Category: SME IPO

TSC India IPO

Decoding the TSC India IPO: A Deep Dive for Potential Investors

Decoding the TSC India IPO: Your Comprehensive Guide to a New Investment Horizon

The Indian primary market continues to buzz with activity, presenting exciting opportunities for investors to participate in the growth stories of emerging companies. One such offering on the horizon is the Initial Public Offering (IPO) of TSC India Limited. As a leading player in its niche, this SME IPO is generating significant interest. Let’s delve deep into what TSC India offers, its financial health, the investment specifics, and what you should consider before making a decision.

Unveiling TSC India Ltd.: A Closer Look at the Business

Established in 2003, TSC India Limited operates as a dedicated travel management company, primarily focusing on providing extensive air ticketing services. Their business model centers on the Business-to-Business (B2B) and corporate sectors, where they collaborate with various airlines and travel agencies to deliver efficient and cost-effective travel solutions. With a significant operational footprint across multiple Indian cities, TSC India has cemented its presence in the corporate travel landscape.

Core Services Offered by TSC India:

Booking Management: Streamlined processes for precise air travel reservations.
Analytical Reporting Systems: Offering data-driven insights to help clients analyze travel patterns and refine strategies.
Cost-Effective Solutions: Ensuring clients receive high-quality travel solutions at competitive prices.
Consulting and Negotiation Expertise: Guiding clients through travel requirements and securing favorable terms.
24/7 Emergency Support: Providing round-the-clock assistance for immediate support during travel disruptions.
Transparent Practices: Upholding clear communication regarding pricing and policies to foster client trust.
Integrated One-Stop Solutions: A unified platform simplifying travel management, offering comprehensive information and services.
Customer-Focused Service: A team of experienced professionals dedicated to efficiently meeting client needs and ensuring satisfaction.

The company boasts an impressive operational scale, managing over 12,000 bookings monthly and serving more than 2,100 customers as of June 2024. This demonstrates their strong position and efficiency within the B2B travel market.

Key Details of the TSC India IPO

The TSC India IPO is a book-built issue, entirely comprising a fresh issuance of shares. Here’s a quick snapshot of the key dates and figures you need to be aware of:

Detail	Information
IPO Open Date	July 23, 2025
IPO Close Date	July 25, 2025
Issue Type	Book Building Fresh Issue
Total Issue Size	36,98,000 shares (aggregating up to ₹25.89 Crores)
Face Value	₹10 per share
Price Band	₹68 to ₹70 per share
Listing Exchange	NSE SME
Tentative Listing Date	July 30, 2025

Investing in TSC India IPO: The Lot Size and Investment

The IPO specifies a minimum application lot size, which varies for retail and High Net Worth Individual (HNI) investors.

Application Category	Lots	Shares	Amount (at upper price band)
Individual Investor (Retail) Minimum	2	4,000	₹2,80,000
Individual Investor (Retail) Maximum	2	4,000	₹2,80,000
Small HNI (sNII) Minimum	3	6,000	₹4,20,000
Small HNI (sNII) Maximum	7	14,000	₹9,80,000
Big HNI (bNII) Minimum	8	16,000	₹11,20,000

It’s important to understand that bidding at the cut-off price is generally not permitted for any category in SME IPOs.

Understanding the Financial Health: A Deep Dive into TSC India’s Books

A company’s financial performance is a critical factor for any investor. TSC India has shown notable growth in recent years.

Financial Performance Overview (Restated Consolidated Figures)

Period Ended	March 31, 2025 (₹ Cr)	March 31, 2024 (₹ Cr)	March 31, 2023 (₹ Cr)
Assets	61.45	53.33	26.16
Revenue	26.32	20.59	9.85
Profit After Tax (PAT)	4.93	4.72	1.22
EBITDA	8.75	8.19	2.82
Net Worth	15.83	8.74	4.56
Reserves and Surplus	5.48	6.82	2.64
Total Borrowing	25.53	17.76	13.08

TSC India Ltd. has demonstrated a healthy financial trajectory, with its revenue increasing by 28% and profit after tax (PAT) growing by 4% between the financial years ending March 31, 2024, and March 31, 2025. This indicates a consistent growth path.

Key Financial Performance Indicators (as of March 31, 2025)

KPI	Value
Return on Equity (ROE)	31.13%
Return on Capital Employed (ROCE)	19.49%
Return on Net Worth (RoNW)	31.13%
Profit After Tax Margin	19.11%
EBITDA Margin	33.96%
Price to Book Value (P/BV)	1.55

The market capitalization of TSC India IPO at the upper price band is approximately ₹98.34 Crores.

Behind the Scenes: Promoters and IPO Objectives

The driving force behind TSC India Ltd. includes Mr. Ashish Kumar Mittal, Mrs. Puja Mittal, and Mr. Vinay Gupta. Prior to the IPO, the promoters held a significant stake in the company.

Promoter Shareholding:

Pre-Issue Promoter Holding: 90.74%

Purpose of the Issue:

The funds raised through this IPO are intended for critical strategic purposes that will fuel the company’s future growth:

Working Capital Requirements: A significant portion of the proceeds will be utilized to meet the company’s operational working capital needs, ensuring smooth day-to-day functioning and expansion.
General Corporate Purposes: Funds will also be allocated for various general corporate activities, including strategic investments, business development initiatives, and meeting unforeseen expenditures.
Issue Expenses: A part of the proceeds will cover the costs associated with the IPO itself.

Anchor Investors: Building Confidence

The anchor investor portion of the IPO provides an early indication of institutional interest and confidence in the company.

TSC India IPO successfully raised ₹7.36 crore from anchor investors.
The anchor bid date was July 22, 2025.
A total of 10,52,000 shares were offered to anchor investors.

The Landscape Ahead: A Strategic Analysis (SWOT)

To provide a holistic view, let’s conduct a strategic analysis of TSC India Limited:

Strengths:

Established B2B Focus: Strong presence and client base in the corporate and B2B travel segments.
Operational Efficiency: Demonstrated capability to manage a high volume of bookings (12,000+ monthly).
Comprehensive Service Portfolio: Offers a wide range of services from booking to analytical reporting and 24/7 support.
Technological Integration: Utilizes automated accounting solutions and integrates with Global Distribution Systems (GDS).
Consistent Financial Growth: Healthy revenue and PAT growth trends over recent financial years.

Weaknesses:

Dependence on Travel Sector: Highly susceptible to economic downturns, pandemics, or geopolitical events affecting travel.
Competition: Operates in a competitive market with both organized and unorganized players.
Capital Intensive Growth: Expanding presence and tech upgrades might require significant capital infusion.
Regulatory Risks: Subject to evolving regulations in the travel and aviation industry.

Opportunities:

Growing Corporate Travel Market: India’s corporate travel sector is expected to rebound and grow significantly.
Digital Transformation: Further leveraging technology for automation, AI-driven solutions, and personalized services.
Geographical Expansion: Potential to expand into more tier-2 and tier-3 cities or even international markets.
Diversification: Exploring related services like MICE (Meetings, Incentives, Conferences, Exhibitions) or niche travel segments.

Threats:

Economic Slowdown: A prolonged economic downturn could severely impact corporate travel budgets.
Disruptive Technologies: Emergence of new technologies or business models that bypass traditional travel agencies.
Airline Direct Sales: Airlines encouraging direct bookings, potentially reducing reliance on intermediaries.
Intensified Competition: Aggressive pricing strategies from competitors or entry of new large players.

Navigating Your Application: Essential Contacts

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

TSC India Ltd. Corporate Office:

Office No. 3, 2nd Floor, Midland Financial Centre, Plot No. 21-22, G.T. Road, Jalandhar, Punjab, 144001
Phone: +91-181-4288888
Email: cs@tscpl.biz

IPO Registrar: Bigshare Services Pvt Ltd

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

Final Thoughts: Is TSC India IPO for You?

The TSC India IPO presents an opportunity to invest in a growing travel management company with a strong B2B focus and a consistent track record of financial growth. The company’s emphasis on comprehensive services, technological integration, and a clear vision for utilizing IPO proceeds for working capital and general corporate purposes paints a promising picture.

However, like any investment, it comes with its inherent risks, particularly those tied to the cyclical nature of the travel industry and competitive pressures. Potential investors are always advised to conduct their own thorough due diligence, assess their risk appetite, and consult with a financial advisor before making any investment decisions. Evaluating the company’s Red Herring Prospectus (RHP) for detailed information is also highly recommended.

Understanding the company’s core business, scrutinizing its financial health, and being aware of the market dynamics are crucial steps toward making an informed choice about participating in the TSC India IPO.

July 19, 2025

Monarch Surveyors and Engineering Consultants

Monarch Surveyors IPO: A Deep Dive into the Upcoming Offering

Monarch Surveyors IPO: Charting a Course for Growth

The Indian capital market is buzzing with activity, and a new opportunity is on the horizon for investors. Monarch Surveyors & Engineering Consultants Ltd. is set to launch its Initial Public Offering (IPO), offering a chance to invest in a well-established civil engineering consultancy firm. This comprehensive guide will break down all the essential details of the Monarch Surveyors IPO, from its business model to financial health and investment specifics, helping you make an informed decision.

Let’s navigate through the details of this promising offering.

Monarch Surveyors: At a Glance

Established in 1992, Monarch Surveyors & Engineering Consultants Ltd. has carved a niche as a reputable civil engineering consultancy. The company provides a wide array of services crucial for infrastructure development, positioning itself as a key player in India’s ongoing growth story.

Core Services:

**Surveying and Mapping:** Precision topographical and other critical surveys.
**Engineering Investigations:** Geo-technical, traffic, and other specialized engineering studies.
**Design and Engineering:** Conceptualization and detailed design solutions for various projects.
**Land Services:** GIS-based land planning and acquisition services.
**Project Management:** Detailed Project Report (DPR) preparation and Bid Process Management.

With a robust track record across railways, roads, ports, and oil & gas sectors, Monarch Surveyors plays a vital role in ensuring accurate and efficient project execution. As of March 31, 2024, the company boasts a team of 417 dedicated employees.

Understanding the Investment Opportunity

The Monarch Surveyors IPO is a book-building issue aimed at raising capital for the company’s future endeavors. Here’s a quick overview:

IPO Key Specifications:

Detail	Specification
Issue Type	Book Building IPO
Total Issue Size	37,50,000 shares (aggregating up to ₹93.75 Crores)
Fresh Issue	Entirely a fresh issue of 37,50,000 shares
Face Value	₹10 per share
Price Range	₹237 to ₹250 per share
Listing Exchange	BSE SME

Investment Timetable

Mark your calendars! Here are the important dates for the Monarch Surveyors IPO:

Anchor Bid Date Jul 21, 2025

IPO Open Jul 22, 2025

IPO Close Jul 24, 2025

Tentative Allotment Jul 25, 2025

Refund Initiation Jul 28, 2025

Demat Credit Jul 28, 2025

Tentative Listing Jul 29, 2025

Lot Size & Investment Brackets:

Investors can bid for shares in specific lot sizes. Understanding these minimum and maximum investments is crucial:

Application Category	Lots	Shares	Amount (at upper price band)
Individual Investors (Retail) (Min)	2	1,200	₹3,00,000
Individual Investors (Retail) (Max)	2	1,200	₹3,00,000
Small HNI (Min)	3	1,800	₹4,50,000
Small HNI (Max)	6	3,600	₹9,00,000
Big HNI (Min)	7	4,200	₹10,50,000

Note: Bidding at the cut-off price is not permitted for any category.

Share Reservation Breakdown

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

Investor Category	Shares Offered	Percentage (%)
Market Maker Portion	2,07,000	5.52%
Qualified Institutional Buyers (QIB)	17,69,400	47.18%
- Anchor Investors	10,61,400	28.30%
- QIB (Excluding Anchor)	7,08,000	18.88%
Non-Institutional Investors (NII/HNI)	5,32,800	14.21%
Retail Individual Investors (RII)	12,40,800	33.09%
Total Shares Offered	37,50,000	100.00%

Anchor Investor Participation:

Monarch Surveyors successfully raised ₹26.54 crore from anchor investors on July 21, 2025. This segment typically reflects strong institutional confidence in the IPO.

**Anchor Portion Size:** ₹26.54 Crores
**Shares Offered to Anchors:** 10,61,400
**Lock-in Periods:** 50% of shares locked in until August 24, 2025 (30 days), and the remaining until October 23, 2025 (90 days).

Meet the Visionaries: Company Promoters

The company is steered by a team of experienced promoters:

Mr. Dattatraya Mohaniraj Karpe
Mr. Sanjay Bhalchandra Vidwans
Mr. Sunil Shrikrishna Bhalerao
Mr. Bhartesh Rajkumar Shah

Their collective experience is a significant asset to the company’s strategic direction and growth.

Ownership Structure (Promoter Holding):

Phase	Share Holding
Pre-Issue	98.42%
Post-Issue	72.35%

The dilution in promoter holding post-issue is typical as new shares are issued to the public to raise capital.

Financial Health Snapshot

A look at Monarch Surveyors’ financial performance reveals a trajectory of consistent growth. The company has demonstrated healthy revenue and profit growth in recent fiscal years.

Key Financial Highlights (Restated, in ₹ Crores):

Period Ended	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023
Assets	148.06	102.12	64.51
Revenue	155.66	141.27	72.72
Profit After Tax (PAT)	34.83	30.01	8.59
EBITDA	51.10	42.78	11.68
Net Worth	108.80	73.97	43.96
Total Borrowing	14.29	12.96	8.37

From FY24 to FY25, Monarch Surveyors saw its revenue grow by 10% and profit after tax surge by 16%, indicating strong operational efficiency and business expansion.

