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Esprit Stones IPO is a book build issue of ₹50.35 crores. The issue is entirely a fresh issue of 0.58 crore shares of ₹50.35 crore.
Esprit Stones IPO bidding started from Jul 26, 2024 and ended on Jul 30, 2024. The allotment for Esprit Stones IPO was finalized on Jul 31, 2024. The shares got listed on NSE SME on Aug 2, 2024.
Esprit Stones IPO price band is set at ₹87.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,31,200 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,78,400.
The issue includes a reservation of up to 1,28,000 shares for employees offered at a discount of ₹5.00 to the issue price.
Choice Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company is Choice Equity Broking Pvt.Ltd..
Refer to Esprit Stones IPO RHP for detailed Information.
| IPO Date | July 26, 2024 to July 30, 2024 |
| Listing Date | August 2, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹82 to ₹87 per share |
| Issue Price Final | ₹87 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 57,95,200 shares (aggregating up to ₹50.35 Cr) |
| Reserved for Market Maker | 2,91,200 shares Choice Equity Broking Pvt.Ltd. (aggregating up to ₹2.53 Cr) |
| Net Offered to Public | 55,04,000 shares (aggregating up to ₹47.82 Cr) |
| Employee Discount | ₹5.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,61,50,000 shares |
| Share Holding Post Issue | 2,19,45,200 shares |
Esprit Stones IPO offers total 57,95,200 shares. Out of which 26,88,000 (46.38%) allocated to QIB, 10,75,200 (18.55%) allocated to QIB, 8,06,400 (13.91%) allocated to NII, 18,81,600 (32.47%) allocated to RII and 16,12,800 (27.83%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,91,200 (5.02%) |
| QIB Shares Offered | 26,88,000 (46.38%) |
| − Anchor Investor Shares Offered | 16,12,800 (27.83%) |
| − QIB (Ex. Anchor) Shares Offered | 10,75,200 (18.55%) |
| NII (HNI) Shares Offered | 8,06,400 (13.91%) |
| Retail Shares Offered | 18,81,600 (32.47%) |
| Employee Shares Offered | 1,28,000 (2.21%) |
| Total Shares Offered | 57,95,200 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Esprit Stones IPO raises ₹14.03 crore from anchor investors. Esprit Stones IPO Anchor bid date is July 25, 2024. Esprit Stones IPO Anchor Investors list
| Bid Date | July 25, 2024 |
| Shares Offered | 16,12,800 |
| Anchor Portion Size (In Cr.) | 14.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 29, 2024 |
Esprit Stones IPO opens on July 26, 2024, and closes on July 30, 2024.
| IPO Open Date | Fri, Jul 26, 2024 |
| IPO Close Date | Tue, Jul 30, 2024 |
| Tentative Allotment | Wed, Jul 31, 2024 |
| Initiation of Refunds | Thu, Aug 1, 2024 |
| Credit of Shares to Demat | Thu, Aug 1, 2024 |
| Tentative Listing Date | Fri, Aug 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jul 30, 2024 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,39,200 |
| Retail (Max) | 1 | 1,600 | ₹1,39,200 |
| HNI (Min) | 2 | 3,200 | ₹2,78,400 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Founded in 2016, Esprit Stones Limited manufactures engineered quartz and marble surfaces.
As of March 2024, the Manufacturing Facility I is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq.ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz.
The company manufactures unsaturated polyester resin, at the manufacturing facility three.
The company has been certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications.
Esprit Stones Limited's revenue increased by 56.07% and profit after tax (PAT) rose by 190.04% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 27,459.35 | 23,802.24 | 18,069.74 |
| Total Income | 27,477.82 | 17,606.52 | 19,002.60 |
| Profit After Tax | 1,031.73 | 355.72 | 1,850.53 |
| Net Worth | 7,238.80 | 6,227.81 | 5,893.32 |
| Reserves and Surplus | 5,623.80 | 5,277.81 | 4,943.32 |
| Total Borrowing | 12,541.91 | 11,879.55 | 5,799.76 |
| Amount in ₹ Lakhs | |||
The market capitalization of Esprit Stones IPO is ₹190.92 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROCE | 12.39% |
| Debt/Equity | 1.72 |
| RoNW | 15.09% |
| PAT Margin | 3.78% |
| Price to Book Value | 1.94 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.39 | 4.70 |
| P/E (x) | 13.62 | 18.51 |
The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue ("Net Proceeds") are proposed to be utilised for the following objects:
[Dilip Davda] The company is in a highly competitive and fragmented segment. It posted de-growth in its bottom lines for the reported periods. It has made tall claims that does not match its financial performances. Based on FY24 earnings, the issue appears aggressively priced, discounting all near term positives. Well-informed investors may park moderate funds for the medium to long term. Read detail review...
| Listing Date | August 2, 2024 |
| BSE Script Code | |
| NSE Symbol | ESPRIT |
| ISIN | INE0SBP01018 |
| Final Issue Price | ₹87 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹87.00 |
| Open | ₹93.15 |
| Low | ₹93.15 |
| High | ₹97.80 |
| Last Trade | ₹97.80 |
Esprit Stones Ltd.
SP1, Udyog Vihar,
Sukher,
Industrial Area,
Udaipur, Rajasthan, 313004
Phone: +91 91166 52582
Email: legal@espritstones.com
Website: https://espritstones.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: espritstones.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Esprit Stones IPO is a SME IPO of 57,95,200 equity shares of the face value of ₹10 aggregating up to ₹50.35 Crores. The issue is priced at ₹87 per share. The minimum order quantity is 1600.
The IPO opens on July 26, 2024, and closes on July 30, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Esprit Stones IPO using UPI as a payment gateway. Zerodha customers can apply in Esprit Stones IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Esprit Stones IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Esprit Stones IPO opens on July 26, 2024 and closes on July 30, 2024.
Esprit Stones IPO lot size is 1600, and the minimum amount required for application is ₹1,39,200.
You can apply in Esprit Stones 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 Esprit Stones IPO will be done on Wednesday, July 31, 2024, and the allotted shares will be credited to your demat account by Thursday, August 1, 2024. Check the Esprit Stones IPO allotment status.
The Esprit Stones IPO listing date is on Friday, August 2, 2024.
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