Shree Marutinandan Tubes IPO: Shree Marutinandan Tubes Limited IPO Details

Shree Marutinandan Tubes Limited, a company incorporated in 2013, is set to make its mark on the stock market with its initial public offering (IPO) of Rs 14.30 crores. This fixed price issue comprises a fresh offering of 10 lakh shares. The IPO subscription period opened on January 12, 2024, and will conclude on January 16, 2024, with the listing on BSE SME expected by January 19, 2024.

IPO Details

Here is a snapshot of the key details:

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ParameterDetails
IPO DateJanuary 12, 2024, to January 16, 2024
Basis of AllotmentJanuary 17, 2024
Listing DateJanuary 19, 2024
Face Value₹10 per share
Price₹143 per share
Lot Size1000 Shares
Total Issue Size1,000,000 shares (₹14.30 Cr)
Fresh Issue1,000,000 shares (₹14.30 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Shareholding Pre-Issue2,460,000
Shareholding Post-Issue3,460,000
Market Maker Portion50,000 shares

Also See: Upcoming IPO in India

IPO Reservation

The IPO offers 1,000,000 shares, with 47.50% allocated to Non-Institutional Investors (NII), 47.50% to Retail Individual Investors (RII), and 5.00% to Market Makers.

Lot Size

Investors can bid for a minimum of 1000 shares and in multiples thereof. Retail investors need a minimum investment of ₹143,000, while HNIs must invest in 2 lots (2,000 shares), amounting to ₹286,000.

ApplicationLotsSharesAmount
Retail (Min)11000₹143,000
Retail (Max)11000₹143,000
HNI (Min)22,000₹286,000

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Promoter Holding

The promoters, Mr. Vikram Shivratan Sharma, Mr. Bharat Shivratan Sharma, and Mrs. Kusumlata Shivratan Sharma, currently hold 82.00% of the company’s shares. Post the IPO, their shareholding will reduce to 58.30%.

Objectives of the IPO

The fresh issue proceeds will be utilized for incremental working capital requirements, general corporate purposes, and to cover public issue expenses.

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

Financial Performance

As of March 31, 2023, Shree Marutinandan Tubes Limited witnessed a 0.09% increase in revenue and an astonishing 3257.07% rise in profit after tax (PAT) compared to the previous fiscal year ending on March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets2,234.291,617.601,284.831,301.03
Revenue4,284.644,722.584,718.493,597.28
Profit After Tax141.99201.766.0113.30
Net Worth409.70267.7465.9859.98
Reserves and Surplus163.73247.2445.4839.48
Total Borrowing607.28716.90688.89795.31
Amount in ₹ Lakhs

Also Read: Ratan Tata to Fully Divest Stake in FirstCry Parent Company Ahead of IPO

About Shree Marutinandan Tubes Limited

Specializing in Galvanized Tubes, Electrical Resistance Welded Mild Steel Tubes (ERW MS), and Black Tubes, Shree Marutinandan Tubes caters to diverse sectors such as Agriculture, Oil, Solar Energy, Healthcare, Housing, Irrigation, and Engineering. The company collaborates with Shree Kamdhenu Machinery Private Limited for manufacturing products according to customer specifications.

The product range includes potato harvesters, grading machines, hoppers, peanut destoners, tube winders, and rotavators. With 14 employees as of December 25, 2023, the company has established itself as a player in the industry.

Key Performance Indicators (KPI)

The market capitalization of Shree Marutinandan Tubes IPO stands at Rs 49.48 Cr, with the following KPIs:

  • Return on Equity (ROE): 120.91%
  • Return on Capital Employed (ROCE): 78.52%
  • Debt/Equity: 2.68
  • Return on Net Worth (RoNW): 75.36%
  • Price to Book Value (P/BV): 1.09

Registrar and Lead Manager(s)

Bigshare Services Pvt Ltd is the registrar for the IPO, and Swastika Investmart Ltd is the lead manager.

IPO Timeline

The IPO timeline is as follows:

  • IPO Opens: January 12, 2024
  • IPO Closes: January 16, 2024
  • Basis of Allotment: January 17, 2024
  • Refunds Initiation: January 18, 2024
  • Credit of Shares to Demat: January 18, 2024
  • Listing Date: January 19, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on January 16, 2024

Conclusion

Shree Marutinandan Tubes IPO offers investors an opportunity to be part of a company showing robust financials and a diverse product range. As with any investment, potential investors are advised to conduct thorough research and consult with financial experts before making decisions. The IPO’s success will be revealed on its listing date, marking a significant milestone for the company in the stock market.

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