Performance Indicators (as of Mar 31, 2025):

The company’s key performance indicators (KPIs) paint a promising picture:

**Return on Equity (ROE):** 32.01%
**Return on Capital Employed (ROCE):** 39.59%
**Debt/Equity Ratio:** 0.13 (very low, indicating sound financial leverage)
**PAT Margin:** 22.60%
**EBITDA Margin:** 33.15%
**Price to Book Value:** 2.39

With a market capitalization of ₹353.90 Crores, these figures demonstrate robust profitability and efficient asset utilization.

Valuation Metrics:

Metric	Pre-IPO	Post-IPO
Earnings Per Share (EPS)	₹33.47	₹24.61
Price-to-Earnings (P/E) Ratio	7.47x	10.16x

Note: The EPS calculations are based on the latest available financial data and respective shareholdings.

Purpose of the Offering

The capital raised through this IPO will be strategically deployed to fuel Monarch Surveyors’ growth initiatives:

**Capital Expenditure:** A significant portion of the proceeds (₹31.98 Crores) is earmarked for purchasing new machinery, which will enhance operational capabilities and capacity.
**Working Capital Needs:** ₹30 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:** The remaining funds will be used for various general corporate purposes, including strategic investments, business development, and unforeseen expenses.

SWOT Analysis: Assessing Monarch Surveyors

A balanced perspective involves evaluating the company’s internal strengths and weaknesses, alongside external opportunities and threats.

Strengths:

**Experienced Leadership:** Strong and seasoned promoter and management team with extensive industry knowledge.
**Diverse Service Portfolio:** Offers a comprehensive range of civil engineering consultancy services, reducing reliance on a single revenue stream.
**Robust Client Base:** Proven track record with a wide range of clients across critical infrastructure sectors (railways, roads, ports, oil & gas).
**Operational Efficiency:** Demonstrated optimal utilization of resources, contributing to healthy profit margins.
**Consistent Financial Growth:** Impressive year-on-year growth in both revenue and profit, coupled with strong profitability and efficiency KPIs (high ROE, ROCE, PAT margin).
**Low Debt:** Very healthy debt-to-equity ratio indicating financial prudence and stability.

Weaknesses:

**SME Listing:** Being an SME IPO, it might experience lower trading volumes and liquidity compared to mainboard listings, potentially affecting ease of entry and exit for investors.
**Sectoral Dependence:** High reliance on the infrastructure sector’s growth, which can be cyclical and influenced by government policies and economic conditions.
**High Retail Lot Size:** The minimum investment amount for retail investors is relatively high, which might limit broader participation.

Opportunities:

**Infrastructure Boom:** India’s aggressive push for infrastructure development (roads, railways, ports, urban infrastructure) presents a vast and continuous demand for civil engineering consultancy services.
**Technological Adoption:** Opportunities to integrate advanced technologies like drones, AI, and Big Data into surveying and mapping services for enhanced accuracy and efficiency.
**Geographic Expansion:** Potential to expand operations into new regions or neighboring countries with growing infrastructure needs.
**Service Diversification:** Exploration of adjacent service areas or specialized consultancy niches within the civil engineering domain.

Threats:

**Competitive Landscape:** Intense competition from both established large-scale consultancy firms and emerging smaller players.
**Economic Downturns:** A slowdown in the economy can lead to reduced government spending on infrastructure projects, impacting revenue.
**Regulatory Changes:** Changes in environmental regulations, land acquisition policies, or project approval processes could affect project timelines and profitability.
**Talent Acquisition & Retention:** Difficulty in attracting and retaining skilled civil engineers, surveyors, and technical personnel.
**Project Delays:** Unforeseen project delays or cost overruns could impact the company’s financial performance.

Connect with Monarch Surveyors

For more detailed information or direct communication:

Registered Office:
Monarch House, CTS No. 434/1,
Near Kawade Petrol Pump, Ghorpadi Gaon,
Hadapsar (N.V.), Haveli, Pune, Maharashtra, 411036

Phone: +91 9766509911
Email: cs@monarchpune.in
Website: www.monarchconsultants.in

Official Registrar for the IPO

The registrar plays a crucial role in managing the IPO process, including allotment and refunds.

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

Conclusion: Navigating the Monarch Surveyors IPO

Monarch Surveyors & Engineering Consultants Ltd. presents an intriguing investment opportunity in India’s burgeoning infrastructure sector. With a strong track record, robust financials, experienced management, and a clear vision for growth, the company appears well-positioned to capitalize on future opportunities.

As with any investment, it’s crucial for prospective investors to conduct their own thorough due diligence, review the Red Herring Prospectus (RHP) carefully, and align the investment with their personal financial goals and risk tolerance. Understanding the company’s competitive advantages, market positioning, and the broader industry outlook will be key to making an informed decision on whether to participate in this upcoming SME IPO.

Stay informed, invest wisely!

July 19, 2025

Swastika Castal IPO

Decoding the Swastika Castal IPO: A Deep Dive for Potential Investors

Decoding the Swastika Castal IPO: A Comprehensive Guide for Investors

As the Indian market continues to buzz with new public offerings, the upcoming Initial Public Offering (IPO) of Swastika Castal Limited is drawing considerable attention. For both seasoned investors and those new to the stock market, understanding the intricacies of an IPO is crucial for making informed decisions. This blog post aims to provide a detailed analysis of the Swastika Castal IPO, exploring the company’s background, financial health, investment specifics, and the potential for future growth.

Let’s dive deep into what makes Swastika Castal an entity to watch in the aluminum casting sector and whether its upcoming IPO aligns with your investment objectives.

Unveiling Swastika Castal Limited

Established in 1996, Swastika Castal Limited has carved a niche for itself in the manufacturing of high-quality aluminum castings. The company’s operations primarily revolve around producing critical components through various sophisticated casting processes, including sand, gravity, and centrifugal casting methods.

Swastika Castal specializes in:

**Sand Casting:** Ideal for complex designs, capable of handling components up to 250 kg.
**Gravity Casting:** Used for precise, high-quality components weighing up to 80 kg, known for excellent surface finish and accuracy.

A key differentiator is their in-house heat treatment facility, which ensures superior product quality, enhances efficiency, and offers cost-effectiveness while maintaining precise control over mechanical properties and dimensional stability of their products.

Product Range and Applications:

The company’s diverse product portfolio caters to critical industrial sectors:

**Electrical Equipment & Transmission:** Supplying vital components for electrical machinery and power transmission systems.
**Railways & Diesel Engines:** Providing robust and reliable castings for the transportation and heavy machinery industries.
**General Industrial Applications:** Including components for air compressors, insulators, and a wide array of other industrial uses.

Core Strengths Driving Growth:

Swastika Castal Limited boasts several competitive advantages:

Broad and varied product offerings meeting diverse industrial needs.
A commitment to maintaining high-quality standards in all manufacturing processes.
A focus on sustainable practices within its operations.
Strong leadership expertise guiding strategic initiatives.

The Investment Horizon: Swastika Castal IPO at a Glance

Here’s a quick overview of the upcoming public offering from Swastika Castal Limited:

IPO Journey Timeline

Open
July 21, 2025

Close
July 23, 2025

Allotment
July 24, 2025

Listing
July 28, 2025

Key IPO Aspect	Detail
Issue Dates	July 21, 2025 – July 23, 2025
Listing Date (Tentative)	Monday, July 28, 2025
Face Value	₹10 per share
Issue Price	₹65 per share (Fixed Price)
Issue Size	21.64 lakh shares (aggregating up to ₹14.07 Crores)
Sale Type	Entirely a Fresh Issue of Capital
Listing Exchange	BSE SME

Investor Categories and Application Details

The Swastika Castal IPO offers shares across different investor categories, each with specific reservation percentages:

Investor Category	Shares Offered	Percentage (%)
Market Maker Shares	1,10,000	5.08%
Non-Institutional Investors (NII / HNI)	10,26,000	47.41%
Retail Individual Investors (RII)	10,28,000	47.50%
Total Shares Offered	21,64,000	100.00%

Understanding Lot Sizes and Investment Amounts:

Investors must bid for a minimum of 2,000 shares and in multiples thereof. The minimum and maximum investment details for various investor categories are outlined below:

Application Category	Minimum Lots	Minimum Shares	Minimum Investment Amount
Individual Investors (Retail)	2	4,000	₹2,60,000
Small HNI (sNII)	3	6,000	₹3,90,000
Big HNI (bNII)	8	16,000	₹10,40,000

Note: Bidding at cut-off price is typically not permitted for any category in fixed price issues like this SME IPO.

Analyzing the Financial Landscape

Swastika Castal Limited has demonstrated notable financial performance over recent years. A closer look at their financials reveals a company on a growth trajectory, particularly in the latest fiscal year.

Financial Aspect (₹ Crores)	March 31, 2025	March 31, 2024	March 31, 2023
Assets	30.83	23.82	26.24
Revenue	30.31	23.35	24.41
Profit After Tax (PAT)	2.63	0.65	0.58
EBITDA	4.55	2.48	2.33
Net Worth	10.67	8.03	7.39
Reserves and Surplus	4.67	6.53	5.89
Total Borrowing	9.12	8.97	9.64

Key Performance Indicators (KPIs):

These metrics provide further insight into the company’s operational efficiency and valuation:

KPI (as of March 31, 2025)	Value
Market Capitalization	₹53.07 Crores
Return on Equity (ROE)	28.17%
Return on Capital Employed (ROCE)	32.74%
Debt/Equity Ratio	0.85
Return on Net Worth (RoNW)	24.70%
PAT Margin	8.88%
EBITDA Margin	15.36%
Price to Book Value	3.66
Earnings Per Share (Pre-IPO)	₹4.39
Price/Earnings Ratio (Pre-IPO)	14.8
Earnings Per Share (Post-IPO)	₹3.23
Price/Earnings Ratio (Post-IPO)	20.14

The company has shown a remarkable 30% increase in revenue and an impressive 305% surge in Profit After Tax between FY2024 and FY2025. This significant jump in profitability in the most recent fiscal year warrants a careful evaluation of its sustainability going forward.

Promoting Growth: Objectives of the IPO

The funds raised through this IPO are earmarked for strategic investments crucial for Swastika Castal’s future expansion and operational efficiency. The primary objectives are:

**Capital Expenditure:** A significant portion of the proceeds will be allocated towards acquiring new plant and machinery, along with the construction of sheds and buildings to enhance manufacturing capabilities. (Expected Amount: ₹5.00 Crores)
**Working Capital Requirements:** Funds will also be utilized to meet the company’s ongoing working capital needs, ensuring smooth day-to-day operations and facilitating growth. (Expected Amount: ₹5.00 Crores)

Leadership and Ownership: Promoter Information

The guiding forces behind Swastika Castal Limited are its promoters, Varun Sharda and Indra Sharda. Their vision and leadership have been instrumental in the company’s journey thus far.

Share Holding Stage	Promoter Holding Percentage
Pre-Issue Share Holding	100.00%
Post-Issue Share Holding	73.49%

Strategic Insights: A SWOT Analysis

Understanding the strengths, weaknesses, opportunities, and threats associated with Swastika Castal Limited can provide a holistic view for potential investors.

Strengths:

**Specialized Manufacturing Expertise:** Deep capabilities in various aluminum casting techniques (sand, gravity, centrifugal) for diverse industrial applications.
**Integrated Facilities:** In-house heat treatment ensures quality control, efficiency, and potentially better cost management.
**Diverse End-User Industries:** Catering to electrical, railway, and general industrial sectors reduces reliance on a single market segment.
**Consistent Revenue Growth:** Demonstrating an upward trend in top-line figures over the last two fiscal years.
**Significant Profitability Improvement:** Remarkable PAT growth in the most recent financial year indicates improved operational leverage or pricing power.

Weaknesses:

**Concentrated Promoter Holding Post-IPO:** While initial holding is high, the post-IPO equity base is relatively small, which can sometimes lead to lower liquidity in the initial trading phase.
**Sudden Surge in Profitability:** The very high PAT growth in FY25 raises questions about its sustainability and whether it’s due to one-off factors or genuine operational improvements. Investors will need to assess if this level of profitability can be maintained.
**Reliance on Specific Industries:** While diverse, the company’s fortunes are still tied to the capital expenditure cycles and growth of heavy industries.

Opportunities:

**Growing Demand for Aluminum Castings:** Industries like automotive (for lightweighting), electrical, and infrastructure are increasingly adopting aluminum components.
**Expansion into New Markets/Applications:** Potential to diversify into emerging sectors requiring high-quality castings.
**Technological Upgrades:** Utilizing IPO funds for machinery acquisition can lead to enhanced capacity, efficiency, and product innovation.
**Government Initiatives:** “Make in India” and infrastructure development drives can boost demand for domestically manufactured industrial components.

Threats:

**Fluctuation in Raw Material Prices:** Volatility in aluminum prices can impact profitability.
**Intense Competition:** The casting industry can be competitive, with both organized and unorganized players.
**Economic Slowdowns:** General economic downturns can lead to reduced industrial activity and lower demand for castings.
**Technological Disruption:** Emergence of new manufacturing techniques or materials could pose a challenge.
**Regulatory Changes:** Environmental regulations or changes in industrial policies could affect operations and costs.

Key Facilitators: Registrar and Lead Manager

For any IPO, the roles of the registrar and lead manager are critical in ensuring a smooth and compliant process.

**Book-Running Lead Manager:** Horizon Management Private Limited
**Registrar to the Issue:** Accurate Securities & Registry Private Limited

The registrar is responsible for managing the application process, allotment, and refund procedures, ensuring transparency and efficiency.

Navigating the Application Process: Common Questions Answered

Here are answers to some frequently asked questions regarding the Swastika Castal IPO application:

What is the Swastika Castal IPO?

