Public Listing

Category: SME IPO

  • NFP Sampoorna Foods

    Decoding the NFP Sampoorna Foods SME IPO: Your Comprehensive Guide

    Insights into the upcoming food processing player’s market debut on Publiclisting.in

    Introduction: Tapping into the Dry Fruits Sector

    The SME segment continues to be a vibrant avenue for investors seeking early-stage growth opportunities. Amongst the upcoming listings, NFP Sampoorna Foods Ltd. is poised to enter the public domain with its Initial Public Offering (IPO). Specializing in the processing and distribution of premium dry fruits, especially cashew nuts, this company presents an interesting proposition for those tracking the fast-moving consumer goods (FMCG) segment focused on healthy eating. This detailed analysis aims to equip you with all necessary data points, from the financials to the application process, ensuring an informed investment decision.

    NFP Sampoorna Foods: Business Snapshot and Strengths

    Established in 2019, NFP Sampoorna Foods Ltd. has carved a niche in sourcing, processing, and distributing high-quality dry fruits. They primarily procure raw cashews via imports from Africa, adhering to stringent quality benchmarks.

    Core Business Offerings:

    • Cashew Nuts: Available in various specifications like W320 and W400 grades.
    • Almonds: Sourced from top growers, offered both natural and roasted.
    • Makhana (Fox Nuts): Catered in plain, roasted, and flavored variants.
    • Gifting Solutions: Specialized gift packs popular for festive and corporate needs.

    Competitive Edge:

    • Strong foundation provided by experienced promoters and management.
    • Established relationships with clients across retail and institutional segments.
    • Commitment to quality, backed by ISO 9001:2015 and ISO 22000:2018 certifications.
    • Demonstrated consistent growth, profitability, and healthy cash flow generation.

    Key IPO Structuring Details

    This is a Book Building IPO on the NSE SME platform, aiming to raise capital primarily for working capital needs and debt reduction.

    DetailSpecification
    Issue TypeFresh Issue (Bookbuilding)
    Total Issue Size (Value)₹24.53 Crores
    Total Shares Offered44,60,000 Equity Shares
    Listing ExchangeNSE SME

    Pricing, Lot Size, and Investment Structure

    Understanding the price band and minimum application size is crucial for retail participation.

    Price Band and Lot Details:

    ComponentDetails
    Face Value₹10 per share
    Price Band₹52 to ₹55 per share
    Minimum Lot Size2,000 Shares
    Minimum Retail Investment (Upper Price)₹2,20,000 (2 Lots)

    Investment Application Sizing:

    Investor CategoryMinimum LotsShares AppliedApprox. Investment (Upper Price)
    Retail Individual Investor (RII)24,000₹2,20,000
    Small NII (S-HNI)36,000₹3,30,000

    IPO Timeline: Critical Dates at a Glance

    Mark your calendars for the key dates concerning the bidding, allotment, and listing of the shares.

    IPO Opens: Tue, Jan 27, 2026
    IPO Closes: Fri, Jan 30, 2026
    Tentative Allotment Date: Sun, Feb 1, 2026
    Tentative Listing Date: Tue, Feb 3, 2026

    IPO Allocation Breakdown:

    Investor CategoryShares ReservedPercentage (%)
    Qualified Institutional Buyers (QIB)21,16,00047.44%
    Non-Institutional Investors (NII)6,36,00014.26%
    Retail Individual Investors (RII)14,84,00033.27%
    Market Maker Reserved2,24,0005.02%

    Financial Health and Valuation Metrics

    Examining the restated consolidated financials provides essential context on the company’s trajectory leading up to the listing.

    Historical Financial Performance (Amounts in ₹ Crore):

    Metric30 Nov 2025 (Est.)31 Mar 202531 Mar 202431 Mar 2023
    Total Income36.9635.7623.3116.75
    Profit After Tax (PAT)3.492.671.020.41
    Total Borrowing24.9411.3618.90N/A

    Key Performance Ratios (KPIs):

    KPI30 Nov 202531 Mar 2025
    Return on Equity (ROE)28.21%34.82%
    PAT Margin9.46%7.50%
    Debt/Equity Ratio1.591.26

    Valuation Context and Promoter Stake

    The post-listing market capitalization is estimated at approximately ₹69.49 Crore. The Earnings Per Share (EPS) post-issue is calculated at ₹4.14, yielding a Price-to-Earnings (P/E) ratio of about 13.28x based on the latest annualized earnings.

