Chavda Infra IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Chavda Infra IPO will open on September 12 and close on September 14, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 43.26 crore through this public offering, consisting of 66.56 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 60 to ₹ 65 per share.
Chavda Infra Limited (“the Company”)
Chavda Infrastructure Limited was incorporated in 2012. Based in Ahmedabad, Chavda Infra Limited is part of the Chavda group. The company is an integrated civil construction company offering a diversified range of construction and allied services across residential, commercial, and institutional projects in Gujarat, especially in Ahmedabad and Rajkot.
This provides services across the construction value chain, ranging from planning and design to construction and post-construction activities, to their clients.
The company derives its revenue from the following three business verticals:
- Contracting Services
- Development Services
- Commercial Renting Services
The company is ISO 9001:2015 certified for quality management systems by BCQ Assessment Private Limited. The quality certification is for the construction of commercial, residential, and institutional buildings.
They have in-house capabilities to deliver a project from conceptualization to completion with a fast turnaround time from acquisition to launch to completion, which focuses on de-risking and improving return on investment. Its core competence lies in professionally managing the real estate value chain and attracting and retaining talent to maximize value creation.
Over the years, they have successfully executed more than 100 projects worth ₹ 67,099.45 lakh. Its execution capabilities have grown significantly with time, both in terms of the size of projects that we bid for and execute and the number of projects that they execute simultaneously.
As of May 31, 2023, we had 26 ongoing projects worth approximately ₹ 60,139 lakhs, suggesting a strong order book. Out of 26 ongoing projects, 4 are commercial, 4 are institutional, and 18 are residential.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 6.69 per Equity Share |
| ROE | 49.41% |
| ROCE | 43.62% |
| Return on Net Worth (RoNW) | 39.62% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- To Meet Working Capital Requirements,
- General corporate purposes, and
- To meet Public Issue Expenses.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 3040.36 | 1835.74 | 1314.28 |
| Total Assets | 15424.40 | 10880.79 | 8668.11 |
| Reserve & Surplus | 1240.36 | 1685.74 | 1164.28 |
| Total Borrowings | 5328.95 | 4993.14 | 3330.32 |
| Total Revenue | 16203.37 | 10987.68 | 9131.05 |
| Profit After Tax | 1204.62 | 521.46 | 443.84 |
IPO details
As per the DRHP filed with SEBI, 66.56 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 3.36 lakh shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, KFIN Technologies Limited will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 60 to ₹ 65 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 2,000 shares |
| Issue Size | 6,656,000 shares (aggregating up to ₹ 43.26 crores) |
| Fresh Issue | 6,656,000 shares (aggregating up to ₹ [.] crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Spread X Securities |
| Market maker portion | 336,000 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the offer |
| Retail shares offered | Not less than 35% of the 0ffer |
GMP: Chavda Infra IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Chavda Infra IPO
The issue opens for subscription on September 12, 2023, and closes for subscription on September 14, 2023 (both days inclusive). The basis of allotment will be finalised on September 20, 2023, and the refunds will be initiated on September 21, 2023. In addition, the demat credits are expected to happen on September 22, 2023, and the stock will be listed on the NSE SME on September 25, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 12, 2023 |
| Closing Date | September 14, 2023 |
| Basis of Allotment | September 20, 2023 |
| Initiation of Refunds | September 21, 2023 |
| A credit of shares to Demat A/c | September 22, 2023 |
| Listing Date | September 25, 2023 |
Lot Size
The lot size of the Chavda Infra IPO is 2,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 2,000 shares of ₹ 130,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 2,000 | ₹ 130,000 |
| Retail (Maximum) | 1 | 2,000 | ₹ 130,000 |
| HNI (Minimum) | 2 | 4,000 | ₹ 260,000 |
Promoters Holdings
Mr. Mahesh Gunvantlal Chavda, Mrs. Dharmishtha Maheshkumar Chavda and Mr. Johil Maheshbhai Chavda are the promoters of the company.
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | 73% |
SWOT Analysis
| STRENGTHS | WEAKNESSES |
|---|---|
| • Experienced Promoter • Qualified Team • Execution Capability with Latest Technology • Quality Services | • Limited Regional Reach • Customer Concentration • Management of Working capital & High Debt |
| OPPORTUNITIES | THREATS |
| • Expanding new Geographical markets • Venture in New Business Vertical | • Fluctuation in raw material prices • Economic Recession • Natural Calamities |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Chavda Infra Limited 304 to 307, 406, 407 B Square I,Near Neptune House, Iscon Ambali BRTS Road, Ahmedabad- 380058 Phone: 079 4892 6087 Email: compliance@chavdainfra.com Website: https://www.chavdainfra.com/ |
| IPO Registrar | Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: chavdainfra.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
| IPO Lead Manager(s) | Beeline Capital Advisors Pvt Ltd |
FAQs
What is Chavda Infra’s IPO price?
The Chavda Infra IPO price is ₹ 60 to ₹ 65 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Chavda Infra IPO contains 2,000 shares of ₹ 130,000.
When will the Chavda Infra IPO allotment be available?
The finalisation of the basis of allotment for the Chavda Infra IPO will be done on September 20, 2023, and the allotted shares will be credited to your demat account by September 22, 2023. Check the Chavda Infra IPO allotment status.
When will the Chavda Infra IPO be listed on exchanges?
The Chavda Infra IPO shares listing date is September 25, 2023.
How many Chavda Infra IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.