The Swastika Castal IPO is a SME IPO, involving the issuance of 21,64,000 equity shares with a face value of ₹10 each, aggregating up to ₹14.07 Crores. The issue price is set at ₹65 per share, with a minimum application quantity of 2,000 shares. The IPO is set to open on July 21, 2025, and close on July 23, 2025, with listing proposed on BSE SME.

How to Apply for Swastika Castal IPO?

You can typically apply for an IPO online using either UPI (Unified Payments Interface) or ASBA (Application Supported by Blocked Amount) as payment methods. ASBA applications are usually processed through your bank’s net banking portal, while UPI applications are facilitated by brokers who may not offer direct banking services.

When will Swastika Castal IPO Open?

The Swastika Castal IPO is scheduled to open on Monday, July 21, 2025.

What is the Lot Size for Swastika Castal IPO?

The lot size for Swastika Castal IPO is 2,000 shares. This means the minimum investment required for a retail application is ₹2,60,000 (4,000 shares, which is 2 lots for retail).

When is Swastika Castal IPO Allotment?

The finalization of the Basis of Allotment for Swastika Castal IPO is tentatively scheduled for Thursday, July 24, 2025. Allotted shares are expected to be credited to your demat account by Friday, July 25, 2025.

When is Swastika Castal IPO Listing Date?

The tentative listing date for Swastika Castal IPO on BSE SME is Monday, July 28, 2025.

Concluding Thoughts: A Path Forward

The Swastika Castal IPO presents an opportunity to invest in a company with a long-standing presence in the specialized aluminum casting industry. While its recent financial performance, particularly the significant jump in profits for FY25, is impressive, potential investors are encouraged to conduct their own thorough research and consider the sustainability of such growth. The objectives of the issue, focused on capital expenditure and working capital, indicate a clear path for expansion.

As with any investment, particularly in SME listings, a careful evaluation of the company’s fundamentals, the industry outlook, and the IPO’s valuation is paramount. Well-informed investors who are comfortable with the inherent risks of the equity market may find this offering worth considering for the long term.

July 19, 2025

Savy Infra and Logistics IPO

Savy Infra IPO: Unpacking the Opportunity in Infrastructure & Logistics

Savy Infra IPO: Unpacking a New Opportunity in India’s Growth Story

The Indian stock market continues to buzz with activity, offering a dynamic landscape for both seasoned and new investors. Initial Public Offerings (IPOs), especially in the SME (Small and Medium-sized Enterprises) segment, are increasingly becoming a focal point for those seeking growth opportunities. These offerings allow promising smaller companies to raise capital and grow, simultaneously providing investors a chance to participate in their journey from an early stage.

Today, we delve into one such upcoming offering: the Savy Infra & Logistics Ltd. IPO. This company, operating in the crucial infrastructure and logistics sectors, is poised to make its debut on the NSE SME platform. Let’s explore what Savy Infra brings to the table and what potential investors should consider.

Understanding Savy Infra & Logistics Ltd.: A Business Snapshot

Savy Infra & Logistics Ltd. is an established EPC (Engineering, Procurement, and Construction) company with a focus on earthwork and foundation preparation for large-scale infrastructure projects. Their expertise spans various critical areas:

Road construction and embankment development
Sub-grade preparation and surface paving
Specialized demolition services for new project sites
Providing advanced machinery like rock breakers and heavy excavators on rent
Offering comprehensive services including shoring, strutting, side protection, and waste disposal

Operating on an ‘asset-light’ model, the company leverages rented trucks, drivers, and machinery to manage project execution, allowing for operational flexibility and cost efficiency. Savy Infra has successfully completed projects across multiple Indian states, demonstrating a wide geographical reach and robust operational capabilities.

Decoding the Savy Infra Public Offering

The Savy Infra IPO is a book-built issue designed to raise significant capital for the company’s future endeavors. Here’s a quick look at the key details:

Detail	Specification
IPO Type	SME IPO (Book Building)
Issue Size	₹69.98 Crores
Share Count	58,32,000 Equity Shares
Face Value	₹10 per share
Price Band	₹114 to ₹120 per share
Listing Exchange	NSE SME
Issue Structure	Entirely a Fresh Issue

Allocation Strategy: Understanding Investor Categories

The IPO is structured to ensure participation from various investor segments:

Qualified Institutional Buyers (QIBs): Not more than 50.00% of the Net Issue
Retail Individual Investors (RIIs): Not less than 35.00% of the Issue
Non-Institutional Investors (NIIs): Not less than 15.00% of the Issue
Market Maker Reservation: 2,92,800 shares (aggregating up to ₹4 Cr) reserved for Globalworth Securities Limited

The Investment Gateway: Lot Sizes & Financial Commitments

For potential investors, understanding the minimum and maximum investment requirements is crucial. The Savy Infra IPO has a fixed lot size, impacting the capital required for application.

Application Category	Minimum Lots	Shares per Lot	Minimum Investment (₹)	Maximum Investment (₹)
Individual Investors (Retail)	2	1,200	₹2,88,000 (2 lots)	₹2,88,000 (2 lots)
Small HNI (sNII)	3	1,200	₹4,32,000 (3 lots)	₹8,64,000 (6 lots)
Big HNI (bNII)	7	1,200	₹10,08,000 (7 lots)	No Upper Limit Specified

Note: Bidding at cut-off price is not permitted for any category in this issue.

Financial Health Check: Savy Infra’s Performance

A look at the company’s financial performance provides insight into its growth trajectory and operational efficiency. Savy Infra has demonstrated commendable growth in recent years.

Restated Financial Highlights (Amount in ₹ Crore)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	185.81	41.70	10.10
Revenue	283.77	101.62	6.19
Profit After Tax (PAT)	23.88	9.87	0.34
EBITDA	35.62	14.95	0.57
Net Worth	52.25	10.51	0.64
Total Borrowing	44.84	8.49	3.12

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

Indicator	Value
Return on Equity (ROE)	76.10%
Return on Capital Employed (ROCE)	36.69%
Debt/Equity Ratio	0.86
Return on Net Worth (RoNW)	45.70%
PAT Margin	8.43%
EBITDA Margin	12.57%
Price to Book Value	3.44

The company’s revenue witnessed a significant increase of 179% and PAT rose by 142% between the financial year ending March 31, 2024, and March 31, 2025, reflecting strong operational growth.

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

Metric	Pre-IPO	Post-IPO
EPS (₹)	15.94	11.48
P/E (x)	7.53	10.46

The pre-IPO EPS is calculated based on pre-issue shareholding and the latest FY earnings (March 31, 2025). The post-IPO EPS is calculated based on post-issue shareholding and annualized FY earnings for March 31, 2025.

Strategic Vision: Objectives of the IPO

Savy Infra intends to utilize the net proceeds from this issue primarily for two key objectives:

Funding working capital requirements of the company (approximately ₹49.00 Crores)
General corporate purposes to support overall business growth and expansion

Leadership and Ownership: Promoters & Their Stake

The Promoters of Savy Infra & Logistics Ltd. are Mr. Tilak Mundhra and Mr. Liladhar Mundhra, who have been instrumental in guiding the company’s trajectory.

Holding Stage	Percentage Stake
Pre-Issue Share Holding	85.87%
Post-Issue Share Holding	(To be calculated based on equity dilution)

SWOT Analysis: A Holistic View

Understanding a company’s strengths, weaknesses, opportunities, and threats is vital for any investment decision. Here’s a brief SWOT analysis for Savy Infra & Logistics Ltd.:

Strengths

Asset-Light Business Model: Reduces capital expenditure and offers operational flexibility.
Integrated Business Operations: Provides comprehensive services, reducing reliance on third parties for certain functions.
Strong Financial Performance: Consistent growth in revenue and profitability demonstrates robust business operations.
Experienced Management Team: Promoters and management bring valuable industry knowledge and strategic direction.

Weaknesses

Dependency on Rentals: While asset-light, it means less control over equipment availability and pricing compared to owned assets.
Project-Specific Risks: Revenue generation is tied to securing and completing large infrastructure projects, which can be subject to delays or cancellations.
Competitive Landscape: The infrastructure and logistics sector in India is highly competitive with both large and small players.

Opportunities

Growing Infrastructure Sector: Government push for infrastructure development (roads, railways, smart cities) provides a strong growth pipeline.
Expansion into New Geographies: Potential to expand operations beyond current states into new, emerging markets.
Technological Adoption: Implementing advanced construction techniques and digital tools can enhance efficiency and competitiveness.

Threats

Economic Downturns: A slowdown in economic growth can negatively impact infrastructure spending and project awards.
Regulatory Changes: Changes in government policies or environmental regulations could affect project execution and costs.
Raw Material Price Volatility: Fluctuations in prices of materials like steel, cement, or fuel can impact project profitability.
Labor Availability and Costs: Shortages of skilled labor or rising labor costs could pose challenges.

Navigating the IPO Journey: Key Dates

Your timeline for the Savy Infra IPO application process:

IPO Open Date
Mon, Jul 21, 2025

IPO Close Date
Wed, Jul 23, 2025

Tentative Allotment
Thu, Jul 24, 2025

Shares to Demat
Fri, Jul 25, 2025

Tentative Listing
Mon, Jul 28, 2025

Making an Informed Decision: An Overview of the Opportunity

Savy Infra & Logistics Ltd. presents an interesting proposition in the SME segment. The company’s business model, strong financial performance, and confirmed orders worth approximately ₹430 Crores indicate a robust foundation.

Market analysts often suggest that the issue appears to be priced to reflect its current performance. Companies with an asset-light model and strong cost management, like Savy Infra, can often demonstrate impressive profit surges. Investors considering this IPO might look at it as a potential medium to long-term investment opportunity, aligning with the growth potential of India’s infrastructure sector.

As with any investment, it’s crucial to conduct your own due diligence and consider your personal financial goals and risk tolerance before applying.

Essential Contacts for Investors

Savy Infra & Logistics Ltd. Contact Details

Address: Office No. 718, Seventh Floor, Sharan Circle Business Hub, Nr Sharan Circle Zunda Cross, Zundal, Gandhinagar, Gujarat, 382421
Phone: +91 9227027522
Email: compliance@savyinfra.com
Website: https://www.savyinfra.com/

Registrar Information for Applicants

The registrar for the Savy Infra IPO, responsible for allotment and refunds, is:

Registrar Name: Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@mashitla.com
Website: https://maashitla.com/allotment-status/public-issues

Frequently Asked Questions (FAQs)

What is the Savy Infra IPO?

The Savy Infra IPO is an SME IPO by Savy Infra & Logistics Ltd. It involves the issuance of 58,32,000 new equity shares, aiming to raise ₹69.98 Crores. The shares are priced in a band of ₹114 to ₹120 per share and will list on the NSE SME exchange.

When does the Savy Infra IPO open and close?

The IPO subscription window is from July 21, 2025 (Monday) to July 23, 2025 (Wednesday).

What is the lot size for Savy Infra IPO?

The minimum lot size for the Savy Infra IPO is 1,200 shares. Retail individual investors need to apply for a minimum of 2 lots (2,400 shares), amounting to ₹2,88,000.

How can I apply for the Savy Infra IPO?

You can apply for the Savy Infra IPO online using either the UPI (Unified Payments Interface) or ASBA (Applications Supported by Blocked Amount) payment methods. Many brokerage platforms offer UPI-based IPO applications, while ASBA is available through your bank’s net banking portal.

When is the Savy Infra IPO allotment expected?

The finalization of the Basis of Allotment for Savy Infra IPO is tentatively scheduled for Thursday, July 24, 2025. Shares are expected to be credited to successful applicants’ demat accounts by Friday, July 25, 2025.

What is the tentative listing date for Savy Infra IPO?

The tentative listing date for Savy Infra IPO on NSE SME is Monday, July 28, 2025.

Conclusion

The Savy Infra & Logistics Ltd. IPO offers a glimpse into the growth potential within India’s dynamic infrastructure and logistics sectors. With a strong track record of financial performance and an asset-light operational model, Savy Infra is positioning itself for further expansion.

As you evaluate this opportunity, consider the company’s fundamentals, the market outlook for its sector, and align it with your personal investment strategy. Engaging with a qualified financial advisor can provide tailored insights to help you make well-informed decisions in the vibrant IPO market.

July 19, 2025

Monika Alcobev IPO

Monika Alcobev IPO: Unlocking Opportunity in Luxury Spirits

Monika Alcobev IPO: A Deep Dive into India’s Luxury Spirits Market

The Indian stock market is buzzing with another exciting opportunity as Monika Alcobev Limited prepares for its Initial Public Offering (IPO). For investors looking to tap into the burgeoning luxury alcoholic beverages sector, this upcoming SME IPO presents a unique proposition. Let’s delve into the specifics of this offering, from the company’s business model to its financial health and the key details for potential investors.

Navigating the Public Offering: Key Dates and Details

Monika Alcobev’s IPO is a book-building issue aiming to raise a significant sum to fuel its growth ambitions. Here’s a quick overview of what you need to know about this market debut.

IPO Timeline at a Glance

Stay informed with the crucial dates for Monika Alcobev’s IPO journey:

IPO OpenJul 16, 2025

IPO CloseJul 18, 2025

Allotment FinalizationJul 21, 2025

Shares CreditedJul 22, 2025

Tentative ListingJul 23, 2025

Understanding the Core Offering

Detail	Specification
Issue Price Range	₹271 to ₹286 per share
Face Value	₹10 per share
Total Issue Size	57,91,200 shares (aggregating up to ₹153.68 Cr)
Issue Type	Book Building IPO (Fresh Issue + Offer for Sale)
Listing Exchange	BSE SME

Investment Lot Sizes and Application Limits

For individual and high-net-worth investors, understanding the lot sizes is crucial for application. The minimum and maximum investment amounts vary by investor category.

