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:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company,
- Funding the working capital requirements, and
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 8,562 | 7,225 | 6,708 |
| Total Assets | 10,971 | 11,859 | 10,440 |
| Reserve & Surplus | 6,962 | 5,625 | 6,608 |
| Total Borrowings | 657 | 2,583 | 1,541 |
| Total Revenue | 12,048 | 11,857 | 9,681 |
| Profit After Tax | 1,337 | 517 | 914 |
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 Type | Book Built Issue IPO |
| IPO Price | ₹ 101 to ₹ 107 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,200 shares |
| Issue Size | 6,199,200 shares (aggregating up to ₹ 66.33 crores) |
| Fresh Issue | 4,699,200 shares (aggregating up to ₹ [.] crores) |
| Offer for Sale | 1,500,000 shares (aggregating up to ₹ [.] crores) |
| Listing At | NSE SME |
| Company Promoters | Pallav Kishorbhai Doshi, Khushboo Chandrakant Doshi, and Karishma Rajesh Doshi |
Market Maker
| Market maker | SMC Global Securities |
| Market maker portion | 310,800 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 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 Date | June 23, 2023, |
| Closing Date | June 27, 2023 |
| Basis of Allotment | July 3, 2023 |
| Initiation of Refunds | July 4, 2023 |
| A credit of shares to Demat A/c | July 5, 2023 |
| Listing Date | July 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.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,200 | ₹ 128,400 |
| Retail (Maximum) | 1 | 1,200 | ₹ 128,400 |
| HNI (Minimum) | 2 | 2,400 | ₹ 256,800 |
Promoters Holdings
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Essen Speciality Films Limited Plot No. A, Survey No. 192, Veraval (Shapar), Rajkot – 360 024 Phone: +91 98253 12701 Email: info@essenspeciality.com Website: www.essenspeciality.com |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | Gyr Capital Advisors Limited |
FAQs
What is Essen Speciality Films’ IPO price?
The Essen Speciality Films IPO price is ₹ 101 to ₹ 107 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 Essen Speciality Films IPO contains 1,200 shares of ₹ 128,400.
When will the Essen Speciality Films IPO allotment be available?
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.
When will the Essen Speciality Films IPO list on exchanges?
The Essen Speciality Films IPO shares listing date is July 6, 2023.
How many Essen Speciality Films 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.
