and soybeans from a robust network of over 500 agents across Rajasthan and Madhya Pradesh, ensuring direct connection with farming communities.
Its infrastructure includes 3 owned warehouses with a substantial capacity of 20,000 MT, complemented by 2 leased warehouses adding another 20,000 MT.
A strategically located and fully automated processing unit in RIICO spans 2,290 sq. mtr, with a storage capacity of 3,500 MT.
The distribution network is extensive, comprising 118 dealers and distributors as of March 31, 2025.
Beyond raw commodities, the company processes wheat, offering cleaned and sorted products under its own brands: “Sharbati,” “Happyfamily,” and “Taj Mahal.” It also deals in processed products like mustard oil and soybean oil.

Distinctive Business Advantages

The company highlights several factors that contribute to its market position:

**Established Client Relationships:** Long-standing associations with diverse industry customers.
**Robust Infrastructure:** Significant procurement and storage capacities.
**Advanced Processing:** Strategically located and automated processing capabilities.
**Quality Assurance:** Consistent focus on maintaining high-quality standards.
**Experienced Leadership:** Strong promoter background and an experienced management team with a proven track record.

Reviewing Financial Performance

A look at the company’s financials reveals a positive growth trajectory leading up to the IPO. Investors should consider these figures carefully to gauge the company’s health and future potential.

Historical Financial Highlights (₹ Crore)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	110.81	55.60	45.69
Total Income	327.32	245.02	248.50
Profit After Tax (PAT)	7.57	5.02	0.47
EBITDA	12.64	8.17	3.08
Net Worth	32.43	24.86	19.84
Total Borrowing	49.21	26.84	25.13

Between FY2024 and FY2025, the company recorded an impressive 34% increase in total income and a substantial 51% surge in Profit After Tax, indicating strong operational efficiency and growth.

Essential Performance Metrics (as of Mar 31, 2025)

Key Indicator	Value
Market Capitalization	₹87.87 Cr
Return on Equity (ROE)	23.35%
Return on Capital Employed (ROCE)	15.61%
Debt/Equity Ratio	1.52
Net Profit Margin	2.32%
EBITDA Margin	3.87%
Price to Book Value	1.98

The company’s high ROE and ROCE indicate efficient utilization of shareholder funds and capital. However, the Debt/Equity ratio of 1.52 suggests a moderately leveraged balance sheet, which is a point for consideration.

Earnings and Valuation

Metric	Pre-IPO	Post-IPO
Earnings Per Share (EPS)	₹11.65	₹8.53
Price/Earnings (P/E) Ratio	8.51x	11.61x

The post-IPO EPS is calculated based on the diluted shareholding after the issue, which is a common effect of fresh equity issuance.

Investment Mechanics: Subscription Details

Understanding how the IPO is structured and how to apply is vital for prospective investors.

Investment Category Allocation

The issue is structured to ensure participation from various investor categories:

**Qualified Institutional Buyers (QIBs):** Not more than 50% of the Net Issue.
**Retail Individual Investors (RIIs):** Not less than 35% of the Net Issue.
**Non-Institutional Investors (NIIs):** Not less than 15% of the Net Issue.

Minimum Investment & Lot Details

Investors can bid for a minimum of 1,200 shares and in multiples thereof. The application details for different investor types are as follows:

Investor Category	Min. Lots	Min. Shares	Min. Amount (at upper price band)
Retail Individual Investor	2	2,400	₹2,37,600
Small HNI (S-HNI)	3	3,600	₹3,56,400
Big HNI (B-HNI)	9	10,800	₹10,69,200

Founders’ Stake

The promoters of Rukmani Devi Garg Agro Impex Ltd. are Mr. Vishal Garg, Mrs. Anju Garg, and RDG Capital Private Limited. Their commitment to the company is reflected in their shareholding:

Holding Stage	Promoter Holding
Pre-Issue Shareholding	100.00%
Post-Issue Shareholding	73.22%

Purpose of the Public Offering

The company intends to utilize the net proceeds from the IPO for key strategic objectives:

Funding its working capital requirements, crucial for day-to-day operations and growth.
Addressing general corporate purposes, providing flexibility for future business initiatives and contingencies.