Application Category	Minimum Lots	Minimum Shares	Minimum Amount
Individual Investors (Retail)	2	800	₹2,28,800
Small HNI (sNII)	3	1,200	₹3,43,200
Big HNI (bNII)	9	3,600	₹10,29,600

Note: Bidding at the cut-off price is not permitted for any category other than retail individual investors.

Monika Alcobev: A Company Overview

Established in 2015, Monika Alcobev Limited has carved a niche as a prominent importer and distributor of luxury alcoholic beverages. Their impressive portfolio boasts over 70 premium brands, including globally recognized names like Jose Cuervo, Bushmills, and Onegin Vodka.

The company’s operational footprint extends across India and other Indian Subcontinent markets such as Nepal, Maldives, Sri Lanka, and Bangladesh. They cater to diverse segments including hospitality (HORECA), traditional retail, and travel retail, ensuring a wide reach for their premium offerings. With a dedicated team of over 250 professionals, Monika Alcobev emphasizes efficient logistics, widespread distribution, and impactful marketing to deliver an exceptional experience in the alcobev sector.

Competitive Advantages

Monika Alcobev’s strengths are rooted in several key areas:

Strategic Bonded Warehouses: Enhancing supply chain efficiency and reducing costs.
Market Leadership: Recognized as a leading player in the imported liquor segment, offering a rich and varied portfolio.
High Entry Barriers: Operating in an industry characterized by significant regulatory and capital requirements, which limits new competition.
Strong Customer Relationships: Long-standing associations with clients across various sectors.
Experienced Leadership: A seasoned management team coupled with skilled personnel possessing deep industry knowledge.

Financial Health and Performance Metrics

A crucial aspect for any investor is the company’s financial performance. Monika Alcobev has demonstrated consistent growth in its key financial indicators.

Financial Highlights (Amounts in ₹ Crore)

Period Ended	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023
Assets	323.89	216.42	128.53
Revenue	238.36	191.28	140.36
Profit After Tax (PAT)	23.11	16.60	13.03
EBITDA	46.19	32.14	24.67
Net Worth	96.01	58.53	17.12
Total Borrowing	174.10	123.16	72.06

The company has shown robust financial growth, with revenue increasing by 25% and profit after tax rising by 39% from FY24 to FY25, indicating strong operational efficiency and market expansion.

Key Performance Indicators (KPIs)

These metrics offer deeper insights into the company’s profitability, efficiency, and valuation as of March 31, 2025.

Key Performance Indicator	Value
Return on Equity (ROE)	29.91%
Return on Capital Employed (ROCE)	16.21%
Debt/Equity Ratio	1.81
Return on Net Worth (RoNW)	24.07%
PAT Margin	9.79%
EBITDA Margin	19.56%
Price to Book Value	4.94

With a market capitalization of ₹613.47 crore post-IPO, these ratios provide a basis for valuation.

Earnings and Valuation Snapshot

Metric	Pre-IPO	Post-IPO
EPS (₹)	13.87	10.78
P/E (x)	20.61	26.54

The Post-IPO EPS and P/E reflect the diluted shareholding after the issue, providing a more accurate forward-looking valuation.

IPO Objectives: Fueling Future Growth

The net proceeds from Monika Alcobev’s IPO are earmarked for strategic initiatives designed to bolster the company’s financial strength and expand its operations. The primary objectives include:

Working Capital Enhancement: A significant portion, ₹100.64 crore, will be used to meet the company’s escalating working capital needs, crucial for managing a growing inventory of luxury beverages and efficient distribution.
Debt Reduction: Approximately ₹11.45 crore is allocated for the pre-payment or repayment of specific outstanding borrowings, which will improve the company’s debt-to-equity ratio and financial flexibility.
General Corporate Purposes: The remaining funds will be utilized for various general corporate requirements, supporting ongoing business activities, strategic investments, and unforeseen operational needs.

The Driving Force: Company Promoters

The vision and leadership behind Monika Alcobev Limited are spearheaded by its promoters, Bhimji Nanji Patel and Kunal Bhimji Patel. Their pre-issue shareholding stood at 79.96%, which will adjust to 62.08% post-issue, reflecting the dilution from the fresh issue of shares.

Strategic Outlook: A SWOT Analysis

Understanding a company’s strengths, weaknesses, opportunities, and threats provides a comprehensive view for potential investors.

Strengths

Strong Market Position: A leading importer in India’s luxury alcobev segment with a diverse and premium brand portfolio.
Efficient Supply Chain: Bonded warehouses contribute to robust logistics and cost management.
Established Relationships: Long-standing ties with a broad customer base, including HORECA and retail.
Experienced Management: A capable and seasoned leadership team with in-depth industry expertise.
Consistent Financial Growth: Demonstrated increase in revenue and profitability over recent fiscal years.

Weaknesses

High Working Capital Needs: The business model of importing luxury goods often requires substantial working capital, as reflected in the IPO’s objectives.
Regulatory Complexities: The alcoholic beverage industry is subject to extensive and varied state-level regulations in India, posing compliance challenges.
Dependence on Imports: Reliance on international brands means susceptibility to global supply chain disruptions, currency fluctuations, and import duties.
Debt Levels: While manageable, the debt-to-equity ratio of 1.81 suggests a need for careful financial management.

Opportunities

Growing Luxury Market: India’s rising disposable income and evolving consumer preferences are fueling growth in the premium and luxury alcobev segment.
Expansion into New Geographies: Potential to further expand distribution within India and to other underserved regions in the Indian subcontinent.
Portfolio Diversification: Opportunities to add more exclusive brands or explore new categories within luxury beverages.
Digital Reach: Leveraging e-commerce and digital marketing to reach a wider, tech-savvy consumer base, especially where regulations permit.

Threats

Intense Competition: The luxury beverage market is competitive, with both established international players and local brands vying for market share.
Economic Downturns: Luxury goods sales are highly sensitive to economic fluctuations and consumer discretionary spending.
Changes in Government Policies: Any adverse changes in import duties, taxes, or licensing regulations could significantly impact profitability.
Brand Loyalty and Consumer Preferences: Shifting consumer tastes or a decline in popularity of existing brands could affect sales.
Counterfeit Products: Risk of counterfeit products impacting brand reputation and sales in the luxury segment.

Investor Engagement: Reservation Categories

The IPO shares are strategically allocated across different investor categories to ensure broad participation.

Investor Category	Shares Offered	Percentage of Total Issue
Market Maker	4,17,600	7.21%
Qualified Institutional Buyers (QIB)	26,85,600	46.37%
- Anchor Investor	16,10,400	27.81%
- QIB (Excl. Anchor)	10,75,200	18.57%
Non-Institutional Investors (NII/HNI)	8,06,400	13.92%
- bNII (> ₹10L)	5,37,600	9.28%
- sNII (< ₹10L)	2,68,800	4.64%
Retail Individual Investors (RII)	18,81,600	32.49%
Total Shares Offered	57,91,200	100.00%

The Role of Anchor Investors

Monika Alcobev successfully raised ₹46.06 crore from anchor investors on July 15, 2025. Anchor investors are significant institutional investors who commit to buying shares before the IPO opens to the public, signaling confidence in the issue. Their shares are subject to specific lock-in periods: 50% of their shares are locked in for 30 days (until August 20, 2025), and the remaining 50% for 90 days (until October 19, 2025).

Applying for the IPO: A General Guide

Applying for an IPO is a streamlined process for most investors with a demat and trading account. Typically, you can apply online through your broker’s platform using payment methods like UPI or ASBA (Applications Supported by Blocked Amount) via your net banking.

Ensure your demat account is active and linked to your bank account. Review the RHP (Red Herring Prospectus) for full details and risk factors before making an investment decision.

Important Contacts for Investors

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

Company Contact Details

Company Name: Monika Alcobev Ltd.
Address: 2403, 24th Floor, Signature, Suresh Sawant Road, Off Veera Desai Road, Andheri (West), Mumbai, Maharashtra, 400053
Phone: +91 022 6578 111
Email: investors.relation@monikaalcobev.com
Website: monikaalcobev.com

IPO Registrar Details

The registrar manages the IPO application and allotment process.

Registrar: MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: monikaalcobev.smeipo@in.mpms.mufg.com
Website: linkintime.co.in/Initial_Offer/public-issues.html

Final Thoughts: Is Monika Alcobev IPO for You?

Monika Alcobev’s IPO offers a gateway into the dynamic and growing luxury alcoholic beverage market. With robust financial performance, a strong competitive position, and clear growth objectives, the company presents an interesting proposition. However, as with any investment, it’s essential to conduct your own due diligence, considering the industry-specific risks and your personal financial goals.

The luxury segment in India continues to expand, driven by changing consumer lifestyles and increasing affluence. Monika Alcobev’s strategic warehousing, extensive brand portfolio, and experienced management team position it to capitalize on these trends. Carefully review the company’s financials, the IPO’s objectives, and the prevailing market conditions before deciding whether this public offering aligns with your investment strategy. Happy investing!

July 12, 2025

Spunweb Nonwoven IPO

Spunweb Nonwoven IPO: A Deep Dive into the Upcoming Public Offering

Spunweb Nonwoven IPO: Your Gateway to the Fabric of Future Growth?

The Indian primary market is buzzing with activity, and a new opportunity is on the horizon for investors interested in the industrial textiles sector. Spunweb Nonwoven Limited, a prominent manufacturer in the non-woven fabric space, is gearing up for its Initial Public Offering (IPO) on the SME platform of NSE. This upcoming public issue invites investors to become a part of a company that is foundational to various industries, from hygiene to healthcare. Let’s delve into the details to understand if this offering aligns with your investment goals.

Unveiling Spunweb Nonwoven Limited

Established in 2015, Spunweb Nonwoven Limited has carved a niche as a significant manufacturer and supplier of non-woven fabrics. These versatile materials find extensive use in products such as doormats, bags, carpets, and tarpaulins. The company’s commitment to quality is evident through its robust quality control system, which incorporates meticulous testing, inspection, and analysis to ensure superior product output.

What the Company Does: A Fabric of Innovation

Spunweb Nonwoven is at the forefront of manufacturing diverse nonwoven fabrics, including laminated and UV-treated variants. Their state-of-the-art testing facilities, equipped for Universal Tensile Testing and Rewet Properties Testing, underscore their dedication to product excellence. A significant portion of their revenue, over two-thirds, originates from the hygiene sector’s demand for fabric, with the remainder stemming from applications in the medical, packaging, agriculture, and construction industries. The company proudly exports its products to major global markets including North America, Europe, and the Middle East, serving a wide array of clients. Their manufacturing hub is strategically located in Rajkot, Gujarat.

Their product portfolio includes Hydrophobic Fabric, Hydrophilic Fabric, and UV-Treated Fabric, catering to specialized industrial needs.

Core Strengths: Weaving a Strong Foundation

Recognized as one of the largest manufacturers of spunbond nonwoven fabrics within India.
Capability for tailored spunbond nonwoven fabric manufacturing, precisely meeting industry-specific requirements.
Established long-standing relationships with a diverse clientele across various industries and geographical regions.
Utilizes advanced spunbond technology coupled with cleanroom technology, ensuring a high standard for its manufacturing processes.
Driven by experienced promoters and a robust management and execution team, guiding the company’s strategic direction.

Navigating the Public Offering – Key Details

The Spunweb Nonwoven IPO is set to be a book-building issue, aggregating up to ₹60.98 crores, entirely comprising a fresh issue of 63.52 lakh shares.

The Offering at a Glance

Detail	Information
Offering Period	July 14, 2025 – July 16, 2025
Face Value	₹10 per share
Price Range	₹90 to ₹96 per share
Minimum Application Quantity	1,200 Shares
Issue Nature	Fresh Capital
Total Offering Size	63,51,600 shares (aggregating up to ₹60.98 Cr)
Exchange for Listing	NSE SME
Book-Running Lead Manager	Vivro Financial Services Private Limited
Registrar for the Issue	MUFG Intime India Private Limited (Link Intime)

Investment Snapshot: Lot Sizes and Minimum Investment

Investors can bid for a minimum of 2,400 shares, and thereafter in multiples of 1,200 shares. The table below outlines the minimum and maximum investment amounts for retail and High Net Worth Individual (HNI) investors.

Application Category	Lots	Shares	Amount (at upper price band ₹96)
Individual Investors (Retail) (Min)	2	2,400	₹2,30,400
Individual Investors (Retail) (Max)	2	2,400	₹2,30,400
Small HNI (Min)	3	3,600	₹3,45,600
Small HNI (Max)	8	9,600	₹9,21,600
Big HNI (Min)	9	10,800	₹10,36,800

Understanding the Share Allotment: Investor Categories

The issue has specific reservation allocations for different investor categories:

Investor Category	Shares Offered (Net Issue)
Qualified Institutional Buyers (QIB)	Not more than 50%
Retail Investors	Not less than 35%
Non-Institutional Investors (NII)	Not less than 15%

Note: Bidding at cut-off price is not permitted for any category.

How Your Funds Will Be Used (Objectives of the Issue)

Spunweb Nonwoven Limited aims to utilize the net proceeds from this IPO for the following key objectives:

Meeting the working capital requirements of the company (₹290 Million).
Investing in its wholly-owned subsidiary, SIPL, to support its working capital needs (₹100 Million).
Full or partial repayment of certain existing borrowings (₹80 Million).
General corporate purposes, providing flexibility for future growth initiatives.

Anchor Investor Participation

Details regarding anchor investor participation, including shares offered, anchor portion size, and lock-in period end dates, are typically finalized closer to the bid date. For Spunweb Nonwoven IPO, the Anchor bid date is July 11, 2025.

