Fixed Price IPO | ₹22 Cr | Listed at BSE SME | Tue, Sep 26, 2023 - Tue, Oct 3, 2023
Sunita Tools IPO is a fixed issue price of ₹22.04 crores. The issue is a combination of fresh issue of 0.13 crore shares aggregating to ₹19.14 crores and offer for sale of 0.02 crore shares aggregating to ₹2.90 crores.
Sunita Tools IPO bidding started from Sep 26, 2023 and ended on Oct 3, 2023. The allotment for Sunita Tools IPO was finalized on Oct 4, 2023. The shares got listed on the BSE SME on Oct 11, 2023.
Sunita Tools IPO is set final issue price at ₹145 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹1,45,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,90,000.
Aryaman Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Sunita Tools IPO RHP for detailed Information.
IPO Open
Tue, Sep 26, 2023
IPO Close
Tue, Oct 3, 2023
Issue Price
₹145 per share
Market Cap (Pre-IPO)
₹81.56 Cr
| IPO Date | 26 Sep to 3 Oct, 2023 |
| Listed on | Wed, Oct 11, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹145 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 15,20,000 shares (agg. up to ₹22 Cr) |
| Reserved for Market Maker | 78,000 shares SS Corporate Securities Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 12,42,000 shares (agg. up to ₹18 Cr) |
| Offer for Sale | 2,00,000 shares of ₹10 (agg. up to ₹3 Cr) |
| Net Offered to Public | 14,42,000 shares (agg. up to ₹21 Cr) |
| Share Holding Pre Issue | 43,05,000 shares |
| Share Holding Post Issue | 56,25,000 shares |
| BSE Script Code | 544001 |
| ISIN | INE0Q1S01010 |
Sunita Tools IPO comprises a total issue size of 15,20,000 shares. The net offer to the public is 14,42,000 shares, after excluding 78,000 shares allotted on a firm basis. Of the Net offer 7,21,000 (50.00%) allocated to NII 7,21,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 7,21,000 | 50.00% | 47.43% |
| Retail Shares Offered | 7,21,000 | 50.00% | 47.43% |
| Firm Reservations | |||
| Market Maker Shares Offered | 78,000 | 5.13% | |
| Total Shares Offered | 15,20,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,45,000 |
| Retail (Max) | 1 | 1,000 | ₹1,45,000 |
| HNI (Min) | 2 | 2,000 | ₹2,90,000 |
Incorporated in 1988, Sunita Tools Limited manufactures mold base and machining parts for Automotive, Pharmaceutical, Electronics, Consumer Goods, and Manufacturing Sectors.
The company manufactures Customized Mould Bases, Precision Finish CNC Machining, Plastic Mould Bases, Pocket Machining, Injection Mould Bases, Precision Component Machining, Mould Bases For Caps and closures, Blow Mould Bases, Standard Mould Bases, Compression Mould bases, Die Casting Mould Bases, Insert Mould Bases, Over mold Bases, and Prototype Mould Bases. The company's products are used as Capital Assets as inputs in the Automotive Industry, Heavy Manufacturing, Industry Plastics Industry, Electrical Industry, and Consumer Goods Industry.
Sunita Tools' manufacturing unit is located in Vasai, Mumbai, with a capacity to produce large dimensional products ranging from 200*200 mm to 4000*2000 mm up to 30 tones in weight.
The company recorded ₹ 666.36 lakhs in Fiscal 2021, ₹ 873.47 lakhs in fiscal 2022, and ₹ 1,384.44 lakhs in Fiscal 2023 in revenue from operations respectively.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 25.38 | 14.23 | 13.52 |
| Total Income | 14.17 | 8.89 | 6.92 |
| Profit After Tax | 3.38 | 0.81 | 0.27 |
| NET Worth | 3.21 | -2.67 | -3.48 |
| Reserves and Surplus | -1.10 | -4.48 | -5.29 |
| Total Borrowing | 16.60 | 12.49 | 13.35 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Working capital requirements | |
| 2 | General Corporate Purpose |
| KPI | Mar 31, 2023 |
|---|---|
| ROE | 1259 |
| ROCE | 36.76 |
| Debt/Equity | 5.17 |
| RoNW | 105.31 |
| PAT Margin | 24.39% |
| EBITDA Margin | 38.04% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 13.96 | |
| P/E (x) | 16.88 | 24.17 |
| Promoter Holding | 100.00% | 72.97% |
| Market Cap | ₹81.56 Cr. |
The Sunita Tools IPO is subscribed 13.24 times on October 3, 2023 7:02:00 PM (Day 5). The public issue subscribed 21.1 times in the retail category, [.] times in the QIB category, and 5.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 5.27 | 7,21,000 | 38,02,000 |
| Retail | 21.1 | 7,21,000 | 1,52,11,000 |
| Total | 13.24 | 14,42,000 | 1,90,94,000 |
Total Application : 17,418
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses. | 0.37 |
| 2 | Marketing & Distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses(1)(2)(3) | 1.25 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.02 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.13 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹145.00 |
| Open | ₹155.00 |
| Low | ₹147.25 |
| High | ₹158.00 |
| Last Trade | ₹147.25 |
Lead Manager Reports
Sunita Tools IPO is a SME IPO of 15,20,000 equity shares of the face value of ₹10 aggregating up to ₹22 Crores. The issue is priced at ₹145 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Sep 26, 2023, and closes on Tue, Oct 3, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Sunita Tools IPO using UPI as a payment gateway. Zerodha customers can apply in Sunita Tools IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sunita Tools IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sunita Tools IPO opens on Tue, Sep 26, 2023 and closes on Tue, Oct 3, 2023.
Sunita Tools IPO lot size is 1000, and the minimum amount required for application is ₹1,45,000.
You can apply in Sunita Tools 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 Sunita Tools IPO will be done on Wednesday, October 4, 2023, and the allotted shares will be credited to your demat account by Fri, Oct 6, 2023. Check the Sunita Tools IPO allotment status.
The Sunita Tools IPO listing date is on Wed, Oct 11, 2023.
