Pattech Fitwell Tube Components IPO GMP, Price, Dates & Allotment Details 2023
Table of Contents
Introduction
The Pattech Fitwell Tube Components IPO will open on April 5 and close on April 12, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 12 crores through this public offering, consisting of 24 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 50 per share.
About Pattech Fitwell Tube Components Limited (“the Company”)
The company was originally formed as a partnership in 2012. Therefore in 2013, it converted into a private company and later converted into a public company in 2022.
It is a manufacturer of forging products for the non-automotive sector. The company have a total installed capacity of 14104.13 MTPA for manufacturing forged flanges, complex and specialised machined components and welded assemblies in the area of open die forgings. The company converts semifinished/raw products to finished products by carrying its value-added processes such as forming, bending, drilling, cutting, inspection, polishing, painting, blasting, welding, punching, marking, testing and packaging.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding working capital requirements.
- general corporate purposes.
Financial Highlights (Restated Consolidated)
| Particulars | The period ended on 30th Nov. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 529 | 563 | 321 | 190 |
| Total Assets | 2,661 | 2,530 | 1,387 | 1,156 |
| Total Borrowings | 1,746 | 1,664 | 976 | 868 |
| Total Revenue | 1,138 | 2,263 | 1,845 | 2,039 |
| Profit After Tax | 20 | 144 | (1) | 8 |
IPO details
As per the DRHP filed with SEBI, a total of 24 lakh shares will be offered as part of the fresh issue on the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 126,000 shares of the offering. While Fedex Securities Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 50 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 shares |
| Issue Size | 2,400,000 shares of ₹ 10 each (Aggregating up to ₹ 12 Crore) |
| Fresh Issue | 2,400,000 shares of ₹ 10 each (Aggregating up to ₹ 12 Crore) |
| Retail Shares Offered | 50% of the net issue |
| Other Shares Offered | 50% of the net issue |
| Market maker portion | 126,000 shares |
| Listing At | NSE SME |
| Company Promoters | Bharatbhai Jivrajbhai Limbani and Jaysukhbhai Popatbhai Limbani |
GMP: Pattech Fitwell Tube Components IPO
Pattech Fitwell Tube Components’ 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: Pattech Fitwell Tube Components IPO
The issue opens for subscription on April 5, 2023, and closes for subscription on April 12, 2023 (both days inclusive). The basis of allotment will be finalised on April 18th, 2023, and the refunds will be initiated on April 19, 2023. In addition, the demat credits are expected to happen on April 20, 2023, and the stock will list on April 21, 2023, on the NSE SME segment.
| Opening Date | April 5, 2023 |
| Closing Date | April 12, 2023 |
| Basis of Allotment | April 18, 2023 |
| Initiation of Refunds | April 19, 2023 |
| A credit of shares to Demat A/c | April 20, 2023 |
| Listing Date | April 21, 2023 |
Lot Size: Pattech Fitwell Tube Components IPO
The lot size of the Pattech Fitwell Tube Components IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 150,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 150,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 150,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 300,000 |
Promoters Holdings
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | – |
Review [Avoid]
The company offered its IPO at ₹50 per share, which means ₹40 premium, which is very high. If we analyse the company’s performance, its profit percentage has been reduced in the current year. It only made ₹19.69 lacks in profit through November 30, 2022. Which is not in line with the IPO price ask. The company also made a loss during FY21; this year was COVID.
Pattech Fitwell Tube Components Limited operates in a highly competitive and fragmented segment. Based on its current state, the issue is exorbitantly priced.
On the other hand, the company has a well-diversified customer base all over India, providing products and services per customer requirements. But this is not reflected in his financial performance. If we analyse the RoE and RoCE of the company as of November 30, 2022, these have declined to 3.55% and 2.84% from 25.66% and 11.00% as of March 2022, respectively. No compelling reasons exist to apply for this IPO, so you confidently avoid it.
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Pattech Fitwell Tube Components Limited Survey No.873/B/1, RD No: 1, Ansons Limbani Estate Nr. GETCO 66K. V. Sub Station, G.I.D.C, Por, N.H-08 Vadodara – 391243 Phone: (0265) 2830151 Email: cs@pftcpipefittings.com Website: https://www.pftcpipefittings.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) | FedEx Securities Limited |
FAQ’s
What is Pattech Fitwell Tube Components IPO price?
The Pattech Fitwell Tube Components IPO price is ₹ 50 per share.
What will be the Pattech Fitwell Tube Components IPO lot size?
One lot of the Pattech Fitwell Tube Components IPO contains 3,000 shares of ₹ 150,000.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Pattech Fitwell Tube Components IPO allotment be available?
The finalization of the basis of allotment for the Pattech Fitwell Tube Components IPO will be done on April 18, 2023, and the allotted shares will be credited to your demat account by April 20, 2023. Check the Pattech Fitwell Tube Components IPO allotment status.
When will Pattech Fitwell Tube Components IPO list on exchanges?
The Pattech Fitwell Tube Components IPO shares listing date is April 21, 2023.
