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Shri Techtex IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Construction of a factory shed,
  2. Commissioning of the solar plant,
  3. Purchase of machines,
  4. To meet working capital requirements,
  5. General corporate purpose and to meet public issue expenses.

Financial Highlights (Restated)

ParticularsFor the period ended on 30th Nov. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth2,6862,0992,076808
Total Assets6,0315,2824,6521,767
Reserve & Surplus2,0831,8761,854588
Total Borrowings2,9342,4521,499488
Total Revenue3,6265,1824,0221,626
Profit After Tax6078271,266447
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 54 to ₹ 61 per share
Face Value₹ 10 per share
Market Lot2,000 shares
Issue Size7,400,000 shares (aggregating up to ₹ 45.14 crores)
Fresh Issue7,400,000 shares (aggregating up to ₹ 45.14 crores)
Listing AtNSE SME

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: 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 DateJuly 26, 2023,
Closing DateJuly 28, 2023
Basis of AllotmentAugust 2, 2023
Initiation of RefundsAugust 3, 2023
A credit of shares to Demat A/cAugust 4, 2023
Listing DateAugust 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)12,000₹ 122,000
Retail (Maximum)12,000₹ 122,000
HNI (Minimum)24,000₹ 244,000

Promoters Holdings 

Mr. Hanskumar Ramakant Agarwal and Mrs. Shradha Hanskumar Agarwal are the promoters of the company.

Pre-issue Shares Holdings100%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationShri 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: [email protected]
Website: https://shritechtex.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/
IPO Lead Manager(s)Beeline Capital Advisors Pvt Ltd

FAQs

The Shri Techtex IPO price is ₹ 54 to ₹ 61 per share.

The minimum investment size is one lot for retail investors. One lot of the Shri Techtex IPO contains 2,000 shares of ₹ 122,000.

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.

The Shri Techtex IPO shares listing date is August 7, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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