Category: SME IPO

Rachit Prints Limited

Unveiling Rachit Prints IPO: A Deep Dive into the Specialty Fabric Manufacturer

The Indian financial landscape is buzzing with new opportunities, and Rachit Prints Ltd. is set to make its debut with an SME IPO. This offering presents an exciting prospect for investors keen on the specialty fabric sector, particularly those catering to the growing mattress industry. Let’s embark on a comprehensive analysis of Rachit Prints, its business model, the specifics of its IPO, financial health, and potential outlook.

Rachit Prints: Weaving Quality into Mattress Fabrics

Established in 2003, Rachit Prints Limited has carved a niche for itself in the manufacturing of specialty fabrics. The company’s core expertise lies in producing a diverse range of fabrics specifically designed for the mattress industry.

Operating on a Business-to-Business (B2B) model, Rachit Prints supplies its high-quality knitted, printed, and warp knit fabrics, alongside pillow fabrics and binding tapes, to prominent mattress brands. Their impressive client roster includes industry leaders like Sleepwell, Kurlon Enterprises, and Prime Comfort Products, showcasing their strong market presence and product reliability. Beyond manufacturing, the company also engages in trading comforters and bedsheets, diversifying its revenue streams.

Diverse Product Portfolio:

Knitted Fabric: Primarily circular knitted fabric made from polyester yarns, widely utilized in home furnishings and mattresses.
Warp Knit: Characterized by vertically interlocking loops, offering unique textile properties.
Printed Fabric: Polyester printed fabrics for mattresses, created using advanced printing techniques for aesthetic appeal.
Flame Resistant Fabric: Specialty fibers that inherently resist burning, or fabrics treated with chemicals to extinguish flames, enhancing safety.

Key Business Strengths:

Experienced Management Team: A seasoned leadership guiding the company’s growth.
Advanced Knitting Technology: Utilizing modern techniques for efficient and high-quality production.
Strategic Alliances: Strong partnerships with leading brands ensure consistent demand.
Government Support: Benefiting from potential government incentives for the textile manufacturing sector.

Rachit Prints IPO: Key Offering Details

The Rachit Prints IPO is structured as a book-built issue, entirely comprising a fresh issuance of shares. This means the funds raised will go directly to the company, primarily to fuel its growth and strategic objectives.

Aspect	Details
Issue Type	Book Building IPO
Listing Exchange	BSE SME
Face Value	₹10 per share
Price Band	₹140 to ₹149 per share
Total Issue Size	13,08,000 shares (aggregating up to ₹19.49 Cr)
Sale Type	Fresh Capital

Important Dates for Investors:

Mark your calendars for these crucial dates related to the Rachit Prints IPO:

IPO Open

Sep 1, 2025

IPO Close

Sep 3, 2025

Allotment Finalization

Sep 4, 2025

Listing Date

Sep 8, 2025

Allocation and Investment Opportunities

Share Reservation Across Categories:

The IPO has allocated shares across various investor categories to ensure broad participation.

Investor Category	Shares Offered	Percentage
Market Maker	66,000	5.05%
Qualified Institutional Buyers (QIB)	26,000	1.99%
Non-Institutional Investors (NII / HNI)	6,08,000	46.48%
Retail Individual Investors (RII)	6,08,000	46.48%
Total Shares Offered	13,08,000	100.00%

Investment Lot Sizes:

The minimum application quantity for Rachit Prints IPO is 1,000 shares. The investment amounts vary by investor category:

Investor Category	Lots (Min)	Shares (Min)	Amount (Min)
Individual Investors (Retail)	2	2,000	₹2,98,000
Small HNI (S-HNI)	3	3,000	₹4,47,000
Big HNI (B-HNI)	7	7,000	₹10,43,000

Financial Overview: A Snapshot of Performance

Rachit Prints Ltd. has demonstrated promising financial growth, particularly in recent years. Between the financial years ending March 31, 2024, and March 31, 2025, the company reported a 13% increase in revenue and a substantial 125% surge in Profit After Tax (PAT).

Particulars (₹ Crore)	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023
Assets	26.09	19.02	23.27
Total Income	41.78	37.11	32.39
Profit After Tax (PAT)	4.56	2.03	0.32
EBITDA	7.23	4.27	2.01
Net Worth	12.31	5.46	3.43
Reserves and Surplus	8.68	3.55	1.52
Total Borrowing	9.23	6.38	14.79

Key Valuation Metrics:

As of March 31, 2025, Rachit Prints IPO’s market capitalization stands at ₹73.55 Crores. Analyzing other key performance indicators offers further insight:

Metric	Value
Return on Equity (ROE)	51.34%
Return on Capital Employed (ROCE)	29.61%
Debt/Equity Ratio	0.75
Return on Net Worth (RoNW)	37.06%
PAT Margin	10.94%
EBITDA Margin	17.33%
Price to Book Value	4.24

Valuation Parameter	Pre IPO	Post IPO
EPS (Rs)	12.57	9.24
P/E (x)	11.85	16.12

Promoter Group and Shareholding

The company is promoted by Mr. Anupam Kansal, Ms. Naina Kansal, and Ms. Rose Kansal, who have been instrumental in its journey. Their commitment is reflected in their substantial shareholding.

Pre-Issue Shareholding: 92.09%
Post-Issue Shareholding: 67.69%

Utilisation of IPO Proceeds: Fueling Future Growth

The capital raised from the IPO is earmarked for strategic initiatives that are crucial for Rachit Prints’ continued expansion and operational efficiency:

Working Capital Requirement: ₹9.50 Crores will be allocated to meet the company’s day-to-day operational needs, ensuring smooth functioning and growth.
Capital Expenditure for Expansion: ₹4.40 Crores will be invested in purchasing new plant and machinery, crucial for expanding production capacity and upgrading technology.
Partial Debt Pre-payment: ₹1.32 Crores will be used for partial pre-payment of existing term loans, which can improve the company’s financial leverage.
General Corporate Purposes: Funds will also be utilized for various general corporate needs, providing flexibility for unforeseen requirements and strategic initiatives.

Strategic Assessment: Rachit Prints SWOT Analysis

A thorough SWOT analysis helps in understanding Rachit Prints’ current standing and future potential within the competitive landscape.

Strengths:
- Niche Market Expertise: Specialization in mattress fabrics provides a focused competitive edge.
- Strong B2B Relationships: Established clientele with leading mattress brands ensures stable demand.
- Modern Production Capabilities: Leveraging advanced knitting technology for efficiency and quality.
- Experienced Leadership: A capable management team with deep industry knowledge.
- Positive Financial Trajectory: Demonstrated significant growth in revenue and profitability.
Weaknesses:
- Dependency on Key Clients: A B2B model can create reliance on a few large customers.
- SME Listing Challenges: May face lower trading volumes and liquidity compared to mainboard listings.
- Limited Historical Data: Relatively shorter public financial record for detailed long-term analysis.
- Raw Material Price Sensitivity: Vulnerability to fluctuations in polyester yarn prices.
Opportunities:
- Booming Mattress Market: India’s growing population and rising disposable incomes drive demand for mattresses and related components.
- Product Innovation: Scope to introduce new specialized fabrics (e.g., cooling, anti-bacterial) for mattresses.
- Geographic Expansion: Potential to expand into new domestic markets or explore export opportunities.
- Automation & Efficiency: Further investment in technology can boost production efficiency and reduce costs.
Threats:
- Intense Competition: Facing rivalry from both organized and unorganized players in the textile and fabric manufacturing sector.
- Economic Volatility: Downturns can impact consumer spending on home furnishings and mattress upgrades.
- Regulatory Changes: Changes in trade policies, environmental regulations, or textile-specific norms could affect operations.
- Supply Chain Disruptions: Potential risks from global supply chain issues affecting raw material availability or costs.

Key IPO Intermediaries and Company Contact

The successful execution of the Rachit Prints IPO is supported by experienced intermediaries:

Book Running Lead Manager: Khambatta Securities Ltd.
Registrar: Maashitla Securities Pvt.Ltd.
Market Maker: Prabhat Financial Services Ltd.

Rachit Prints Ltd. Contact Details:

For direct inquiries regarding the company, interested parties can reach out using the following details:

B-9, 10 & 11, Udyog Puram, Delhi Road, Partapur, Meerut, Uttar Pradesh, 250103

Phone: +91-8958342975

Email: cs@rachitprints.co.in

Website: rachitprints.co.in

Conclusion: Evaluating Rachit Prints’ Future

The Rachit Prints IPO offers a chance to invest in a growing company with a strong foundation in the specialized mattress fabric industry. With a demonstrated track record of increasing revenues and profits, strategic use of IPO proceeds for expansion and debt reduction, and an experienced management team, Rachit Prints positions itself as an interesting proposition. However, as with any investment, potential investors are encouraged to conduct their own thorough due diligence, considering the industry dynamics, competitive landscape, and their individual risk appetite before making an investment decision.

August 25, 2025

Oval Projects Engineering Limited

Unlocking Opportunity: A Deep Dive into the Oval Projects Engineering SME IPO

As the Indian infrastructure sector continues its robust expansion, new investment avenues frequently emerge. One such opportunity is the upcoming SME IPO of Oval Projects Engineering Limited. For investors eyeing growth in core infrastructure, understanding the nuances of this offer is crucial. Let’s break down what this company brings to the table and what potential investors should consider.

Introducing Oval Projects Engineering Ltd.

Established in 2013, Oval Projects Engineering Limited has carved a niche as an infrastructure development entity with specialized expertise. The company operates across critical sectors in India, including Oil & Gas, City Gas Distribution (CGD), Urban Development, and Energy. Their comprehensive approach encompasses upstream, midstream, and downstream activities within the Oil and Gas sector, ranging from pipeline laying to processing plant operations and maintenance.

With a proven track record, Oval Projects Engineering boasts the successful installation of over 900 km of pipelines. They deliver turnkey solutions and actively engage in diverse projects across various regions nationwide, including significant presence in Agartala, Tripura.

Core Business Areas:

Oil & Gas Infrastructure: Specializing in designing and executing gas processing plants, storage terminals for oil and petrochemicals, and distribution infrastructure.
Oil and Gas Operation and Maintenance (O&M): Providing essential O&M services to CGD companies and public sector entities, covering pipeline repairs, scheduled shutdowns, and management of gas genset power plants and CNG stations.
Special Infrastructure Projects: Leveraging civil infrastructure expertise gained from oil and gas projects to undertake technical infrastructure projects funded by government bodies, the World Bank, and ADB.

Key Details of the Initial Public Offering

The Oval Projects Engineering IPO is a Book Built Issue, aiming to raise ₹46.74 crores entirely through a fresh issue of 54,99,200 equity shares.

IPO Snapshot:

Parameter	Detail
Issue Price Band	₹80 to ₹85 per share
Face Value	₹10 per share
Total Issue Size	54,99,200 shares (₹46.74 Crores)
Issue Type	Bookbuilding IPO (SME)
Listing At	BSE SME
Registrar	MAS Services Ltd.

Investment Lot Details:

Investors will need to bid for a minimum of 1,600 shares and in multiples thereafter. The investment amounts vary based on investor categories:

Investor Category	Minimum Lot Size	Minimum Shares	Minimum Amount (Approx.)
Retail Individual Investor	2 Lots	3,200 Shares	₹2,72,000
S-HNI (Small High Net Worth Individual)	3 Lots	4,800 Shares	₹4,08,000

IPO Event Timeline:

Here’s a tentative schedule for the Oval Projects Engineering IPO, from opening to listing:

IPO Open

Aug 28, 2025

IPO Close

Sep 1, 2025

Allotment

Sep 2, 2025

Listing Date

Sep 4, 2025

Financial Performance Snapshot

Analyzing a company’s financial health is paramount for any investor. Oval Projects Engineering Limited has demonstrated significant growth in its recent financial years.

Consolidated Financial Highlights (₹ Crore):

Particulars	March 31, 2025	March 31, 2024	March 31, 2023
Total Income	103.44	78.99	64.09
Profit After Tax (PAT)	9.33	4.40	3.19
Net Worth	55.88	33.67	17.75
Total Borrowing	53.70	32.41	32.21

The company witnessed a 31% increase in revenue and an impressive 112% surge in Profit After Tax (PAT) between FY2024 and FY2025. This demonstrates robust operational efficiency and strong market demand for their services. However, it is advisable to consider the sustainability of such high growth rates in the long term.

