Fixed Price IPO | ₹22 Cr | Listed at NSE SME | Mon, Feb 20, 2017 - Wed, Mar 1, 2017
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Feb 20, 2017
IPO Close
Wed, Mar 1, 2017
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹82.01 Cr
| IPO Date | 20 Feb to 1 Mar, 2017 |
| Listed on | Thu, Mar 9, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 22,00,800 shares (agg. up to ₹22 Cr) |
| Reserved for Market Maker | 1,10,400 shares Alacrity Securities Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 20,90,400 shares (agg. up to ₹21 Cr) |
| Net Offered to Public | 20,90,400 shares (agg. up to ₹21 Cr) |
| Share Holding Pre Issue | 60,00,000 shares |
| Share Holding Post Issue | 82,00,800 shares |
| NSE Symbol | NITIRAJ |
| ISIN | INE439T01012 |
Nitiraj Engineers IPO comprises a total issue size of 22,00,800 shares. The net offer to the public is 20,90,400 shares, after excluding 1,10,400 shares allotted on a firm basis. Of the Net offer 10,45,200 (50.00%) allocated to NII 10,45,200 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 10,45,200 | 50.00% | 47.49% |
| Retail Shares Offered | 10,45,200 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,10,400 | 5.02% | |
| Total Shares Offered | 22,00,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Nitiraj Engineers IPO is subscribed [.] times on March 1, 2017 6:35:00 PM (Day 3). The public issue subscribed [.] times in the retail category, [.] times in the QIB category, and [.] times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including fees and reimbursements of Market Making Fees, Underwriting commission, payment to other intermediaries such as Legal Advisors, Registrars, Bankers, processing fee to ASBA banks and other out of pocket expenses; | 0.42 |
| 2 | Printing & Stationery, postage / courier expenses | 0.08 |
| 3 | Marketing & Advertising expenses including Selling Commission & Brokerage | 0.46 |
| 4 | Regulatory fee and other expenses | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹97.00 |
| Low | ₹87.00 |
| High | ₹97.10 |
| Last Trade | ₹94.50 |
Lead Manager Reports
Nitiraj Engineers IPO is a SME IPO of 22,00,800 equity shares of the face value of ₹10 aggregating up to ₹22 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Feb 20, 2017, and closes on Wed, Mar 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 Mon, Feb 20, 2017 and closes on Wed, Mar 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 Thu, Mar 9, 2017.
