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Aartech Solonics IPO is a fixed price issue of Rs 7.21 crores.
Aartech Solonics IPO bidding started from March 12, 2019 and ended on March 18, 2019. The allotment for Aartech Solonics IPO was finalized on Friday, March 22, 2019. The shares got listed on BSE SME on March 27, 2019.
Aartech Solonics IPO price is ₹34 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹136,000.
Swastika Investmart Ltd is the book running lead manager of the Aartech Solonics IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Aartech Solonics IPO DRHP for detailed information.
| IPO Date | March 12, 2019 to March 18, 2019 |
| Listing Date | March 27, 2019 |
| Face Value | ₹10 per share |
| Price | ₹34 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 2,120,000 shares (aggregating up to ₹7.21 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 4,940,094 |
| Share holding post issue | 7,060,094 |
| Market Maker portion | 112,000 shares |
Aartech Solonics IPO offers 2,120,000 shares. 1,004,000 (47.36%) to NII, 1,004,000 (47.36%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 112,000 (5.28%) |
| Other Shares Offered | 1,004,000 (47.36%) |
| Retail Shares Offered | 1,004,000 (47.36%) |
| Total Shares Offered | 2,120,000 (100%) |
Aartech Solonics IPO opens on March 12, 2019, and closes on March 18, 2019.
| IPO Open Date | Tuesday, March 12, 2019 |
| IPO Close Date | Monday, March 18, 2019 |
| Basis of Allotment | Friday, March 22, 2019 |
| Initiation of Refunds | Monday, March 25, 2019 |
| Credit of Shares to Demat | Monday, March 25, 2019 |
| Listing Date | Wednesday, March 27, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 18, 2019 |
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹136,000 |
| Retail (Max) | 1 | 4000 | ₹136,000 |
| Lot Size Calculator | |||
The promoters of the company are Anil Anant Raje and Chhaya Raje.
| Share Holding Pre Issue | 74.85% |
| Share Holding Post Issue | 52.38% |
Incorporated in 1982, Gwalior, Madhya Pradesh based Aartech Solonics Limited is a system solution oriented R&D enterprise in the field of specialized and selected energy appliances. It is involved in the manufacturing of electricity distribution & control apparatus [electrical apparatus for switching or protecting electrical circuits (e.g. switches, fuses, voltage limiters, surge suppressors, junction boxes etc.) for a voltage exceeding 1000 volts; similar apparatus (including relays, sockets etc.) for a voltage not exceeding 1000 volts; boards, panels, consoles, cabinets and other bases equipped with two or more of the above apparatus for electricity control or distribution of electricity including power capacitors.
Some of the company's popular products and services include-
1. BTS - 2000.
2. Kranking Ultra Capacitors.
3. Control Rely Panels.
4. Load Checkers.
The company also provide solutions and services for products of other companies like-
1. GSUN Innovations
2. Bestcase Enclosures
The company's client base includes businesses from various industries like Defense, Railways, Power Generation, Heavy Earth Moving Equipments and Oil & Gas etc.
Aartech's Innovations Lab is a 1000 sqft facility with all modern amenities required for laboratory operations. In November 2013, it was recognized by the Department of Science and Technology for its contribution in the field for R&D activities.
The company has 55 full-time employees excluding 10 contract employees.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 30-Sep-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 1,941.52 | 1,938.08 | 1,945.78 | 1,872.11 | 1,922.00 | 1,804.34 |
| Total Revenue | 416.69 | 1,208.50 | 1,342.05 | 1,025.84 | 994.35 | 953.79 |
| Profit After Tax | 60.09 | 117.58 | 30.09 | 22.81 | 112.62 | (70.41) |
The objects of the Issue are:
1. Investment in the wholly owned subsidiary company - "M/S AIC Aartech Solonics Private Limited"- Rs 200 lakhs
2. Investment in the wholly owned subsidiary company - " M/S Faradigm Ultracapacitors Private Limited";- Rs 250 lakhs
3. For General Corporate Expenses including Capital Expenditure & Research and Development Expenses- Rs 120 lakhs
4. Working Capital Requirement;- Rs 100 lakhs
5. Meeting Public Issue Expenses- Rs 50 lakhs
[Dilip Davda]
On the basis of consolidated earnings, issue is priced aggressively and on the basis of standalone basis it appears highly priced. Sudden jump in bottom lines for last one and half year before the IPO raises concern. There is no harm in giving this issue a miss.
Read detail review...The Aartech Solonics IPO is subscribed 2.00 times on March 18, 2019 6:50:02 PM. The public issue subscribed 1.64 times in the retail category, times in the QIB category, and 2.35 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.35 |
| Retail | 1.64 |
| Total | 2.00 |
| Listing Date | March 27, 2019 |
| BSE Script Code | 542580 |
| NSE Symbol | AARTECH |
| ISIN | INE01C001018 |
| Final Issue Price | ₹34 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹34.00 |
| ₹33.95 |
| ₹33.95 |
| ₹34.90 |
| ₹34.60 |
Aartech Solonics Limited
E-2/57,
Ashirvad Arera Colony
Bhopal MP- 462016
Phone: +91 - 755 -2463593
Email: compliance@aartechsolonics.com
Website: http://www.aartechsolonics.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Aartech Solonics IPO is a SME IPO of 2,120,000 equity shares of the face value of ₹10 aggregating up to ₹7.21 Crores. The issue is priced at ₹34 per share. The minimum order quantity is 4000 Shares.
The IPO opens on March 12, 2019, and closes on March 18, 2019.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
The Aartech Solonics IPO opens on March 12, 2019 and closes on March 18, 2019.
Aartech Solonics IPO lot size is 4000 Shares, and the minimum amount required is ₹136,000.
You can apply in Aartech Solonics IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Aartech Solonics IPO will be done on Friday, March 22, 2019, and the allotted shares will be credited to your demat account by Monday, March 25, 2019. Check the Aartech Solonics IPO allotment status.
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