The Timeline to Listing: A Step-by-Step Calendar

IPO Open
July 14, 2025

IPO Close
July 16, 2025

Allotment
July 17, 2025

Demat Credit
July 18, 2025

Listing
July 21, 2025

*The above timeline provides tentative dates for the Spunweb Nonwoven IPO process.
Investors should always verify final dates closer to the events.

A Deep Dive into Spunweb Nonwoven’s Foundation

Financial Performance: Weaving Growth

Spunweb Nonwoven Limited has demonstrated strong financial growth. Their revenue increased by an impressive 47%, and their profit after tax (PAT) saw a substantial rise of 98% between the financial year ending March 31, 2024, and March 31, 2025. Here’s a glance at their restated consolidated financials:

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets (₹ Crore)	182.76	106.58	93.15
Revenue (₹ Crore)	227.14	154.24	117.68
Profit After Tax (₹ Crore)	10.79	5.44	1.13
EBITDA (₹ Crore)	31.23	15.01	10.80
Net Worth (₹ Crore)	43.15	25.09	20.15
Reserves and Surplus (₹ Crore)	27.30	15.77	10.33
Total Borrowing (₹ Crore)	91.16	48.33	49.50

Valuation Insights: Key Performance Metrics

As of March 31, 2025, the market capitalization of Spunweb Nonwoven IPO is ₹231.39 Crores. Key performance indicators provide a deeper look into the company’s financial health:

Metric	Value (as of March 31, 2025)
Return on Equity (ROE)	31.63%
Return on Capital Employed (ROCE)	33.66%
Debt/Equity Ratio	2.11
Return on Net Worth (RoNW)	31.63%
PAT Margin	4.75%
EBITDA Margin	13.75%
Price to Book Value	3.95

Comparative EPS and P/E Ratios:

Metric	Pre-Offering	Post-Offering
Earnings Per Share (EPS)	₹6.08	₹4.48
Price/Earnings (P/E) Ratio	15.79x	21.44x

*The Pre-Offering EPS is based on the pre-issue shareholding and the latest FY25 earnings. The Post-Offering EPS is calculated based on the post-issue shareholding and annualized FY25 earnings.

Shareholding Structure: Promoter’s Stake

The company’s promoters are Jay Dilipbhai Kagathara and Kishan Dilipbhai Kagathara.

Holding Category	Percentage
Promoter Holding (Pre-Offering)	88.50%
Promoter Holding (Post-Offering)	Value to be calculated post-equity dilution

Strategic Outlook: A SWOT Perspective

Understanding the internal and external factors influencing Spunweb Nonwoven’s potential can offer valuable insights for prospective investors.

Strengths

Leading position as one of India’s largest spunbond nonwoven fabric manufacturers.
Diverse product portfolio serving multiple sectors (hygiene, medical, packaging, agriculture, construction).
Strong export presence across North America, Europe, and the Middle East, diversifying revenue streams.
Commitment to quality with advanced testing facilities and cleanroom technology.
Consistent financial growth with significant increases in revenue and profit after tax.
Experienced management team and promoters providing strategic direction.

Weaknesses

Relatively high Debt/Equity ratio (2.11), indicating a reliance on borrowed capital.
Significant dependence on the hygiene sector for revenue (over two-thirds), which could pose concentration risk.
SME listing may offer lower liquidity compared to mainboard listings, which is common for smaller companies.

Opportunities

Growing demand for non-woven fabrics across various industries, driven by increased awareness of hygiene, medical advancements, and sustainable packaging.
Potential for further expansion in international markets, leveraging existing export networks.
Opportunity to reduce debt through IPO proceeds, strengthening the balance sheet and improving financial ratios.
Expansion of manufacturing capabilities or diversification into allied products to capture more market share.

Threats

Intense competition from both domestic and international manufacturers in the non-woven fabric industry.
Volatility in raw material prices (e.g., polymers) could impact profit margins.
Changes in regulatory policies or environmental standards related to manufacturing could lead to increased operational costs.
Economic slowdowns or global supply chain disruptions affecting demand for industrial textiles.
Currency fluctuations impacting export revenues and import costs.

Engaging with the Offering

How to Participate: Applying for the IPO

Interested investors can apply for the Spunweb Nonwoven IPO online using either UPI or ASBA as a payment method. Many leading brokerage platforms offer a seamless application process directly from their back office or trading platforms. You’ll typically need to enter your UPI ID, the quantity of shares, and the bid price, then approve the mandate via your UPI application.

The finalization of the basis of allotment is expected on July 17, 2025, with shares credited to your demat account by July 18, 2025. The tentative listing date on NSE SME is July 21, 2025.

Key Contacts for Inquiries

For any further information or queries regarding the IPO, you can reach out to:

Spunweb Nonwoven Limited (Company Contact):
- Phone: +91-87 5894 4844
- Email: cs@spunweb.in
- Website: www.spunweb.com
Registrar to the Issue (MUFG Intime India Private Limited):
- Phone: +91-22-4918 6270
- Email: spunweb.ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html

Final Thoughts

The Spunweb Nonwoven IPO presents an interesting opportunity in the rapidly evolving non-woven fabric sector, driven by strong fundamentals and growth prospects. While the company demonstrates robust financial performance and competitive strengths, it’s essential for potential investors to consider the associated risks, including a higher debt-to-equity ratio and market-specific vulnerabilities.

As with any investment in the primary market, it is prudent to conduct your own thorough research, consider your personal financial objectives, and consult with a qualified financial advisor. Understanding all facets of the company and the market will enable you to make a well-informed decision regarding this upcoming public offering.

July 7, 2025

Asston Pharmaceuticals IPO

Charting the Future: A Deep Dive into Asston Pharmaceuticals IPO

The Indian pharmaceutical sector continues to be a hotbed of growth and innovation, constantly attracting investor interest. As a testament to this vibrancy, Asston Pharmaceuticals Limited is set to launch its Initial Public Offering (IPO), presenting a new opportunity for investors. This comprehensive guide will walk you through everything you need to know about Asston Pharmaceuticals, its business model, financial health, and the specifics of its upcoming IPO.

Unveiling Asston Pharmaceuticals: A Global Healthcare Innovator

Established in 2019, Asston Pharmaceuticals Limited has swiftly carved a niche in the global healthcare market, primarily focusing on the export of a diverse range of pharmaceutical products. The company’s portfolio includes a variety of formulations such as tablets, capsules, sachets, and syrups, catering to various therapeutic areas like analgesics, antibiotics, antifungals, and vitamins.

Beyond direct sales, Asston Pharmaceuticals also engages in contract manufacturing, collaborating with various marketers to produce pharmaceutical goods. Their commitment to quality is underscored by their FDA certifications (both Central and State FDA) and NQA accreditation, alongside adherence to Quality Management System (QMS) standards.

Key Product Offerings:

Albendazole USP 400 mg: A broad-spectrum anthelmintic for treating parasitic worm infections.
Diclofenac 100 mg: A widely used nonsteroidal anti-inflammatory drug (NSAID).
Ibuprofen, Paracetamol: Common over-the-counter medications for pain relief and fever reduction.
Ferrovit Syrup: Designed to address vitamin and mineral deficiencies.

Competitive Strengths:

Strong formulation expertise.
Guidance from experienced promoters.
A wide and diverse product range.
Strategic operational location.
A dedicated and skilled workforce.

Asston Pharma IPO at a Glance: Key Offerings

The Asston Pharmaceuticals IPO is a book-building issue aiming to raise ₹27.56 crores through a fresh issue of 22.41 lakh shares. It is an SME IPO slated for listing on the BSE SME platform. Here are the essential details:

Detail	Information
Issue Price Band	₹115 to ₹123 per share
Face Value	₹10 per share
Total Issue Size	22,41,000 shares (aggregating up to ₹27.56 Cr)
Issue Type	Bookbuilding IPO (Fresh Capital)
Listing At	BSE SME
Shares Reserved for Market Maker	1,13,000 shares (5.04%)
Net Offered to Public	21,28,000 shares (aggregating up to ₹26.17 Cr)
Pre-Issue Shareholding	62,71,360 shares
Post-Issue Shareholding	85,12,360 shares

Your IPO Journey: Important Dates & Application Steps

Mark your calendars! The Asston Pharmaceuticals IPO has a set timeline for subscription, allotment, and listing.

IPO Timeline Progress:

Open
July 9

Close
July 11

Allotment
July 14

Listing
July 16

*Note: Dates are tentative and subject to change.

Event	Tentative Date
IPO Open Date	Wednesday, July 9, 2025
IPO Close Date	Friday, July 11, 2025
Cut-off time for UPI mandate confirmation	5 PM on July 11, 2025
Tentative Allotment Date	Monday, July 14, 2025
Initiation of Refunds	Tuesday, July 15, 2025
Credit of Shares to Demat	Tuesday, July 15, 2025
Tentative Listing Date	Wednesday, July 16, 2025

Investors can typically apply for an IPO either through UPI (for retail investors using brokerage platforms) or ASBA (via their bank’s net banking portal). Ensure your Demat and trading accounts are ready for a smooth application process.

Who Gets What? Understanding the IPO Reservation Structure

The total shares offered in the Asston Pharmaceuticals IPO are allocated across various investor categories. This structure ensures participation from different segments of the market.

Investor Category	Shares Offered	Percentage (%)
Total Shares Offered	22,41,000	100.00%
Market Maker Shares	1,13,000	5.04%
Qualified Institutional Buyers (QIB)	10,60,000	47.30%
– Anchor Investor Shares	6,35,000	28.34%
– QIB (Excluding Anchor) Shares	4,25,000	18.96%
Non-Institutional Investors (NII/HNI)	3,22,000	14.37%
Retail Individual Investors (RII)	7,46,000	33.29%

Bidding Limits by Category:

Application Category	Bidding Limit
Individual Investor (Retail)	Maximum 2 lots
Small NII (sNII)	3 to 8 lots
Big NII (bNII)	9 lots and above

*Note: Bidding at cut-off price is not permitted for any category.

Decoding the Investment: Lot Sizes and Minimum Capital

Investors can bid for a minimum of 2,000 shares, and in multiples of 1,000 shares thereafter. Understanding the minimum and maximum investment per category is crucial for participation.

Application Category	Lots (Min/Max)	Shares (Min/Max)	Amount (Min/Max)
Individual Investors (Retail)	Min: 2 / Max: 2	Min: 2,000 / Max: 2,000	Min: ₹2,46,000 / Max: ₹2,46,000
S-HNI	Min: 3 / Max: 8	Min: 3,000 / Max: 8,000	Min: ₹3,69,000 / Max: ₹9,84,000
B-HNI	Min: 9	Min: 9,000	Min: ₹11,07,000

Anchor Investors: Building Early Confidence

Anchor investors play a crucial role in an IPO, instilling confidence with their early commitment. Asston Pharmaceuticals IPO successfully raised ₹7.81 crore from anchor investors ahead of its public opening.

Detail	Information
Anchor Bid Date	July 8, 2025
Shares Offered to Anchors	6,35,000
Anchor Portion Size	₹7.81 crore
50% Lock-in Period End	August 13, 2025 (30 Days)
Remaining Shares Lock-in End	October 12, 2025 (90 Days)

Asston Pharmaceuticals: A Deep Dive into Financial Performance

Analyzing a company’s financials is paramount before making investment decisions. Asston Pharmaceuticals has shown significant financial growth in recent periods.

Period Ended (March 31)	2023 (₹ Cr)	2024 (₹ Cr)	2025 (₹ Cr)	May 31, 2025 (₹ Cr)
Assets	13.69	20.26	28.12	31.83
Revenue	7.19	15.84	25.61	6.21
Profit After Tax (PAT)	1.06	1.36	4.33	1.32
EBITDA	1.52	2.55	6.16	1.93
Net Worth	1.99	6.39	10.72	12.04
Total Borrowing	5.25	6.82	7.26	7.83

The company’s revenue witnessed a robust 62% increase, and its Profit After Tax (PAT) surged by 218% between the financial year ending March 31, 2024, and March 31, 2025, indicating strong operational efficiency and growth.

Key Performance Indicators (KPIs): A Snapshot of Efficiency

As of March 31, 2025, Asston Pharmaceuticals’ market capitalization stands at ₹104.70 Cr. Here’s a look at some key performance indicators:

KPI	Value
Return on Equity (ROE)	50.56%
Return on Capital Employed (ROCE)	51.25%
Debt/Equity Ratio	0.68
Return on Net Worth (RoNW)	40.36%
PAT Margin	17.27%
EBITDA Margin	24.60%
Price to Book Value	12.07

The company’s strong ROE, ROCE, and PAT margins indicate efficient management of capital and profitability.

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

Metric	Pre-IPO	Post-IPO
EPS (Rs)	6.90	9.32
P/E (x)	17.83	13.20

Purpose of the Offer: Fueling Future Growth

The capital raised through this IPO will be strategically utilized to support Asston Pharmaceuticals’ ambitious growth plans. The primary objectives include:

Funding capital expenditure for acquiring new machinery in the manufacturing unit (₹60 Million).
Addressing incremental working capital requirements (₹130 Million).
Partial or full repayment/prepayment of existing outstanding borrowings (₹10 Million).
General corporate purposes to support overall operations and expansion.

The Visionaries Behind Asston: Promoter Details

The company is promoted by Dr. Ashish Narayan Sakalkar, Saili Jayaram More, and Sachin Chandrakant Badakh. Their collective experience and vision drive Asston Pharmaceuticals forward.

Holding Status	Percentage (%)
Share Holding Pre-Issue	68.76%
Share Holding Post-Issue	50.66%

SWOT Analysis: Assessing Asston Pharmaceuticals

A strategic analysis provides a balanced view of the company’s internal strengths and weaknesses, along with external opportunities and threats.

