Bookbuilding IPO | ₹22 Cr | Listed at NSE SME | Tue, Mar 26, 2024 - Thu, Mar 28, 2024
Aspire & Innovative IPO is a book build issue of ₹21.97 crores. The issue is entirely a fresh issue of 0.41 crore shares of ₹21.97 crore.
Aspire & Innovative IPO bidding started from Mar 26, 2024 and ended on Mar 28, 2024. The allotment for Aspire & Innovative IPO was finalized on Apr 1, 2024. The shares got listed on NSE SME on Apr 3, 2024.
Aspire & Innovative IPO price band is set at ₹54 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,08,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,16,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Aspire & Innovative IPO RHP for detailed Information.
IPO Open
Tue, Mar 26, 2024
IPO Close
Thu, Mar 28, 2024
Issue Price
₹54 per share
Market Cap (Pre-IPO)
₹81.96 Cr
| IPO Date | 26 to 28 Mar, 2024 |
| Listed on | Wed, Apr 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 |
| Issue Price | ₹54 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 40,68,000 shares (agg. up to ₹22 Cr) |
| Reserved for Market Maker | 2,04,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 38,64,000 shares (agg. up to ₹21 Cr) |
| Net Offered to Public | 38,64,000 shares (agg. up to ₹21 Cr) |
| Share Holding Pre Issue | 1,11,10,000 shares |
| Share Holding Post Issue | 1,51,78,000 shares |
| NSE Symbol | ASPIRE |
| ISIN | INE0S7801010 |
Aspire & Innovative IPO comprises a total issue size of 40,68,000 shares. The net offer to the public is 38,64,000 shares, after excluding 2,04,000 shares allotted on a firm basis. Of the Net offer 19,30,000 (49.95%) are allocated to QIB, 5,80,000 (15.01%) allocated to NII 13,54,000 (35.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 19,30,000 | 49.95% | 47.44% |
| − Anchor Investor Shares Offered | 11,56,000 | 28.42% | |
| − QIB (Ex. Anchor) Shares Offered | 7,74,000 | 19.03% | |
| NII (HNI) Shares Offered | 5,80,000 | 15.01% | 14.26% |
| Retail Shares Offered | 13,54,000 | 35.04% | 33.28% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,04,000 | 5.01% | |
| Total Shares Offered | 40,68,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹2,16,000 |
Aspire & Innovative IPO raises ₹6.24 crore from anchor investors. Aspire & Innovative IPO Anchor bid date is March 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 22, 2024 |
| Shares Offered | 11,56,000 |
| Anchor Portion (₹ Cr.) | 6.24 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, May 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jun 30, 2024 |
Founded in 2017, Aspire & Innovative Advertising Limited deals in consumer durables, including kitchen appliances, home appliances, white goods, mobile phones and accessories, solar products, and more. They deal in products from renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells, and many others.
The company's asset-light model incurs expenses for facilitation fees and commission paid to intermediaries. They provide services such as marketing, field staff interaction, demand collation, and financial services to customers in rural and semi-urban communities.
The company offers 50+ products, including cookware, electronics, and appliances such as pressure cookers, induction cooktops, mixer-grinders, dinner sets, sewing machines, fans, irons, bulbs, heaters, phones, TVs, refrigerators, washing machines, headphones, and solar lanterns.
The company has commercial arrangements with 15+ intermediaries and operates 19 warehouses in 16 states.
As of November 30, 2023, the company has 49 full-time employees, including managers.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 81.36 | 62.57 | 53.28 | 34.92 |
| Total Income | 177.10 | 346.20 | 255.58 | 108.33 |
| Profit After Tax | 3.93 | 5.31 | 4.37 | 2.28 |
| NET Worth | 19.45 | 15.51 | 10.20 | 5.21 |
| Reserves and Surplus | 8.34 | 14.40 | 9.09 | 5.20 |
| Total Borrowing | 11.61 | 8.82 | 1.11 | 0.56 |
| 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 meet Working Capital requirements | 9.00 |
| 2 | To finance the cost of establishing new warehouses | 4.95 |
| 3 | General Corporate Purpose | 5.47 |
| KPI | Sep 30, 2023 |
|---|---|
| ROE | 22.50% |
| ROCE | 18.59% |
| Debt/Equity | 0.60 |
| RoNW | 20.22% |
| PAT Margin | 2.23% |
| Price to Book Value | 3.09 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.78 | 5.18 |
| P/E (x) | 11.3 | 10.42 |
| Promoter Holding | 98.84% | 72.35% |
| Market Cap | ₹81.96 Cr. |
The Aspire & Innovative IPO is subscribed 15.17 times on March 28, 2024 7:30:29 PM (Day 3). The public issue subscribed 16.39 times in the retail category, 5.21 times in the QIB category, and 25.6 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 5.21 | 7,74,000 | 40,36,000 |
| NII* | 25.6 | 5,80,000 | 1,48,50,000 |
| Retail | 16.39 | 13,54,000 | 2,21,98,000 |
| Total | 15.17 | 27,08,000 | 4,10,84,000 |
Total Application : 11,099
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger fees | 0.30 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.05 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.12 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.14 |
| 7 | Others, if any (Commission/processing fee for SCSBs, Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, depositories, secretarial, advisors, consultancy, peer review auditors, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 1.91 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹54.00 |
| Open | ₹56.50 |
| Low | ₹56.25 |
| High | ₹59.30 |
| Last Trade | ₹59.30 |
Lead Manager Reports
Aspire & Innovative IPO is a SME IPO of 40,68,000 equity shares of the face value of ₹10 aggregating up to ₹22 Crores. The issue is priced at ₹54 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Mar 26, 2024, and closes on Thu, Mar 28, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Aspire & Innovative IPO using UPI as a payment gateway. Zerodha customers can apply in Aspire & Innovative IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Aspire & Innovative IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Aspire & Innovative IPO opens on Tue, Mar 26, 2024 and closes on Thu, Mar 28, 2024.
Aspire & Innovative IPO lot size is 2000, and the minimum amount required for application is ₹1,08,000.
You can apply in Aspire & Innovative 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 Aspire & Innovative IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tue, Apr 2, 2024. Check the Aspire & Innovative IPO allotment status.
The Aspire & Innovative IPO listing date is on Wed, Apr 3, 2024.
