Shri Techtex IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Shri Techtex IPO will open on July 26 and close on July 28, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 45.14 crores through this public offering, consisting of 74 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 54 to ₹ 61 per share.
Shri Techtex Limited (“the Company”)
Shri Techtex Limited was incorporated in 2018. The company is engaged in the business of manufacturing polypropylene (PP) Non-Woven Fabric.
The company manufactures PP non-woven fabric in a variety of sizes and densities. As of the date of this Draft Red Herring Prospectus, they manufacture PP non-woven fabric up to 4.5 meters in size and 15 GSM to 800 GSM.
In the last 3 years, we have derived our revenue from exports from countries such as the USA, Taiwan, Canada, Denmark, and China.
The company’s manufacturing facility is situated at Simaj of Dholka Taluka in Ahmedabad District of Gujarat.
In order to improve own product portfolio, the company is planning an expansion through this Issue by adding new products such as PP Tufted Fabric, commonly known as Artificial Grass, and PP Multifilament Yarns. The company is in the process of importing specialized machinery for manufacturing the said new products and expects both machines to be ready for commercial production by October 2023. The machines will have the installed capacity to manufacture 1200 tons per year for the PP Multifilament and 30 lakh Sq meters per year for the PP Tufted Fabric (Artificial Grass).
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Construction of a factory shed,
- Commissioning of the solar plant,
- Purchase of machines,
- To meet working capital requirements,
- General corporate purpose and to meet public issue expenses.
Financial Highlights (Restated)
| Particulars | For the period ended on 30th Nov. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 2,686 | 2,099 | 2,076 | 808 |
| Total Assets | 6,031 | 5,282 | 4,652 | 1,767 |
| Reserve & Surplus | 2,083 | 1,876 | 1,854 | 588 |
| Total Borrowings | 2,934 | 2,452 | 1,499 | 488 |
| Total Revenue | 3,626 | 5,182 | 4,022 | 1,626 |
| Profit After Tax | 607 | 827 | 1,266 | 447 |
IPO details
As per the DRHP filed with SEBI, 74 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 54 to ₹ 61 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 2,000 shares |
| Issue Size | 7,400,000 shares (aggregating up to ₹ 45.14 crores) |
| Fresh Issue | 7,400,000 shares (aggregating up to ₹ 45.14 crores) |
| Listing At | NSE SME |
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: Shri Techtex 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: Shri Techtex IPO
The issue opens for subscription on July 26, 2023, and closes for subscription on July 28, 2023 (both days inclusive). The basis of allotment will be finalised on August 2, 2023, and the refunds will be initiated on August 3, 2023. In addition, the demat credits are expected to happen on August 4, 2023, and the stock will be listed on the NSE SME on August 7, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | July 26, 2023, |
| Closing Date | July 28, 2023 |
| Basis of Allotment | August 2, 2023 |
| Initiation of Refunds | August 3, 2023 |
| A credit of shares to Demat A/c | August 4, 2023 |
| Listing Date | August 7, 2023 |
Lot Size
The lot size of the Shri Techtex IPO is 2,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 2,000 shares of ₹ 122,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 2,000 | ₹ 122,000 |
| Retail (Maximum) | 1 | 2,000 | ₹ 122,000 |
| HNI (Minimum) | 2 | 4,000 | ₹ 244,000 |
Promoters Holdings
Mr. Hanskumar Ramakant Agarwal and Mrs. Shradha Hanskumar Agarwal 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 | Shri Techtex Limited Harmony, 2nd Floor,15/A, Shree Vidhyanagar Co.Op. Hsg. Soc. Ltd. Opp. Nabard, Nr. Usmanpura Garden Ahmedabad – 380014 Phone: +91 78741 32777 Email: cs@shritechtex.co.in Website: https://shritechtex.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: shritechtex.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | Beeline Capital Advisors Pvt Ltd |
FAQs
What is Shri Techtex’ IPO price?
The Shri Techtex IPO price is ₹ 54 to ₹ 61 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Shri Techtex IPO contains 2,000 shares of ₹ 122,000.
When will the Shri Techtex IPO allotment be available?
The finalisation of the basis of allotment for the Shri Techtex IPO will be done on August 2, 2023, and the allotted shares will be credited to your demat account by August 4, 2023. Check the Shri Techtex IPO allotment status.
When will the Shri Techtex IPO list on exchanges?
The Shri Techtex IPO shares listing date is August 7, 2023.
How many Shri Techtex IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.