Key Performance Indicators (KPIs) and Valuation (as of March 31, 2025):

KPI	Value
Market Capitalization	₹176.54 Crores
Return on Equity (ROE)	20.85%
PAT Margin	9.12%
Pre-IPO EPS	6.11
Post-IPO EPS	4.49
Price to Book Value	2.67

Purpose of the Fresh Issue

Oval Projects Engineering plans to utilize the net proceeds from this IPO primarily for two key objectives:

Long-term working capital requirements (₹37.03 Crores): This significant allocation indicates the company’s intent to strengthen its operational liquidity and fund future project execution, which is crucial for an infrastructure player.
General Corporate Purposes: To meet various operational and strategic needs that arise in the normal course of business.

Promoter and Shareholding

Mr. Goutam Debnath is the driving force behind Oval Projects Engineering Ltd., serving as its promoter. Prior to the IPO, the promoter held a substantial 72.19% stake in the company. Post-issue, the shareholding will be adjusted following the equity dilution from the fresh issue.

Subscription Allocation Breakup:

Investor Category	Shares Offered	Percentage (%)
Market Maker	3,04,000	5.53%
Qualified Institutional Buyers (QIB)	15,60,000	28.37%
Non-Institutional Investors (NII/HNI)	14,40,000	26.19%
Retail Individual Investors (RII)	21,95,200	39.92%

Anchor Investor Participation:

The company successfully raised ₹7.96 crore from anchor investors on August 26, 2025, ahead of the IPO opening. Anchor investors typically instill confidence in an IPO.

Shares Offered to Anchors: 9,36,000
Anchor Portion Size: ₹7.96 Crores
Lock-in Period for 50% shares: Until October 2, 2025 (30 Days)
Lock-in Period for remaining shares: Until December 1, 2025 (90 Days)

Analyzing the Investment Case: SWOT Perspective

To provide a comprehensive view, here’s a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis for Oval Projects Engineering Ltd.:

Strengths:

Sectoral Expertise: Strong specialization in high-growth infrastructure segments like Oil & Gas and City Gas Distribution.
Proven Execution: Demonstrated capability with over 900 km of pipeline installations and diverse project experience.
Experienced Leadership: Guided by an experienced promoter and management team.
Robust Order Book: A healthy order book of ₹453 crore as of April 9, 2025, signals future revenue visibility.
Strong Financial Growth: Significant increases in revenue and PAT in recent fiscal years reflect operational efficiency.

Weaknesses:

Valuation Concerns: The IPO appears to be aggressively priced based on recent financial data, potentially limiting immediate listing gains.
Sustainability of High Growth: While recent PAT growth is impressive, its sustainability needs careful consideration.
Increased Borrowings: A noticeable increase in total borrowings from FY24 to FY25.
SME Segment Risks: Investing in SME IPOs generally carries higher risks related to liquidity and post-listing performance compared to mainboard IPOs.

Opportunities:

Growing Infrastructure Outlays: India’s continuous focus on infrastructure development, especially in energy and urban sectors, provides a fertile ground for growth.
Expansion of CGD Network: Government initiatives to expand City Gas Distribution networks offer sustained project opportunities.
Diversification Potential: Ability to leverage existing expertise to expand into adjacent infrastructure segments or new geographies.
Technological Advancement: Adoption of new technologies can further enhance project efficiency and competitiveness.

Threats:

Intense Competition: The infrastructure sector is highly competitive, potentially impacting project margins and acquisition.
Regulatory Changes: Policy shifts in the Oil & Gas and energy sectors could influence project viability and timelines.
Economic Downturns: Macroeconomic slowdowns can reduce government and private spending on infrastructure projects.
Project Execution Risks: Inherent risks associated with large-scale projects, including delays, cost overruns, and unforeseen operational challenges.

How to Participate in the IPO

Interested investors can apply for the Oval Projects Engineering IPO through their brokerage accounts using either the UPI (Unified Payments Interface) or ASBA (Application Supported by Blocked Amount) methods. Many online brokers offer a streamlined process to apply for IPOs directly from their platforms.

General Application Steps:

Log in to your broker’s trading platform (e.g., console/back office).
Navigate to the IPO section.
Select the “Oval Projects Engineering IPO.”
Enter your UPI ID (for UPI applications), the desired quantity (in multiples of the lot size), and the bid price.
Confirm and submit your application.
Approve the mandate request on your UPI payment app within the stipulated time.

Company and Registrar Information

Company Contact Details:

Oval Projects Engineering Ltd.
House No. 451568, Milan Chakra, (Near Prajapita Brahmakumari Center)
Badharghat, P.O. A.D. Nagar
Agartala, Tripura, 799003
Phone: +91 7085049473
Email: cs@ovalprojects.com
Website: https://www.ovalprojects.com/

IPO Registrar:

MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: https://www.masserv.com/opt.asp

Final Thoughts for Potential Investors

Oval Projects Engineering Ltd. presents an interesting proposition within the booming Indian infrastructure landscape. The company’s established presence, strong order book, and impressive recent financial growth are certainly positive indicators. However, potential investors should carefully weigh the aggressive pricing and the inherent risks associated with SME IPOs and the cyclical nature of the infrastructure sector.

Considering the company’s robust project execution capabilities and the government’s sustained focus on infrastructure, well-informed investors with a moderate to long-term investment horizon may find value in this offering. Always conduct your own thorough research and consider consulting a financial advisor before making any investment decisions.

August 25, 2025

Sugs Lloyd Limited

Unveiling Sugs Lloyd IPO: A Deep Dive into Renewable Energy Investment

In the dynamic landscape of the Indian stock market, Initial Public Offerings (IPOs) often present exciting opportunities for investors. As the renewable energy sector continues its robust growth, companies driving this transformation are increasingly seeking public investment. One such upcoming opportunity is the Sugs Lloyd IPO, an SME (Small and Medium Enterprise) offering that has captured significant attention. This comprehensive analysis will explore Sugs Lloyd Limited, its business model, the intricate details of its IPO, financial health, and a balanced SWOT assessment to help you make an informed investment decision. Get ready to understand this promising venture in the burgeoning green energy space.

Understanding Sugs Lloyd Limited: A Glimpse into the Company

Established in 2009, Sugs Lloyd Limited is a technology-driven engineering and construction firm with a strong focus on the renewable energy sector, particularly solar energy. Beyond solar, the company is also actively involved in critical electrical transmission, distribution, and civil Engineering, Procurement, and Construction (EPC) projects.

Diverse Service Portfolio

Solar EPC: Specializing in both ground-mounted and rooftop solar installations, contributing to India’s solar power capacity.
Electrical EPC: Expertise in smart meter installations and comprehensive Annual Maintenance Contracts (AMC) for 33/11 kV electrical line networks.
Civil EPC: Engaged in civil building construction, including the refurbishment and modernization of government buildings.
Manpower Staffing: Provides skilled manpower and recruitment services for young technical professionals under government initiatives like NAPS/NATS.

As of March 31, 2025, the company proudly reports a dedicated workforce of 206 employees, underscoring its operational scale and commitment.

Competitive Advantages Shaping its Future

Commitment to Quality: Strong emphasis on quality assurance and adherence to industry standards, building trust with clients.
Robust Client Relationships: Leveraging existing partnerships and a track record of successful project delivery.
Scalable Business Model: An adaptable operational framework that supports growth and expansion into new projects and segments.

Key Details of the Initial Public Offering (IPO)

The Sugs Lloyd IPO is structured as a book-built issue, entirely comprising a fresh issuance of shares. This means the company will directly receive all the proceeds, which will be utilized for its stated objectives.

Offer Overview

Issue Type	Book-Built Issue
Issue Size	₹85.66 Crores (69,64,000 shares)
Sale Type	Fresh Capital Issue
Price Band	₹117 to ₹123 per share
Face Value	₹10 per share
Listing At	BSE SME
Promoters	Mrs. Priti Shah and Mr. Santosh Kumar Shah

IPO Dates at a Glance: Your Investment Timeline

Understanding the IPO timeline is crucial for prospective investors. Here’s a breakdown of the key dates:

Anchor Bid

Aug 28, 2025

IPO Open

Aug 29, 2025

IPO Close

Sep 2, 2025

Allotment

Sep 3, 2025

Refunds

Sep 4, 2025

Demat Credit

Sep 4, 2025

Listing Date

Sep 5, 2025

For investors using UPI for applications, ensure your mandate is confirmed by 5 PM on September 2, 2025.

Investment Lot Size: Minimum Application Details

As an SME IPO, Sugs Lloyd has specific lot sizes for different investor categories. Investors can bid for a minimum of 2,000 shares (which constitutes 2 lots of 1,000 shares each) and in multiples of 1,000 shares thereafter.

Investor Category	Min Lots	Min Shares	Min Amount (₹)	Max Lots	Max Shares	Max Amount (₹)
Retail Individual Investor	2	2,000	2,46,000	2	2,000	2,46,000
Small HNI (S-HNI)	3	3,000	3,69,000	8	8,000	9,84,000
Big HNI (B-HNI)	9	9,000	11,07,000	–	–	–

Purpose of the Issue: What Will the Funds Be Used For?

Sugs Lloyd Limited aims to utilize the net proceeds from this IPO to fuel its growth and strengthen its operational capabilities. The primary objectives are:

S.No.	Objectives of the Issue	Expected Amount (₹ in Crores)
1	To Meet Working Capital Requirement	80.65
2	General Corporate Purposes	*

*The amount for General Corporate Purposes is usually derived from the remaining net proceeds after meeting specific objectives.

Understanding the Share Allocation Structure

The total issue of 69,64,000 shares is strategically distributed among various investor categories, ensuring broad participation.

IPO Reservation Breakdown

Investor Category	Shares Offered	Percentage (%)
Market Maker Shares	3,50,000	5.03%
QIB Shares Offered	6,91,000	9.92%
– Anchor Investor Shares	4,06,000	5.83%
– QIB (Ex-Anchor) Shares	2,85,000	4.09%
Non-Institutional Investors (NII/HNI)	21,85,000	31.38%
Retail Individual Investors (RII)	37,38,000	53.68%
Total Shares Offered	69,64,000	100.00%

Anchor Investor Participation

Sugs Lloyd IPO successfully garnered ₹4.99 crore from anchor investors, signaling confidence from institutional participants. The anchor bid date was August 28, 2025.

Shares Offered to Anchors: 4,06,000 shares
Anchor Portion Size: ₹4.99 Crores
Lock-in Period for 50% Shares: Ends October 3, 2025 (30 days)
Lock-in Period for Remaining Shares: Ends December 2, 2025 (90 days)

Financial Health and Performance (Valuation Metrics)

A look into the company’s financials provides crucial insights into its operational efficiency and growth trajectory. Sugs Lloyd Limited has demonstrated impressive financial growth over the past few years.

Recent Financial Highlights (Restated Consolidated)

Between FY24 and FY25, Sugs Lloyd Ltd. showcased significant improvements in its financial performance, with revenue increasing by 159% and profit after tax (PAT) growing by 60%.

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets (₹ Crore)	133.50	48.23	24.65
Total Income (₹ Crore)	177.87	68.75	36.36
Profit After Tax (₹ Crore)	16.78	10.48	2.29
EBITDA (₹ Crore)	25.83	10.96	4.10
Net Worth (₹ Crore)	38.64	21.86	11.38
Reserves and Surplus (₹ Crore)	22.39	12.11	8.13
Total Borrowing (₹ Crore)	74.83	18.57	8.36

Key Performance Indicators (KPIs) for Investors

These metrics provide deeper insights into the company’s efficiency and financial health as of March 31, 2025, with a market capitalization of ₹285.53 Crores.

KPI	Values (as of Mar 31, 2025)
Return on Equity (ROE)	55.47%
Return on Capital Employed (ROCE)	21.58%
Debt/Equity Ratio	1.94
Return on Net Worth (RoNW)	43.42%
Profit After Tax Margin (PAT Margin)	9.52%
EBITDA Margin	14.66%
Price to Book Value	9.14

Earnings and Valuation at a Glance

Analyzing the Earnings Per Share (EPS) and Price-to-Earnings (P/E) ratios helps in assessing the company’s valuation before and after the IPO.

Metric	Pre IPO	Post IPO
EPS (Rs)	10.32	7.23
P/E (x)	11.91	17.02

Note: Pre-IPO EPS is calculated on pre-issue shareholding, and Post-IPO EPS on post-issue shareholding, both based on latest FY earnings.