    Pre and Post-Issue Shareholding:

    Holding AspectPercentage (%)
    Promoter Holding (Pre-Issue)99.99%
    Promoter Holding (Post-Issue)(Reduced due to fresh issue)

    The company is currently promoted by Praveen Goel, Anju Goel, and Yash Vardhan Goel.

    Utilizing the Proceeds: Objectives of the Issue

    The funds raised are earmarked for specific operational and financial enhancements, signaling management’s focus areas:

    ObjectiveEstimated Amount (₹ Crore)
    Working Capital Funding7.25
    Repayment/Prepayment of Borrowings9.50
    General Corporate Purposes(Balance)

    SWOT Perspective on NFP Sampoorna Foods

    A balanced look at the company’s internal capabilities and external environment is essential for risk assessment.

    Strengths

    • Strong focus on high-demand premium dry fruits.
    • Certifications ensure adherence to food safety standards.
    • Proven ability to generate profit and cash flow growth recently.

    Opportunities

    • Growing consumer preference for healthy, packaged dry fruits.
    • Expansion into wider distribution networks (online/offline).
    • Potential scale-up in procurement efficiency via improved working capital.

    Weaknesses

    • Significant reliance on imported raw materials (currency risk).
    • High current borrowing levels relative to equity base.

    Threats

    • Volatility in global commodity prices and supply chain disruptions.
    • Intense competition from established FMCG players.

    Intermediaries Managing the Listing

    The smooth execution of the IPO relies on specialized financial partners:

    Lead Manager and Registrar:

    RoleName
    Book Running Lead Manager (BRLM)3Dimension Capital Services Ltd.
    Registrar and Share Transfer AgentSkyline Financial Services Pvt.Ltd.
    Market MakerAftertrade Broking Pvt.Ltd.

    For allotment status checks after the finalization date, investors should reach out to the Registrar using their contact details (phone/email provided in the data source, generalized here as official contact channels).

    How to Participate: Application Methods

    The application process for SME IPOs like this one is primarily conducted digitally via UPI or ASBA.

    Applying via Broker Platforms:

    Most retail investors utilize their existing brokerage accounts (like Zerodha, Upstox, etc.) to place bids. The standard procedure involves logging into the broker’s online portal or mobile application, selecting the NFP Sampoorna Foods IPO, specifying the lot size, and approving the mandate request received in the linked UPI application.

    • Payment Gateway: UPI mandate approval is essential for the application to be accepted.
    • ASBA Route: Alternatively, applications can be placed through the Net Banking facility linked to an ASBA-enabled bank account.

    Concluding Thoughts on the NFP Sampoorna Foods IPO

    NFP Sampoorna Foods presents a profile of rapid growth in a niche but expanding sector. The company shows commendable revenue and profit trajectory in recent periods. However, the current valuation based on recent financials requires careful consideration, as does the existing debt structure. Potential investors should weigh the appeal of investing in a specialized food processor against the risks associated with SME segment volatility and the relatively high leverage. Diligent study of the Red Herring Prospectus (RHP) and tracking subscription levels leading up to the closing date will provide the final sentiment check before committing funds.

    © 2026 Publiclisting.in. All rights reserved. This analysis is based on publicly provided information and should not be construed as investment advice.

  • Kasturi Metal Composite

    Kasturi Metal Composite IPO Analysis: Key Insights for Investors

    Publiclisting.in Analysis

    Decoding the Kasturi Metal Composite IPO: Your Essential Guide

    Introduction: Entering the SME Arena with Kasturi Metal Composite

    The Indian capital markets continue to buzz with opportunities, particularly in the Small and Medium Enterprises (SME) segment. The upcoming Initial Public Offering (IPO) from Kasturi Metal Composite Limited (KMCL) presents a chance for investors to look closely at a specialized manufacturing player. This book-building issue on the BSE SME platform is structured to raise significant capital for future expansion. Understanding the nuances of this offering, from its business model to its financial health, is crucial before making any investment decisions.

    Understanding Kasturi Metal Composite Limited (KMCL)

    Incorporated in 2005, KMCL has carved a niche for itself in the industrial sector by focusing on the manufacturing, supply, and export of specialized steel fiber products. These components are vital for ensuring structural integrity across various heavy-duty applications.