Strengths:

Proven Formulation Expertise: The company has a strong grasp on developing a diverse range of pharmaceutical products.
Experienced Leadership: Guided by seasoned promoters, providing stability and strategic direction.
Broad Product Portfolio: Caters to multiple therapeutic categories, reducing reliance on a single product.
Strategic Location: Operational advantages due to its geographical positioning.
Skilled and Committed Workforce: A dedicated team supports efficient operations and quality manufacturing.
Strong Quality Certifications: FDA and NQA accreditations, alongside QMS compliance, ensure high-quality standards.
Impressive Financial Growth: Significant increases in revenue and PAT in recent years demonstrate strong business performance.

Weaknesses:

Small Equity Base Post-IPO: A relatively smaller equity base after the IPO might imply a longer gestation period for significant market impact.
High Competition: Operates in a highly competitive and fragmented pharmaceutical market.
Sustainability of Recent Growth: A sudden surge in profitability in the most recent fiscal year raises questions about its consistent replicability in the long term.
Reliance on Contract Manufacturing: While offering flexibility, it might introduce external dependencies and quality control challenges.

Opportunities:

Booming Healthcare Sector: The overall growth of the healthcare and pharmaceutical industry in India and globally provides a strong tailwind.
Expanding Global Demand: Increasing demand for quality pharmaceutical products in international markets offers significant export potential.
Product Expansion: Opportunity to introduce new formulations or therapeutic categories.
Leveraging Certifications: Utilizing FDA and NQA accreditations to enter new, stricter regulatory markets.

Threats:

Intense Market Competition: Constant pressure from both established large players and emerging smaller entities.
Regulatory Changes: Evolving pharmaceutical regulations, both domestic and international, can impact operations and compliance costs.
Fluctuating Raw Material Costs: Volatility in the prices of key pharmaceutical ingredients can affect profitability.
Economic Downturns: Broader economic slowdowns can impact healthcare spending and demand.

Expert Perspectives: Navigating the Investment Decision

Asston Pharmaceuticals operates in a highly competitive segment. While the company has demonstrated impressive growth in its financial performance, particularly a significant boost in profits from the most recent fiscal year, some market observers suggest a need to assess the sustainability of this accelerated growth. Given the company’s fundamentals and the sector it operates in, well-informed and cash-surplus investors might consider this an opportunity for long-term allocation of moderate funds. Diligence in understanding market dynamics and the company’s competitive positioning remains key.

Connecting with Asston Pharmaceuticals and IPO Registrar

Company Contact Details:

Asston Pharmaceuticals Limited
4th Floor, Office No. A-431 Balaji Bhavan,
Plot No 42A Sector-11 CBD Belapur, Navi Mumbai, Thane
Navi Mumbai, Maharashtra, 400614
Phone: +91 22 49731411
Email: info@asstonpharmaceuticals.com

IPO Registrar:

Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com

Final Thoughts for Investors

The Asston Pharmaceuticals IPO offers an interesting proposition for investors keen on the Indian pharmaceutical story. With solid financials, an experienced management team, and clear objectives for the fresh capital, the company aims to capitalize on the sector’s growth trajectory. However, like all investments, it comes with inherent risks, including market competition and the need to sustain recent high growth rates. Prospective investors are advised to conduct their own thorough research, consider their risk appetite, and consult with a financial advisor before making any investment decisions. Stay informed and invest wisely!

July 5, 2025

CFF Fluid Control FPO

CFF Fluid Control FPO: Your Comprehensive Guide to this Defence Sector Investment Opportunity

CFF Fluid Control FPO: Diving Deep into India’s Defence Sector Investment Opportunity

In the dynamic landscape of the Indian stock market, opportunities often emerge from sectors critical to national growth and security. The upcoming Follow-on Public Offer (FPO) by CFF Fluid Control Limited presents one such intriguing prospect, allowing investors to potentially be part of a company deeply embedded in India’s defence manufacturing ecosystem. Let’s delve into the specifics of this FPO, understand the company’s strengths, financial health, and what it means for potential investors.

Unveiling CFF Fluid Control FPO: Your Guide to the Offering

Introducing CFF Fluid Control Limited

CFF Fluid Control Limited stands as a significant player in the specialized domain of manufacturing and servicing submarine machinery, alongside critical component systems and testing facilities for the Indian Defence Public Sector Undertaking (PSU) Shipyards. Their diverse product portfolio is essential for naval operations, encompassing fluid control systems, distributors, air panels, weapon and control systems, steering gear, propulsion systems, and high-pressure air systems.

With a robust manufacturing facility in Khopoli spanning 6,000 square meters, equipped with modern machinery, the company is also expanding with an additional facility planned in Chakan Industrial Area, Pune, covering 1,950 square meters, for manufacturing critical and complex systems. Strategic partnerships, such as with Atlas Elektronik GmbH for sonar systems, further highlight their commitment to advanced defence technology.

Key Offering Highlights

The CFF Fluid Control FPO is a fixed-price fresh issue, aiming to raise capital for its operational and growth objectives. Here are the core details:

Particular	Detail
Issue Type	Fixed Price FPO
Total Issue Size	15,00,000 equity shares
Aggregating Up To	₹87.75 Crores
Face Value Per Share	₹10
Offer Price Per Share	₹585
Listing Platform	BSE SME

Navigating the FPO Journey: Important Dates

Stay informed about the critical dates for the CFF Fluid Control FPO, from opening to its tentative listing:

FPO Opens

July 9, 2025

FPO Closes

July 11, 2025

Allotment Finalized

July 14, 2025

Refunds & Demat Credit

July 15, 2025

Tentative Listing

July 16, 2025

Understanding Investment Lots and Categories

The FPO has specific lot sizes and allocations across different investor categories:

Investor Category	Shares Offered	Percentage (%)
Reserved for Market Maker	78,000	5.20%
Net Offered to Public	14,22,000	94.80%
(within Net Offered to Public) Non-Institutional Investors (HNI)	7,11,000	47.40%
(within Net Offered to Public) Retail Individual Investors (RII)	7,11,000	47.40%
Total Shares Offered	15,00,000	100.00%

For individual investors, the lot size for application is 200 shares. Here’s a breakdown of the minimum and maximum investment amounts for various investor segments:

Application Category	Minimum Lots	Shares Per Lot	Minimum/Maximum Shares	Minimum/Maximum Amount (₹)
Retail Individual Investor	2	200	400	2,34,000
Small HNI	3 to 8	200	600 to 1,600	3,51,000 to 9,36,000
Big HNI	9 and above	200	1,800 and above	10,53,000 and above

Decoding the Company’s Core Strengths and Financial Health

CFF Fluid Control: Operational Excellence and Competitive Edge

The company boasts several distinct advantages positioning it uniquely in the market:

Robust Order Book: A substantial order book valued at ₹51,396.87 lakhs as of May 31, 2025, provides significant revenue visibility and operational stability.
High Industry Entry Barrier: Operating in the specialized defence manufacturing sector, particularly for critical submarine components, involves stringent regulatory approvals and technological expertise, creating a significant barrier for new competitors.
Strategic Global Partnerships: Collaborations with esteemed international manufacturers such as M/s Nereides and M/s Atlas Elektronik GmbH enhance technological capabilities and expand their market offerings.
Experienced Leadership: The company benefits from the guidance of seasoned promoters and a proficient management team, crucial for navigating the complexities of the defence industry.

Solid Financial Performance Trajectory

CFF Fluid Control Limited has demonstrated impressive and consistent financial growth, reflecting its strong operational foundation and increasing market presence:

Financial Snapshot (₹ in Crores)	31 March 2025	31 March 2024	31 March 2023
Total Assets	199.03	161.16	88.68
Revenue from Operations	146.10	106.98	71.10
Profit After Tax (PAT)	23.85	17.09	10.14
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	41.31	30.85	18.83
Net Worth	147.84	125.94	24.99
Reserves and Surplus	128.37	106.46	10.72
Total Borrowing	21.11	23.48	45.90

Notably, the company’s revenue surged by a robust 37% and profit after tax by 40% between the fiscal years ending March 31, 2024, and March 31, 2025, indicating strong operational efficiency and growing demand for its specialized products.

Key Performance Indicators (KPIs)

Important profitability and efficiency metrics further underscore the company’s financial health and operational effectiveness:

Performance Metric	Value (FY2025)
Return on Equity (ROE)	17.42%
Return on Capital Employed (ROCE)	21.84%
Return on Net Worth (RoNW)	16.13%
Profit After Tax Margin	16.39%
EBITDA Margin	28.38%

Promoters and Shareholding Dynamics

The company is promoted by Sunil Menon and Gautam Makker. Their shareholding before and after the FPO demonstrates their continued commitment to the company’s future:

Promoter Share Holding Pre-Issue: 73.31%
Promoter Share Holding Post-Issue: 68.06%

Strategic Vision: Objectives of the Fresh Issue

The primary objectives behind the CFF Fluid Control FPO are centered on strengthening the company’s financial position and supporting its growth initiatives. The net proceeds from this fresh issue are proposed to be utilized as follows:

Funding Working Capital Requirements: A significant portion, approximately ₹72.60 Crores, will be allocated to meet the company’s ongoing working capital needs. This ensures smooth day-to-day operations, supports larger order fulfillment, and facilitates expansion.
General Corporate Purposes: Around ₹8.34 Crores will be utilized for general corporate objectives. This provides financial flexibility for strategic investments, exploring new business opportunities, operational enhancements, and other unforeseen corporate necessities.

Strategic Outlook: A Snapshot Analysis (SWOT)

To provide a holistic view, here’s an insightful SWOT analysis for CFF Fluid Control Limited, examining its internal strengths and weaknesses, alongside external opportunities and threats:

Strengths:

Substantial order book providing revenue stability and visibility for the coming years.
High entry barriers in the highly specialized and regulated defence manufacturing sector.
Established strategic partnerships with leading international technology providers.
Proven financial growth trajectory with robust revenue and profit margins.
Experienced and knowledgeable promoter and management team.

Weaknesses:

Significant dependence on government defence contracts and a concentrated client base (Defence PSUs).
The capital-intensive nature of the business requires continuous investment in infrastructure and technology.
Exposure to policy changes and procurement cycles within the defence sector.

Opportunities:

Growing emphasis on “Make in India” in defence, fostering domestic manufacturing and procurement.
Modernization and expansion plans of the Indian Navy and other defence arms.
Potential for diversification into related product lines or services within the defence and aerospace sectors.
Leveraging existing international partnerships for technology transfer and potential export opportunities.

Threats:

Intense competition from both domestic and foreign players in the defence component manufacturing space.
Economic slowdowns or budget cuts impacting government defence spending.
Rapid technological advancements necessitating continuous R&D and adaptation to avoid obsolescence.
Geopolitical shifts influencing defence partnerships and procurement policies.

Important Stakeholders and How to Participate

Key Facilitators of the FPO

The successful execution of an FPO relies on experienced financial partners:

Book-Running Lead Manager: Aryaman Financial Services Limited
Registrar to the Issue: Cameo Corporate Services Limited

Participation Guide: Applying for the FPO

Interested investors can typically apply for FPOs through their existing demat and trading accounts. Many leading brokers offer a streamlined online application process, often integrated with UPI (Unified Payments Interface) for convenient payment. For instance, if you’re looking to participate:

Access your stockbroker’s online trading platform or application (e.g., their console or dedicated IPO/FPO section).
Locate the “CFF Fluid Control FPO” in the list of open issues.
Initiate your bid by entering your UPI ID, the number of shares you wish to apply for (in multiples of the specified lot size), and the offer price.
Confirm and submit your FPO application through the platform.
Crucially, visit your UPI-enabled payment application (like your bank’s app or BHIM UPI) to approve the payment mandate within the stipulated time.

Always ensure you have sufficient funds in your linked bank account and complete the UPI mandate approval well before the FPO closing time.

Addressing Common Questions (FAQs)

What is the CFF Fluid Control FPO?
It is a Follow-on Public Offer by CFF Fluid Control Limited, a fresh issue of 15,00,000 equity shares at a fixed price of ₹585 per share, aiming to raise ₹87.75 Crores.
When does the FPO open and close for subscription?
The FPO opens for public subscription on July 9, 2025, and concludes on July 11, 2025.
What is the minimum investment required for the FPO?
For retail individual investors, the minimum application amount is ₹2,34,000, corresponding to 400 shares (2 lots).
How can I check my allotment status for the FPO?
The finalization of the Basis of Allotment for CFF Fluid Control FPO is tentatively scheduled for Monday, July 14, 2025. You can typically check the status on the registrar’s official website or through your broker’s portal once it’s declared.
When is the tentative listing date for CFF Fluid Control FPO?
The shares are tentatively expected to be listed on the BSE SME platform on Wednesday, July 16, 2025.

Conclusion: Weighing Your Investment Decision

The CFF Fluid Control FPO presents a compelling opportunity to consider investment in a company with a significant presence in India’s strategically vital defence manufacturing sector. With a strong and growing order book, robust financial performance, and experienced leadership, the company appears well-positioned to capitalize on national growth initiatives and increasing defence indigenization efforts.

However, as with all investment avenues, this FPO comes with its set of risks, including reliance on government contracts and sector-specific challenges inherent to the defence industry. Prospective investors are strongly encouraged to conduct their own diligent research, carefully review the company’s prospectus, and consider consulting with a qualified financial advisor to ensure any investment aligns with their personal financial goals and risk tolerance.

July 4, 2025

GLEN Industries IPO

GLEN Industries IPO: A Deep Dive into Sustainable Packaging Investment

GLEN Industries IPO: Pioneering Sustainable Packaging on the Public Stage

The Indian investment landscape is buzzing with the upcoming SME IPO of GLEN Industries Limited, a company at the forefront of eco-friendly food packaging solutions. As global awareness around environmental sustainability grows, businesses like GLEN Industries are poised for significant growth, making this IPO a point of interest for discerning investors. Let’s delve deep into what GLEN Industries offers, its financial health, and what this public offering means for its future and potential investors.