SWOT Analysis: A Balanced View for Sugs Lloyd IPO

To provide a holistic perspective, here’s a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis for Sugs Lloyd Limited.

Strengths

Strong presence in the high-growth renewable energy and infrastructure sectors.
Demonstrated robust financial performance with significant revenue and PAT growth.
Diversified service portfolio reduces reliance on a single segment.
Experienced management and established client relationships.
Scalable business model allows for agile expansion and project execution.

Weaknesses

Relatively high Debt/Equity ratio (1.94), indicating higher financial leverage.
Significant portion of IPO proceeds allocated to working capital, suggesting potential liquidity needs for operations.
As an SME listing, it might have lower liquidity compared to mainboard IPOs.
Lack of a long-term publicly traded track record.

Opportunities

Booming renewable energy sector, especially solar, driven by government policies and environmental mandates.
Growing demand for robust electrical transmission and distribution infrastructure in India.
Potential for expansion into new geographical regions and diversification into related engineering services.
Increasing government spending on public infrastructure and smart city initiatives.

Threats

Intense competition from established players and new entrants in the EPC and renewable sectors.
Regulatory changes or shifts in government policies concerning renewable energy and infrastructure projects.
Fluctuations in raw material prices and availability, impacting project costs and profitability.
Economic slowdowns or interest rate hikes could affect project financing and demand.

How to Participate in the Sugs Lloyd IPO

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

General Steps to Apply:

Ensure you have an active Demat and Trading Account with a registered broker.
For UPI-based applications: Log in to your broker’s platform (e.g., Zerodha Console), navigate to the IPO section, select Sugs Lloyd IPO, enter your UPI ID, quantity, and bid price, then approve the mandate on your UPI app.
For ASBA-based applications: Log in to your bank’s net banking portal, find the e-IPO section, select Sugs Lloyd IPO, and follow the instructions to place your bid.
Always read the Red Herring Prospectus (RHP) thoroughly before applying to understand all terms and risks.

Important Contacts for Investors

For further information or assistance, you may contact the company or the IPO registrar:

Sugs Lloyd Ltd. (Company Contact)

Address: Office No-8B, CSC-I Mandawali, Fazalpur behind Narwana Apartments, New Delhi, New Delhi, 110092
Phone: +91 9599194186
Email: compliance@sugsllyods.com
Website: https://www.sugslloyds.com/

Kfin Technologies Ltd. (IPO Registrar)

Phone: 04067162222, 04079611000
Email: sugs.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/

Final Thoughts: Is Sugs Lloyd IPO a Good Fit for Your Portfolio?

The Sugs Lloyd IPO presents an intriguing investment opportunity in the rapidly expanding renewable energy and infrastructure sectors. With a strong track record of financial growth, a diversified service portfolio, and a clear vision for utilizing the IPO proceeds, the company appears well-positioned for future expansion. However, as with any investment, it’s crucial to weigh the strengths against potential weaknesses, such as its debt-to-equity ratio and the inherent risks associated with an SME listing.

Prospective investors should conduct their own thorough due diligence, including a careful review of the company’s Red Herring Prospectus (RHP) and market conditions. Consider consulting with a qualified financial advisor to determine if this IPO aligns with your individual investment goals and risk tolerance. Staying informed on subscription trends and market sentiment leading up to the listing date will also be beneficial. This IPO could be an excellent opportunity for those looking to invest in a growing sector, but informed decision-making remains paramount.

August 23, 2025

Snehaa Organics Limited

Decoding Snehaa Organics IPO: An In-depth Investment Review

The Indian financial landscape continues to offer exciting opportunities, especially within the Small and Medium Enterprise (SME) sector. As a dynamic segment, SME IPOs can present unique growth prospects for discerning investors. This comprehensive guide delves into the upcoming Public Offering of Snehaa Organics Limited, providing a detailed analysis to help you make an informed decision.

Understanding the Business: Snehaa Organics at a Glance

Established in October 2017, Snehaa Organics Limited operates in the crucial field of solvent recovery. This involves collecting spent solvents from various industries and employing sophisticated distillation and purification technologies to enable their reuse. This sustainable approach helps industries reduce waste and promotes resource efficiency.

Beyond recovery, the company also actively trades solvents, sourcing raw materials, conducting rigorous quality assessments, and distributing them in the open market. Their manufacturing facility, spanning 3,300 sq. ft. in Hyderabad, Telangana, is equipped to handle diverse solvent mixtures with varying batch requirements efficiently.

Competitive Edge: What Makes Them Stand Out?

Modern technology and robust infrastructure for advanced solvent recovery processes.
A strong reputation within the pharmaceutical sector, a testament to their quality and reliability.
Strategic location, likely offering logistical advantages for raw material sourcing and product distribution.

The Public Offering: Key Details for Investors

The Snehaa Organics IPO is structured as a book-built issue, entirely comprising a fresh issue of shares designed to raise capital for the company’s growth initiatives.

Issue Snapshot: What You Need to Know

Detail	Information
IPO Opening Date	August 29, 2025
IPO Closing Date	September 2, 2025
Face Value	₹10 per share
Price Band	₹115 to ₹122 per share
Total Issue Size	26,79,000 shares (₹32.68 Cr)
Issue Type	Book Built Issue – Fresh Issue
Listing At	NSE SME

Investment Tiers: Understanding Lot Sizes

Investors can bid for a minimum of 1,000 shares and in multiples thereof. The minimum and maximum investment details for various investor categories are outlined below:

Investor Category	Min. Lots	Min. Shares	Min. Amount (at ₹122/share)
Retail Individual Investor (RII)	2	2,000	₹2,44,000
Small HNI (S-HNI)	3	3,000	₹3,66,000
Big HNI (B-HNI)	9	9,000	₹10,98,000

The Road Ahead: IPO Application Timeline

IPO Open

Aug 29, 2025

IPO Close

Sep 2, 2025

Allotment Finalized

Sep 3, 2025

Listing Day

Sep 5, 2025

Company’s Financial Footprint: A Deep Dive

A thorough examination of Snehaa Organics’ financial performance provides crucial insights into its health and growth potential. The company has demonstrated impressive growth in recent fiscal years.

Growth Trajectory: Recent Financial Performance

Period Ended (March 31)	2025 (₹ Cr)	2024 (₹ Cr)	2023 (₹ Cr)
Total Assets	30.06	17.10	10.80
Total Income	26.29	23.80	20.41
Profit After Tax (PAT)	7.34	3.66	3.25
EBITDA	11.41	5.83	4.17
Net Worth	14.78	7.44	3.78
Total Borrowing	9.09	3.92	3.59

Snehaa Organics has demonstrated robust financial growth, with revenue increasing by 10% and profit after tax (PAT) soaring by 101% between FY24 and FY25. This significant improvement in profitability showcases strong operational efficiency.

Key Metrics for Evaluation: Financial Health Indicators

Indicator	Value (as of Mar 31, 2025)
Return on Equity (ROE)	49.66%
Return on Capital Employed (ROCE)	50.38%
Debt/Equity Ratio	0.61
PAT Margin	27.98%
EBITDA Margin	43.52%
Price to Book Value	0.83
Pre-IPO EPS (Rs)	9.78
Post-IPO EPS (Rs)	7.21
Pre-IPO P/E (x)	12.47
Post-IPO P/E (x)	16.92

The company exhibits strong return ratios (ROE and ROCE above 49%), indicating efficient capital utilization. A Debt/Equity ratio of 0.61 suggests a healthy balance sheet. The market capitalization of Snehaa Organics IPO is ₹124.18 Cr.

Strategic Vision: Purpose of the Issue

The funds raised through this IPO will be strategically deployed to fuel Snehaa Organics’ future growth and strengthen its operational capabilities. The key objectives are:

Meeting working capital requirements (₹23.94 Cr).
Repayment of existing company loans (₹3.50 Cr).
General corporate purposes.
Funding issue-related expenses.

Commitment & Control: Promoter Stake

The promoters of Snehaa Organics Limited are Mr. Nandigala Venkata Sai Harish, Mr. Nandigala Venkata Sai Kiran, and Ms. Samhitha Reddy Tera. Their significant stake in the company both before and after the IPO reflects their confidence and long-term vision.

Holding Stage	Percentage
Pre-Issue Share Holding	99.99%
Post-Issue Share Holding	73.68%

SWOT Analysis: A Comprehensive Perspective

Evaluating any investment requires a holistic view, considering both internal and external factors. A SWOT analysis helps shed light on the company’s position.

Strengths

Strong financial growth and profitability with high ROE and PAT margins.
Operations in the essential and growing solvent recovery sector, driven by industrial demand and environmental regulations.
Modern technology and infrastructure, indicating operational efficiency and quality.
Established reputation, particularly in the pharmaceutical sector.
Experienced promoter group with significant pre-IPO holding.

Weaknesses

Reliance on specific industrial sectors (e.g., pharmaceuticals) for spent solvent collection.
Being an SME, it may face challenges in scaling operations rapidly compared to larger competitors.
Potential for high batch variability in raw materials (spent solvents) could impact recovery efficiency.

Opportunities

Increasing environmental consciousness and stricter regulations favoring solvent recovery and recycling.
Expansion into new industrial sectors that use solvents, broadening customer base.
Technological advancements in distillation and purification could lead to higher recovery rates and cost efficiencies.
Growth in chemical and pharmaceutical manufacturing in India, increasing the demand for their services.

Threats

Volatility in prices of raw materials (spent solvents) or refined solvents.
Intensified competition from other solvent recovery players or new entrants.
Adverse changes in environmental policies or industrial regulations that could impact operations or demand.
Economic slowdowns affecting industrial output and demand for solvents.

Navigating the Application Process

Applying for an IPO is a straightforward process, typically done online. You can use either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) payment method. Most popular brokers offer user-friendly platforms for this.

For instance, customers of many leading discount brokers can apply online using UPI as a payment gateway. The process generally involves logging into your broker’s platform, navigating to the IPO section, selecting the desired IPO, entering your UPI ID, quantity, and bid price, and finally approving the mandate via your UPI app.

Before You Invest: Important Considerations

Investing in an SME IPO involves a different risk-reward profile compared to mainboard IPOs. While they offer high growth potential, they can also be more volatile and have lower liquidity. It is always recommended to:

Conduct thorough due diligence by reviewing all available company documents.
Assess the company’s financial health, growth prospects, and competitive landscape.
Understand the industry trends and regulatory environment affecting the business.
Consider your personal investment goals and risk tolerance before committing capital.

Essential Contacts for Due Diligence

For any further queries or detailed information, you can reach out to the company or its associated intermediaries:

Company Address: Plot No 290 & 291, Dulapally Adjacent to Ida Jeedimetla, Quthbullapur, Rangareddi, Telangana, 500055
Phone: +91 8309404803
Email: info.snehaapharma@gmail.com
Website: https://snehaaorganics.com/ (Note: No active link, provided for reference)
Registrar: Skyline Financial Services Pvt.Ltd. (Oversees IPO application and allotment process)
Lead Manager: Fast Track Finsec Pvt.Ltd. (Guides the company through the IPO process)

Concluding Thoughts

Snehaa Organics Limited presents an intriguing investment opportunity in the niche yet vital solvent recovery market. With solid financials, a clear growth strategy, and a commitment to sustainability, the company aims to capitalize on expanding industrial needs. As with all investments, a careful evaluation of the company’s fundamentals, market dynamics, and personal risk appetite is paramount.

August 23, 2025

Abril Paper Tech Limited

Unlocking Potential: A Deep Dive into Abril Paper Tech IPO

Your Comprehensive Guide to an Exciting SME Investment Opportunity

The Indian stock market is abuzz with new opportunities, especially within the Small and Medium Enterprises (SME) sector. These enterprises often bring innovative business models and promising growth trajectories to the forefront. One such upcoming offering that has captured attention is the Initial Public Offering (IPO) of Abril Paper Tech Ltd. This detailed guide aims to provide a comprehensive analysis, helping you navigate the intricacies of this potential investment.

Printing the Future: Abril Paper Tech’s Innovative Edge

Abril Paper Tech Ltd., established in 2023, has quickly emerged as a significant player in the manufacturing of Sublimation Heat Transfer Paper. This specialized paper is a crucial component in the digital printing industry, enabling vibrant and durable prints on various materials.