    Core Business and Offerings:

    • Product Specialization: The company is deeply involved in producing Steel Wool Fiber, primarily used in demanding areas like brake pads and clutches.
    • Diversified Offerings: Beyond fibers, they trade in Durocrete PP Fibers and provide robust concrete flooring solutions via their association with Durafloor Concrete Solution LLP.
    • Market Reach: Their products, marketed under brand names like Duraflex and Durabond, cater to critical sectors including construction, mining, and the automotive industry, supporting projects like tunnels, roads, and bridges.
    • Manufacturing Backbone: Operations are consolidated across three units in MIDC Amravati, focusing on wire drawing and the production of steel fibers and mild steel wires, ensuring high operational efficiency.

    Competitive Advantages:

    • Possesses strong, established manufacturing capabilities tailored for specialty products.
    • Offers a wide and diverse portfolio of steel fiber products meeting varied industrial specifications.
    • Maintains rigorous quality control mechanisms for consistent product standards.
    • Enjoys established relationships with a broad customer base across different regions.
    • Guided by an experienced Promoter and a solid management team, spearheaded by promoter Samit Surendra Singhai.

    Kasturi Metal Composite IPO: Key Subscription Details

    The Kasturi Metal Composite IPO is an entirely fresh issue designed to fuel the company’s next phase of growth. Below are the critical dates and pricing details prospective investors need to note.

    IPO Timetable Overview (Tentative Schedule)

    EventTentative DateStatus Indicator
    IPO Opens for SubscriptionTuesday, January 27, 2026
    50%
    IPO Closes for SubscriptionThursday, January 29, 2026
    75%
    Basis of Allotment FinalizationFriday, January 30, 2026
    85%
    Refund Initiation / Share CreditMonday, February 2, 2026
    95%
    Tentative Listing Date (BSE SME)Tuesday, February 3, 2026
    100%

    Issue Structure and Pricing:

    ParameterDetail
    Issue TypeBookbuilding IPO
    Total Issue Size (Shares & Value)27.52 Lakh Shares (Aggregating up to ₹18 Crore)
    Face Value₹10 per share
    Price Band₹61 to ₹64 per share
    Listing ExchangeBSE SME

    Investment Lot Size for Retail Investors:

    Investors must adhere to the defined lot sizes for making applications.

    Investor CategoryMinimum LotsShares per LotMinimum Investment (Upper Price ₹64)
    Retail Individual Investor (Minimum)2 Lots4,000 Shares₹2,56,000
    S-HNI (Minimum)3 Lots6,000 Shares₹3,84,000

    Allocation Strategy and Anchor Investor Activity

    The IPO features a fixed allocation structure across different investor categories, with a dedicated portion reserved for Anchor Investors prior to the public opening.

    Share Reservation Breakdown:

    Investor CategoryShares OfferedPercentage (%)
    Qualified Institutional Buyers (QIB) Total13,04,00047.38%
    QIB (Excluding Anchor)5,22,00018.97%
    Non-Institutional Investors (NII)3,94,00014.32%
    Retail Individual Investors (RII)9,16,00033.28%
    Anchor Investors7,82,00028.42%
    Market Maker1,38,0005.01%

    Anchor Investor Insights:

    The company secured initial funding commitment through the Anchor Investor route before the main subscription opened.

    • Funds Raised from Anchors: Approximately ₹5.00 Crore.
    • Anchor Bid Date: January 23, 2026.
    • Lock-in Periods: 50% of anchor shares are subject to a 30-day lock-in expiring around March 1, 2026, with the remaining 50% locked in until approximately April 30, 2026.

    Company Financial Health and Valuation Metrics

    Assessing the historical performance and current valuation parameters helps gauge the attractiveness of the price band offered in the IPO.

    Financial Performance Snapshot (Restated Consolidated in ₹ Crore):

    MetricSep 30, 2025Mar 31, 2025Mar 31, 2024Mar 31, 2023
    Total Income32.2957.2250.2037.37
    Profit After Tax (PAT)2.472.072.351.49
    Total Assets44.4335.5733.4521.71
    Total Borrowing14.2813.1511.839.78

    Key Performance Indicators (KPIs):

    KPISep 30, 2025 (Latest)Mar 31, 2025
    Return on Equity (ROE)13.01%13.80%
    Return on Capital Employed (ROCE)12.35%13.76%
    PAT Margin7.71%3.64%
    Debt/Equity Ratio0.710.74

    Valuation Comparison:

    The Post-IPO Earnings Per Share (EPS) suggests a specific valuation multiple compared to the pre-issue scenario.

    Metric (x)Pre-IPO (Based on FY25 Earnings)Post-IPO (Annualized H1 FY26 Earnings)
    P/E Ratio23.5913.47
    EPS (₹)2.714.75
    Price to Book ValueN/A2.42

    Promoter Holding and Objectives of the Issue

    The promoters are undertaking a dilution to facilitate public participation and fund specific capital expenditure plans.

