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Saakshi Medtech and Panels IPO Detail 2023

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:

  1. 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.
  2. Medical X-ray systems are used in the healthcare industry.
  3. Fabrication works for locomotives and
  4. 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,

  1. Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
  2. Repayment in full or in part, of certain of the company’s outstanding borrowings.
  3. Funding Capital Expenditure towards the installation of additional plant and machinery.
  4. Funding to meet working capital requirements.
  5. General Corporate Purpose.

Financial Highlights (Restated)

ParticularsPeriod ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth3,766.842,946.082,013.861,803.37
Total Assets8,990.826,491.665,571.024,836.69
Reserve & Surplus3,506.842,686.081,753.861,543.37
Total Borrowings2,160.701,635.782,199.441,899.24
Total Revenue8,727.879,169.356,022.176,170.99
Profit After Tax820.76932.21210.49578.76
(Amount in ₹ Lakhs)

IPO details

Issue TypeBook Built Issue IPO
IPO Price₹ 92 to ₹ 97 per share
Face Value₹ 10 per share
Market Lot1,200 shares
Issue Size4,656,000 shares (aggregating up to ₹ 45.16 crores)
Fresh Issue4,656,000 shares (aggregating up to ₹ 45.16 crores)
Listing AtNSE SME

Shareholding Pattern

Shareholding pre-issue13,000,000
Shareholding post issue17,656,000

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot 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 DateSeptember 25, 2023
Closing DateSeptember 27, 2023
Basis of AllotmentOctober 3, 2023
Initiation of RefundsOctober 4, 2023
A credit of shares to Demat A/cOctober 5, 2023
Listing DateOctober 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,200₹ 116,400
Retail (Maximum)11,200₹ 116,400
HNI (Minimum)22,400₹ 232,800

Promoters Holdings 

Mr. Aniket Vijay Latkar and Ms. Chitra Vijay Latkar are the promoters of the company.

Pre-issue Shares Holdings100%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationSaakshi Medtech and Panels Limited
Plot No. EL-23, J Block, MIDC Industrial Area, Bhosari, Pune- 411026
Phone: +91- 02039854400
Email: [email protected]
Website: https://www.smtpl.co/index.html
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/ipo_status.html
IPO Lead Manager(s)Hem Securities Limited

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