The company produces a diverse range of papers, from 30 GSM to 90 GSM, in multiple sizes, catering to broad applications across:

Digital printing
Garments and textiles
Hosiery
Household furnishings like curtains and furniture

With its manufacturing facility strategically located in Palsana, Gujarat, Abril Paper Tech emphasizes several competitive strengths:

Unique product quality and consistency
Commitment to technological advancements
Wide geographical reach, serving diverse markets
Ability to offer customization and a broad range of products
Competitive pricing strategies

Decoding the IPO Details: Your Gateway to Investment

The Abril Paper Tech IPO is a fixed-price issue structured as an SME IPO. It aims to raise capital to fuel the company’s growth ambitions. Here’s a quick overview of the key details:

Particular	Detail
IPO Type	SME Fixed Price Issue
IPO Price	₹61 per share
Face Value	₹10 per share
Total Issue Size	22,00,000 shares (aggregating up to ₹13.42 Crores)
Issue Nature	Entirely a Fresh Issue
Listing Exchange	BSE SME
Book Running Lead Manager	Interactive Financial Services Ltd.
Registrar	Kfin Technologies Ltd.
Market Maker	B.N.Rathi Securities Ltd.

Investment Timeline: Charting Your Course

For potential investors, understanding the IPO timeline is crucial for planning your application and tracking the process. The Abril Paper Tech IPO follows a clear schedule:

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IPO Open

Aug 29, 2025

IPO Close

Sep 2, 2025

Allotment Finalization

Sep 3, 2025

Tentative Listing

Sep 5, 2025

Event	Date
IPO Open Date	Friday, August 29, 2025
IPO Close Date	Tuesday, September 2, 2025
Tentative Allotment Finalization	Wednesday, September 3, 2025
Initiation of Refunds	Thursday, September 4, 2025
Credit of Shares to Demat Account	Thursday, September 4, 2025
Tentative Listing Date	Friday, September 5, 2025
UPI Mandate Confirmation Cut-off	5 PM on September 2, 2025

Investment Snapshot: Lot Sizes and Application Specifics

SME IPOs typically have higher minimum investment requirements compared to Mainboard IPOs, largely due to the specified lot sizes. For Abril Paper Tech IPO, here’s how the investment minimums are structured:

Investor Category	Minimum Lot Size	Minimum Shares	Minimum Amount
Individual Investors (Retail)	2 Lots	4,000 Shares	₹2,44,000
High Net-worth Individuals (HNI)	3 Lots	6,000 Shares	₹3,66,000

The maximum investment for individual retail investors is 2 lots (4,000 shares), matching the minimum.

IPO Reservation Structure

The issue is structured to ensure participation from various investor segments. Out of the total 22,00,000 shares offered, the allocation is as follows:

Investor Category	Shares Offered	Percentage (%)
Market Maker	1,12,000	5.09%
Non-Institutional Investors (NII/HNI)	10,44,000	47.45%
Retail Individual Investors (RII)	10,44,000	47.45%
Total Shares Offered	22,00,000	100.00%

Financial Health Check: A Glimpse into Performance

Evaluating the financial performance of a company is vital for any investment decision. Abril Paper Tech has demonstrated impressive growth, as evidenced by its recent financial statements.

Between March 31, 2024, and March 31, 2025, the company’s revenue surged by an remarkable 792%, while its Profit After Tax (PAT) saw a robust increase of 230%.

Period Ended	March 31, 2025 (₹ Crore)	March 31, 2024 (₹ Crore)
Total Assets	12.97	8.13
Total Income	60.91	6.83
Profit After Tax (PAT)	1.41	0.43
EBITDA	2.01	0.61
Net Worth	10.52	5.64
Reserves and Surplus	4.74	0.43
Total Borrowing	1.07	0

Understanding Company Value: Key Performance Indicators

Beyond raw financial figures, Key Performance Indicators (KPIs) offer deeper insights into a company’s efficiency, profitability, and financial stability. As of March 31, 2025, Abril Paper Tech IPO has a market capitalization of ₹48.69 Crores. Here are some of its key metrics:

Key Performance Indicator (KPI)	Value (as of Mar 31, 2025)
Return on Equity (ROE)	18.03%
Return on Capital Employed (ROCE)	16.38%
Debt/Equity Ratio	0.10
Return on Net Worth (RoNW)	13.43%
Profit After Tax (PAT) Margin	2.32%
EBITDA Margin	3.30%
Price to Book Value	3.35

Earnings Per Share (EPS) and Price-to-Earnings (P/E) Ratio:

Metric	Pre-IPO	Post-IPO
EPS (₹)	2.44	1.77
P/E (x)	24.96	34.46

Strategic Growth: What the IPO Funds Will Achieve

The primary purpose of the Abril Paper Tech IPO is to raise capital for specific growth initiatives. The company plans to utilize the net proceeds from the issue for the following key objectives:

Capital Expenditure for New Machinery: A significant portion (₹5.40 Crores) is earmarked for purchasing new machinery, which will enhance production capacity and technological capabilities.
Working Capital Needs: ₹5.00 Crores will be allocated to meet the company’s working capital requirements, ensuring smooth day-to-day operations and facilitating business expansion.
General Corporate Purposes: ₹2.01 Crores is reserved for general corporate purposes, providing flexibility for strategic initiatives, business development, and unforeseen operational needs.

Leadership and Ownership: The Driving Force

The company is promoted by Vipul Dobariya, Ashvinbhai Lathiya, and Prince Lathiya, who are instrumental in guiding Abril Paper Tech’s vision and growth. The promoter holding structure before and after the IPO is as follows:

Holding Stage	Share Holding Percentage
Pre-Issue	85.20%
Post-Issue	61.71%

The dilution in promoter holding post-issue is a standard consequence of a fresh equity issuance, allowing for broader public participation and capital infusion.

SWOT Analysis: Navigating Strengths and Opportunities

A SWOT analysis provides a structured framework to evaluate the company’s internal and external factors, offering a balanced perspective for potential investors.

Strengths

Specialized Product Niche: Focus on sublimation heat transfer paper offers a specialized market with growing demand.
Modern Manufacturing Facility: Located in Gujarat, indicating access to industrial infrastructure and potential cost efficiencies.
Strong Financial Growth: Significant increases in revenue and PAT in recent fiscal years highlight operational efficiency and market acceptance.
Experienced Promoters: Leadership with a clear vision can be a strong asset for an SME.
Diversified Applications: Products cater to multiple industries (textile, garments, printing), reducing reliance on a single sector.

Weaknesses

Relatively New Company: Incorporated in 2023, the company has a limited operational history to assess long-term stability and resilience.
SME Listing Risks: Lower liquidity compared to mainboard listings, potentially making it harder to exit positions.
Capital Intensive Business: Manufacturing requires continuous investment in machinery and working capital.
Market Concentration: While applications are diverse, reliance on the digital printing industry’s health is a factor.

Opportunities

Growing Digital Printing Market: Increasing adoption of digital printing technologies globally drives demand for sublimation paper.
Expansion of Product Portfolio: Potential to introduce new types of specialty papers or related products.
Geographical Expansion: Opportunity to increase market share in under-penetrated regions or explore international markets.
Technological Advancements: Continuous innovation in manufacturing processes can lead to cost reduction and improved product quality.

Threats

Intense Competition: The paper manufacturing industry can be competitive, facing both domestic and international players.
Raw Material Price Volatility: Fluctuations in pulp, chemicals, and energy prices can impact profit margins.
Regulatory Changes: Environmental regulations or trade policies could affect production costs and market access.
Technological Obsolescence: Rapid changes in printing technology could necessitate continuous R&D and investment.
Economic Downturns: A general slowdown in the economy could impact demand for printing and textile products.

Before You Invest: Important Considerations

Investing in an IPO, especially an SME IPO, requires careful consideration. While Abril Paper Tech presents a promising growth story, it’s essential to perform your due diligence.

Understand the Risks: SME IPOs can carry higher risks due to smaller company size, limited public track record, and potentially lower trading liquidity post-listing.
Review the Prospectus: Always read the Red Herring Prospectus (RHP) thoroughly. It contains detailed information about the company, its business, financial performance, risks, and proposed use of funds.
Assess Your Investment Goals: Ensure that the investment aligns with your personal financial objectives and risk tolerance.
Market Conditions: Consider the broader market sentiment and industry outlook for the paper and digital printing sectors.

Connecting with the Company: Key Contacts

For further inquiries or information, you may reach out to the company or its registrar:

Abril Paper Tech Ltd. Contact Details

Address: 238/3, Shiva Ind. Estate, Jolva, Ta., Palsana, Surat, Gujarat, 394305
Phone: 0261-2990124
Email: info@abrilpapertech.com

IPO Registrar: Kfin Technologies Ltd.

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

August 23, 2025

Current Infraprojects Limited

Unpacking the Current Infraprojects IPO: Your Comprehensive Investment Guide

The Indian infrastructure and renewable energy sectors are buzzing with activity, and a new player is stepping into the public spotlight. Current Infraprojects Limited (CIPL) is gearing up for its Initial Public Offering (IPO), offering investors a chance to participate in its growth story. This detailed guide will walk you through everything you need to know about this upcoming SME IPO.

Understanding Current Infraprojects Limited: Powering Growth

Established in 2013, Current Infraprojects Limited is a diversified engineering company focused on infrastructure and renewable energy. It provides a comprehensive suite of Engineering, Procurement, and Construction (EPC) services across various domains, including:

Civil engineering projects
Mechanical engineering solutions
Electrical infrastructure development
Water engineering and management
Specialized services like interior works and road furniture

Beyond EPC, CIPL also offers expert Engineering Consulting for Mechanical, Electrical, and Plumbing (MEP) systems, alongside Project Management Consulting (PMC) services. Demonstrating a unique diversification, the company also operates in the hospitality sector by leasing its farmhouse property, YAHVI The Farmhouse.

With operations spanning 12 Indian states and a track record of completing projects totaling over ₹23,209 Lakhs as of July 31, 2025, CIPL has established a significant presence in its core markets.

Key Business Strengths:

Focused EPC Expertise: A clear specialization in EPC contracts enables efficiency and deep industry knowledge.
Quality Assurance: Possesses NABL Accreditation for its Quality Assurance Lab, underscoring a commitment to high standards.
Robust Order Book & Client Relationships: Benefits from a strong pipeline of orders, including repeat business, indicating stable and long-standing client relationships.

The Public Offering: Key Dates and Details

The Current Infraprojects IPO is a book-built issue designed to raise capital for the company’s expansion and operational needs. Here’s a quick overview of the essential details:

Anchor Bidding

Aug 25, 2025

IPO Open

Aug 26, 2025

IPO Close

Aug 29, 2025

Allotment Finalized

Sep 1, 2025

Listing Date

Sep 3, 2025

IPO Snapshot:

Detail	Information
Issue Price Band	₹76 to ₹80 per share
Face Value	₹10 per share
Issue Type	Book Building SME IPO
Total Issue Size	52,25,600 shares (aggregating up to ₹41.80 Cr)
Sale Type	Entirely a Fresh Issue
Listing At	NSE SME

Investment Lot Sizes:

For investors considering participation, understanding the lot size is crucial:

Investor Category	Minimum Lots	Minimum Shares	Minimum Amount
Individual Investors (Retail)	2	3,200	₹2,56,000
Small High Net-worth Individuals (sHNI)	3	4,800	₹3,84,000
Big High Net-worth Individuals (bHNI)	8	12,800	₹10,24,000

Share Allocation and Anchor Investor Insights

The IPO includes reservations for various investor categories to ensure broad participation:

Investor Category	Shares Offered	Percentage (%)
Market Maker	2,68,800	5.24%
Qualified Institutional Buyers (QIB)	24,22,400	47.25%
– Anchor Investors	14,52,800	28.34%
– QIB (Ex-Anchor)	9,69,600	18.91%
Non-Institutional Investors (NII)	7,29,600	14.23%
– bNII (> ₹10L)	4,86,400	9.49%
– sNII (< ₹10L)	2,43,200	4.74%
Retail Individual Investors (RII)	17,05,600	33.27%
Employees	99,200	1.94%
Total Shares Offered	51,26,400	100.00%

The company successfully raised ₹11.62 crore from anchor investors on August 25, 2025. These shares come with a lock-in period: 50% are locked in for 30 days (ending October 1, 2025), and the remaining for 90 days (ending November 30, 2025).