    Shareholding Structure Change:

    • Pre-Issue Promoter Holding: Approximately 92.35%
    • Post-Issue Promoter Holding: Expected to reduce to about 67.90% after the fresh issue.

    Use of Proceeds:

    The net proceeds from the offering are strategically earmarked to support business expansion initiatives:

    IPO ObjectEstimated Amount (₹ Crore)
    Capital Expenditure for Proposed Unit IV (Works, Interiors, Machinery)13.29
    General Corporate PurposesTo be determined

    SWOT Analysis for Kasturi Metal Composite

    A balanced perspective requires evaluating the internal strengths and weaknesses against external opportunities and threats facing the company.

    Strengths (Internal Advantages)

    • Established expertise in specialized steel fiber production.
    • A product portfolio essential for infrastructure and automotive industries.
    • Operational setup across multiple units geared towards quality output.

    Weaknesses (Internal Limitations)

    • Inconsistent bottom-line performance reported across historical periods.
    • Reliance on the completion and successful commissioning of the Proposed Unit IV for planned growth.

    Opportunities (External Potential)

    • Growing infrastructure spending in the domestic market drives demand for structural reinforcement materials.
    • Potential for increased export revenue given the specialized nature of the products.

    Threats (External Risks)

    • Fluctuations in raw material prices (steel/metals) can impact margins.
    • Intense competition within the industrial materials sector.
    • The perception that recent bumper earnings might indicate aggressive pre-IPO pricing.

    Intermediaries Steering the IPO Process

    The success and smooth execution of the IPO depend on capable intermediaries managing the public offering.

    Lead Manager & Registrar Details:

    • Book Running Lead Manager (BRLM): Hem Securities Ltd.
    • Registrar and Share Transfer Agent: Bigshare Services Pvt.Ltd. (Contact: +91-22-6263 8200, ipo@bigshareonline.com).
    • Market Maker: Hem Finlease Pvt.Ltd.

    Company Contact Information:

    For any direct queries regarding the company’s operations:

    Address:A30/3/1, MIDC, H. V. Nagar, Amravati, Maharashtra, 444605
    Phone:+0721-2520293
    Email:info@steelfiberindia.in

    Investment Perspective and Final Thoughts

    The Kasturi Metal Composite IPO offers capital infusion into a company with a specialized product range servicing essential industries. While the growth trajectory appears linked to domestic infrastructure development, potential investors should carefully weigh the current asking price against the reported historical financial consistency, particularly noting the recent strong performance leading up to the IPO.

    Market observers suggest that while the company has a solid foundation in its niche, the pricing seems ambitious given past profitability patterns. For those comfortable with the higher risk profile associated with SME listings and aiming for long-term holding based on sector growth, moderate allocation might be considered. However, a thorough review of the Red Herring Prospectus (RHP) remains the primary source for due diligence.

    Disclaimer: This analysis is based on the provided data and general market understanding. Investment decisions should always be based on personal risk assessment and comprehensive research.

  • Hannah Joseph Hospital

    Hannah Joseph Hospital IPO Analysis: A Deep Dive for Investors

    Navigating the Hannah Joseph Hospital SME IPO: An Essential Guide for PublicListing.in Readers

    In-depth analysis of the upcoming healthcare sector offering on the BSE SME platform.

    Introduction: Entering the Healthcare Market Through IPOs

    The Indian capital market is witnessing consistent activity, particularly in the SME segment, bringing promising companies closer to public investment. Hannah Joseph Hospital Limited, a growing multi-specialty healthcare provider based in Madurai, is entering the fray with its Initial Public Offering (IPO). For investors tracking sectoral growth, understanding the intricacies of this offering is crucial. This comprehensive overview, tailored for the readers of Publiclisting.in, dissects every facet of the Hannah Joseph Hospital IPO, from fundamental company health to specific subscription details.

    Understanding the Business: Hannah Joseph Hospital Ltd.

    Established in 2011, Hannah Joseph Hospital Limited operates as a dedicated healthcare provider in Madurai, Tamil Nadu. The facility is built on a 2-acre campus and boasts 150 beds across its specialties. The company positions itself as a provider of quality yet affordable healthcare.

    Core Medical Focus Areas:

    • Neurosciences: Covering Neurology and Neurosurgery.
    • Cardio Sciences: Specializing in Cardiology services.
    • Trauma Care: Including Orthopaedics and Oral & Maxillofacial Surgery.
    • Psychiatry: Offering specialized mental health services.

