IPO Details
Bidding Dates
08 Apr '24 - 10 Apr '24
Minimum Investment
₹ 1,33,200 / 1 Lot ( 1600 Shares )
Price Range
₹111
Maximum Investment
₹ 1,33,200 / 1 Lot ( 1600 Shares )
Retail Discount
To be announced
Issue Size
₹44.40 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Apr 8, 2024
Closing Date
Apr 10, 2024
Basis of Allotment
Apr 12, 2024
Initiation of Refunds
Apr 15, 2024
Credit of Shares to Demat
Apr 15, 2024
Listing Date
Apr 16, 2024
Cut-off time for UPI mandate confirmation
Apr 10, 2024
IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Apr 8, 2024 |
2.23x | 2.16x | 2.19x |
Day 2Apr 9, 2024 |
4.73x | 5.49x | 5.11x |
Day 3Apr 10, 2024 |
96.97x | 41.76x | 74.17x |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 96.97 |
| Retail Investors | 41.76 |
| Total | 74.17 |
About Teerth Gopicon Ltd
Teerth Gopicon Limited, established in 2019, specializes in infrastructure projects including road construction and the development of sewerage and water supply systems in Madhya Pradesh. The firm has also engaged in residential construction, notably completing a tower in Indore as a subcontractor.
The organization is a certified contractor for several central and state government bodies such as ISCDL, IMC, USCL, UMC, and MPJNM, and has executed a variety of projects in the private sector as well.
Its portfolio encompasses a diverse array of civil engineering projects, including the construction of buildings, water supply systems, pipelines, sewage networks, sewage treatment plants, Nalla taps, reuse networks, overhead tanks, GSR, road construction, and lake rehabilitation.
As of February 29, 2024, Teerth Gopicon Limited employed 164 permanent staff across different departments, including workmen.
Industry Outlook
- The National Infrastructure Pipeline (NIP) now includes 9,142 projects, with 2,476 in the development phase requiring an investment of US$ 1.9 trillion. Significant efforts are focused on the transportation sector, especially roads and bridges.
- The Indian government has raised the infrastructure capital investment for 2023-24 to ₹10 lakh crore (US$ 122 billion), a 33% increase, with a record ₹2.40 lakh crore (US$ 29 billion) dedicated to the Railways, indicating a strong commitment to enhancing national infrastructure.
Teerth Gopicon Ltd IPO Details
Teerth Gopicon Ltd IPO Dates
Teerth Gopicon IPO is open from April 8, 2024, to April 10, 2024. The IPO will be listed on NSE Emerge.
Teerth Gopicon Ltd IPO Price Band
Teerth Gopicon is a fixed price issue. The price band is set at ₹111 per share.
Teerth Gopicon Ltd IPO Lot Size
The lot size for Teerth Gopicon Limited’s IPO is 2,000 shares with a minimum investment of ₹1,33,200.
Teerth Gopicon Ltd IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of working capital requirements of the Company
- General Corporate Expenses
Peer Details
The following are the listed peers of Teerth Gopicon:
- Man Infraconstruction Limited
- ITD Cementation India Limited
- Likhitha Infrastructure Limited
- Udayshivakumar Infra Limited
How To Check the Allotment Status of the Teerth Gopicon Ltd IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Teerth Gopicon Ltd
Registered office: 703, Sapath Complex-I, Opp. Rajpath Club, Near Madhur Hotel, Bodakdev, Ahmedabad-380054, Gujarat, India
Phone: +91 9979840806
E-mail: investor@teerthgopicon.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Income (in ₹ lakh) | 3,741.78 | 3,914.87 | 3,120.77 | 4,620.74 |
| Profit After Tax (PAT) (in ₹ lakh) | 339.52 | 179.22 | 15.27 | 46.45 |
| Cash & Cash Equivalents (in ₹ lakh) | 215.68 | 532.87 | 216.53 | 261.38 |
| Net Worth (in ₹ lakh) | 1,128.23 | 788.70 | 609.49 | 594.22 |
| Debt to Equity Ratio(x) | 0.48 | 0.43 | 2.24 | 1.57 |
| Return on Equity (%) | 30.09% | 22.72% | 2.50% | 7.82% |
| Return on Net Worth (RoNW) (%) | 30.09% | 22.72% | 2.50% | 7.82% |
| Earning Per Share (EPS)-in absolute ₹ | 6.79 | 3.58 | 0.31 | 1.50 |
Know before investing
Strengths
3-
Teerth Gopicon Limited excels in efficiently managing and completing a wide range of infrastructure projects on time and within budget. Led by Maheshbhai Khumbhani, the team's extensive industry experience positions the company for future growth and market expansion.
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The company has a strong presence in Madhya Pradesh, completing several critical projects under the Smart Cities Mission and Jal Jeevan Mission. This includes four major projects in Indore and three significant water supply schemes, showcasing its capability and trustworthiness in crucial development sectors.
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Teerth Gopicon Limited has invested ₹248.03 lacs in essential plant and machinery up to September 2023, enhancing its self-reliance and reducing external dependencies. This investment facilitates timely project delivery and minimises contractual risks, underlining the company's commitment to leveraging technology for operational efficiency.
Risks
3-
Teerth Gopicon Limited's operations are exclusively in Madhya Pradesh, relying entirely on state government, local authority projects, and associated entities for revenue. This concentration could lead to significant business impact due to regional economic, political, or regulatory changes.
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The company's registered office in Ahmedabad and corporate office in Indore are leased from related parties with agreements due to expire in November 2026 and November 2026 respectively. Non-renewal could disrupt operations and impact profitability and brand image.
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A large portion of revenue is derived from a limited number of clients, with 100% of FY2023 revenue from just five clients. Loss or reduction in business from any key client could significantly affect financial stability and future revenue streams.
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Teerth Gopicon Ltd IPO FAQs
Teerth Gopicon IPO is a book-built IPO. The IPO will be open from April 8, 2024 to April 10, 2024.
The Basis of Allotment will happen on Monday, April 15, 2024.
The IPO subscription window will open on April 8, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 2000 shares.
The listing date for Teerth Gopicon is Friday, April 16, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be 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.