Operational Performance: A Financial Snapshot

Current Infraprojects Limited has demonstrated consistent growth in its financial performance. Here’s a look at the consolidated figures as of March 31, 2025:

Particulars	Amount (₹ Crore, as of Mar 31, 2025)
Assets	79.52
Total Income	91.33
Profit After Tax (PAT)	9.45
EBITDA	14.75
Net Worth	23.73
Reserves and Surplus	10.23
Total Borrowing	30.60

Examining the standalone financials reveals a positive trend over recent years:

Particulars (₹ Crore)	Mar 31, 2023	Mar 31, 2024
Assets	35.65	42.07
Total Income	61.06	77.73
Profit After Tax	1.49	5.09
EBITDA	3.31	8.31
Net Worth	9.19	14.27
Reserves and Surplus	6.19	5.27
Total Borrowing	8.83	12.18

Key Performance Indicators (KPIs):

A deeper dive into the company’s efficiency and valuation metrics (as of March 31, 2025):

Metric	Value
Market Capitalization	₹153.18 Cr
Return on Equity (ROE)	49.75%
Return on Capital Employed (ROCE)	26.49%
Debt/Equity Ratio	1.29
Return on Net Worth (RoNW)	39.84%
Profit After Tax (PAT) Margin	10.40%
EBITDA Margin	16.23%
Price to Book Value	4.55
Earnings Per Share (Pre-IPO)	₹6.79
Price/Earnings (P/E) Ratio (Pre-IPO)	11.78x
Earnings Per Share (Post-IPO)	₹4.94
Price/Earnings (P/E) Ratio (Post-IPO)	16.19x

Objectives of the Public Offering

The capital raised through this IPO will primarily be utilized for strategic growth initiatives:

Investment in Solar Plant: A significant portion (₹5.85 Crore) is earmarked for investment in its wholly-owned subsidiary, Current Infra Dhanbad Solar Private Limited, to set up an 1800 KW solar plant under the RESCO Model at IIT(ISM), Dhanbad, Jharkhand.
Working Capital Needs: A substantial amount (₹30 Crore) will be allocated to meet the company’s working capital requirements, essential for sustaining and expanding operations.
General Corporate Purposes: The remaining funds will be used for general corporate needs, providing flexibility for future growth and operational efficiency.

Leadership and Promoter Holdings

The company is promoted by a dedicated team comprising Mr. Sunil Singh Gangwar, Mrs. Sujata Gangwar, Mr. Satyavrat Singh, and Mr. Devvrath Singh. Their vision guides CIPL’s strategic direction and operational execution.

Holding Type	Percentage
Promoter Holding Pre-Issue	96.96%
Promoter Holding Post-Issue	70.50%

Strategic Outlook: A SWOT Analysis

Understanding a company’s position requires a balanced view of its internal strengths and weaknesses, as well as external opportunities and threats. Here’s a SWOT analysis for Current Infraprojects Limited:

Strengths:

Strong focus and expertise in diverse EPC segments (Solar, Electrical, Water, Civil).
Certified quality assurance processes (NABL accreditation).
Established client relationships and a robust order book indicating future revenue visibility.
Diversified revenue streams, including a venture into hospitality.
Experienced promoter group guiding the company.

Weaknesses:

The IPO is noted as “aggressively priced,” which might affect investor sentiment and listing performance.
Potential reliance on a limited number of large-scale projects or government contracts, which can introduce revenue volatility.
The SME platform might offer less liquidity compared to mainboard listings.
Geographical concentration in 12 states, leaving room for broader national expansion but also potential regional risks.

Opportunities:

Booming Indian infrastructure sector, fueled by government initiatives and private investment.
Significant growth potential in the renewable energy sector, especially solar, aligning with national green energy goals.
Expansion into new states or specialized EPC segments.
Leveraging existing expertise to bid for larger, more complex projects.
Potential for inorganic growth through strategic acquisitions.

Threats:

Intense competition from established players and other emerging companies in the infrastructure and EPC space.
Fluctuations in raw material costs (e.g., steel, cement, solar components) impacting project profitability.
Economic slowdowns or policy changes in infrastructure and renewable energy sectors.
Delays in project execution or payment cycles from clients.
Regulatory challenges and environmental compliance hurdles.

Applying for the IPO and Key Intermediaries

Prospective investors can typically apply for SME IPOs online through their stockbrokers using either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) payment methods. For a smooth application process, ensure your Demat and trading accounts are ready.

Important Contacts:

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

Lead Manager: Holani Consultants Pvt.Ltd.
Registrar: Bigshare Services Pvt.Ltd.
Company Address: Current Infraprojects Ltd., A-27, Basant Vihar, Vaishali Marg (West), Panchyawala, Jaipur, Rajasthan, 302034
Company Phone: 0141-6762066
Company Email: cs@currentinfra.com

Remember: Investing in IPOs, especially SME IPOs, carries inherent risks. It is advisable to conduct your own thorough due diligence, review the Red Herring Prospectus (RHP) carefully, and consult with a financial advisor before making any investment decisions.

Final Thoughts and Investment Outlook

Current Infraprojects Limited presents an intriguing opportunity in the flourishing Indian infrastructure and renewable energy sectors. With a solid foundation in EPC services, a growing financial track record, and a clear vision for utilizing the IPO proceeds, the company is positioned for continued expansion.

While the market has noted the issue’s valuation as potentially “aggressively priced,” the company’s strong order book (over ₹280 crore as of July 31, 2025) and specialized expertise provide a positive outlook for the medium to long term. As with any investment, a careful evaluation of the company’s fundamentals, sector dynamics, and personal risk appetite is paramount.

Happy investing!

August 23, 2025

Sattva Engineering Construction Limited

Sattva Engineering Construction IPO: Your Guide to a New Investment Opportunity

Charting the Course: A Deep Dive into the Sattva Engineering Construction IPO

The Indian financial landscape is buzzing with new investment opportunities, and the upcoming Initial Public Offering (IPO) of Sattva Engineering Construction Limited (SECL) is certainly catching the eye of investors. As a specialist in critical infrastructure projects, particularly in water and wastewater management, SECL presents a unique proposition.

This blog post will provide a comprehensive analysis of the Sattva Engineering Construction IPO, examining its business model, financial health, offering details, and potential outlook. Whether you’re a seasoned investor or new to the IPO market, understanding these key aspects is crucial for making informed decisions.

About Sattva Engineering Construction Limited (SECL)

Established in December 2005, Sattva Engineering Construction Limited is a Chennai-based Engineering, Procurement, and Construction (EPC) firm with a robust focus on water infrastructure, wastewater management, and significant industrial and civil construction projects. Leveraging over four decades of industry experience, SECL has cemented its reputation as a leading Class I contractor, frequently partnering with prominent government bodies.

The company’s diverse service portfolio includes:

Water and Wastewater Solutions: Expertise in designing and constructing comprehensive water distribution networks, pumping mainlines, overhead and underground storage tanks, as well as state-of-the-art water and sewage treatment plants and pumping stations.
Industrial and Civil Infrastructure: Development of essential facilities like factory buildings, expansive warehouses, efficient container freight stations, and modern commercial complexes.
Residential Developments: Engaging in the design and promotion of multi-storey residential apartments, deluxe living spaces, residential flats, and independent bungalows, significantly contributing to urban development.

SECL’s impressive client roster features key government entities and public sector undertakings such as CMWSSB, TWAD, PWD, Greater Chennai Corporation, Southern Railway, and BHEL, underscoring its pivotal role in public infrastructure development.

Key Business Strengths

SECL’s competitive edge is built on several foundational strengths:

Integrated Capabilities: Strong in-house designing, engineering, and execution teams ensure efficient project delivery.
Technological Adoption: Utilizes advanced technologies for the construction and installation of Sewage Treatment Plants (STP) and Water Treatment Plants (WTP).
Reputable Funding: Projects are often supported by major international financial institutions, including the Asian Development Bank and the World Bank, highlighting robust project viability and credibility.
Experienced Leadership: Guided by seasoned promoters and a highly capable senior management team.
Robust Order Book: Maintains a strong and diverse order book, reflecting consistent business demand and future revenue visibility. As of March 31, 2025, the company had orders worth over ₹308 crore.

Sattva Engineering Construction IPO: The Offering at a Glance

The Sattva Engineering Construction IPO is a book-built issue, entirely composed of a fresh issuance of shares. Here’s a quick overview of the key details:

Detail	Information
Issue Type	SME IPO (Book Building)
Fresh Issue Size	47,16,800 shares (aggregating ₹35.38 Crores)
Face Value	₹10 per equity share
Price Band	₹70 to ₹75 per share
Listing Exchange	NSE SME

Important Dates for Investors

Understanding the IPO timeline is crucial for planning your application and tracking its progress. Here’s the tentative schedule for the Sattva Engineering Construction IPO:

August 26, 2025 IPO Open Date

August 29, 2025 IPO Close Date

September 1, 2025 Tentative Allotment

September 2, 2025 Refunds/Demat Credit

September 3, 2025 Tentative Listing

Understanding the Lot Size and Application Details

Investors need to apply for shares in specific lot sizes. Here’s a breakdown of the minimum and maximum investment requirements for different investor categories:

Investor Category	Minimum Lots	Minimum Shares	Minimum Investment Amount (at upper price band)
Individual Investors (Retail)	2	3,200	₹2,40,000
Small HNI (S-HNI)	3	4,800	₹3,60,000
Big HNI (B-HNI)	9	14,400	₹10,80,000

*Please note: The maximum application for individual retail investors is set at 2 lots (3,200 shares), aligning with the minimum lot size for this category in SME IPOs.*

IPO Reservation Structure

The shares are allocated across different investor categories as follows:

Qualified Institutional Buyers (QIB): Not more than 50% of the Net Issue.
Retail Individual Investors (RII): Not less than 35.00% of the Net Issue.
Non-Institutional Investors (NII): Not less than 15% of the Net Issue.
Market Maker Portion: 2,40,000 shares (aggregating up to ₹1.80 Cr) are reserved for Rikhav Securities Ltd.

Financial Performance Review

Sattva Engineering Construction Ltd. has demonstrated a commendable financial trajectory. The company reported significant growth in its top and bottom lines, particularly in recent fiscal years.

Financial Metric (₹ Crore)	March 31, 2025	March 31, 2024	March 31, 2023
Total Assets	114.82	87.48	83.38
Total Income	94.85	77.44	83.93
Profit After Tax (PAT)	9.14	4.56	1.04
EBITDA	18.56	11.72	7.28
Net Worth	43.42	24.03	19.47
Total Borrowing	36.17	32.20	32.24
Between FY2024 and FY2025, the company’s revenue grew by 22%, and its Profit After Tax (PAT) impressively surged by 100%.

Key Performance Indicators (KPIs) and Valuation

As of March 31, 2025, the company’s market capitalization stands at ₹131.01 Crore. A closer look at the key performance indicators reveals:

KPI (As of March 31, 2025)	Value
Return on Equity (ROE)	27.10%
Return on Capital Employed (ROCE)	28.58%
Debt/Equity Ratio	0.83
Return on Net Worth (RoNW)	27.10%
PAT Margin	9.64%
EBITDA Margin	19.82%
Price to Book Value	2.20

When considering valuation multiples, here’s how the company stands pre and post-IPO (based on latest FY earnings):

Metric	Pre-IPO	Post-IPO (at upper price band)
Earnings Per Share (EPS)	₹7.17	₹5.23
Price to Earnings (P/E) Ratio	10.46x	14.34x

The post-IPO P/E ratio, while higher than pre-IPO due to equity dilution, suggests the issue is reasonably priced given the company’s growth trajectory and sector prospects.

Promoter Group and Shareholding

The promoters of Sattva Engineering Construction Ltd. are Santhanam Seshadri, R Sekar, and Jagachchandarr Sekar Uthra. They collectively held 86.18% of the company’s shares before the IPO. Post-issue, their holding will naturally see a proportional dilution due to the fresh issue of shares to the public.

Purpose of the IPO Funds

The net proceeds from the Sattva Engineering Construction IPO are earmarked for strategic objectives aimed at fueling the company’s growth:

Long-term Working Capital: A substantial portion of ₹275 million is allocated to meet the company’s long-term working capital requirements, essential for managing its expanding project portfolio and operational needs.
General Corporate Purposes: The remaining funds will be utilized for various general corporate purposes, which may include strategic investments, inorganic growth initiatives, or other operational expenditures.