    Key Competitive Advantages:

    The company highlights several strengths that form its competitive edge:

    • Demonstrated excellence in specialized Neurosciences.
    • Investment in advanced Cardiac Sciences infrastructure.
    • Strong domain expertise in Orthopaedics and Traumatology.
    • A robust system for Emergency and Critical Care management.
    • A deep commitment to patient-centered care models.

    IPO Snapshot: Key Metrics and Timeline

    This is a Bookbuilding SME IPO aiming to raise capital primarily for expansion, specifically the establishment of a Radiation Oncology Centre.

    IPO Tentative Schedule

    Investors must note the crucial dates:

    MilestoneDate (Tentative)
    IPO Bidding OpensThursday, January 22, 2026
    IPO Bidding ClosesTuesday, January 27, 2026
    Basis of Allotment FinalizationWednesday, January 28, 2026
    Initiation of Refunds / Share Credit to DematThursday, January 29, 2026
    Listing Date on BSE SMEFriday, January 30, 2026

    Progress Bar Visualization of IPO Period:

    IPO Window: Jan 22 – Jan 27, 2026

    IPO Pricing and Allocation Details

    ParameterDetail
    Total Issue Size (Shares)60,00,000 Equity Shares (Agg. up to ₹42 Cr.)
    Issue TypeBookbuilding IPO (Fresh Issue)
    Price Band (Per Share)₹67 to ₹70
    Face Value (Per Share)₹10
    Listing VenueBSE SME

    Investor Categories and Lot Size Requirements

    Understanding how shares are divided among different investor pools is key to assessing subscription demand.

    Reservation Quota Breakdown:

    Investor CategoryShares OfferedPercentage (%)
    Qualified Institutional Buyers (QIB)28,46,00047.43%
    Non-Institutional Investors (NII/HNI)8,58,00014.30%
    Retail Individual Investors (RII)19,96,00033.27%
    Market Maker Reservation3,00,0005.00%
    Total Shares60,00,000100.00%

    Note on Anchor Bidding: A significant portion (17,06,000 shares, or 28.43%) was allocated to Anchor Investors ahead of the main subscription window.

    Minimum Investment Details (Lot Size)

    Investment in SME IPOs is determined by fixed lot sizes. Applicants must bid for one or more lots.

    Investor TypeApplication LotsShares AppliedMinimum Investment (at Upper Price)
    Retail (Minimum)2 Lots4,000₹2,80,000
    S-HNI (Minimum)3 Lots6,000₹4,20,000

    Anchor Investor Participation and Lock-in

    The company successfully raised ₹11.94 Crore from Anchor Investors on January 21, 2026. This pre-IPO fundraising gives an early indication of institutional confidence.

    • Shares Offered to Anchors: 17,06,000 shares.
    • Anchor Lock-in (50%): Shares locked for 30 days, ending Friday, February 27, 2026.
    • Anchor Lock-in (Remaining): Shares locked for 90 days, ending Tuesday, April 28, 2026.

    Company Financial Health Snapshot

    Reviewing the historical financial performance gives context to the current valuation. The figures below are presented in ₹ Crore (Restated Basis).

    MetricMar ’23Mar ’24Sep ’25 (Interim)
    Total Income54.9063.6377.90
    Profit After Tax (PAT)1.014.077.21
    EBITDA Margin16.38%17.98%
    Net Worth34.1543.93
    Total Borrowing42.9531.39

    Performance Indicators (KPIs)

    Key profitability and efficiency ratios provide further insights:

    KPIMar ’25Sep ’25
    Return on Equity (ROE)14.77%9.39%
    Return on Capital Employed (ROCE)17.03%10.41%
    PAT Margin9.30%12.03%
    Debt/Equity Ratio0.650.55

    Capital Structure and Valuation Perspective

    The IPO aims to adjust the capital structure and enhance post-money valuation.

    Shareholding Pattern

    CategoryPre-Issue HoldingPost-Issue Holding
    Promoters93.57%68.83%
    Public/Others6.43%31.17%

    The dilution in promoter holding is significant due to the fresh issue structure.

    Earnings and Valuation Metrics

    Comparing Pre-IPO and Post-IPO Earnings Per Share (EPS) helps gauge valuation.

    MetricPre-Issue EPS (₹)Post-Issue EPS (₹)P/E Ratio (x)
    Value4.324.5116.21 (Pre) / 15.52 (Post)

    The Price-to-Book Value ratio post-issue is indicated around 2.20 times.

