Pritika Engineering Components IPO Detail
Pritika Engineering Components IPO opens on November 25 and closes on November 30, 2022. According to the DRHP filed by the company with SEBI, the IPO contained fresh issue 32,48,000 shares of ₹10 each aggregating up to worth ₹9.42 crores.
Precision machined parts are made by Pritika Engineering Components Limited largely for the automotive industry, particularly for tractors, trucks, and other commercial vehicles, etc.
The company produces a range of tractor and car parts, including front engine supports, end covers, sealed brakes, differential cases, hydraulic lift covers, transcases, flywheel housings, rear axle casings, hydraulic lift covers, and brake housings. A fully owned subsidiary of Pritika Auto Industries Limited is Pritika Engineering Components Limited.
Objects of the Issue
The company proposes to utilize the Net Proceeds of the Fresh Issue towards funding the following objects:
- Investment in relation to the new unit set up by the wholly owned subsidiary, Meeta Castings Limited (MCL);
- General Corporate purposes
Financial Highlights (Restated)
| Particulars | Period ended on 30th Sep, 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Total Assets | 8122 | 7107 | 5594 | 4234 |
| Net Worth | 1833 | 1653 | 1262 | 539 |
| Total Revenue | 4340 | 5740 | 3244 | 2172 |
| Profit After Tax | 186 | 546 | 38 | 14 |
| Total Borrowing | 3116 | 2508 | 2197 | 2023 |
Pritika Engineering Components IPO – Details
According to the DRHP filed by the company with SEBI, the IPO contained fresh issue 32,48,000 shares of ₹10 each aggregating up to worth ₹9.42 crores.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹29 per share |
| Face Value | ₹10 per share |
| Market Lot | 4,000 shares |
| Issue Size | 32,48,000 shares of ₹10 (Aggregating up to ₹9.42 Crore) |
| Fresh Issue | 32,48,000 shares of ₹10 (Aggregating up to ₹9.42 Crore) |
| NII (HNI) Shares Offered | 50% of the Net Offer |
| Retail Shares Offered | 50% of the Net Offer |
| Market Maker | SMC Global Securities Ltd |
| Listing At | NSE SME |
| Promoters | Pritika Auto Industries Limited |
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Important Date – Pritika Engineering Components IPO
| IPO Opening on | Nov 25, 2022 |
| IPO Closing on | Nov 30, 2022 |
| Basis of Allotment Publication Date | Dec 5, 2022 |
| Initiation of Refund | Dec 6, 2022 |
| Credit of the Shares to Demat Account | Dec 7, 2022 |
| IPO listing | Dec 8, 2022 |
Lot Size – Pritika Engineering Components IPO
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,16,000 |
| Retail (Max) | 1 | 4,000 | ₹1,16,000 |
Promoter Holding – Pritika Engineering Components IPO
| Pre issue shareholding | 100% |
| Post issue shareholding | – |
SWOT Analysis – Pritika Engineering Components IPO
STRENGTH
- Quality standards
- Wide product portfolio addressing the needs of varied customers across the industry.
- Dedicated technical & functional team to provide solutions to our customers;
- Extensive Sales and distribution network;
- Experience of handling large & complex projects;
- Multi-year relationships with most customers;
- Improving operational efficiency
- Strong & experienced R&D team
WEAKNESS
- Company major portion of revenue depends upon few customers. The percentage of Revenue from top 3 customers in FY22 and FY21 were 99.79% and 99.65% respectively, and for FY20, the percentage of Revenue from top 2 customers were 99.80%.
OPPORTUNITY
- The automotive industry is rapidly growing due to the introduction of new innovations, which is bolstering the growth of the auto parts manufacturing industry.
- The Global Automotive Parts and Components Market Size is expected to reach 2258.72 Billion By 2027.
- The Government of India’s Automotive Mission Plan (AMP) 2006-2026 has come a long way in ensuring growth for the sector. The Indian Automobile industry is expected to achieve a turnover of US$ 300 billion by 2026 and will grow at a CAGR of 15% from its current revenue of US$ 74 billion.
THREAT
- Changes in consumers’ preferences
- Changing technologies.
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Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Pritika Engineering Components Limited Plot No. C-94,Phase-VII Industrial Focal Point, S.A.S Nagar, Mohali, Punjab 160055 Phone: +91 9878723399 Email: compliance.pecl@pritikagroup.com Website: http://www.pritikaengineering.com/ |
| IPO Registrar | Satellite Corporate Services Private Limited Phone: +91-22- 28520461/462 Email: sme.ipo@satellitecorporate.com Website: http://www.satellitecorporate.com |
| IPO Lead Manager(s) | GYR Capital Advisors Limited |
FAQ’s
What will be the Pritika Engineering Components IPO lot size?
One lot of Pritika Engineering Components IPO contains 4,000 shares.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Pritika Engineering Components IPO allotment be available?
The finalization of Basis of Allotment for Pritika Engineering Components IPO will be done on December 5, 2022, and the allotted shares will be credited to your demat account by December 7, 2022. Check the Pritika Engineering Components IPO allotment status.
When will Pritika Engineering Components IPO list on exchanges?
The Pritika Engineering Components IPO shares listing date is December 8, 2022.