About GLEN Industries Limited: A Vision for Green Packaging

Established in 2007, GLEN Industries Limited (GIL) has carved a niche for itself in the manufacturing of sustainable food packaging and service products. The company’s commitment to eco-friendly solutions addresses a critical demand in today’s market, serving a diverse clientele across various sectors.

Key Offerings and Business Focus:

Thin-Wall Food Containers: Commencing production in 2011, GIL has steadily expanded its capacity for these essential containers, catering to the Hotels, Restaurants, Cafés/Catering (HoReCa) sector and general food packaging needs.
Compostable Straws: Responding to the global movement against single-use plastics, GIL ventured into manufacturing paper and PLA straws in 2019. Their portfolio includes innovative U-shaped straws for the beverage and dairy industries, showcasing adaptability and market responsiveness.
Global Presence: With a strong export network to Europe, USA, Australia, the Middle East, and Africa, GLEN Industries tailors its products to local preferences, demonstrating a robust international market reach.
Operational Excellence: The company boasts a new 90,000 sq. ft. manufacturing facility in Dhulagarh, equipped with modern machinery and a skilled workforce, ensuring enhanced production capabilities and quality assurance.

Distinct Advantages of GLEN Industries:

Experienced Leadership: Guided by seasoned promoters and an adept management team.
Strong Customer Ties: Building enduring relationships with over 25 loyal customers, underscoring their commitment to consistency.
Advanced In-house Facilities: Possessing sophisticated processing capabilities focused on cost efficiency.
Commitment to Quality: A robust quality assurance framework ensures product excellence.
Adaptable Production: Demonstrating strong customization capabilities to meet specific client demands.

Understanding the Public Offering: GLEN Industries IPO Key Details

The GLEN Industries IPO is a significant event for investors looking to participate in the growing sustainable packaging sector. Here are the core details of the public issue:

Detail	Information
IPO Type	SME IPO (Bookbuilding)
Total Issue Size	64,96,800 shares (₹63.02 Crores)
Sale Type	Entirely a Fresh Issue
Face Value	₹10 per share
Price Band	₹92 to ₹97 per share
Lot Size	1,200 Shares
Listing At	BSE SME
Employee Discount	₹5.00 per share

Share Allocation Dynamics:

The IPO has a structured allocation plan to various investor categories:

Investor Category	Shares Offered	Percentage (%)
Market Maker Shares	3,25,200	5.01%
Qualified Institutional Buyers (QIB)	30,04,800	46.25%
Non-Institutional Investors (NII)	9,06,000	13.95%
Retail Individual Investors (RII)	21,07,200	32.43%
Employee Shares	1,53,600	2.36%
Total Shares Offered	64,96,800	100.00%

Investment Lot Sizes:

Understanding the minimum and maximum investment per category is crucial for applicants:

Application Category	Lots (Min/Max)	Shares (Min/Max)	Amount (Min/Max) at ₹97/share
Individual Investors (Retail)	2 lots (Min/Max)	2,400 Shares (Min/Max)	₹2,32,800 (Min/Max)
Small HNI (sNII)	3-8 lots	3,600 – 9,600 Shares	₹3,49,200 – ₹9,31,200
Big HNI (bNII)	9 lots and above	10,800 Shares and above	₹10,47,600 and above
Employee	2-4 lots	2,400 – 4,800 Shares	₹2,32,800 – ₹4,65,600

IPO Timeline for Investors:

Mark your calendars with these important dates for the GLEN Industries IPO:

IPO Open

Jul 8, 2025

IPO Close

Jul 10, 2025

Allotment

Jul 11, 2025

Demat Credit

Jul 14, 2025

Listing Date

Jul 15, 2025

Analyzing the Financial Performance: GLEN Industries Growth Trajectory

GLEN Industries Limited has demonstrated a compelling financial trajectory, reflecting significant growth in recent fiscal years. A closer look at its consolidated financials reveals key trends:

Period Ended	Assets (₹ Cr)	Revenue (₹ Cr)	Profit After Tax (₹ Cr)	EBITDA (₹ Cr)	Net Worth (₹ Cr)	Total Borrowing (₹ Cr)
31 Mar 2025	214.36	171.28	18.27	40.43	40.21	132.83
31 Mar 2024	160.31	145.22	8.58	24.87	26.65	88.83
31 Mar 2023	137.07	119.59	1.49	13.89	18.07	81.65

The company’s revenue increased by 18% from FY24 to FY25, while its profit after tax (PAT) saw a remarkable surge of 113% in the same period. This indicates strong operational efficiency and growing market demand for its products.

Key Performance Metrics:

A look at the company’s vital performance indicators as of March 31, 2025:

KPI	Value
Return on Capital Employed (ROCE)	16.94%
Debt/Equity Ratio	2.28
Return on Net Worth (RoNW)	45.43%
PAT Margin	10.70%
EBITDA Margin	23.60%
Price to Book Value	0.22

The company’s robust RoNW and healthy PAT margin highlight its profitability, while the Debt/Equity ratio suggests a degree of leverage that investors should note.

Understanding Valuation Aspects:

At the upper price band of ₹97 per share, the market capitalization of GLEN Industries IPO stands at ₹233.40 Crores. The valuation metrics derived from recent earnings provide a comparative view:

Metric	Pre-IPO	Post-IPO
EPS (Rs)	10.40	7.59
P/E (x)	9.33	12.78

The increase in P/E post-IPO reflects the dilution from the fresh issue of shares, which is a common aspect of such offerings. Investors typically assess if this valuation aligns with the company’s growth prospects and industry comparables.

Strategic Use of IPO Proceeds: Driving Future Growth

The primary objectives for raising capital through this IPO are clearly defined:

Establishing a New Manufacturing Facility: A significant portion of the net proceeds, ₹47.73 Crores, is earmarked for setting up a new manufacturing facility in Purba Bardhaman, West Bengal. This expansion is crucial for enhancing production capacity and meeting the escalating demand for their products.
General Corporate Purposes: The remaining funds will be allocated towards various general corporate needs, which may include working capital requirements, strategic investments, and other operational expenses essential for the company’s ongoing growth and stability.

Holistic Business Assessment: A SWOT View

A comprehensive understanding of GLEN Industries involves evaluating its internal strengths and weaknesses, alongside external opportunities and threats.

Strengths:
- Pioneer in eco-friendly packaging, aligning with global trends.
- Established manufacturing capabilities with a new, advanced facility.
- Diversified product portfolio (containers, multiple straw types).
- Strong export market presence and loyal customer base.
- Experienced management team.
Weaknesses:
- Operating in a highly competitive and fragmented market.
- Sustainability of recent boosted profits needs careful monitoring.
- High debt-to-equity ratio (2.28) indicates reliance on borrowed capital.
Opportunities:
- Increasing consumer and regulatory demand for sustainable packaging solutions.
- Expansion into new geographical markets or product lines.
- Potential for technological advancements in eco-friendly materials.
- Government initiatives promoting sustainable manufacturing.
Threats:
- Intense competition from domestic and international players.
- Fluctuations in raw material prices (paper, PLA).
- Changes in environmental regulations or government policies.
- Economic downturns affecting consumer spending and industrial demand.
- Potential for new, more disruptive eco-friendly technologies.

Analyst Perspective: A Balanced View

Market observers suggest that GLEN Industries, with its focus on eco-friendly products, operates in a segment with significant growth potential. The company’s recent financial performance shows impressive growth in both revenue and profit. However, some have noted the sharp increase in profits for the latest fiscal years, prompting a closer look into their sustainability given the competitive nature of the industry. For investors who are well-informed and have surplus capital, considering a moderate allocation for a long-term investment horizon might be a viable approach.

Participating in the GLEN Industries IPO: A General Guide

For those interested in applying to the GLEN Industries IPO, the process is largely streamlined through various brokerage platforms. Typically, you can apply online using UPI as a payment gateway, directly through your trading account’s backend portal. For instance, many brokerage platforms offer a dedicated IPO section where you can find the GLEN Industries IPO, enter your bid details (UPI ID, quantity, price), and then approve the mandate through your UPI app. Always ensure you have sufficient funds in your linked bank account and that your demat account is active.

Before You Invest: Important Considerations

Investing in an IPO, especially an SME IPO, comes with its own set of risks and opportunities. While GLEN Industries operates in a promising sector and shows strong recent financials, it’s essential to conduct thorough due diligence. Consider the competitive landscape, the company’s ability to maintain its growth trajectory, and the broader market conditions. It is advisable to review the Red Herring Prospectus (RHP) for comprehensive details and consult with a financial advisor to align the investment with your personal financial goals and risk appetite. The SME segment can offer higher rewards but often comes with higher volatility and lower liquidity compared to mainboard listings.

Conclusion

GLEN Industries Limited’s IPO presents an intriguing opportunity within the burgeoning eco-friendly packaging industry. With its strategic expansion plans, strong financial growth, and commitment to sustainable products, the company is positioning itself for a significant role in the market. As with any investment, a careful analysis of the company’s fundamentals, market dynamics, and a clear understanding of your investment objectives will be key to making an informed decision. This IPO is more than just an investment; it’s a chance to be part of India’s journey towards a greener and more sustainable future.

July 4, 2025

Chemkart India IPO

Chemkart India IPO: Your Comprehensive Guide to This Upcoming Investment Opportunity

Chemkart India IPO: A Deep Dive into This Upcoming Investment Opportunity

The Indian stock market continues to be a vibrant landscape for investors, with Initial Public Offerings (IPOs) often capturing significant attention. As we look towards July 2025, Chemkart India Limited is set to join the ranks, launching its SME IPO. This comprehensive guide will walk you through everything you need to know about Chemkart India IPO, from its business model to financial health, key dates, and a strategic outlook, helping you make an informed decision.

Understanding Chemkart India Limited: Bridging Global Ingredients to Local Businesses

Chemkart India Limited, established in 2015, operates as a specialized distributor of high-quality food and health ingredients. The company plays a crucial role in the supply chain, connecting international ingredient manufacturers with diverse businesses across various sectors within India.

With a strong focus on the Business-to-Business (B2B) segment, Chemkart India provides essential raw materials for manufacturing a wide range of supplements, including those for sports, general health, vitamins, and protein. Their core philosophy revolves around offering variety, maintaining affordability, ensuring product quality, and nurturing strong customer relationships, all aimed at optimizing the supply chain for their clients.

Beyond distribution, Chemkart India boasts in-house processing and warehousing capabilities at its hygienic facility in Bhiwandi, Mumbai. This 28,259.16 sq. ft. warehouse is equipped for efficient grinding, blending, packaging, labeling, and sealing of ingredients, adding significant value to their offerings.

Product Portfolio Highlights:

Amino Acids: Fundamental building blocks for proteins, crucial for biological functions and metabolism.
Health Supplements: Products enriched with vital nutrients and bioactive compounds for overall well-being.
Herbal Extracts: Plant-derived extracts utilized for their therapeutic and functional properties.
Nucleotides: Key components that bolster immune and gut health, alongside providing nutritional benefits.
Proteins: Essential for muscle development, immune system support, and general physiological health.
Sports Nutrition: Ingredients specifically designed to enhance athletic performance, endurance, and recovery.
Vitamins: Micronutrients indispensable for various bodily functions.

Core Strengths Driving Growth:

Diverse Product Range: A broad portfolio catering to multiple needs in the food and health sector, reducing reliance on a single product line.
Integrated Operations: In-house processing and warehousing capabilities enhance efficiency and quality control, ensuring better product delivery.
Customer-Centric Value Proposition: A strong focus on delivering consistent value to its B2B clientele fosters long-term relationships and repeat business.

The Investment Opportunity: Chemkart India IPO at a Glance

Here’s a breakdown of the Chemkart India IPO, offering a snapshot of this upcoming public offering:

Key IPO Details:

Detail	Information
IPO Dates	July 7, 2025 – July 9, 2025
Issue Price Band	₹236 to ₹248 per share
Face Value	₹10 per share
Issue Type	Bookbuilding IPO (SME)
Total Issue Size	32,29,200 shares (aggregating up to ₹80.08 Cr)
Fresh Issue Component	26.00 lakh shares (₹64.48 Cr)
Offer for Sale (OFS) Component	6.29 lakh shares (₹15.60 Cr)
Listing At	BSE SME
Book-Running Lead Manager	Smart Horizon Capital Advisors Private Limited
Registrar	Bigshare Services Pvt Ltd
Market Maker	Alacrity Securities Ltd.

Investment Tiers and Lot Sizes:

Understanding the lot size is crucial for individual and high-net-worth investors. Here’s how you can plan your application:

Application Category	Minimum Lots	Minimum Shares	Minimum Amount
Individual Investors (Retail)	2	1,200	₹2,97,600
Small High Net Worth Individuals (sNII)	3	1,800	₹4,46,400
Big High Net Worth Individuals (bNII)	7	4,200	₹10,41,600

*Bidding at the cut-off price is not permitted for any category in this IPO.

Strategic Objectives Behind the IPO:

Chemkart India Limited intends to utilize the net proceeds from the IPO for the following key purposes:

Capital Expenditure for New Manufacturing Facility: A significant portion will be invested in Easy Raw Materials Private Limited, a wholly-owned subsidiary, to establish a new manufacturing facility. (Expected Amount: ₹34.68 crores)
Debt Repayment/Prepayment: To strengthen the company’s financial structure by repaying or prepaying existing borrowings. (Expected Amount: ₹20.00 crores)
General Corporate Purposes: To address general business needs, operational requirements, and strategic initiatives that support the company’s growth.

Financial Health & Valuation Insights

A closer look at Chemkart India’s financial performance provides critical insights into its growth trajectory and current valuation.