    Objectives of the Fund Raise

    The primary utilization of the net proceeds is strategically focused on capacity expansion within specialized treatment modalities.

    Utilization Plan (Estimated Amount in ₹ Crore):

    • Funding Capital Expenditure for establishing Radiation Oncology Centre: ₹34.98 Cr.
    • General Corporate Purposes: Remaining amount.

    SWOT Analysis for Hannah Joseph Hospital IPO

    A balanced view requires an assessment of internal capabilities and external factors.

    Strengths (Internal Positives)

    • Strong focus on high-demand specialties like Neurosciences and Cardiology.
    • Established infrastructure in Madurai with 150 beds.
    • Consistent growth trajectory in top-line and bottom-line performance over recent periods.

    Weaknesses (Internal Limitations)

    • High promoter concentration pre-IPO, leading to significant dilution post-issue.
    • Reliance on specific geographic location (Madurai) for the majority of operations.
    • Historical debt levels requiring careful monitoring post-expansion.

    Opportunities (External Potential)

    • Strategic use of IPO funds for adding a Radiation Oncology Centre, diversifying services.
    • Growing demand for quality, specialized healthcare across Tier-II cities.
    • Potential for expansion into adjacent service areas or geographies.

    Threats (External Risks)

    • Intense competition from established national hospital chains.
    • Regulatory changes impacting healthcare pricing or operational standards.
    • Risk associated with the successful execution and operationalization of the new Oncology centre.

    Key Intermediaries for the Offering

    Smooth execution relies on the expertise of appointed managers and registrars.

    Book Running Lead Manager (BRLM):

    • Capital Square Advisors Pvt.Ltd.

    Registrar to the Issue (RTI):

    Investors needing assistance with allotment or refunds will coordinate with:

    • Bigshare Services Pvt.Ltd. (Contact: +91-22-6263 8200 or ipo@bigshareonline.com)

    Market Maker:

    • CapitalSquare Financial Services Private Limited ensures liquidity post-listing on the SME exchange.

    Guidance on Application Process

    Applying for SME IPOs is typically done via the UPI mandate system through registered brokers, or through the ASBA facility via net banking.

    How to Apply via a Broker (General Steps):

    • Log into your preferred broker’s trading portal/application.
    • Navigate to the IPO application section.
    • Select the ‘Hannah Joseph Hospital IPO’.
    • Enter the number of lots (minimum 2 lots for retail) and confirm the bid price (usually the cut-off price or the upper band).
    • Submit the application and authorize the UPI mandate via your UPI app promptly.

    It is advisable to apply for the maximum retail limit to maximize allotment chances within that quota, given the common oversubscription scenario in successful SME IPOs.

    Final Takeaways and Future Outlook

    The Hannah Joseph Hospital IPO presents an opportunity to invest in a specialized healthcare player focusing on high-acuity services in Southern India. The company demonstrates favorable growth in earnings, with the IPO proceeds earmarked clearly for tangible expansion in radiation oncology.

    Key Consideration: While financial metrics show positive momentum, investors should weigh the inherent risks associated with a relatively small-cap SME listing against the potential for substantial long-term growth in the healthcare sector. Reviewing the Grey Market Premium (GMP) closer to the opening date can offer sentiment cues, but fundamental analysis remains paramount for long-term holding decisions.

    Contact Information for the Company

    For direct queries regarding the company:

    • Address: 134, Lake View Road, K.K. Nagar, Madurai, Tamil Nadu, 625020
    • Email: cs@hannahjosephhospital.com

    Disclaimer: This analysis is based on publicly provided data for informational purposes only and should not be construed as investment advice. Always perform independent due diligence before making investment decisions.

    © 2026 Publiclisting.in. All rights reserved.

  • Shayona Engineering

    Shayona Engineering IPO: An In-Depth Analysis for Investors

    Decoding the Shayona Engineering SME IPO: A Deep Dive

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

    Understanding Shayona Engineering: Core Business & Strengths

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

    The company’s primary business activities include:

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

    Competitive Edge and Market Positioning

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

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

    Shayona Engineering IPO Key Subscription Details

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

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

    Lot Size and Application Requirements

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

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

    IPO Timeline: From Bidding to Listing

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

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

    IPO Reservation Analysis

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

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

    Company Financial Health and Valuation Snapshot

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

    Financial Performance Trend

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

    Key Performance Indicators (KPIs) and Valuation Ratios

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

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

    Promoter Holding Structure

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

    • Promoter Holding (Pre-Issue): 87.29%

    IPO Fund Utilization Strategy

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

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

    SWOT Analysis of Shayona Engineering

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

    Strengths (Internal Positive Factors)

