IPO Details
Bidding Dates
26 Jul '23 - 28 Jul '23
Minimum Investment
₹122,000 / 1 Lots ( 2000 Shares )
Price Range
₹54 - ₹61
Maximum Investment
₹122,000 / 1 Lots ( 2000 Shares )
Retail Discount
Not Applicable
Issue Size
45.14 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 26, 2023
IPO Closing Date
Jul 28, 2023
Basis of Allotment
Aug 2, 2023
Initiation of Refunds
Aug 3, 2023
Credit of Shares to Demat Account
Aug 4, 2023
IPO Listing Date
Aug 7, 2023
UPI mandate confirmation
Jul 28, 2023
Shri Techtex IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Jul 26, 2023 |
4.50 | 3.73 | 11.18 | 7.67 |
Day 2Jul 27, 2023 |
11.53 | 29.91 | 48.29 | 33.83 |
Shri Techtex IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 11.53 |
| Non-Institutional Buyers | 29.91 |
| Retail Investors | 48.29 |
| Total | 33.83 |
About Shri Techtex Ltd.
Shri Techtex was incorporated in 2011 and is involved in the manufacturing of Polypropylene (PP) Non-Woven Fabric. They have a manufacturing facility situated at Simaj of Dholka Taluka in Ahmedabad, Gujarat.
Since FY 2011, as a partnership firm, Shri Techtex were involved in the industrial trading activity in chemicals, packaging materials, polymers, and other allied products. Later upon conversion of the Partnership Firm to a company, Shri Techtex continued manufacturing on a job-work basis. However, as a result of demerger w.e.f. April 01, 2021, the business of contract manufacturing was transferred to the resultant company Aurum Fabritech Private Limited. After the demerger, to date, the company is in the business of manufacturing Polypropylene (PP) Non-Woven Fabric.
Shri Techtex Limited IPO Details
Shri Techtex is a 100% fresh IPO worth ₹45.14 crore. The issue comprises 74,00,000 shares and is priced at ₹54 - ₹61 per share. Retail investors can bid for the Shri Techtex Limited IPO, which will open on July 26, 2023. Shri Techtex Limited’s IPO will list on the NSE exchange on August 7, 2023.
Shri Techtex Limited IPO Objectives
The objectives of Shri Techtex Limited's IPO are listed below:
- To fund the construction of the factory shed
- To purchase machinery
- For the commissioning of the solar plant
- To meet the working capital requirements of the company
- To meet the general corporate purposes
- To meet the public issue expenses
Noteworthy Highlights of Shri Techtex Ltd
- In the last 3 years, Shri Techtex Ltd derived its primary revenue from exports from the USA, Canada, Taiwan, China and Denmark. And their domestic sales are primarily from West Bengal, Tamil Nadu and Gujarat.
- Shri Techtex is in plans for expansion by adding new business lines like manufacturing of Hot melt Coating Lamination and PP Multifilament Yarn. And these new machinery are expected to be ready by April 2024.
Peer Details
Garware Technical Fibers Limited and Shubham Polyspin Limited are a few of Shri Techtex’s listed peers in the market.
Shri Techtex Ltd. Financials
| Particulars | Period ending on March 31, 2023 (₹ in lakh) | Period ending on March 31, 2022 (₹ in lakh) | Period ending on March 31, 2021 (₹ in lakh) |
|---|---|---|---|
| Revenue from Operations | 5,692.39 | 5,117.63 | 3,946.76 |
| Profit After Tax (PAT) | 910.63 | 826.56 | 1,265.68 |
| Total Income | 5,807.58 | 5,182.15 | 4,021.58 |
| Debt to Equity (in times) | 1.07 | 1.17 | 0.72 |
Know before investing
Strengths
2-
The revenue of the company increased from ₹3,946.76 on March 31, 2021, to ₹5,692.39 on March 31, 2023.
-
The gross profit of the company is ₹2,086.39 on March 31, 2023, which is high compared to its listed peer Shubham Polyspin Limited’s gross profit ₹901.78 during the same period.
Risks
2-
The PAT of the company dropped from ₹1,265.68 on March 31, 2021, to ₹910.63 on March 31, 2023.
-
The company doesn’t hold any long-term contracts with any of the clients/customers that can guarantee business.
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Shri Techtex Ltd IPO FAQs
The Shri Techtex Ltd IPO contains 100% fresh IPO worth ₹45.14 crore. The issue comprises 74,00,000 shares and is priced at ₹54 – ₹61 per share. The IPO will open on July 26, 2023.
The Basis of Allotment will happen on Wednesday, August 2, 2023.
The IPO subscription window will open on July 26 2023.
Retail investors can apply for a minimum of one lot, which consists of 2,000 shares.
Shri Techtex Ltd IPO will list on the NSE exchange on Monday, August 7, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Monday, August 7, 2023, for Shri Techtex Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
