Frog Cellsat was incorporated on July 12, 2004. The company is engaged in the manufacturing of telecom equipment used by telecom operators, especially in telecom towers. It manufactures 2G/3G/4G multi-band digital RF repeaters, multi-band frequency shift repeaters, multi-band optical DAS systems, relative software, and accessories.
| Bidding Dates |
|---|
| 29 Sep 2022 - 04 Oct 2022 |
| Subscription |
|---|
| 21.06x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,22,400 | 1 | 1 | 1200 | 4.1 M | ₹97 - ₹102 | 73.49 % | ₹395.3 M - ₹415.7 M | RHP DOC |
Frog Cellsat IPO SUBSCRIPTION STATUS
04 Oct '22Frog Cellsat IPO overall subscription rate was 21.06 times the total available shares
Frog Cellsat IPO retail subscription rate was 22.1 times in the retail segment
Frog Cellsat IPO non-institutional investor subscription rate was 70.94 times in the non-institutional investor category
Frog Cellsat IPO Qualified Institutional Bidder subscription rate was 5.36 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
04 Oct 2022 (Day 4) | 22.1x | 70.94x | 5.36x |
03 Oct 2022 (Day 3) | 3.03x | 0.86x | 0x |
30 Sep 2022 (Day 2) | 0.45x | 0.43x | 0x |
29 Sep 2022 (Day 1) | 0.16x | 0.02x | 0x |
Frog Cellsat FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY22 | 143.4 | 1,329.4 | 142.9 | 49.2 |
| FY21 | 14.3 | 1,209.2 | 69.6 | 84.7 |
| FY20 | 13.9 | 870.2 | 109.9 | 108.5 |
Frog Cellsat IPO SUBSCRIPTION STATUS DETAILS
Frog Cellsat had 4.1 M shares on offer
Frog Cellsat IPO offer price was in the range ₹97 - ₹102
Frog Cellsat IPO minimum Investment was ₹122400
Frog Cellsat IPO issue size was ₹ 395.3 M - ₹ 415.7 M
Frog Cellsat had a minimum lot size of 1200 Shares per application
Frog Cellsat NUMBER OF SHARES ON OFFER
Frog Cellsat IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2022 |
| Issue close Date | 04 Oct 2022 |
| Allotment Date | 10 Oct 2022 |
| Refund Date | 11 Oct 2022 |
| Demat Account Credit Date | 12 Oct 2022 |
| Listing Date | 13 Oct 2022 |
| Listing on Exchange(s) | NSE |
| Frog Cellsat Allotment Status | Exchange |
Frog Cellsat IPO subscription opened on 29 Sep 2022, and closed on 04 Oct 2022
IPO allotment for Frog Cellsat was finalized on Monday, 10 Oct 2022
IPO listing for Frog Cellsat was on NSE on Thursday, 13 Oct 2022
Frog Cellsat IPO LISTING GAINS
| Issue Price (adjusted) | 102.0 |
| Listing Open Price | 177.0 |
| Listing Close Price | 185.8 |
| Listing Gain% | 73.5% |
| Current Gain% | 110.0% |
Frog Cellsat Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Frog Innovations Ltd. | 214.2 | 329.3 | -212.8 | 2 | 3 | -1 | -0.8 | 109.5 | -50.7 | -1.6 | -106.6 | -1 | -106.6 |
| ITI Ltd. | 282.4 | 27135.4 | 117 | 0.6 | 12.4 | 15.4 | 3.1 | 2237.1 | -39.6 | 292.8 | 236.3 | 2.4 | 207.9 |
| Tejas Networks Ltd. | 513.4 | 9138.1 | -10 | 0 | 7 | -31 | -9.7 | 1136.7 | -87.3 | -908.9 | -303.5 | -51.5 | -623.6 |
| Optiemus Infracom Ltd. | 562.1 | 5058.9 | 69.6 | 6.6 | 2.3 | 8.5 | 3.6 | 1794.6 | -5.9 | 66 | 4.2 | 8.1 | 10.6 |
| Avantel Ltd. | 163.4 | 4342.5 | 252.8 | -3.8 | 18 | 4.4 | 3.6 | 225.3 | -10.2 | 15 | -73.4 | 0.6 | -67.1 |
| GTL Infrastructure Ltd. | 1.2 | 1588.4 | 1.5 | 0 | 1.2 | -14.9 | 24.9 | 1419.1 | 3.9 | 779.3 | 189 | 0.8 | 219.4 |
Frog Cellsat INFORMATION ON IPO ISSUE
About Frog Cellsat
Frog Cellsat was incorporated on July 12, 2004. The company is engaged in the manufacturing of telecom equipment used by telecom operators, especially in telecom towers. It manufactures 2G/3G/4G multi-band digital RF repeaters, multi-band frequency shift repeaters, multi-band optical DAS systems, relative software, and accessories.
Object of the Issue
- To part finance the expansion project
- General corporate purposes
- Issue expenses
Frog Cellsat - PROMOTERS
| Name |
|---|
| Konark Trivedi |
| Star Private Trust |
Frog Cellsat Lead Manager of the Issue
Sarthi Capital Advisors Private Limited
compliance@sarthiwm.in
Frog Cellsat Registrar to the issue
Skyline Financial Services Limited
compliances@skylinerta.com
Frog Cellsat Strengths
Experienced promoters and management
CEO, Konark Trivedi is an engineer by qualification. He holds an experience of more than 25 years in the same industry.
Quality standards certified
The company is ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified and it has deployed state of art technology and infrastructure.
In house R&D facility
The company's research and development centre is well equipped with all the advanced testing and measuring instruments/standards and test set-ups from keysight technologies, Rohde and Schwarz.
Frog Cellsat Risks
Dependent on one customer
The company materially relied on a single customer for revenues from operations for FY22, FY21, and FY20.
Legal proceedings
The company, its promoters, its directors, group companies, and subsidiaries are involved in a certain legal proceeding(s).
Negative cash flows
The company had negative cash flows from investing activities as well as financing activities in some of the previous year(s).
IPO FAQs
The promoters of the company are Konark Trivedi and Star Private Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 97.0 - 102.0.
The IPO application opens on Sep 29, 2022 and closes on Oct 04, 2022.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 122,400.0, the maximum value for this IPO is Rs 122,400.0.
This IPO will be allotted on Oct 10, 2022.
The refund will be credited to your account on Oct 11, 2022.
The allotted shares will be credited to your demat on Oct 12, 2022.
Frog Cellsat Ltd.’s shares listed on the stock exchanges on Oct 13, 2022.