Saakshi Medtech and Panels IPO Detail 2023
Introduction
The Saakshi Medtech and Panels IPO opens on September 25 and closes on September 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 45.16 crore through this public offering, consisting of 46.56 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 92 to ₹ 97 per share.
Saakshi Medtech and Panels Limited (“the Company”)
Saakshi Medtech and Panels Ltd. was incorporated in 2001. This is a diversified company engaged in the manufacturing of:
- Electrical control panels and cabinets are used in elevators, air compressors, the renewal energy industry, the oil and gas exploration industry, electrical vehicle charging stations, etc.
- Medical X-ray systems are used in the healthcare industry.
- Fabrication works for locomotives and
- wire harness division for our captive consumption in electrical control panels and for supply to the air compressor industry.
Its in-house engineering and design capabilities help it offer diversified products and solutions to its customers in each of the product categories in which it operates. Its comprehensive solutions include design, process engineering, and manufacturing, including fabrication, assembly, and testing facilities. The hardware components are imported or sourced from local suppliers, which are then programmed and assembled at its manufacturing facilities.
They operate through their three manufacturing facilities situated in Pune, with a total built-up area of approx. 9600 sq m.
Objects of the Issue,
- Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
- Repayment in full or in part, of certain of the company’s outstanding borrowings.
- Funding Capital Expenditure towards the installation of additional plant and machinery.
- Funding to meet working capital requirements.
- General Corporate Purpose.
Financial Highlights (Restated)
| Particulars | Period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 3,766.84 | 2,946.08 | 2,013.86 | 1,803.37 |
| Total Assets | 8,990.82 | 6,491.66 | 5,571.02 | 4,836.69 |
| Reserve & Surplus | 3,506.84 | 2,686.08 | 1,753.86 | 1,543.37 |
| Total Borrowings | 2,160.70 | 1,635.78 | 2,199.44 | 1,899.24 |
| Total Revenue | 8,727.87 | 9,169.35 | 6,022.17 | 6,170.99 |
| Profit After Tax | 820.76 | 932.21 | 210.49 | 578.76 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 92 to ₹ 97 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,200 shares |
| Issue Size | 4,656,000 shares (aggregating up to ₹ 45.16 crores) |
| Fresh Issue | 4,656,000 shares (aggregating up to ₹ 45.16 crores) |
| Listing At | NSE SME |
Shareholding Pattern
| Shareholding pre-issue | 13,000,000 |
| Shareholding post issue | 17,656,000 |
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: Saakshi Medtech and Panels 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: Saakshi Medtech and Panels IPO
The issue opens for subscription on September 25, 2023, and closes for subscription on September 27, 2023 (both days inclusive). The basis of allotment will be finalised on October 3, 2023, and the refunds will be initiated on October 4, 2023. In addition, the demat credits are expected to happen on October 5, 2023, and the stock will be listed on the NSE SME on October 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 25, 2023 |
| Closing Date | September 27, 2023 |
| Basis of Allotment | October 3, 2023 |
| Initiation of Refunds | October 4, 2023 |
| A credit of shares to Demat A/c | October 5, 2023 |
| Listing Date | October 6, 2023 |
Lot Size
The lot size of the Saakshi Medtech and Panels IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of ₹ 116,400.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,200 | ₹ 116,400 |
| Retail (Maximum) | 1 | 1,200 | ₹ 116,400 |
| HNI (Minimum) | 2 | 2,400 | ₹ 232,800 |
Promoters Holdings
Mr. Aniket Vijay Latkar and Ms. Chitra Vijay Latkar are the promoters of the company.
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Saakshi Medtech and Panels Limited Plot No. EL-23, J Block, MIDC Industrial Area, Bhosari, Pune- 411026 Phone: +91- 02039854400 Email: info@smtpl.co Website: https://www.smtpl.co/index.html |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
| IPO Lead Manager(s) | Hem Securities Limited |