Strategic Foresight: A SWOT Analysis

A balanced perspective on the company’s internal strengths and weaknesses, alongside external opportunities and threats, can provide a clearer picture for investors.

Strengths

**Integrated Operations:** Strong presence across procurement, processing, and distribution of agricultural products.
**Extensive Network:** A wide agent network for raw material sourcing and a broad distributor base for product reach.
**Infrastructure Advantage:** Owned and leased warehouses, along with a modern processing unit, signify robust operational capabilities.
**Experienced Management:** Leadership with a proven track record in the agro-processing domain.
**Brand Recognition:** Established brands like “Sharbati,” “Happyfamily,” and “Taj Mahal” for processed wheat.

Weaknesses

**Commodity Price Volatility:** Revenue and profitability can be influenced by fluctuations in agricultural commodity prices.
**Regional Dependency:** Significant procurement from Rajasthan and Madhya Pradesh might expose the company to regional agricultural risks.
**Competition:** Operating in a sector with numerous organized and unorganized players.
**Working Capital Intensity:** The agro-processing business often requires substantial working capital, as highlighted by the IPO objective.
**Leverage:** A Debt/Equity ratio of 1.52, while manageable, indicates a relatively higher reliance on borrowed funds.

Opportunities

**Rising Demand:** Growing demand for processed food and agricultural products both domestically and internationally.
**Value Addition:** Expanding into further value-added products beyond basic processing and oil extraction.
**Export Market:** Potential to increase export footprint given its existing import/export capabilities.
**Technological Adoption:** Further automation and technological upgrades could enhance efficiency and reduce costs.
**Government Initiatives:** Favorable government policies and support for the agriculture and food processing sectors.

Threats

**Adverse Climatic Conditions:** Dependency on agriculture makes the business vulnerable to unexpected weather events impacting crop yields.
**Regulatory Changes:** Evolving government regulations concerning agriculture, food processing, and trade policies.
**Intense Competition:** Pressure from larger, more established players, as well as new entrants.
**Supply Chain Disruptions:** Risks associated with logistics, storage, and timely delivery of goods.
**Economic Downturns:** Reduced consumer spending power could impact demand for processed food products.

Making an Informed Decision: Investor Considerations

Investing in an SME IPO requires thorough research. Here’s a general guide for prospective investors:

How to Participate in the Offering

Investors interested in applying for the Rukmani Devi Garg Agro Impex IPO can do so online using various methods:

**UPI (Unified Payments Interface):** Many brokerage platforms offer the UPI application method, allowing you to apply directly from your trading account and authorize payment via your UPI app (e.g., BHIM, Google Pay, PhonePe).
**ASBA (Applications Supported by Blocked Amount):** This method is available through the net banking portal of your bank. Your application amount remains blocked in your bank account until allotment, ensuring you don’t lose interest.

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

Key Considerations for SME IPOs

While SME IPOs offer growth potential, it’s prudent to be aware of certain aspects:

**Risk Profile:** SME companies typically carry a higher risk profile compared to larger, established companies.
**Liquidity:** Shares listed on SME platforms might have lower trading volumes, affecting liquidity.
**Valuation:** Assess the valuation metrics (like P/E ratio, market capitalization) in comparison to industry peers and the company’s growth prospects.
**Management Quality:** Strong and transparent management is crucial for navigating challenges and achieving growth.

Conclusion

Rukmani Devi Garg Agro Impex Ltd.’s IPO provides an interesting investment avenue in the resilient agro-processing sector. With a robust operational network, demonstrated financial growth, and clear objectives for utilizing the fresh capital, the company presents a compelling case. However, like all investments, it comes with its own set of risks and rewards. Potential investors are encouraged to thoroughly review the official offering documents, including the Red Herring Prospectus (RHP), conduct their due diligence, and consider their individual risk appetite before making any investment decisions. The agri-sector is fundamental to the economy, and companies like Rukmani Devi Garg Agro Impex play a crucial role in its value chain.

