Bookbuilding IPO | ₹78 Cr | Listed at NSE SME | Fri, Dec 8, 2023 - Tue, Dec 12, 2023
Accent Microcell IPO is a book build issue of ₹78.40 crores. The issue is entirely a fresh issue of 0.56 crore shares of ₹78.40 crore.
Accent Microcell IPO bidding started from Dec 8, 2023 and ended on Dec 12, 2023. The allotment for Accent Microcell IPO was finalized on Dec 13, 2023. The shares got listed on NSE SME on Dec 15, 2023.
Accent Microcell IPO price band is set at ₹140 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,40,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,80,000.
Corporate Capitalventures Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Prabhat Financial Services Ltd..
Refer to Accent Microcell IPO RHP for detailed Information.
IPO Open
Fri, Dec 8, 2023
IPO Close
Tue, Dec 12, 2023
Issue Price
₹140 per share
Market Cap (Pre-IPO)
₹294.60 Cr
| IPO Date | 8 to 12 Dec, 2023 |
| Listed on | Fri, Dec 15, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹133 to ₹140 |
| Issue Price | ₹140 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 56,00,000 shares (agg. up to ₹78 Cr) |
| Reserved for Market Maker | 2,80,000 shares Prabhat Financial Services Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 53,20,000 shares (agg. up to ₹74 Cr) |
| Net Offered to Public | 53,20,000 shares (agg. up to ₹74 Cr) |
| Share Holding Pre Issue | 1,54,43,000 shares |
| Share Holding Post Issue | 2,10,43,000 shares |
| NSE Symbol | ACCENTMIC |
| ISIN | INE0Q5D01013 |
Accent Microcell IPO comprises a total issue size of 56,00,000 shares. The net offer to the public is 53,20,000 shares, after excluding 2,80,000 shares allotted on a firm basis. Of the Net offer 26,60,000 (50.00%) are allocated to QIB, 7,98,000 (15.00%) allocated to NII 18,62,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 26,60,000 | 50.00% | 47.50% |
| − Anchor Investor Shares Offered | 15,96,000 | 28.50% | |
| − QIB (Ex. Anchor) Shares Offered | 10,64,000 | 19.00% | |
| NII (HNI) Shares Offered | 7,98,000 | 15.00% | 14.25% |
| Retail Shares Offered | 18,62,000 | 35.00% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,80,000 | 5.00% | |
| Total Shares Offered | 56,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,40,000 |
| Retail (Max) | 1 | 1,000 | ₹1,40,000 |
| HNI (Min) | 2 | 2,000 | ₹2,80,000 |
Accent Microcell IPO raises ₹22.34 crore from anchor investors. Accent Microcell IPO Anchor bid date is December 7, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Dec 7, 2023 |
| Shares Offered | 15,96,000 |
| Anchor Portion (₹ Cr.) | 22.34 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jan 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Mar 12, 2024 |
Accent Microcell Limited, founded in 2012, manufactures cellulose-based excipients for pharmaceutical, nutritional supplements, food, cosmetics, and other industries.
The company manufactures over 22 grades of MCC with particle sizes ranging from 20 to 180 microns, marketed under the brand names: Accel, Acrocell, Maccel, and Vincel.
The products can be divided into two categories: Spray-dried products and Spin-flash-dried products. The company's product portfolio includes:
Under the Accel/Vincel brand names: Microcrystalline Cellulose (MCC) - Spray Dried/ Spin Flash Dried, Microcrystalline Cellulose Spheres (MCC Spheres), Silicified Microcrystalline Cellulose (SMCC), Powdered Cellulose (PC), Microcrystalline Cellulose with Carboxy Methyl Cellulose (Co-Processed)
Accent Microcell has two manufacturing facilities at Pirana Road, Ahmedabad, and Dahej, SEZ (Bharuch) with a capacity of 8,000 metric tonnes. The Pirana facility (Unit I) is geared towards manufacturing MCC, SMCC, PC, and MCC with CMC, while the Dahej, SEZ facility (Unit II) is geared towards manufacturing MCC, MCC sphere, SMCC, and MCC with CMC for export to overseas customers.
