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Pritika Engineering Components IPO Detail

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)

ParticularsPeriod ended on 30th Sep, 2022FY 2021-22FY 2020-21FY 2019-20
Total Assets8122710755944234
Net Worth183316531262539
Total Revenue4340574032442172
Profit After Tax1865463814
Total Borrowing3116250821972023
(₹ in Crore)

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 TypeFixed Price Issue IPO
IPO Price₹29 per share
Face Value₹10 per share
Market Lot4,000 shares
Issue Size32,48,000 shares of ₹10 (Aggregating up to ₹9.42 Crore)
Fresh Issue32,48,000 shares of ₹10 (Aggregating up to ₹9.42 Crore)
NII (HNI) Shares Offered50% of the Net Offer
Retail Shares Offered50% of the Net Offer
Market MakerSMC Global Securities Ltd
Listing AtNSE SME
PromotersPritika Auto Industries Limited

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Important Date – Pritika Engineering Components IPO

IPO Opening onNov 25, 2022
IPO Closing onNov 30, 2022
Basis of Allotment Publication DateDec 5, 2022
Initiation of RefundDec 6, 2022
Credit of the Shares to Demat AccountDec 7, 2022
IPO listingDec 8, 2022

 

Lot Size – Pritika Engineering Components IPO

ApplicationsLotsSharesAmount
Retail (Min)14,000₹1,16,000
Retail (Max)14,000₹1,16,000

 

Promoter Holding – Pritika Engineering Components IPO

Pre issue shareholding100%
Post issue shareholding

SWOT Analysis – Pritika Engineering Components IPO

STRENGTH

  1. Quality standards 
  2. Wide product portfolio addressing the needs of varied customers across the industry.
  3. Dedicated technical & functional team to provide solutions to our customers; 
  4. Extensive Sales and distribution network; 
  5. Experience of handling large & complex projects; 
  6. Multi-year relationships with most customers;
  7. Improving operational efficiency
  8. Strong & experienced R&D team 

WEAKNESS

  1. 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

  1. The automotive industry is rapidly growing due to the introduction of new innovations, which is bolstering the growth of the auto parts manufacturing industry. 
  2. The Global Automotive Parts and Components Market Size is expected to reach 2258.72 Billion By 2027.
  3. 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

  1. Changes in consumers’ preferences
  2. Changing technologies.

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Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationPritika Engineering Components Limited
Plot No. C-94,Phase-VII Industrial Focal Point,
S.A.S Nagar, Mohali, Punjab 160055
Phone: +91 9878723399
Email: [email protected]
Website: http://www.pritikaengineering.com/
IPO RegistrarSatellite Corporate Services Private Limited
Phone: +91-22- 28520461/462
Email: [email protected]
Website: http://www.satellitecorporate.com
IPO Lead Manager(s)GYR Capital Advisors Limited

FAQ’s

One lot of Pritika Engineering Components IPO contains 4,000 shares.

The minimum investment size is one lot for retail investors.

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.

The Pritika Engineering Components IPO shares listing date is December 8, 2022.

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