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Nitiraj Engineers IPO is a fixed price issue of ₹22.01 crores. The issue is entirely a fresh issue of 0.22 crore shares of ₹22.01 crore.
Nitiraj Engineers IPO bidding started from Feb 20, 2017 and ended on Mar 1, 2017. The shares got listed on NSE SME on Mar 9, 2017.
Nitiraj Engineers IPO price is ₹100.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,40,000.
Arihant Capital Markets 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 Alacrity Securities Ltd..
Refer to Nitiraj Engineers IPO RHP for detailed Information.
| IPO Date | February 20, 2017 to March 1, 2017 |
| Listing Date | March 9, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 22,00,800 shares (aggregating up to ₹22.01 Cr) |
| Reserved for Market Maker | 1,10,400 shares Alacrity Securities Ltd. (aggregating up to ₹1.10 Cr) |
| Net Offered to Public | 20,90,400 shares (aggregating up to ₹20.90 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 60,00,000 shares |
| Share Holding Post Issue | 82,00,800 shares |
Nitiraj Engineers IPO offers total 22,00,800 shares. Out of which 10,45,200 (47.49%) allocated to NII, 10,45,200 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,10,400 (5.02%) |
| NII (HNI) Shares Offered | 10,45,200 (47.49%) |
| Retail Shares Offered | 10,45,200 (47.49%) |
| Total Shares Offered | 22,00,800 (100.00%) |
Nitiraj Engineers IPO opens on February 20, 2017, and closes on March 1, 2017.
| IPO Open Date | Mon, Feb 20, 2017 |
| IPO Close Date | Wed, Mar 1, 2017 |
| Tentative Listing Date | Thu, Mar 9, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 1, 2017 |
Investors can bid for a minimum of 1,200 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 | 1,200 | ₹1,20,000 |
| Retail (Max) | 1 | 1,200 | ₹1,20,000 |
| HNI (Min) | 2 | 2,400 | ₹2,40,000 |
Incorporated in 1989, Nitiraj Engineers Limited manufactures and sells a range of electronic weighing scales and systems, currency counting machines, and electronic fare meters for industrial and domestic consumption.
They offers jewelry, tabletop, price computing, piece counting, platform, hanging, industrial weighing, baby weighing, person weighing, adult weighing, body mass index, and kitchen scales; and special application indicators, currency counting machines, and taxi/rickshaw fare meters. The company supplies its products under the Phoenix brand name through a network of dealers to customers in India and internationally.
| Particulars | For the year/period ended (in Rs. Lacs) | |||||
|---|---|---|---|---|---|---|
| 31-Dec-15 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | 31-Mar-11 | |
| Total Assets | 4,690.59 | 3,705.64 | 3,269.90 | 2,729.89 | 2,667.38 | 2,224.49 |
| Total Revenue | 4,519.64 | 9,062.67 | 7,725.82 | 9,083.70 | 4,187.20 | 2,693.28 |
| Profit After Tax (PAT) | 364.72 | 418.40 | 389.01 | 121.45 | 284.28 | 186.12 |
The Company Nitiraj Engineers IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Development of new products | 5.25 |
| 2 | Setting up manufacturing Unit for the existing and new range of products | 5.75 |
| 3 | Expansion of Marketing Network and Brand building | 5.00 |
| 4 | General Corporate Purposes | 5.00 |
| 5 | Issue Expenses | 1.01 |
[Dilip Davda] Issue pricing appears to be reasonable. Cash surplus investors may consider investment for medium to long term. Read detail review...
| Listing Date | March 9, 2017 |
| BSE Script Code | |
| NSE Symbol | NITIRAJ |
| ISIN | INE439T01012 |
| Final Issue Price | ₹100 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹97.00 |
| Low | ₹87.00 |
| High | ₹97.10 |
| Last Trade | ₹94.50 |
Nitiraj Engineers Ltd.
306A Bhabha Building,
N. M. Joshi Marg,
Delisle Road,
Mumbai, Maharashtra, 400011
Phone: 022-23094161
Email: investor@nitiraj.net
Website: http://www.nitiraj.net
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Nitiraj Engineers IPO is a SME IPO of 22,00,800 equity shares of the face value of ₹10 aggregating up to ₹22.01 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on February 20, 2017, and closes on March 1, 2017.
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 Nitiraj Engineers IPO using UPI as a payment gateway. Zerodha customers can apply in Nitiraj Engineers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Nitiraj Engineers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Nitiraj Engineers IPO opens on February 20, 2017 and closes on March 1, 2017.
Nitiraj Engineers IPO lot size is 1200, and the minimum amount required for application is ₹1,20,000.
You can apply in Nitiraj Engineers 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 Nitiraj Engineers IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Nitiraj Engineers IPO allotment status.
The Nitiraj Engineers IPO listing date is on Thursday, March 9, 2017.
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