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Pattech Fitwell Tube Components IPO GMP, Price, Dates & Allotment Details 2023

Pattech Fitwell Tube Components IPO GMP, Price, Dates & Allotment Details 2023

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)

ParticularsThe period ended on 30th Nov. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth529563321190
Total Assets2,6612,5301,3871,156
Total Borrowings1,7461,664976868
Total Revenue1,1382,2631,8452,039
Profit After Tax20144(1)8
(Amount in ₹ Lakhs)

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 TypeFixed Price Issue IPO
IPO Price₹ 50 per share
Face Value₹ 10 per share
Market Lot3,000 shares
Issue Size2,400,000 shares of ₹ 10 each (Aggregating up to ₹ 12 Crore)
Fresh Issue2,400,000 shares of ₹ 10 each (Aggregating up to ₹ 12 Crore)
Retail Shares Offered50% of the net issue
Other Shares Offered50% of the net issue
Market maker portion126,000 shares
Listing AtNSE SME
Company PromotersBharatbhai 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 DateApril 5, 2023
Closing DateApril 12, 2023
Basis of AllotmentApril 18, 2023
Initiation of RefundsApril 19, 2023
A credit of shares to Demat A/cApril 20, 2023
Listing DateApril 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 150,000
Retail (Maximum)13,000₹ 150,000
HNI (Minimum)26,000₹ 300,000

Promoters Holdings 

Pre-issue Shares Holdings100%
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 InformationPattech 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: [email protected]
Website: https://www.pftcpipefittings.com/
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://www.bigshareonline.com/
IPO Lead Manager(s)FedEx Securities Limited 

FAQ’s

The Pattech Fitwell Tube Components IPO price is ₹ 50 per share.

One lot of the Pattech Fitwell Tube Components IPO contains 3,000 shares of ₹ 150,000.

The minimum investment size is one lot for retail investors.

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.

The Pattech Fitwell Tube Components IPO shares listing date is April 21, 2023.

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