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Shri Techtex IPO is a book built issue of Rs 45.14 crores. The issue is entirely a fresh issue of 74 lakh shares.
Shri Techtex IPO bidding started from July 26, 2023 and ended on July 28, 2023. The allotment for Shri Techtex IPO was finalized on Wednesday, August 2, 2023. The shares got listed on NSE SME on August 4, 2023.
Shri Techtex IPO price band is set at ₹54 to ₹61 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹122,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹244,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Shri Techtex IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Shri Techtex IPO is Sunflower Broking.
Refer to Shri Techtex IPO RHP for detailed information.
| IPO Date | July 26, 2023 to July 28, 2023 |
| Listing Date | August 4, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹54 to ₹61 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Fresh Issue | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,550,000 |
| Share holding post issue | 24,950,000 |
| Market Maker portion | 372,000 shares Sunflower Broking |
Shri Techtex IPO offers 7,400,000 shares. 1,410,000 (19.05%) to QIB, 1,056,000 (14.27%) to NII, 2,462,000 (33.27%) to RII 2,100,000 (28.38%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 2,100,000 (28.38%) |
| Market Maker Shares Offered | 372,000 (5.03%) |
| QIB Shares Offered | 1,410,000 (19.05%) |
| NII (HNI) Shares Offered | 1,056,000 (14.27%) |
| Retail Shares Offered | 2,462,000 (33.27%) |
| Total Shares Offered | 7,400,000 (100%) |
Shri Techtex IPO raises Rs 12.81 crore from anchor investors. Shri Techtex IPO Anchor bid date is July 25, 2023. Shri Techtex IPO Anchor Investors list
| Bid Date | July 25, 2023 |
| Shares Offered | 2,100,000 |
| Anchor Portion Size (In Cr.) | 12.81 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 1, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 31, 2023 |
Shri Techtex IPO opens on July 26, 2023, and closes on July 28, 2023.
| IPO Open Date | Wednesday, July 26, 2023 |
| IPO Close Date | Friday, July 28, 2023 |
| Basis of Allotment | Wednesday, August 2, 2023 |
| Initiation of Refunds | Thursday, August 3, 2023 |
| Credit of Shares to Demat | Friday, August 4, 2023 |
| Listing Date | Friday, August 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 28, 2023 |
Investors can bid for a minimum of 2000 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 | 2000 | ₹122,000 |
| Retail (Max) | 1 | 2000 | ₹122,000 |
| HNI (Min) | 2 | 4,000 | ₹244,000 |
| Lot Size Calculator | |||
Mr. Hanskumar Ramakant Agarwal and Mrs. Shradha Hanskumar Agarwal are the company promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 70.34% |
Incorporated in 2011, Shri Techtex Limited manufactures Polypropylene (PP) Non-Woven Fabric in a variety of sizes and densities.
The company manufactures Polypropylene (PP) Non-Woven Fabric, which is used for ecological applications, especially in fields and industries where disposable or single-use products are necessary, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, Mattress & furniture covering, ecological packaging, industrial and consumer goods.
Since FY 2011, as a Partnership firm, Shri Techtex was engaged in the business of industrial trading activity in Polymers, Chemicals, Packaging Materials and other allied products. Upon conversion of the Partnership Firm to a company, Shri Techtex continued manufacturing on a job-work basis. W.e.f. April 01, 2021, as a result of demerger, the said business of contract manufacturing was transferred to the resultant company Aurum Fabritech Private Limited (Aurum Fabritech Private Limited was converted to LLP w.e.f. February 02, 2022). After the demerger, to date, the company is engaged in the business of manufacturing Polypropylene (PP) Non-Woven Fabric.
Shri Techtex's manufacturing site is located at Simaj of Dholka Taluka in the Ahmedabad District of Gujarat with a manufacturing capacity of 3600 MT PP non-woven fabric per annum. The manufacturing facility is spread across 41548 sq. meters.
The company's client base comes from Gujarat, Tamil Nadu, and West Bengal as well as countries like the USA, Taiwan, Canada, Denmark, and China.
Shri Techtex is planning an expansion by adding new products like PP Tufted Fabric, commonly known as Artificial Grass and PP Multifilament Yarns. The company will purchase new specialized machinery for manufacturing the new products, and is expecting to commence production by October 2023. The machinery will have an installed capacity to manufacture 1200 tons per annum for the PP Multifilament and 30 Lakhs Sq Meters per annum for PP Tufted Fabric (Artificial Grass).
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 1,766.65 | 1,625.73 | 447.23 | 808.49 | 588.04 | 488.05 |
| 31-Mar-21 | 4,652.15 | 4,021.58 | 1,265.68 | 2,075.69 | 1,853.72 | 1,498.66 |
| 31-Mar-22 | 5,282.41 | 5,182.15 | 826.56 | 2,099.47 | 1,875.99 | 2,451.57 |
| 31-Mar-23 | 7,386.45 | 5,807.58 | 910.63 | 2,981.50 | 1,256.61 | 3,188.98 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Shri Techtex IPO is Rs 152.2 Cr.
| KPI | Values |
|---|---|
| ROE | 35.84% |
| ROCE | 20.07% |
| Debt/Equity | 1.07 |
| RoNW | 30.54% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.19 | |
| P/E (x) | 16.71 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company operates in a highly competitive segment with many players around. Its FY21 performance raised eyebrows and after that, though the top line marked growth, its bottom line expressed declining margins. Hence, the sustainability of margins in the future is a significant concern. Though the issue appears reasonably priced, well-informed cash surplus investors may park funds with a long-term perspective. Read detail review...
The Shri Techtex IPO is subscribed 148.44 times on July 28, 2023 7:29:00 PM. The public issue subscribed 156.37 times in the retail category, 58.03 times in the QIB category, and 250.65 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 58.03 |
| NII | 250.65 |
| Retail | 156.37 |
| Total | 148.44 |
Total Application : 192,493 (156.37 times)
| Listing Date | August 4, 2023 |
| BSE Script Code | |
| NSE Symbol | SHRITECH |
| ISIN | INE0OMF01015 |
| Final Issue Price | ₹61 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹61.00 |
| ₹81.15 |
| ₹77.20 |
| ₹85.20 |
| ₹85.20 |
Shri Techtex Limited
Harmony, 2nd Floor,15/A, Shree Vidhyanagar Co.Op.
Hsg. Soc. Ltd. Opp. Nabard,
Nr. Usmanpura Garden Ahmedabad - 380014
Phone: +91 78741 32777
Email: cs@shritechtex.co.in
Website: https://shritechtex.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: shritechtex.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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Shri Techtex IPO is a SME IPO of 7,400,000 equity shares of the face value of ₹10 aggregating up to ₹45.14 Crores. The issue is priced at ₹54 to ₹61 per share. The minimum order quantity is 2000 Shares.
The IPO opens on July 26, 2023, and closes on July 28, 2023.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Shri Techtex IPO using UPI as a payment gateway. Zerodha customers can apply in Shri Techtex IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shri Techtex IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shri Techtex IPO opens on July 26, 2023 and closes on July 28, 2023.
Shri Techtex IPO lot size is 2000 Shares, and the minimum amount required is ₹122,000.
You can apply in Shri Techtex 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 Shri Techtex IPO will be done on Wednesday, August 2, 2023, and the allotted shares will be credited to your demat account by Friday, August 4, 2023. Check the Shri Techtex IPO allotment status.
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I think there is a correction needed in SME performance page.
For Shri Techtex IPO, listing price is shown as 61 similar to ipo price which is not correct.