Important Contacts

Company Contact Information

Rukmani Devi Garg Agro Impex Ltd.
Plot No. 7, Bhamashah Mandi Anantpura,
Kota, Rajasthan, 324005
Phone: +91 7891517187
Email: info@rdgagro.com
Website: https://www.rdgagro.com/

Official Registrar for the Offering

Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html

September 24, 2025

Category: SME IPO

Sunsky Logistics Limited

Unlocking Growth Potential: A Comprehensive Look at the Sunsky Logistics IPO

Introducing Sunsky Logistics Ltd.: A Pillar in Integrated Freight

Core Service Offerings:

Key Aspects of the Initial Public Offering

IPO Journey: Key Dates to Remember

Investment Structure and Share Allocation

Minimum Investment Details:

Analyzing Sunsky Logistics’ Financial Performance

Key Performance Indicators (KPIs) and Valuation Metrics:

Strategic Use of IPO Proceeds

Leadership and Governance

IPO Facilitators:

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

Strengths:

Weaknesses:

Opportunities:

Threats:

Final Considerations for Potential Investors

Company & Registrar Contact Information

Sunsky Logistics Ltd.

Registrar: Kfin Technologies Ltd.

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Chiraharit IPO: Charting a Sustainable Investment Path in Green Infrastructure

About Chiraharit Ltd.: Pioneering Sustainable Solutions

Core Service Offerings:

Understanding the Chiraharit IPO: Key Details at a Glance

IPO Offering Structure:

Important Dates and Timeline:

IPO Journey at a Glance:

Investment Lot Size and Categories:

Chiraharit’s Financial Journey: Performance & Valuation

Key Financial Highlights (₹ Crore):

Key Performance Indicators (KPIs) and Valuation:

Promoter Holding:

Capitalizing on Growth: Objectives of the IPO

Strategic Outlook: A SWOT Analysis of Chiraharit Ltd.

Strengths:

Weaknesses:

Opportunities:

Threats:

Participating in the Chiraharit IPO: How to Apply

Important Company and Registrar Information:

Chiraharit Ltd. Contact Details:

IPO Registrar (Bigshare Services Pvt.Ltd.) Contact:

Final Thoughts for Potential Investors

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Sodhani Capital IPO: Charting Investment Opportunities in Financial Services

About Sodhani Capital Limited: Guiding Financial Futures

**Key Service Offerings:**

Initial Public Offering Snapshot

Important Dates for Your Calendar

Investment Lot Size & Application Details

**Share Reservation Breakdown:**

Decoding Sodhani Capital’s Financial Performance

**Key Valuation Metrics (KPIs):**

Promoters and Shareholding Structure

Objectives Behind the Public Offering

Strategic Outlook: A SWOT Analysis

**Strengths:**

**Weaknesses:**

**Opportunities:**

**Threats:**

How to Participate in the Sodhani Capital IPO

Company & Registrar Information

**Company Contact Details:**

**IPO Registrar Details:**

Concluding Thoughts on Sodhani Capital IPO

Vijaypd Ceutical Limited

Charting the Course: A Deep Dive into Vijaypd Ceutical’s Upcoming IPO

Important Dates to Watch: Your IPO Timeline

IPO Journey: Key Dates at a Glance

Understanding the Public Offering

Application & Lot Details

Public Offering Allocation

Meet Vijaypd Ceutical Ltd.

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

Strengths

Weaknesses

Key Service Offerings:

Share Reservation Breakdown:

Key Valuation Metrics (KPIs):

Strengths:

Weaknesses:

Opportunities:

Threats:

Company Contact Details:

IPO Registrar Details:

Key Strengths:

Strengths (Internal Positives):

Weaknesses (Internal Negatives):

Opportunities (External Positives):