Bookbuilding IPO | ₹43 Cr | Listed at NSE SME | Tue, Sep 12, 2023 - Thu, Sep 14, 2023
Chavda Infra IPO is a book build issue of ₹43.26 crores. The issue is entirely a fresh issue of 0.67 crore shares of ₹43.26 crore.
Chavda Infra IPO bidding started from Sep 12, 2023 and ended on Sep 14, 2023. The allotment for Chavda Infra IPO was finalized on Sep 20, 2023. The shares got listed on NSE SME on Sep 25, 2023.
Chavda Infra IPO price band is set at ₹65 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,30,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,60,000.
Beeline Capital Advisors 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 Spread X Securities Pvt.Ltd..
Refer to Chavda Infra IPO RHP for detailed Information.
IPO Open
Tue, Sep 12, 2023
IPO Close
Thu, Sep 14, 2023
Issue Price
₹65 per share
Market Cap (Pre-IPO)
₹160.26 Cr
| IPO Date | 12 to 14 Sep, 2023 |
| Listed on | Mon, Sep 25, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹60 to ₹65 |
| Issue Price | ₹65 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 66,56,000 shares (agg. up to ₹43 Cr) |
| Reserved for Market Maker | 3,36,000 shares Spread X Securities Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 63,20,000 shares (agg. up to ₹41 Cr) |
| Net Offered to Public | 63,20,000 shares (agg. up to ₹41 Cr) |
| Share Holding Pre Issue | 1,80,00,000 shares |
| Share Holding Post Issue | 2,46,56,000 shares |
| NSE Symbol | CHAVDA |
| ISIN | INE0PT101017 |
Chavda Infra IPO comprises a total issue size of 66,56,000 shares. The net offer to the public is 63,20,000 shares, after excluding 3,36,000 shares allotted on a firm basis. Of the Net offer 31,60,000 (50.00%) are allocated to QIB, 9,48,000 (15.00%) allocated to NII 22,12,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 31,60,000 | 50.00% | 47.48% |
| − Anchor Investor Shares Offered | 18,96,000 | 28.49% | |
| − QIB (Ex. Anchor) Shares Offered | 12,64,000 | 18.99% | |
| NII (HNI) Shares Offered | 9,48,000 | 15.00% | 14.24% |
| Retail Shares Offered | 22,12,000 | 35.00% | 33.23% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,36,000 | 5.05% | |
| Total Shares Offered | 66,56,000 | 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 | ₹1,30,000 |
| Retail (Max) | 1 | 2,000 | ₹1,30,000 |
| HNI (Min) | 2 | 4,000 | ₹2,60,000 |
Chavda Infra IPO raises ₹12.32 crore from anchor investors. Chavda Infra IPO Anchor bid date is September 11, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 11, 2023 |
| Shares Offered | 18,96,000 |
| Anchor Portion (₹ Cr.) | 12.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 20, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 19, 2023 |
Incorporated in 2012, Chavda Infra Limited provides construction and allied services across residential, commercial, and institutional projects in Gujarat.
Chavda Infra is a part of the Chavda group, which consists of 3 businesses, Chavda Infra, Chavda RMC, and Chavda Developers, providing services in Ahmedabad, Gandhinagar, and Rajkot. The company has delivered more than 100 completed projects worth ₹ 67,099.45 Lakhs in Residential Properties, Commercial Properties, Institutional Infrastructures, etc. The company provides services ranging from planning and design to construction and post-construction activities.
Chavda Infra has three business verticals: Contracting Services, Development Services, and Commercial Renting Services.
The company has constructed some of the well-known buildings in Ahmedabad namely Straft Laxuria, Shivalik Parkview, and Shivalik Sharda Harmony, being residential projects. AAA Corporate House, Sadbhav House, Solitaire Sky, Sandesh Press, Suyash Solitaire, and Solitaire Connect, being commercial projects. AIS Toddler's Den, Nirma University (old Building), and Zydus School & Excellence, being institutional projects. As of May 31, 2023, the company has 26 ongoing projects worth approximately ₹ 60,139 lakhs. Out of 26 ongoing projects 4 are commercial Projects, 4 are institutional projects and 18 are residential projects.
Chavda Infra is ISO 9001:2015 certified for quality management systems by BCQ Assessment Private Limited. The quality certification is for the construction of commercial, residential, and institutional buildings.
The company has more than 250 employees and recorded revenue from operations of Rs. 16,188.57 Lacs for the year ended on March 31, 2023.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 154.24 | 108.81 | 86.68 |
| Total Income | 162.03 | 109.88 | 91.31 |
| Profit After Tax | 12.05 | 5.21 | 4.44 |
| NET Worth | 30.40 | 18.36 | 13.14 |
| Reserves and Surplus | 12.40 | 16.86 | 11.64 |
| Total Borrowing | 53.29 | 49.93 | 33.30 |
| 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 | 27.00 |
| 2 | General corporate purposes | 10.80 |
| KPI | |
|---|---|
| ROE | 49.41% |
| ROCE | 43.62% |
| Debt/Equity | 1.75 |
| RoNW | 39.62% |
| PAT Margin | 7.44% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.69 | |
| P/E (x) | 9.72 | 13.29 |
| Promoter Holding | 100.00% | 73% |
| Market Cap | ₹160.26 Cr. |
The Chavda Infra IPO is subscribed 180.06 times on September 14, 2023 7:29:00 PM (Day 3). The public issue subscribed 202.07 times in the retail category, 95.1 times in the QIB category, and 241.96 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 95.1 | 12,64,000 | 12,02,04,000 |
| NII* | 241.96 | 9,48,000 | 22,93,80,000 |
| Retail | 202.07 | 22,12,000 | 44,69,84,000 |
| Total | 180.06 | 44,24,000 | 79,65,68,000 |
Total Application : 2,23,492
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including Underwriting Commission | 2.85 |
| 2 | Fees Payable to the Advisor to Issue | 0.22 |
| 3 | Fees Payable to Registrar to the Issue | 0.01 |
| 4 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 2.14 |
| 5 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.17 |
| 6 | Fees payable to Peer Review Auditor | 0.01 |
| 7 | Fees payable to Market Maker (for Two Years) | 0.06 |
| 8 | Escrow Bank Fees | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹65.00 |
| Open | ₹91.00 |
| Low | ₹86.45 |
| High | ₹92.00 |
| Last Trade | ₹86.45 |
Lead Manager Reports
Chavda Infra IPO is a SME IPO of 66,56,000 equity shares of the face value of ₹10 aggregating up to ₹43 Crores. The issue is priced at ₹65 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Sep 12, 2023, and closes on Thu, Sep 14, 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 Chavda Infra IPO using UPI as a payment gateway. Zerodha customers can apply in Chavda Infra IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Chavda Infra IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Chavda Infra IPO opens on Tue, Sep 12, 2023 and closes on Thu, Sep 14, 2023.
Chavda Infra IPO lot size is 2000, and the minimum amount required for application is ₹1,30,000.
You can apply in Chavda Infra 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 Chavda Infra IPO will be done on Wednesday, September 20, 2023, and the allotted shares will be credited to your demat account by Fri, Sep 22, 2023. Check the Chavda Infra IPO allotment status.
The Chavda Infra IPO listing date is on Mon, Sep 25, 2023.