The company's customers come from 45 different countries, including the US, Canada, Germany, the UK, Japan, China, Australia, Korea, the Netherlands, Turkey, Vietnam, Italy, Indonesia, Poland, Egypt, France, Thailand, New Zealand, Brazil, Russia, Mexico, Chile, Zimbabwe, Denmark, Greece and many others.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 122.15 | 114.10 | 94.61 | 80.70 |
| Total Income | 59.93 | 206.97 | 167.54 | 134.82 |
| Profit After Tax | 7.06 | 13.01 | 5.89 | 4.80 |
| NET Worth | 51.25 | 44.20 | 32.09 | 26.63 |
| Reserves and Surplus | 38.31 | 31.26 | 19.19 | 22.33 |
| Total Borrowing | 21.06 | 22.78 | 24.10 | 30.64 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Set up plant at Navagam Kheda for manufacturing Croscarmellose Sodium (“CCS”), Sodium Starch Glycolate and Carboxymethylcellulose (CMC); and | 54.39 |
| 2 | General Corporate Expenses | 17.90 |
| KPI | |
|---|---|
| ROE | 34.11% |
| ROCE | 26.46% |
| Debt/Equity | 0.52 |
| RoNW | 29.44% |
| PAT Margin | 6.37% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.06 | |
| P/E (x) | 13.92 | 10.44 |
| Promoter Holding | 73.13% | 53.67% |
| Market Cap | ₹294.60 Cr. |
The Accent Microcell IPO is subscribed 362.41 times on December 12, 2023 7:29:00 PM (Day 3). The public issue subscribed 409.95 times in the retail category, 118.48 times in the QIB category, and 576.7 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 118.48 | 10,64,000 | 12,60,62,000 |
| NII* | 576.7 | 7,98,000 | 46,02,07,000 |
| Retail | 409.95 | 18,62,000 | 76,33,32,000 |
| Total | 362.41 | 37,24,000 | 1,34,96,01,000 |
Total Application : 7,63,332
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Issue Management | 4.40 |
| 2 | Selling and Distribution Fees and Underwriting Commission | 8.50 |
| 3 | Advertising and marketing expenses | 5.84 |
| 4 | Fees payable to Registrar to the Issue | 0.65 |
| 5 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | 0.10 |
| 6 | Processing fees to the SCSBs and to the Sponsor Banks for ASBA Forms procured by Registered Brokers, RTAs or CDPs | 0.05 |
| 7 | Printing and distribution of issue stationery | 0.25 |
| 8 | Others: a. Listing fees | 0.03 |
| 9 | Others: b. NSE Processing | 0.03 |
| 10 | Others: c. Book Building software fees | 0.35 |
| 11 | Others: d. Other regulatory expenses | 0.13 |
| 12 | Others: e. Fees payable to legal counsel | 0.10 |
| 13 | f. Auditor fees for Restatement and Auditors Certificate | 2.01 |
| 14 | g. Travel, Lodging & dinning expenses | 0.65 |
| 15 | h. Miscellaneous | 37.95 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹140.00 |
| Open | ₹300.00 |
| Low | ₹285.00 |
| High | ₹315.00 |
| Last Trade | ₹315.00 |
Lead Manager Reports
Accent Microcell IPO is a SME IPO of 56,00,000 equity shares of the face value of ₹10 aggregating up to ₹78 Crores. The issue is priced at ₹140 per share. The minimum order quantity is 1000.
The IPO opens on Fri, Dec 8, 2023, and closes on Tue, Dec 12, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Accent Microcell IPO using UPI as a payment gateway. Zerodha customers can apply in Accent Microcell IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Accent Microcell IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Accent Microcell IPO opens on Fri, Dec 8, 2023 and closes on Tue, Dec 12, 2023.
Accent Microcell IPO lot size is 1000, and the minimum amount required for application is ₹1,40,000.
You can apply in Accent Microcell IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Accent Microcell IPO will be done on Wednesday, December 13, 2023, and the allotted shares will be credited to your demat account by Thu, Dec 14, 2023. Check the Accent Microcell IPO allotment status.
The Accent Microcell IPO listing date is on Fri, Dec 15, 2023.