SWOT Analysis: Assessing SECL’s Landscape

A SWOT analysis provides a balanced perspective on the company’s current position and future potential.

Strengths

Strong track record and extensive experience of over 40 years in EPC, particularly in water infrastructure.
Robust client relationships with government bodies and PSUs, ensuring a stable flow of projects.
Demonstrated financial growth with a 100% PAT increase and 22% revenue growth in the last fiscal year.
Strategic advantages from advanced technology adoption and partnerships with international funding agencies.
Substantial order book providing revenue visibility and operational stability.

Weaknesses

Significant reliance on government projects, which can be susceptible to policy changes, bureaucratic delays, and payment cycles.
The EPC sector is capital-intensive, requiring continuous access to funds for project execution.
Geographical concentration primarily in Tamil Nadu could limit diversification benefits and expose the company to regional economic fluctuations.
Competitive intensity from larger, more established players in the infrastructure sector.

Opportunities

Growing demand for water infrastructure and wastewater management solutions across India, driven by urbanization and government initiatives (e.g., Jal Jeevan Mission).
Expansion into new geographical regions or diversifying into related infrastructure segments.
Leveraging existing expertise to bid for larger, more complex national and international projects.
Potential for technological upgrades and digital transformation in project management to enhance efficiency.

Threats

Fluctuations in the prices of raw materials (steel, cement, labor) can impact project profitability.
Economic slowdowns or shifts in government spending priorities could reduce infrastructure project allocations.
Intense competition leading to bidding wars and margin pressures.
Regulatory changes or environmental clearances can cause project delays and cost overruns.
High interest rates could increase borrowing costs for working capital and project financing.

How to Participate in the IPO

Interested investors can apply for the Sattva Engineering Construction IPO through various platforms:

Online Brokers: Leading brokerage firms offer online IPO application services via their trading platforms or back-office portals (e.g., using UPI as a payment gateway).
ASBA through Banks: Applications can also be made through the ASBA (Application Supported by Blocked Amount) facility available in the net banking portals of most major banks.

For specific guidance on applying, investors should refer to their respective broker’s or bank’s IPO application procedures.

Key Intermediaries for the IPO

The IPO process is facilitated by several key intermediaries:

Book Running Lead Manager: Vivro Financial Services Pvt.Ltd.
Registrar to the Issue: MUFG Intime India Pvt.Ltd. (Website: https://linkintime.co.in/Initial_Offer/public-issues.html)
Company Contact:
- Address: Greams Dugar, 4th floor, North Wing, Old No. 149, New No. 64, Greams Road Thousand Lights, Chennai, Tamil Nadu, 600006
- Phone: +91-80 1555 6979
- Email: investor.relation@sattvaengg.in
- Website: https://sattvaengg.in/

Final Thoughts for Potential Investors

Sattva Engineering Construction Limited stands out with its long-standing presence and expertise in a critical infrastructure sector, demonstrating robust financial growth and a strong order book. While the issue appears to be priced to reflect its recent performance, its focus on essential services like water and wastewater management, coupled with a track record of government projects and international funding, positions it favorably for long-term growth.

Investors with a long-term perspective and an understanding of the infrastructure sector might find SECL an interesting proposition. As with any investment, it is recommended to conduct your own due diligence and consult with a financial advisor to align the opportunity with your personal investment goals and risk tolerance.

August 23, 2025

Globtier Infotech Limited

Navigating the Digital Frontier: An Insight into Globtier Infotech’s Upcoming IPO

The Indian capital markets are abuzz with the impending debut of Globtier Infotech Limited on the SME platform. As businesses worldwide accelerate their digital transformation journeys, companies like Globtier Infotech, specializing in managed IT and SAP support services, stand at a crucial juncture. This blog post delves into the specifics of their initial public offering, offering a comprehensive analysis to help you make informed investment decisions.

From understanding their business model to scrutinizing financial performance and future prospects, we’ll cover all the essential aspects of this noteworthy SME IPO. Get ready to explore the details that matter!

Globtier Infotech: Powering Digital Excellence

Established in 2012, Globtier Infotech Limited has carved a niche as a managed IT and SAP support service provider, based out of Noida, Uttar Pradesh, India. The company’s mission revolves around boosting business performance through innovative workflows and state-of-the-art technology solutions. With a decade-long track record, they emphasize client-centric approaches and customized service delivery.

The Company’s Core Offerings

IT Facilities Management (FMS) Support: Ensuring robust IT infrastructure, optimizing resources, and safeguarding data centers.
Application Support: Comprehensive services including management, rollout, and training to enhance IT operational efficiency.
Application Development: Crafting custom web and mobile applications, alongside specialized SAP RICEFW solutions.
Digital Transformation: Driving modernization through AI, automation, data analytics, and cognitive services.
Cloud Solutions: Offering consulting, managed services, migration, and automation for seamless cloud adoption.

The company primarily serves small, midsize, and startup enterprises across diverse business verticals and employs 707 full-time professionals as of March 31, 2025.

Distinctive Edge

Globtier Infotech highlights several competitive advantages:

Building and maintaining strong, long-term client relationships.
Providing highly customized solutions tailored to specific client needs.
Possessing a deep understanding and application of evolving technology trends.

Decoding the IPO Opportunity

Globtier Infotech’s IPO is structured as a Fixed Price Issue, aiming to raise capital for its growth initiatives.

Essential IPO Parameters

Detail	Description
IPO Opening Date	August 25, 2025
IPO Closing Date	August 28, 2025
Issue Price	₹72 per share
Face Value	₹10 per share
Total Issue Size	43,12,000 shares (₹31.05 Crores)
Issue Type	Fixed Price IPO
Listing At	BSE SME

The IPO Journey: A Visual Timeline

Here’s a look at the important dates for Globtier Infotech’s IPO:

Aug 25, 2025

IPO Open

Aug 28, 2025

IPO Close

Aug 29, 2025

Allotment Finalized

Sep 1, 2025

Refunds / Demat Credit

Sep 2, 2025

Listing Date

Investment Landscape: Numbers and Allocation

Structuring the Offer

The total issue of ₹31.05 Crores comprises both new shares and existing shares being sold:

Fresh Issue: 0.38 crore shares, aggregating to ₹27.44 Crores.
Offer for Sale (OFS): 0.05 crore shares, aggregating to ₹3.61 Crores.

Investor Participation & Share Distribution

Investor Category	Shares Offered	Percentage (%)
Non-Institutional Investors (HNI)	20,40,000	47.31%
Retail Individual Investors	20,48,000	47.50%
Market Maker Portion	2,24,000	5.19%
Total	43,12,000	100.00%

Minimum Investment Pathways

Investors can apply in specific lot sizes. Here’s the breakdown:

Investor Category	Minimum Lots	Shares	Amount (₹)
Retail Individual Investors (Min)	2	3,200	2,30,400
HNI (Min)	3	4,800	3,45,600

The lot size for an application is 1,600 shares.

A Deep Dive into Financial Health

Understanding the financial performance is crucial for any potential investor. Here’s a snapshot of Globtier Infotech’s restated consolidated financials:

Performance at a Glance (Amount in ₹ Crores)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	53.93	43.14	33.01
Total Income	94.81	88.27	86.61
Profit After Tax (PAT)	5.50	3.74	3.35
EBITDA	11.77	7.56	6.71
Net Worth	20.29	14.56	10.82
Total Borrowing	12.21	12.60	8.06

Growth Trajectories & Profitability

Globtier Infotech has demonstrated consistent growth. Between FY24 and FY25, total income rose by 7%, while Profit After Tax (PAT) saw a substantial increase of 47%. This indicates improved operational efficiency and a healthier bottom line. Assets have also steadily grown, reflecting business expansion.

Key Efficiency Indicators (KPIs) (as of March 31, 2025)

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

Indicator	Value
Market Capitalization	₹108.87 Crores
Return on Equity (ROE)	31.55%
Return on Capital Employed (ROCE)	47.68%
Debt/Equity Ratio	0.60
Profit After Tax Margin	5.82%
EBITDA Margin	12.47%

Understanding the Valuation

Comparing Earnings Per Share (EPS) and Price-to-Earnings (P/E) ratios pre and post-IPO:

Metric	Pre-IPO	Post-IPO
EPS (Rs)	4.86	3.63
P/E (x)	14.82	19.81

The post-IPO P/E ratio of 19.81 suggests a higher valuation post-listing, which is common for growth-oriented companies entering the public market.

Strategic Use of Capital (Issue Objectives)

Globtier Infotech aims to utilize the net proceeds from this IPO to fuel its strategic growth and strengthen its financial position. The key objectives are:

Funding the company’s working capital requirements (₹11.50 Crores).
Repayment or prepayment of certain existing loans (₹8.30 Crores).
Addressing general corporate purposes (₹4.09 Crores).

These objectives indicate a focus on operational stability and reducing debt burden, paving the way for future expansion.

Leadership & Shareholding Structure

Meet the Promoters

The guiding force behind Globtier Infotech Limited includes Rajiv Shukla, Rekha Shukla, and Rahul Shukla, who are the key promoters of the company.

Evolving Promoter Ownership

The shareholding pattern will see a shift post-IPO:

Pre-Issue Promoter Holding: 99.87%
Post-Issue Promoter Holding: 71.39%

This change reflects the dilution of promoter stake as new equity is issued to the public and shares are offered for sale, a standard process in an IPO.

Strengths, Challenges, and Market Outlook (SWOT Perspective)

Core Strengths

Established Client Relationships: A decade of operations has likely built strong, loyal client bases.
Customized Solutions: Ability to tailor services caters to diverse client needs, fostering client satisfaction and retention.
Technological Prowess: A stated understanding of technology ensures relevance and innovation in a dynamic IT landscape.
Consistent Financial Growth: Demonstrating growth in both revenue and profit across recent fiscal years.
High Return Ratios: Healthy ROE and ROCE indicate efficient capital utilization.

Potential Challenges

Highly Competitive Market: The IT and SAP support sector is fragmented and intensely competitive.
Dependency on Client Relationships: While a strength, over-reliance on a few key clients could pose a risk if relationships sour.
SME Platform Liquidity: Shares listed on the SME platform might experience lower liquidity compared to mainboard listings.
Valuation Scrutiny: Significant jumps in financial performance immediately prior to an IPO often warrant thorough examination by investors.

Growth Avenues

Expanding Digital Transformation Market: Continuous demand for AI, automation, and data analytics services.
Cloud Adoption Surge: Businesses increasingly migrating to cloud platforms, creating opportunities for cloud solution providers.
Cybersecurity Demand: Enhanced focus on cybersecurity services offers a growing revenue stream.
Geographic Expansion: Potential to expand services to new regions or international markets.

External Influences

Technological Shifts: Rapid advancements can necessitate continuous investment in R&D and skill upgrades.
Economic Downturns: Global or domestic economic slowdowns could impact IT spending by client companies.
Talent Acquisition & Retention: The IT sector faces challenges in attracting and retaining skilled professionals.
Regulatory Changes: Evolving data privacy and IT service regulations could affect operations.

Participating in the IPO: A Guide

For those interested in applying for the Globtier Infotech IPO, the process typically involves online platforms offered by various brokers. Investors can generally use either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) methods.

General Steps for IPO Application:

Log in to your broker’s trading platform or net banking portal.
Navigate to the ‘IPO’ section.
Select ‘Globtier Infotech IPO’ from the available issues.
Enter your bid details (UPI ID for UPI method, quantity, and price).
Submit your application.
For UPI applications, approve the mandate request on your UPI app by the specified cut-off time.

Ensure you have an active Demat account linked to your trading account to receive allotted shares.

Conclusion: Your Investment Compass

Globtier Infotech Limited’s IPO presents an opportunity to invest in a growing IT and SAP support services company. With its consistent financial performance, diverse service offerings, and clear objectives for capital utilization, the company appears poised for further expansion in the dynamic digital landscape.

However, like all investments, especially in the SME segment, it comes with its own set of considerations, including market competition and liquidity. Market observers note that a significant surge in financial performance just before an IPO warrants careful examination. While the offer price aligns with recent data, it appears to be on the higher side. Prudent investors might consider allocating a modest portion of their portfolio for a medium-term outlook, after conducting their due diligence.

Ultimately, a well-rounded investment decision requires careful evaluation of the company’s fundamentals, market conditions, and individual risk appetite. This IPO could be an interesting proposition for those looking to tap into the thriving Indian IT services sector.

