Bookbuilding IPO | ₹45 Cr | Listed at NSE SME | Wed, Jul 26, 2023 - Fri, Jul 28, 2023
Shri Techtex IPO is a book build issue of ₹45.14 crores. The issue is entirely a fresh issue of 0.74 crore shares of ₹45.14 crore.
Shri Techtex IPO bidding started from Jul 26, 2023 and ended on Jul 28, 2023. The allotment for Shri Techtex IPO was finalized on Aug 2, 2023. The shares got listed on NSE SME on Aug 4, 2023.
Shri Techtex IPO price band is set at ₹61 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,22,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,44,000.
Beeline 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 Sunflower Broking Pvt.Ltd..
Refer to Shri Techtex IPO RHP for detailed Information.
IPO Open
Wed, Jul 26, 2023
IPO Close
Fri, Jul 28, 2023
Issue Price
₹61 per share
Market Cap (Pre-IPO)
₹152.20 Cr
| IPO Date | 26 to 28 Jul, 2023 |
| Listed on | Fri, Aug 4, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹54 to ₹61 |
| Issue Price | ₹61 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 74,00,000 shares (agg. up to ₹45 Cr) |
| Reserved for Market Maker | 3,72,000 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 70,28,000 shares (agg. up to ₹43 Cr) |
| Net Offered to Public | 70,28,000 shares (agg. up to ₹43 Cr) |
| Share Holding Pre Issue | 1,75,50,000 shares |
| Share Holding Post Issue | 2,49,50,000 shares |
| NSE Symbol | SHRITECH |
| ISIN | INE0OMF01015 |
Shri Techtex IPO comprises a total issue size of 74,00,000 shares. The net offer to the public is 70,28,000 shares, after excluding 3,72,000 shares allotted on a firm basis. Of the Net offer 35,10,000 (49.94%) are allocated to QIB, 10,56,000 (15.03%) allocated to NII 24,62,000 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 35,10,000 | 49.94% | 47.43% |
| − Anchor Investor Shares Offered | 21,00,000 | 28.38% | |
| − QIB (Ex. Anchor) Shares Offered | 14,10,000 | 19.05% | |
| NII (HNI) Shares Offered | 10,56,000 | 15.03% | 14.27% |
| Retail Shares Offered | 24,62,000 | 35.03% | 33.27% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,72,000 | 5.03% | |
| Total Shares Offered | 74,00,000 | 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 | ₹1,22,000 |
| Retail (Max) | 1 | 2,000 | ₹1,22,000 |
| HNI (Min) | 2 | 4,000 | ₹2,44,000 |
Shri Techtex IPO raises ₹12.81 crore from anchor investors. Shri Techtex IPO Anchor bid date is July 25, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Jul 25, 2023 |
| Shares Offered | 21,00,000 |
| Anchor Portion (₹ Cr.) | 12.81 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Sep 1, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Oct 31, 2023 |
Incorporated in 2011, Shri Techtex Limited manufactures Polypropylene (PP) Non-Woven Fabric in a variety of sizes and densities.
The company manufactures Polypropylene (PP) Non-Woven Fabric, which is used for ecological applications, especially in fields and industries where disposable or single-use products are necessary, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, Mattress & furniture covering, ecological packaging, industrial and consumer goods.
Since FY 2011, as a Partnership firm, Shri Techtex was engaged in the business of industrial trading activity in Polymers, Chemicals, Packaging Materials and other allied products. Upon conversion of the Partnership Firm to a company, Shri Techtex continued manufacturing on a job-work basis. W.e.f. April 01, 2021, as a result of demerger, the said business of contract manufacturing was transferred to the resultant company Aurum Fabritech Private Limited (Aurum Fabritech Private Limited was converted to LLP w.e.f. February 02, 2022). After the demerger, to date, the company is engaged in the business of manufacturing Polypropylene (PP) Non-Woven Fabric.
