Gabriel Pet Straps IPO: Gabriel Pet Straps Limited IPO Details

Gabriel Pet Straps Limited, a key player in the packaging industry, is set to launch its Initial Public Offering (IPO) with a fixed price issue of Rs 8.06 crores. The IPO will open for subscription on January 31, 2024, and close on February 2, 2024. The company aims to list on BSE SME with the tentative listing date scheduled for Wednesday, February 7, 2024.

IPO Details:

ParameterDetails
IPO NameGabriel Pet Straps IPO
IPO DateJanuary 31, 2024, to February 2, 2024
Basis of AllotmentFebruary 5, 2024
Listing DateFebruary 7, 2024
Face Value₹10 per share
Price₹101 per share
Lot Size1200 Shares
Total Issue Size798,000 shares (aggregating up to ₹8.06 Cr)
Fresh Issue798,000 shares (aggregating up to ₹8.06 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Shareholding pre-issue1,848,840
Shareholding post-issue2,646,840
Market Maker portion44,400 shares

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Gabriel Pet Straps IPO Lot Size:

Investors can bid for a minimum of 1200 shares and in multiples thereof. The minimum and maximum investment by retail investors and HNI are as follows:

ApplicationLotsSharesAmount
Retail (Min)11200₹121,200
Retail (Max)11200₹121,200
HNI (Min)22,400₹242,400

Gabriel Pet Straps IPO Promoter Holding:

The promoters of the company are Mr. Shah Jay Pareshbhai, Mr. Varasada Vimal Dayabhai, and Mr. Kavathiya Vivek Dharmendrabhai. The shareholding pre-issue is 100.00%, and post-issue, it stands at 69.84%.

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Gabriel Pet Straps IPO Objectives:

The company plans to utilize the net proceeds from the IPO for the following objectives:

  1. Repayment or prepayment, in full or in part, of borrowings availed by the company from banks, financial institutions, and non-banking financial companies.
  2. Acquisition of land.
  3. Funding of capital expenditure requirements of the company towards the setup of a Solar Power Plant.
  4. General corporate purposes.

Financial Performance:

Gabriel Pet Straps Limited witnessed remarkable financial growth, with a 54.93% increase in revenue and a staggering 1511.96% rise in profit after tax (PAT) between the financial year ending March 31, 2023, and March 31, 2022.

Period Ended15 Oct 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,067.69742.16491.96106.64
Revenue451.901,500.60968.577.70
Profit After Tax17.3051.96-3.68
Net Worth203.30249.41183.7498.19
Reserves and Surplus18.42
Total Borrowing630.91297.48273.06
Amount in ₹ Lakhs

Also Read: When Can a Company Go for IPO in India

About Gabriel Pet Straps Limited:

Founded in 2020, Gabriel Pet Straps Limited is engaged in the manufacturing and sale of Pet Straps under the brand name Gabriel, primarily used for packaging heavy materials. The company offers customized packaging solutions in various sizes and colors, catering to industries such as cotton bales, fibers, packaging, paper, waste cloth, etc.

Gabriel’s manufacturing facility is located in Rajkot, Gujarat, producing pet straps in widths ranging from 9 mm to 32 mm and thicknesses from 0.70 mm to 1.30 mm. With a distribution network in 10 states across India, the company has made its mark in the domestic market.

As of October 31, 2023, Gabriel Pet Straps Limited employed 26 people, including laborers, in its factory and office.

Registrar and Lead Manager:

The registrar for the IPO is Bigshare Services Pvt Ltd, and the lead manager is Shreni Shares Limited.

Also Read: The IPO Cycle: From Inception to Listing

IPO Timeline:

The IPO is set to follow the following tentative schedule:

  • IPO Opens: January 31, 2024
  • IPO Closes: February 2, 2024
  • Basis of Allotment: February 5, 2024
  • Initiation of Refunds: February 6, 2024
  • Credit of Shares to Demat: February 6, 2024
  • Listing Date: February 7, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on February 2, 2024

Conclusion:

Gabriel Pet Straps Limited’s IPO presents an exciting opportunity for investors to participate in the growth story of a company that has shown significant financial performance and operates in a crucial segment of the packaging industry. As always, potential investors are advised to conduct thorough research and consult financial experts before making investment decisions.

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