Fixed Price IPO | ₹21 Cr | Listed at NSE SME | Mon, Sep 9, 2024 - Wed, Sep 11, 2024
Gajanand International IPO is a fixed price issue of ₹20.65 crores. The issue is entirely a fresh issue of 0.57 crore shares of ₹20.65 crore.
Gajanand International IPO bidding started from Sep 9, 2024 and ended on Sep 11, 2024. The allotment for Gajanand International IPO was finalized on Sep 12, 2024. The shares got listed on NSE SME on Sep 16, 2024.
Gajanand International IPO price is ₹36 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,16,000.
Fast Track Finsec Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Gajanand International IPO RHP for detailed Information.
IPO Open
Mon, Sep 9, 2024
IPO Close
Wed, Sep 11, 2024
Issue Price
₹36 per share
Market Cap (Pre-IPO)
₹67.81 Cr
| IPO Date | 9 to 11 Sep, 2024 |
| Listed on | Mon, Sep 16, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹36 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 57,36,000 shares (agg. up to ₹21 Cr) |
| Reserved for Market Maker | 2,88,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 54,48,000 shares (agg. up to ₹20 Cr) |
| Net Offered to Public | 54,48,000 shares (agg. up to ₹20 Cr) |
| Share Holding Pre Issue | 1,30,99,568 shares |
| Share Holding Post Issue | 1,88,35,568 shares |
| NSE Symbol | GAJANAND |
| ISIN | INE0QTE01018 |
Gajanand International IPO comprises a total issue size of 57,36,000 shares. The net offer to the public is 54,48,000 shares, after excluding 2,88,000 shares allotted on a firm basis. Of the Net offer 27,24,000 (50.00%) allocated to NII 27,24,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 27,24,000 | 50.00% | 47.49% |
| Retail Shares Offered | 27,24,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,88,000 | 5.02% | |
| Total Shares Offered | 57,36,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,08,000 |
| Retail (Max) | 1 | 3,000 | ₹1,08,000 |
| HNI (Min) | 2 | 6,000 | ₹2,16,000 |
Founded in 2009, Gajanand International Limited, formerly known as Gajanand Cottex Private Limited, is engaged in the production of contamination-free and sustainable cotton.
The company's product portfolio includes:
Company strengths:
As of March 31, 2024, the company had 22 employees.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 39.31 | 19.01 | 19.44 |
| Total Income | 108.75 | 73.42 | 61.76 |
| Profit After Tax | 2.24 | 1.41 | 0.03 |
| NET Worth | 17.71 | 5.48 | 4.07 |
| Reserves and Surplus | 4.61 | 5.06 | 3.65 |
| Total Borrowing | 12.07 | 11.79 | 14.65 |
| 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 out the Working Capital requirements of the Company; | 14.99 |
| 2 | To meet out the General Corporate Purposes; and | 4.01 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 19.30% |
| ROCE | 29.72% |
| Debt/Equity | 0.68 |
| RoNW | 19.30% |
| PAT Margin | 2.06% |
| Price to Book Value | 2.10 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.71 | 1.19 |
| P/E (x) | 21.08 | 30.31 |
| Promoter Holding | 90.5% | 62.34% |
| Market Cap | ₹67.81 Cr. |
The Gajanand International IPO is subscribed 15.27 times on September 11, 2024 6:19:03 PM (Day 3). The public issue subscribed 24.18 times in the retail category, [.] times in the QIB category, and 5.79 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 5.79 | 27,24,000 | 1,57,59,000 |
| Retail | 24.18 | 27,24,000 | 6,58,65,000 |
| Total | 15.27 | 54,48,000 | 8,31,75,000 |
Total Application : 21,955
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead manager(s) fees. | 0.35 |
| 2 | Underwriting commission | 1.03 |
| 3 | Brokerage, selling commission and upload fees. | 0.04 |
| 4 | Registrars to the issue | 0.01 |
| 5 | Legal Advisors | 0.01 |
| 6 | Printing, advertising and marketing expenses | 0.03 |
| 7 | Regulators including stock exchanges | 0.04 |
| 8 | Others, if any (Advisors to the company, Peer Review Auditors, and other misc. expenses like printing & stationery etc.) | 0.14 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹36.00 |
| Open | ₹42.00 |
| Low | ₹39.90 |
| High | ₹43.00 |
| Last Trade | ₹39.90 |
Lead Manager Reports
Gajanand International IPO is a SME IPO of 57,36,000 equity shares of the face value of ₹10 aggregating up to ₹21 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Sep 9, 2024, and closes on Wed, Sep 11, 2024.
Skyline Financial 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 Gajanand International IPO using UPI as a payment gateway. Zerodha customers can apply in Gajanand International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Gajanand International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Gajanand International IPO opens on Mon, Sep 9, 2024 and closes on Wed, Sep 11, 2024.
Gajanand International IPO lot size is 3000, and the minimum amount required for application is ₹1,08,000.
You can apply in Gajanand International 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 Gajanand International IPO will be done on Thursday, September 12, 2024, and the allotted shares will be credited to your demat account by Fri, Sep 13, 2024. Check the Gajanand International IPO allotment status.
The Gajanand International IPO listing date is on Mon, Sep 16, 2024.