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

    Weaknesses (Internal Negative Factors)

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

    Opportunities (External Positive Factors)

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

    Threats (External Negative Factors)

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

    Key Intermediaries for the IPO

    The seamless execution of the IPO relies on experienced partners:

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

    Final Considerations for Applicants

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

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

  • Digilogic Systems

    Digilogic Systems IPO Analysis: Everything Retail Investors Need to Know

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    Decoding the Digilogic Systems IPO: Strategic Entry into Defence Tech

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

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

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

    **What Digilogic Systems Does:**

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

    **Competitive Advantages Shaping the Future:**

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

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

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

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

    **IPO Breakup Details:**

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

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

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

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

    **Valuation and Investment Thresholds**

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

    **Price Band and Lot Size Details:**

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

    **Investor Category Allocation & Minimum Bids:**

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

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

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

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

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

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

    **Operational Efficiency Ratios (KPIs):**

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

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

    **Purpose of Proceeds & Promoter Landscape**

    **How IPO Funds Will Be Utilized:**

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

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

    **Ownership Structure:**

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

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

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

    **Critical Analysis: SWOT Perspective**

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

    **Strengths (Internal Positive Factors)**

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

    **Weaknesses (Internal Negative Factors)**

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

    **Opportunities (External Positive Factors)**

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

    **Threats (External Negative Factors)**

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

    **Key Intermediaries for the IPO Process**

    Reliable intermediaries ensure smooth execution and investor grievance redressal.

    **Registrar and Lead Manager:**

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

    **Investor Guidance: Applying for the IPO**

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

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

    **Essential Contact Information:**

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

    **Final Thoughts on the Digilogic Systems Offering**

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

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

  • KRM Ayurveda

    KRM Ayurveda IPO Analysis: A Comprehensive Look Before You Invest

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

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

    Understanding KRM Ayurveda Ltd.: The Business at a Glance

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

    Core Operations and Offerings:

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

    Competitive Advantages:

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

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

    KRM Ayurveda IPO Snapshot: Key Subscription Details

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

    Total Issue Size: ₹77.49 Crores

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

    Listing Platform: NSE SME

    IPO Timetable: Marking Your Calendar

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

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

    Price Band, Lot Size, and Investment Requirements

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

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

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

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

    IPO Allocation Structure (Net Offered to Public)

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

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

    Financial Health Check: Performance Indicators

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

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

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

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

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

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

    Valuation and Promoter Strength

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

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

    Promoter Structure and Holding:

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

    • Promoter Holding (Pre-Issue): 92.15%

    Strategic Allocation of IPO Proceeds

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

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

    SWOT Analysis for KRM Ayurveda

    A balanced view requires assessing inherent strengths and potential challenges.

    Strengths (Internal Positives)

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

    Weaknesses (Internal Negatives)

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

    Opportunities (External Positives)

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

    Threats (External Negatives)

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

    Key Intermediaries for the Issue

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

    Lead Manager:

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

    Registrar:

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

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

    Company Contact Information:

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

    Concluding Thoughts on the KRM Ayurveda SME IPO

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

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

    © 2026 Publiclisting.in. All rights reserved.

  • Aritas Vinyl

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

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

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

    Key IPO Timeline and Structure Summary

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

    IPO Open Date: Friday, January 16, 2026

    IPO Closing Date: Tuesday, January 20, 2026

    Tentative Listing Date: Friday, January 23, 2026

    For visualizing the timeline:

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

    Detailed IPO Subscription Specifications

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

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

    Price Band and Investment Mechanics

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

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

    Investor Category Reservation Breakdown

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

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

    Understanding Aritas Vinyl Limited: The Business Profile

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

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

    Competitive Edges in the Market

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

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

    Financial Health Snapshot: A Look at Performance

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

    Financial Performance Summary (Amounts in ₹ Crore)

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

    Key Performance Indicators (KPIs) Insight

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

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

    Valuation Metrics and Promoter Structure

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

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

    Founders and Management Strength

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

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

    Objectives of the Capital Raise

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

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

    Internal Assessment: SWOT Analysis of Aritas Vinyl

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

    Strengths

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

    Weaknesses

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

    Opportunities

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

    Threats

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

    Crucial Intermediaries for the IPO Process

    Smooth execution of the IPO relies on experienced market partners.

