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Essen Speciality Films IPO GMP, Price, Dates & Allotment Details 2023

Essen Speciality Films IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Essen Speciality Films IPO will open on June 23 and close on June 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 66.33 crores through this public offering, consisting of 61.99 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 101 to ₹ 107 per share.

Essen Speciality Films Limited (“the Company”)

Essen Speciality Films Ltd. was incorporated in 2002. It manufactures and exports specialised plastic products in the home improvement and home furnishing industries to renowned multinational modern trade retailers, such as IKEA, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsven, Kohl’s, Kroger, etc.

They operate a fully integrated, sustainable, and technologically advanced manufacturing unit that has been certified to be compliant with the requirements of ISO 9001:2015.

Its product portfolio can broadly be classified into seven categories, namely, bath area, kitchen and dining, home décor, storage and organisation, fitness and lifestyle, outdoor and utility, and customised products, which include plastic films, spa slippers, baby shower caps, green-house gutter sheets, etc.

The company is part of the Rajoo Group, which is headed by its promoter group company and group company, Rajoo Engineers Limited (“REL”).

Rajoo Engineers Limited has been listed on the BSE Limited since October 24, 1994, and had a total market capitalization of 179.67 crore as of December 31, 2022.

Essen Speciality Films Limited is promoted by one of the promoters of REL, namely Khushboo Chandrakant Doshi. REL is a global player in plastic extrusion machinery, catering to 75 countries across the globe.

Noteworthy Highlight

  • The Ministry of Commerce and Industry, Government of India, has recognised the company as a’ two-star export house’.
  • Since its incorporation, they have also been an exclusive global supplier to IKEA for certain of its products.
  • They were awarded the title of ‘Best Supplier of the Year” twice by IKEA.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company,
  2. Funding the working capital requirements, and
  3. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth8,5627,2256,708
Total Assets10,97111,85910,440
Reserve & Surplus6,9625,6256,608
Total Borrowings6572,5831,541
Total Revenue12,04811,8579,681
Profit After Tax1,337517914
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 46.99 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 310,800 shares of the offering. While Gyr Capital Advisors Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd 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 TypeBook Built Issue IPO
IPO Price₹ 101 to ₹ 107 per share
Face Value₹ 10 per share
Market Lot1,200 shares
Issue Size6,199,200 shares (aggregating up to ₹ 66.33 crores)
Fresh Issue4,699,200 shares (aggregating up to ₹ [.] crores)
Offer for Sale1,500,000 shares (aggregating up to ₹ [.] crores)
Listing AtNSE SME
Company PromotersPallav Kishorbhai Doshi, Khushboo Chandrakant Doshi, and Karishma Rajesh Doshi

Market Maker

Market makerSMC Global Securities
Market maker portion310,800 shares

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

GMP: Essen Speciality Films 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: Essen Speciality Films IPO

The issue opens for subscription on June 23, 2023, and closes for subscription on June 27, 2023 (both days inclusive). The basis of allotment will be finalised on July 3, 2023, and the refunds will be initiated on July 4, 2023. In addition, the demat credits are expected to happen on July 5, 2023, and the stock will be listed on the NSE SME on July 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJune 23, 2023,
Closing DateJune 27, 2023
Basis of AllotmentJuly 3, 2023
Initiation of RefundsJuly 4, 2023
A credit of shares to Demat A/cJuly 5, 2023
Listing DateJuly 6, 2023

Lot Size

The lot size of the Essen Speciality Films IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of ₹ 128,400.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,200₹ 128,400
Retail (Maximum)11,200₹ 128,400
HNI (Minimum)22,400₹ 256,800

Promoters Holdings 

Pre-issue Shares Holdings100%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationEssen Speciality Films Limited
Plot No. A, Survey No. 192, Veraval (Shapar), Rajkot – 360 024
Phone: +91 98253 12701
Email: [email protected]
Website: www.essenspeciality.com
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://www.bigshareonline.com/
IPO Lead Manager(s)Gyr Capital Advisors Limited

FAQs

The Essen Speciality Films IPO price is ₹ 101 to ₹ 107 per share.

The minimum investment size is one lot for retail investors. One lot of the Essen Speciality Films IPO contains 1,200 shares of ₹ 128,400.

The finalisation of the basis of allotment for the Essen Speciality Films IPO will be done on July 3, 2023, and the allotted shares will be credited to your demat account by July 5, 2023. Check the Essen Speciality Films IPO allotment status.

The Essen Speciality Films IPO shares listing date is July 6, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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