Shri Techtex's manufacturing site is located at Simaj of Dholka Taluka in the Ahmedabad District of Gujarat with a manufacturing capacity of 3600 MT PP non-woven fabric per annum. The manufacturing facility is spread across 41548 sq. meters.
The company's client base comes from Gujarat, Tamil Nadu, and West Bengal as well as countries like the USA, Taiwan, Canada, Denmark, and China.
Shri Techtex is planning an expansion by adding new products like PP Tufted Fabric, commonly known as Artificial Grass and PP Multifilament Yarns. The company will purchase new specialized machinery for manufacturing the new products, and is expecting to commence production by October 2023. The machinery will have an installed capacity to manufacture 1200 tons per annum for the PP Multifilament and 30 Lakhs Sq Meters per annum for PP Tufted Fabric (Artificial Grass).
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 73.86 | 52.82 | 46.52 | 17.67 |
| Total Income | 58.08 | 51.82 | 40.22 | 16.26 |
| Profit After Tax | 9.11 | 8.27 | 12.66 | 4.47 |
| NET Worth | 29.82 | 20.99 | 20.76 | 8.08 |
| Reserves and Surplus | 12.57 | 18.76 | 18.54 | 5.88 |
| Total Borrowing | 31.89 | 24.52 | 14.99 | 4.88 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Construction of Factory Shed | 3.71 |
| 2 | Purchase of Machineries | 6.31 |
| 3 | Commissioning of Solar Plant | 4.90 |
| 4 | To Meet Working Capital Requirements | 15.31 |
| 5 | General Corporate Purpose | 11.26 |
| KPI | |
|---|---|
| ROE | 35.84% |
| ROCE | 20.07% |
| Debt/Equity | 1.07 |
| RoNW | 30.54% |
| PAT Margin | 16.00% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.19 | |
| P/E (x) | 16.71 | |
| Promoter Holding | 100% | 70.34% |
| Market Cap | ₹152.20 Cr. |
The Shri Techtex IPO is subscribed 148.44 times on July 28, 2023 7:29:00 PM (Day 3). The public issue subscribed 156.37 times in the retail category, 58.03 times in the QIB category, and 250.65 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 58.03 | 14,10,000 | 8,18,26,000 |
| NII* | 250.65 | 10,56,000 | 26,46,90,000 |
| Retail | 156.37 | 24,62,000 | 38,49,86,000 |
| Total | 148.44 | 49,28,000 | 73,15,02,000 |
Total Application : 1,92,493
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Lead Manger Fees including Underwriting Commission | 3.41 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.10 |
| 4 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.05 |
| 5 | Fees payable to Peer Review Auditor | 0.01 |
| 6 | Fees Payable to Market Maker (for Two Years) | 0.06 |
| 7 | Escrow Bank Fees | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹61.00 |
| Open | ₹81.15 |
| Low | ₹77.20 |
| High | ₹85.20 |
| Last Trade | ₹85.20 |
Lead Manager Reports
Shri Techtex IPO is a SME IPO of 74,00,000 equity shares of the face value of ₹10 aggregating up to ₹45 Crores. The issue is priced at ₹61 per share. The minimum order quantity is 2000.
The IPO opens on Wed, Jul 26, 2023, and closes on Fri, Jul 28, 2023.
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 Shri Techtex IPO using UPI as a payment gateway. Zerodha customers can apply in Shri Techtex IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shri Techtex IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shri Techtex IPO opens on Wed, Jul 26, 2023 and closes on Fri, Jul 28, 2023.
Shri Techtex IPO lot size is 2000, and the minimum amount required for application is ₹1,22,000.
You can apply in Shri Techtex 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 Shri Techtex IPO will be done on Wednesday, August 2, 2023, and the allotted shares will be credited to your demat account by Fri, Aug 4, 2023. Check the Shri Techtex IPO allotment status.
The Shri Techtex IPO listing date is on Fri, Aug 4, 2023.