    Book Running Lead Manager (BRLM)

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

    Registrar to the Issue

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

    Contact Details for Registrar:

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

    Company Contact Information

    For direct corporate inquiries:

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

    Final Considerations for Potential Applicants

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

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

    © 2026 Publiclisting.in. All rights reserved.

  • Armour Security India

    Armour Security India IPO: Unpacking the Details for Investors

    Your Guide to the Latest SME Public Offering

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

    Understanding Armour Security India Ltd.

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

    Core Service Offerings

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

    Competitive Advantages in the Sector

    The company leverages several strengths to maintain its market standing:

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

    Key IPO Subscription Blueprint

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

    IPO Timeline at a Glance

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

    Financial Terms and Structure

    Price Discovery:

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

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

    Understanding the Application Lot Size

    Investors must adhere to specific lot sizes for bidding:

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

    Reservation Breakdown for Bidders

    The total shares offered are distributed across various investor categories:

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

    Financial Health Snapshot & Valuation Metrics

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

    Recent Financial Performance (Restated Figures in ₹ Crore)

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

    Valuation Ratios and Key Performance Indicators (KPIs)

    Key metrics based on recent performance data:

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

    Shareholding Pattern

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

    Objectives of the Public Offering

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

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

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

    A balanced view requires evaluating internal capabilities against external pressures.

    Internal Assessment

    Strengths (S)

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

    Weaknesses (W)

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

    External Factors

    Opportunities (O)

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

    Threats (T)

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

    Key Intermediaries for the Offering

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

    Lead Manager and Registrar

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

    Contact Information for Assistance

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

    How to Navigate the Application Process

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

    General Steps for Online IPO Application

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

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

    Concluding Thoughts on the SME Offering

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

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

  • INDO SMC

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

    Navigating the Details for Informed Investment Decisions

    Unpacking the INDO SMC Public Offering

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

    What Does INDO SMC Ltd. Do?

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

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

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

    Key IPO Structure and Timeline Insights

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

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

    Tracking the Timeline Progress:

    (Timeline visualization: Indicating progress toward listing)

    IPO Financial Structure and Pricing Metrics

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

    Investment Lot Size and Minimum Commitment

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

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

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

    IPO Allocation Structure

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

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

    Financial Health Check: Performance Indicators

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

    Restated Consolidated Financial Summary (Amounts in ₹ Crore)

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

    Valuation and Profitability Ratios (KPIs)

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

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

    Valuation Snapshot (P/E Ratio)

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

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

    Ownership Structure and IPO Proceeds Allocation

    Promoter Stake Dynamics

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

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

    Objective of Utilizing IPO Funds

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

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

    SWOT Analysis: Understanding the Landscape

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

    Strengths

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

    Weaknesses

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

    Opportunities

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

    Threats

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

    Intermediaries Facilitating the Issue

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

    Registrar and Lead Manager

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

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

    Market Makers Appointed

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

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

    Frequently Asked Questions About INDO SMC IPO

    What is the minimum application size for INDO SMC IPO?

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

    How can retail investors apply for this SME IPO?

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

    When is the expected listing date?

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

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

    © 2026 Publiclisting.in. All rights reserved.

  • Narmadesh Brass Industries

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

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

    Introduction: Brass Industry Spotlight

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

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

    Key IPO Snapshot and Timeline

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

    IPO Schedule At A Glance (Tentative Dates)

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

    Progress Bar: IPO Subscription Status (Visual Placeholder)

    (Subscription status will update dynamically once bidding commences.)

    IPO Offering Structure Details

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

    Breakdown of Shares Offered

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

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

    Investment Lot Size Requirements

    Investment in the IPO must adhere to specific lot sizes:

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

    Business Overview: Manufacturing Prowess in Jamnagar

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

    Core Product Portfolio and Capabilities

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

    Financial Health Check (Restated Figures in ₹ Crore)

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

    Select Financial Performance Indicators

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

    Efficiency Ratios (KPIs)

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

    Ownership Structure and Capital Deployment

    Promoter Holding Dynamics

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

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

    Objectives of the Issue Proceeds

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

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

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

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

    Competitive Advantages (Strengths)

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

    Areas for Scrutiny (Weaknesses & Threats)

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

    Future Prospects (Opportunities)

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

    Intermediaries Managing the Issue

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

    Registrar and Lead Manager Details

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

    Company Contact Information

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

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

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

    © 2026 Publiclisting.in. All rights reserved.