Important Contacts

Company Contact: Globtier Infotech Ltd., B-67, 3rd Floor, Sector 67, Gautam Buddha Nagar, Noida, Uttar Pradesh, 201301. Phone: +91 120 3129384, Email: ipo@globtierinfotech.com
Registrar to the Issue: Skyline Financial Services Pvt.Ltd.
Lead Manager to the Issue: Shannon Advisors Pvt.Ltd.

August 23, 2025

NIS Management Limited

Navigating the NIS Management IPO: A Detailed Investor’s Guide

As the Indian financial markets continue to buzz with new opportunities, Initial Public Offerings (IPOs) remain a fascinating avenue for investors looking to participate in a company’s growth story from its early stages. This guide delves into the upcoming SME IPO of NIS Management Limited, a Kolkata-based firm specializing in security and facility management. We’ll explore its business, financial health, key IPO details, and what prospective investors should consider.

Unveiling NIS Management: An Overview

Established in 1985, NIS Management Limited has grown significantly to become a prominent player in the security and facility management sector. From a modest start, the company now operates with a substantial presence, offering a comprehensive suite of services.

Core Services Offered

**Security Services:** Providing round-the-clock vigilance, night patrols, fire and safety training, and efficient help desk operations.
**Integrated Facility Management:** Streamlining various facility contracts under a single system to enhance operational efficiency, communication, and oversight for growing organizations.
**Housekeeping Services:** Managing extensive employee databases, processing attendance, leaves, overtime, monthly reimbursements, and salary changes for new recruits.
**Payroll Processing:** Comprehensive solutions for managing employee payroll accurately and efficiently.

Distinctive Strengths

Strong foothold and efficient manpower sourcing within its operating regions.
High ratio of core supervisory staff to on-ground associates, indicating robust management.
Utilization of a mobile application for attendance tracking, enhancing operational transparency and efficiency.
Implementation of QR Code technology for real-time employee monitoring.
Recognition as an NSDC (National Skill Development Corporation) Certified Training Provider, underscoring its commitment to quality workforce development.

Decoding the Initial Public Offering

The NIS Management IPO is a book-built issue set to be listed on the BSE SME platform. Here’s a quick glance at the essential details for prospective investors.

Key Offering Parameters

Parameter	Details
Issue Type	Book Building SME IPO
Face Value	₹10 per share
Price Band	₹105 to ₹111 per share
Total Issue Size	54,06,000 shares (up to ₹60.01 Crores)
Fresh Issue Component	43,32,000 shares (up to ₹48.09 Crores, ex-market maker)
Offer for Sale (OFS) Component	7,44,000 shares (up to ₹8.26 Crores)
Listing Exchange	BSE SME

Key Dates for Your Calendar

Mark these important dates if you’re planning to participate in the NIS Management IPO:

IPO Opens

Mon, Aug 25, 2025

IPO Closes

Thu, Aug 28, 2025

Allotment Finalized

Fri, Aug 29, 2025

Shares Credited

Mon, Sep 1, 2025

Listing Date

Tue, Sep 2, 2025

Investment Lot Size and Funding Requirements

Investors can apply for shares in specific lot sizes. Here’s a breakdown of the minimum and maximum investment amounts for different investor categories:

Investor Category	Min. Lots	Shares	Amount (at upper band)
Individual Investor (Retail) – Minimum	2	2,400	₹2,66,400
Individual Investor (Retail) – Maximum	2	2,400	₹2,66,400
S-HNI (Small High Net-worth Individual) – Minimum	3	3,600	₹3,99,600
S-HNI (Small High Net-worth Individual) – Maximum	7	8,400	₹9,32,400
B-HNI (Big High Net-worth Individual) – Minimum	8	9,600	₹10,65,600

Purpose of the Fundraise

NIS Management Limited intends to utilize the net proceeds from this IPO primarily for:

Meeting its working capital requirements, which are crucial for day-to-day operations and business expansion.
General corporate purposes, allowing the company flexibility for future strategic initiatives.

Financial Health and Valuation Insights

Analyzing a company’s financials is paramount for any investment decision. Here’s a summary of NIS Management’s performance over recent fiscal years.

Performance at a Glance (₹ in Crores)

Particulars	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023
Total Assets	255.11	247.44	225.72
Total Income	405.33	380.06	341.93
Profit After Tax (PAT)	18.67	18.38	16.14
EBITDA	26.30	31.12	28.32
Net Worth	152.00	132.94	114.55
Total Borrowing	83.78	91.11	87.22

NIS Management has demonstrated consistent revenue growth, with Total Income increasing from ₹341.93 crores in FY23 to ₹405.33 crores in FY25. However, the Profit After Tax (PAT) growth has been more modest, showing a significant jump from FY23 to FY24 but then stabilizing between FY24 and FY25 despite continued revenue expansion. This suggests a need to look deeper into efficiency and cost management.

Key Performance Metrics (as of Mar 31, 2025)

KPI	Value
Return on Equity (ROE)	13.10%
Return on Capital Employed (ROCE)	17.63%
Debt/Equity Ratio	0.55
PAT Margin	4.64%
EBITDA Margin	6.54%
Price to Book Value	0.61

The company’s Debt/Equity ratio of 0.55 indicates a manageable debt level. The PAT margin and EBITDA margin suggest a decent operational efficiency, though potential investors might look for consistency and growth in these figures.

Valuation Ratios (Market Capitalization: ₹219.78 Cr)

Ratio	Pre-IPO	Post-IPO
EPS (₹)	12.15	9.29
P/E (x)	9.13	11.94

The post-IPO P/E ratio of 11.94, compared to its pre-IPO standing, suggests the offering is priced factoring in future growth expectations, and investors should assess this against industry benchmarks.

Promoter Commitment & Share Allocation

Understanding the promoter group and how shares are reserved helps in gauging the company’s internal stability and the IPO’s structure.

Meet the Promoter Group

The guiding hands behind NIS Management Limited include Mr. Debajit Choudhury, Ms. Rina Choudhury, Ms. Susmita Mukherjee, Ms. Debahuti Chatterjee, and Ms. Nita Dey. Their continued involvement is reflected in the promoter holding.

Shareholding Dynamics

Shareholding Stage	Percentage
Pre-Issue Promoter Holding	95.99%
Post-Issue Promoter Holding	69.63%

The reduction in promoter holding post-issue is typical for an IPO, representing the dilution from the fresh issue of shares to the public.

IPO Reservation Structure

The total issue of 54,06,000 shares is allocated across different investor categories as follows:

Investor Category	Shares Offered	Percentage (%)
Market Maker	3,30,000	6.10%
Qualified Institutional Buyers (QIB)	25,14,000	46.50%
Anchor Investors	15,06,000	27.86%
QIB (Ex-Anchor)	10,08,000	18.65%
Non-Institutional Investors (NII)	7,74,000	14.32%
bNII (> ₹10 Lakhs)	5,16,000	9.54%
sNII (< ₹10 Lakhs)	2,58,000	4.77%
Retail Individual Investors (RII)	17,88,000	33.07%
Total Shares Offered	54,06,000	100.00%

Anchor Investor Participation

NIS Management IPO successfully garnered ₹16.72 crores from anchor investors on August 22, 2025, demonstrating confidence from institutional participants. A total of 15,06,000 shares were allocated to these investors, subject to standard lock-in periods (50% for 30 days, remaining for 90 days).

Strategic Outlook: A SWOT Perspective

A strategic analysis helps in understanding the internal and external factors influencing the company’s future prospects.

Strengths

**Established Market Presence:** Decades of experience since 1985 provide credibility and a strong foundation in the security and facility management sectors.
**Diverse Service Portfolio:** A wide array of services mitigates risk by not relying on a single revenue stream and caters to varied client needs.
**Technological Adoption:** Use of mobile apps and QR codes for monitoring enhances operational efficiency, transparency, and client trust.
**Skilled Workforce:** With over 16,000 employees and NSDC certification for training, the company demonstrates strong human capital and commitment to quality service delivery.
**Regional Dominance:** A significant presence across 14 branches, particularly in Kolkata, allows for tailored local services and efficient resource deployment.

Weaknesses

**Stagnant Profit Growth:** While revenue has grown, the flat PAT figures in recent years suggest potential challenges in cost management or pricing power.
**Manpower-Intensive Business:** High dependency on a large workforce can lead to challenges with wage inflation, labor laws, and employee retention.
**SME Listing:** Generally implies lower liquidity and higher volatility compared to mainboard listings, which might deter some institutional investors.
**Regional Concentration:** While a strength, a strong regional focus could also limit rapid national expansion without significant investment.

Opportunities

**Growing Demand:** The increasing need for professional security and integrated facility management services across industries and geographies in India.
**Digital Transformation:** Further leveraging technology for service delivery, customer relationship management, and operational analytics can enhance efficiency and client satisfaction.
**Expansion into New Markets:** Utilizing IPO proceeds to expand into other high-growth urban centers in India.
**Diversification:** Exploring adjacent service lines or value-added services to enhance revenue streams and margins.

Threats

**Intense Competition:** The security and facility management sector is highly fragmented with numerous organized and unorganized players, leading to pricing pressures.
**Economic Downturns:** Economic slowdowns can lead to reduced corporate spending on non-core services, impacting demand.
**Regulatory Changes:** Changes in labor laws, security regulations, or other industry-specific compliance requirements could increase operational costs.
**Talent Retention:** Attracting and retaining a large, skilled workforce in a competitive labor market remains a challenge.

Investor Resources & Key Contacts

For detailed information and application processes, it’s essential to be aware of the key intermediaries involved.

IPO Intermediaries

**Book Running Lead Manager:** Share India Capital Services Pvt.Ltd.
**Registrar to the Issue:** Maashitla Securities Pvt.Ltd.
**Market Maker:** Share India Securities Ltd.

Company & Registrar Contact Information

**NIS Management Ltd.**
01st Floor, Fl-1A(W) 489 Madurdaha, Kalikapur, Kolkata, West Bengal, 700107
Phone: +91-9836205111
Email: info@nis.co.in
Website: nis.co.in

**Maashitla Securities Pvt.Ltd. (Registrar)**
Phone: +91-11-45121795-96
Email: Investor.ipo@maashitla.com
Website: maashitla.com/allotment-status/public-issues

Applying for the IPO

Most investors can apply for IPOs online through their existing brokerage accounts using either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) payment methods. It is advisable to consult with your broker for the specific application process and ensure all details are accurate before submitting your bid.

Concluding Thoughts for Prospective Investors

The NIS Management IPO presents an opportunity to invest in a well-established company within the growing security and facility management sector. While its consistent revenue growth and strong regional presence are appealing, investors should carefully consider the recent stabilization in profit growth. The IPO valuation appears to be fair, reflecting the company’s current standing and future potential.

As with any investment, a thorough review of the RHP (Red Herring Prospectus) is crucial. Evaluating the company’s competitive landscape, management’s ability to drive future profitability, and the overall market sentiment for SME listings will be key to making an informed decision. Investors with a medium to long-term horizon who are comfortable with the dynamics of the SME segment might find this offering interesting after their due diligence.

August 23, 2025

Anondita Medicare Limited

Anondita Medicare IPO: A Comprehensive Review for Investors

Unveiling Anondita Medicare IPO: Your Guide to a New Investment Opportunity

The Indian primary market is abuzz with activity, and a fresh wave of investment opportunities is on the horizon. Among them, Anondita Medicare Limited is stepping into the spotlight with its upcoming SME Initial Public Offering (IPO). This comprehensive guide delves into the specifics of Anondita Medicare’s business, its financial health, the details of its IPO, and what it could mean for potential investors.

Seeking a new investment? Anondita Medicare, a manufacturer of male condoms under the ‘COBRA’ brand, is launching its IPO soon. Let’s break down the details so you can make an informed decision.

Anondita Medicare: At a Glance

Founded in March 2024, Anondita Medicare Limited quickly established itself in the healthcare sector, specifically focusing on the manufacturing of flavored male condoms. Operating under its distinctive brand, “COBRA,” the company boasts an impressive annual production capacity of 562 million condoms from its state-of-the-art facility in Noida, Uttar Pradesh.