Recent Financial Performance (Restated Consolidated):

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets (₹ Cr)	86.12	53.51	37.48
Revenue (₹ Cr)	205.46	132.83	131.69
Profit After Tax (₹ Cr)	24.26	14.52	7.66
EBITDA (₹ Cr)	32.76	20.91	11.05
Net Worth (₹ Cr)	53.29	29.01	14.50
Total Borrowing (₹ Cr)	17.03	12.55	11.33

Chemkart India has demonstrated robust financial growth, with revenue increasing by 55% and Profit After Tax (PAT) rising by an impressive 67% between FY24 and FY25. This indicates strong operational performance and expanding profitability over the past two fiscal years.

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

KPI	Value
Return on Equity (ROE)	59%
Return on Capital Employed (ROCE)	49%
Debt/Equity Ratio	0.32
Return on Net Worth (RoNW)	45.52%
EBITDA Margin	16.12%
Price to Book Value	8.12

The company’s strong ROE and ROCE figures reflect efficient utilization of shareholder funds and capital. A healthy debt-to-equity ratio further indicates a manageable debt level, contributing to financial stability.

Valuation Assessment:

With a market capitalization of ₹300.06 crores, the IPO valuation stands as follows:

Metric	Pre-IPO	Post-IPO
EPS (₹)	25.54	20.05
P/E (x)	9.71	12.37

*Pre-IPO EPS is based on pre-issue shareholding and FY25 earnings. Post-IPO EPS is calculated based on post-issue shareholding and annualized FY25 earnings.

While the company has shown impressive growth, the post-issue P/E ratio suggests the issue is fully priced at the upper end of the band, a common characteristic in current market conditions. Investors should carefully consider this alongside the company’s growth prospects and industry comparisons.

IPO Journey: A Tentative Timeline

Stay informed about the key dates for the Chemkart India IPO with this tentative schedule, from opening to listing:

IPO OpenMon, Jul 7, 2025

IPO CloseWed, Jul 9, 2025

Allotment FinalizationThu, Jul 10, 2025

Demat CreditFri, Jul 11, 2025

Listing DateMon, Jul 14, 2025

Event	Tentative Date
IPO Open Date	Monday, July 7, 2025
IPO Close Date	Wednesday, July 9, 2025
Tentative Allotment Date	Thursday, July 10, 2025
Initiation of Refunds	Friday, July 11, 2025
Credit of Shares to Demat Account	Friday, July 11, 2025
Tentative Listing Date	Monday, July 14, 2025
Cut-off time for UPI mandate confirmation	5 PM on July 9, 2025

Anchor Investors: A Glimpse of Institutional Interest

Anchor investors play a crucial role in building confidence for an IPO by committing significant investments before the main public offering. Chemkart India IPO successfully raised ₹22.60 crores from anchor investors, signaling institutional backing for the issue.

Anchor Bid Date: July 4, 2025
Shares Offered to Anchor Investors: 9,11,400
Anchor Portion Size: ₹22.60 crores
Anchor Lock-in Period (50% shares): Ends August 9, 2025 (30 days from allotment)
Anchor Lock-in Period (Remaining shares): Ends October 8, 2025 (90 days from allotment)

Promoters and Shareholding Structure

The promoters of Chemkart India Limited are Mr. Ankit Shailesh Mehta, Ms. Parul Shailesh Mehta, and Mr. Shailesh Vinodrai Mehta. Before the IPO, the promoters held 100% of the company’s shares. Post-IPO, the shareholding structure will be diluted based on the fresh issue component, reflecting a broader public ownership.

The IPO involves a total of 32,29,200 shares. The reservation breakdown for different investor categories is as follows:

Investor Category	Shares Offered	Percentage (%)
Market Maker Shares	1,66,200	5.15%
QIB (Qualified Institutional Buyers)	15,21,000	47.10%
– Anchor Investor Shares	9,11,400	28.22%
– QIB (Excluding Anchor)	6,09,600	18.88%
NII (Non-Institutional Investors/HNI)	4,63,200	14.34%
Retail Individual Investors (RII)	10,78,800	33.41%
Total Shares Offered	32,29,200	100.00%

SWOT Analysis: Unpacking Chemkart India’s Potential

A strategic analysis of Chemkart India Limited reveals its inherent strengths, potential weaknesses, market opportunities, and external threats, providing a holistic view for potential investors.

Strengths:

Comprehensive Product Portfolio: Offering a wide array of food and health ingredients caters to diverse client needs, reducing reliance on a single product line and enhancing market reach.
Integrated Supply Chain: In-house processing, grinding, blending, and warehousing facilities provide greater control over quality and efficiency, potentially leading to better margins and customer satisfaction.
Strong B2B Focus: Concentrating on bulk distribution to businesses allows for stable, larger orders and specialized client relationships, fostering predictable revenue streams.
Consistent Financial Growth: Demonstrated significant revenue and profit growth in recent financial years indicates a healthy business trajectory and effective operational management.

Weaknesses:

Intense Market Competition: The food and health ingredients distribution sector is highly fragmented and competitive, which could put pressure on pricing, margins, and market share.
Dependency on Third-Party Manufacturers: As primarily a distributor, the company relies on global ingredient manufacturers, making it susceptible to supply chain disruptions, quality control issues from suppliers, or price fluctuations in raw materials.
Recent Profitability Surge: The substantial boost in bottom lines from FY24 onwards, while positive, may warrant a deeper look by potential investors to understand its sustainability and the underlying factors driving such rapid growth in a competitive environment.
SME Platform Listing: Listing on the BSE SME platform inherently carries higher risk and potentially lower liquidity compared to mainboard listings, which could be a consideration for certain investor profiles.

Opportunities:

Growing Health and Wellness Market: Increasing consumer awareness about health, nutrition, and supplements in India presents a significant growth avenue for the company’s product portfolio, driven by changing lifestyles and disposable incomes.
Expansion of Manufacturing Capabilities: Utilizing IPO proceeds to set up a new manufacturing facility could transition the company from purely distribution to value-added production, enhancing margins, control over product quality, and creating new revenue streams.
Diversification into New Segments: Potential to expand into allied ingredient sectors, explore complementary product lines, or even venture into direct-to-consumer (D2C) models, leveraging its existing expertise and network.
Technological Adoption: Leveraging digital technologies for supply chain optimization, advanced inventory management, and enhanced customer relationship management can unlock further efficiencies and market penetration.

Threats:

Regulatory Changes: Strict and evolving regulations around food and health supplements, including import/export policies, quality standards, and labeling, could impact operations and increase compliance costs.
Economic Downturns: A slowdown in the broader economy could affect the purchasing power of B2B clients, leading to reduced demand for ingredients and impacting the company’s sales.
Currency Fluctuations: As the company deals with global ingredient manufacturers, adverse currency movements could significantly increase import costs and negatively affect profitability.
New Entrants and Disruptive Technologies: The entry of new, innovative players or the emergence of disruptive technologies in distribution or ingredient synthesis could pose a threat to the company’s market position.

Applying for the IPO: A Step-by-Step Guide

For those looking to participate in the Chemkart India IPO, the application process is straightforward:

Choose Your Broker: Ensure you have a demat and trading account with a registered stockbroker (e.g., popular discount brokers like Zerodha, Upstox, 5Paisa, or full-service brokers like Angel One).
Access the IPO Section: Log in to your broker’s trading platform or back office portal. Look for the ‘IPO’ or ‘Invest in IPO’ section, which is usually prominently displayed.
Select Chemkart India IPO: Find the Chemkart India IPO in the list of currently open or upcoming issues.
Enter Bid Details: Input your UPI ID (for UPI applications) or select ASBA (if applying through your bank’s net banking). Enter the number of lots you wish to bid for and your desired price within the specified price band. You may also have the option to bid at the ‘cut-off price’ for retail applications.
Submit Application: Carefully review your bid details and submit the IPO application.
Authorize Payment: If using UPI, you will receive a mandate request on your chosen UPI app (e.g., GPay, PhonePe, BHIM). Authorize this mandate by the stipulated cut-off time to block the application amount. If using ASBA through net banking, authorize the payment directly via your bank portal.

Is Chemkart India IPO Right for You? A Concluding Perspective

Chemkart India Limited operates in a dynamic and growing sector with increasing demand for health and food ingredients. The company’s consistent financial performance, diversified product portfolio, and strategic objectives for utilizing IPO proceeds present a compelling narrative for growth.

However, the competitive nature of the industry and the valuation metrics, particularly the post-issue P/E, suggest the issue is fully priced. Investors should weigh the company’s strong growth against the inherent risks of a fragmented market and the valuation. Seasoned investors with a higher risk appetite and a long-term investment horizon may consider parking moderate funds in this IPO, especially if they believe in the long-term growth story of the health and food ingredients sector and the company’s ability to navigate competition effectively. It is always advisable to conduct your own thorough due diligence and consult with a qualified financial advisor before making any investment decisions.

Overall IPO Recommendation Summary:

Review Category	Subscribe	Neutral	Avoid
General Broker Consensus	1	0	0
Community Sentiment	0	0	0

(Note: General broker consensus indicates a positive outlook based on available data, while specific community sentiment data was not provided for this analysis.)

Company and Registrar Contact Information

Chemkart India Limited Contact Details:

Detail	Information
Office Address	Office No. 403/404, 4th Floor, K.L. Accolade, 6th Road, TPS III, Santacruz (East), Mumbai, Maharashtra, 400055
Phone	+91 9136383828
Email	investors@chemkart.com
Website	https://chemkart.com/

IPO Registrar Details:

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

July 4, 2025

Category: SME IPO

TSC India IPO

Decoding the TSC India IPO: Your Comprehensive Guide to a New Investment Horizon

Unveiling TSC India Ltd.: A Closer Look at the Business

Core Services Offered by TSC India:

Key Details of the TSC India IPO

Investing in TSC India IPO: The Lot Size and Investment

Understanding the Financial Health: A Deep Dive into TSC India’s Books

Financial Performance Overview (Restated Consolidated Figures)

Key Financial Performance Indicators (as of March 31, 2025)

Behind the Scenes: Promoters and IPO Objectives

Promoter Shareholding:

Purpose of the Issue:

Anchor Investors: Building Confidence

The Landscape Ahead: A Strategic Analysis (SWOT)

Strengths:

Weaknesses:

Opportunities:

Threats:

Navigating Your Application: Essential Contacts

TSC India Ltd. Corporate Office:

IPO Registrar: Bigshare Services Pvt Ltd

Final Thoughts: Is TSC India IPO for You?

Monarch Surveyors and Engineering Consultants

Monarch Surveyors IPO: Charting a Course for Growth

Monarch Surveyors: At a Glance

Core Services:

Understanding the Investment Opportunity

IPO Key Specifications:

Investment Timetable

Lot Size & Investment Brackets:

Share Reservation Breakdown

Anchor Investor Participation:

Meet the Visionaries: Company Promoters

Ownership Structure (Promoter Holding):

Financial Health Snapshot

Key Financial Highlights (Restated, in ₹ Crores):

Performance Indicators (as of Mar 31, 2025):

Valuation Metrics:

Purpose of the Offering

SWOT Analysis: Assessing Monarch Surveyors

Strengths:

Weaknesses:

Opportunities:

Threats:

Connect with Monarch Surveyors

Official Registrar for the IPO

Conclusion: Navigating the Monarch Surveyors IPO

Swastika Castal IPO

Decoding the Swastika Castal IPO: A Comprehensive Guide for Investors

**Unveiling Swastika Castal Limited**

**Product Range and Applications:**

**Core Strengths Driving Growth:**

**The Investment Horizon: Swastika Castal IPO at a Glance**

**Investor Categories and Application Details**

**Understanding Lot Sizes and Investment Amounts:**

**Analyzing the Financial Landscape**

**Key Performance Indicators (KPIs):**

**Promoting Growth: Objectives of the IPO**

**Leadership and Ownership: Promoter Information**

**Strategic Insights: A SWOT Analysis**

**Strengths:**

**Weaknesses:**

**Opportunities:**

**Threats:**

**Key Facilitators: Registrar and Lead Manager**

**Navigating the Application Process: Common Questions Answered**

**What is the Swastika Castal IPO?**

**How to Apply for Swastika Castal IPO?**

**When will Swastika Castal IPO Open?**

**What is the Lot Size for Swastika Castal IPO?**

**When is Swastika Castal IPO Allotment?**

**When is Swastika Castal IPO Listing Date?**

**Concluding Thoughts: A Path Forward**

Savy Infra and Logistics IPO

Savy Infra IPO: Unpacking a New Opportunity in India’s Growth Story

Understanding Savy Infra & Logistics Ltd.: A Business Snapshot

Decoding the Savy Infra Public Offering

Allocation Strategy: Understanding Investor Categories

The Investment Gateway: Lot Sizes & Financial Commitments

Unveiling Swastika Castal Limited

Product Range and Applications:

Core Strengths Driving Growth:

The Investment Horizon: Swastika Castal IPO at a Glance

Investor Categories and Application Details

Understanding Lot Sizes and Investment Amounts:

Analyzing the Financial Landscape

Key Performance Indicators (KPIs):

Promoting Growth: Objectives of the IPO

Leadership and Ownership: Promoter Information

Strategic Insights: A SWOT Analysis

Strengths:

Weaknesses:

Opportunities:

Threats:

Key Facilitators: Registrar and Lead Manager

Navigating the Application Process: Common Questions Answered

What is the Swastika Castal IPO?

How to Apply for Swastika Castal IPO?

When will Swastika Castal IPO Open?

What is the Lot Size for Swastika Castal IPO?

When is Swastika Castal IPO Allotment?

When is Swastika Castal IPO Listing Date?

Concluding Thoughts: A Path Forward