Beyond the domestic market, Anondita Medicare actively engages in international trade, exporting its products to key regions including Southeast Asia, Africa, and the Middle East. The company prides itself on collaborating with various global health organizations, NGOs, and government bodies to bolster family planning and public health initiatives, demonstrating a commitment beyond commercial gains. With a robust distribution network encompassing wholesalers, retailers, and e-commerce platforms, coupled with strong ties to government health programs, Anondita Medicare ensures its products are widely accessible. As of July 31, 2025, the company employed a dedicated team of 280 individuals.

Key Business Strengths

Strong position as a significant condom manufacturer in India, particularly recognized in North India.
Offers a diverse range of products, catering to varied consumer preferences within its niche.
Strategic collaborations with health organizations provide a stable demand base and enhance market penetration.

Decoding the Anondita Medicare IPO

The Anondita Medicare IPO is structured as an SME (Small and Medium Enterprise) Book Built Issue. This means the price is determined through a bidding process by investors. The company aims to raise capital primarily through a fresh issuance of shares.

Essential IPO Details

Aspect	Detail
Issue Type	SME Book Built Issue
Issue Size	4,793,000 shares (₹69.50 Crores)
Face Value	₹10 per share
Price Band	₹137 to ₹145 per share
Minimum Lot Size	1,000 shares
Listing At	NSE SME
Lead Manager	Narnolia Financial Services Ltd.
Registrar	Maashitla Securities Pvt.Ltd.
Market Maker	Mansi Share & Stock Broking Pvt.Ltd.

Important Dates for Your Calendar

Timing is crucial when it comes to IPO applications and tracking. Here’s a tentative timeline for the Anondita Medicare IPO:

Anchor Bid

Aug 21, 2025

IPO Open

Aug 22, 2025

IPO Close

Aug 26, 2025

Allotment Finalization

Aug 28, 2025

Shares Credited

Aug 29, 2025

Tentative Listing

Sep 1, 2025

Remember to mark these dates and ensure your UPI mandate is confirmed by the cut-off time on the closing date.

Investment Lot Sizes and Amounts

For individual investors, understanding the minimum and maximum investment requirements is key:

Investor Category	Minimum Shares	Minimum Amount	Maximum Shares (if applicable)	Maximum Amount (if applicable)
Individual Investors (Retail)	2,000	₹2,90,000	2,000	₹2,90,000
Small HNI (S-HNI)	3,000	₹4,35,000	6,000	₹8,70,000
Big HNI (B-HNI)	7,000	₹10,15,000	–	–

Please note that the amounts are calculated based on the upper end of the price band (₹145 per share).

Behind the Numbers: Financial Performance & Objectives

Robust Financial Growth

Anondita Medicare Limited has demonstrated impressive financial performance. A glance at its recent financials reveals significant growth across key metrics:

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets (₹ Cr)	78.27	42.92	37.80
Total Income (₹ Cr)	77.13	46.56	36.14
Profit After Tax (PAT) (₹ Cr)	16.42	3.84	0.35
EBITDA (₹ Cr)	25.65	9.09	3.58
Net Worth (₹ Cr)	37.87	10.59	8.69
Total Borrowing (₹ Cr)	27.39	24.01	22.66

The company recorded a substantial 66% increase in total income and a remarkable 327% surge in Profit After Tax (PAT) between the financial years ending March 31, 2024, and March 31, 2025. This indicates strong operational efficiency and business scaling.

Key Performance Indicators (KPIs)

As of March 31, 2025, Anondita Medicare’s key performance indicators paint a positive picture:

KPI	Value (as of Mar 31, 2025)
Return on Equity (ROE)	41.71%
Return on Capital Employed (ROCE)	37.42%
Debt/Equity Ratio	0.70
Profit After Tax Margin	21.32%
EBITDA Margin	33.32%
Price to Book Value	15.07
Market Capitalization	₹262.26 Crore

The low Debt/Equity ratio, combined with high profitability margins and returns on equity/capital, suggests a financially sound and efficiently managed company.

Purpose of the IPO Funds

The funds raised through this IPO will be strategically utilized by Anondita Medicare to fuel its growth and expansion plans:

**Capital Expenditure:** A portion of the proceeds will be invested in purchasing new equipment and machinery, enhancing manufacturing capabilities.
**Working Capital:** A significant part is earmarked for meeting the company’s working capital requirements, ensuring smooth day-to-day operations and facilitating expansion.
**Acquisitions and General Corporate Purposes:** The company also intends to allocate funds for potential unidentified acquisitions and other general corporate needs, providing flexibility for future strategic initiatives.

Shareholding Structure and Investor Categories

Promoters and Their Stake

The promoters of Anondita Medicare Limited are Mr. Anupam Ghosh, Mrs. Sonia Ghosh, and Mr. Reshant Ghosh. Their commitment to the company is reflected in their substantial shareholding:

**Pre-Issue Shareholding:** 83.95%
**Post-Issue Shareholding:** 61.71%

This shows a significant promoter stake even after the dilution from the fresh issue, which often signals confidence in the company’s future.

IPO Share Reservation Breakdown

The total issue size of 4,793,000 shares is distributed among various investor categories:

Investor Category	Shares Offered	Percentage (%)
Market Maker	270,000	5.63%
Qualified Institutional Buyers (QIB)	2,258,000	47.11%
– Anchor Investors	1,352,000	28.21%
– QIB (Excluding Anchor)	906,000	18.90%
Non-Institutional Investors (NII / HNI)	681,000	14.21%
Retail Individual Investors (RII)	1,584,000	33.05%
Total Shares Offered	4,793,000	100.00%

Anchor investors have already contributed ₹19.60 crore to the issue, with their shares subject to specific lock-in periods.

SWOT Analysis: Weighing the Investment Pros and Cons

A balanced perspective is crucial before making any investment. Here’s a brief SWOT analysis for Anondita Medicare:

Strengths

**Strong Financial Performance:** Demonstrated rapid growth in revenue and profit, indicating a robust business model.
**Established Manufacturing & Distribution:** A significant production capacity and a well-connected network support efficient operations and reach.
**Global Market Presence:** Exports to multiple regions and collaborations with health organizations provide diversified revenue streams and market stability.
**Experienced Management:** Despite the company’s recent founding date, the claim of being an “experienced manufacturer” suggests seasoned leadership, which is vital for new ventures.
**Healthy Profitability:** High PAT and EBITDA margins, along with favorable ROE and ROCE, point to efficient asset utilization and strong returns.

Weaknesses

**Recent Incorporation:** While financials are strong, the company was incorporated recently (March 2024), implying a limited operational history under the current corporate structure.
**Product Concentration:** Primary focus on a single product category (male condoms) may expose the company to market shifts or changes in consumer preferences within that niche.
**SME Listing:** Shares listed on the SME platform might experience lower liquidity and higher price volatility compared to mainboard listings.
**”Unidentified Acquisitions”:** Part of the IPO proceeds is allocated to unidentified acquisitions, which lacks specific transparency on future strategic directions.

Opportunities

**Growing Healthcare Awareness:** Increasing focus on sexual health and family planning globally presents a growing market for its products.
**Product Diversification:** Potential to expand into related sexual wellness products or other medical devices, broadening its market appeal.
**Digital Penetration:** Leveraging e-commerce platforms can significantly enhance market reach and sales efficiency.
**Untapped Markets:** Further expansion into new geographies can unlock substantial growth avenues.
**Government Initiatives:** Continued collaboration with public health programs can provide consistent demand and strategic partnerships.

Threats

**Intense Competition:** The market for condoms is competitive, with both domestic and international players vying for market share.
**Regulatory Changes:** The healthcare and pharmaceutical sectors are subject to stringent regulations, which could impact operations or product offerings.
**Raw Material Price Volatility:** Fluctuations in the cost of raw materials could affect profit margins.
**Brand Perception:** Maintaining and enhancing brand trust and recall in a sensitive product category is crucial and can be challenging.
**Economic Downturns:** Economic instability could reduce discretionary spending, potentially impacting sales.

Concluding Thoughts for Potential Investors

Anondita Medicare IPO presents an intriguing opportunity, especially given its impressive financial growth in a short span and its strategic positioning in a high-demand healthcare segment. The company’s strong margins, healthy return ratios, and commitment to public health initiatives are certainly attractive.

However, as with any SME IPO, investors should consider the relatively shorter operational history of the current entity and the potential for lower liquidity compared to mainboard listings. A thorough due diligence, including reviewing the detailed Red Herring Prospectus (RHP), understanding the industry dynamics, and assessing your personal risk tolerance, is highly recommended before making an investment decision.

For those interested in exploring this opportunity, remember to check the live subscription status, news updates, and allotment details once the IPO opens. Happy investing!

August 19, 2025

Category: SME IPO

Rachit Prints Limited

Unveiling Rachit Prints IPO: A Deep Dive into the Specialty Fabric Manufacturer

**Rachit Prints: Weaving Quality into Mattress Fabrics**

**Diverse Product Portfolio:**

**Key Business Strengths:**

**Rachit Prints IPO: Key Offering Details**

**Important Dates for Investors:**

**Allocation and Investment Opportunities**

**Share Reservation Across Categories:**

**Investment Lot Sizes:**

**Financial Overview: A Snapshot of Performance**

**Key Valuation Metrics:**

**Promoter Group and Shareholding**

**Utilisation of IPO Proceeds: Fueling Future Growth**

**Strategic Assessment: Rachit Prints SWOT Analysis**

Strengths:

Weaknesses:

Opportunities:

Threats:

**Key IPO Intermediaries and Company Contact**

**Rachit Prints Ltd. Contact Details:**

**Conclusion: Evaluating Rachit Prints’ Future**

Oval Projects Engineering Limited

Unlocking Opportunity: A Deep Dive into the Oval Projects Engineering SME IPO

Introducing Oval Projects Engineering Ltd.

Core Business Areas:

Key Details of the Initial Public Offering

IPO Snapshot:

Investment Lot Details:

IPO Event Timeline:

Financial Performance Snapshot

Consolidated Financial Highlights (₹ Crore):

Key Performance Indicators (KPIs) and Valuation (as of March 31, 2025):

Purpose of the Fresh Issue

Promoter and Shareholding

Subscription Allocation Breakup:

Anchor Investor Participation:

Analyzing the Investment Case: SWOT Perspective

Strengths:

Weaknesses:

Opportunities:

Threats:

How to Participate in the IPO

General Application Steps:

Company and Registrar Information

Company Contact Details:

IPO Registrar:

Final Thoughts for Potential Investors

Sugs Lloyd Limited

Unveiling Sugs Lloyd IPO: A Deep Dive into Renewable Energy Investment

Understanding Sugs Lloyd Limited: A Glimpse into the Company

Diverse Service Portfolio

Competitive Advantages Shaping its Future

Key Details of the Initial Public Offering (IPO)

Offer Overview

IPO Dates at a Glance: Your Investment Timeline

Investment Lot Size: Minimum Application Details

Purpose of the Issue: What Will the Funds Be Used For?

Understanding the Share Allocation Structure

IPO Reservation Breakdown

Anchor Investor Participation

Financial Health and Performance (Valuation Metrics)

Recent Financial Highlights (Restated Consolidated)

Key Performance Indicators (KPIs) for Investors

Earnings and Valuation at a Glance

SWOT Analysis: A Balanced View for Sugs Lloyd IPO

Strengths

Weaknesses

Opportunities

Threats

How to Participate in the Sugs Lloyd IPO

General Steps to Apply:

Important Contacts for Investors

Sugs Lloyd Ltd. (Company Contact)

Kfin Technologies Ltd. (IPO Registrar)

Final Thoughts: Is Sugs Lloyd IPO a Good Fit for Your Portfolio?

Snehaa Organics Limited

Decoding Snehaa Organics IPO: An In-depth Investment Review

Understanding the Business: Snehaa Organics at a Glance

Rachit Prints: Weaving Quality into Mattress Fabrics

Diverse Product Portfolio:

Key Business Strengths:

Rachit Prints IPO: Key Offering Details

Important Dates for Investors:

Allocation and Investment Opportunities

Share Reservation Across Categories:

Investment Lot Sizes:

Financial Overview: A Snapshot of Performance

Key Valuation Metrics:

Promoter Group and Shareholding

Utilisation of IPO Proceeds: Fueling Future Growth

Strategic Assessment: Rachit Prints SWOT Analysis

Key IPO Intermediaries and Company Contact

Rachit Prints Ltd. Contact Details:

Conclusion: Evaluating Rachit Prints’ Future

Strengths:

Weaknesses:

Opportunities:

Threats: