Shri Techtex is engaged in the business of manufacturing of polypropylene non-woven fabric. The practical use of non-woven fabric is more ecological for certain applications, especially in fields and industries where disposable or single-use products are important, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, mattress & furniture covering, ecological packaging, industrial and consumer goods.
| Bidding Dates |
|---|
| 26 Jul 2023 - 28 Jul 2023 |
| Subscription |
|---|
| 138.09x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,22,000 | 1 | 1 | 2000 | 7.4 M | ₹54 - ₹61 | 70.34 % | ₹399.6 M - ₹451.4 M | RHP DOC |
Shri Techtex IPO SUBSCRIPTION STATUS
28 Jul '23Shri Techtex IPO overall subscription rate was 138.09 times the total available shares
Shri Techtex IPO retail subscription rate was 207.54 times in the retail segment
Shri Techtex IPO non-institutional investor subscription rate was 333.41 times in the non-institutional investor category
Shri Techtex IPO Qualified Institutional Bidder subscription rate was 30.88 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
28 Jul 2023 (Day 3) | 207.54x | 333.41x | 30.88x |
27 Jul 2023 (Day 2) | 62.92x | 40.06x | 6.13x |
26 Jul 2023 (Day 1) | 14.17x | 5.38x | 2.4x |
Shri Techtex 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) | Margins |
| FY23 | 91.1 | 569.2 | -76.0 | -116.8 | 22.0% |
| FY22 | 82.7 | 511.8 | 217.5 | 8.9 | 24.0% |
| FY21 | 126.6 | 394.7 | 35.5 | -105.3 | 45.8% |
Shri Techtex IPO SUBSCRIPTION STATUS DETAILS
Shri Techtex had 7.4 M shares on offer
Shri Techtex IPO offer price was in the range ₹54 - ₹61
Shri Techtex IPO minimum Investment was ₹122000
Shri Techtex IPO issue size was ₹ 399.6 M - ₹ 451.4 M
Shri Techtex had a minimum lot size of 2000 Shares per application
Shri Techtex NUMBER OF SHARES ON OFFER
Shri Techtex IPO IMPORTANT DATES
| Issue Open Date | 26 Jul 2023 |
| Issue close Date | 28 Jul 2023 |
| Allotment Date | 02 Aug 2023 |
| Refund Date | 03 Aug 2023 |
| Demat Account Credit Date | 04 Aug 2023 |
| Listing Date | 04 Aug 2023 |
| Listing on Exchange(s) | NSE |
| Shri Techtex Allotment Status | Exchange |
Shri Techtex IPO subscription opened on 26 Jul 2023, and closed on 28 Jul 2023
IPO allotment for Shri Techtex was finalized on Wednesday, 02 Aug 2023
IPO listing for Shri Techtex was on NSE on Friday, 04 Aug 2023
Shri Techtex IPO LISTING GAINS
| Issue Price (adjusted) | 61.0 |
| Listing Open Price | 81.2 |
| Listing Close Price | 85.2 |
| Listing Gain% | 33.0% |
| Current Gain% | -0.4% |
Shri Techtex 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shri Techtex Ltd. | 60.8 | 151.6 | 7.9 | 0.2 | 1.7 | 16.4 | 14.4 | 89.7 | 3.3 | 19.3 | 31.5 | 7.7 | 31.5 |
| Supreme Industries Ltd. | 3428.4 | 43549.9 | 42.2 | 2.6 | 3.8 | 15.5 | 12.2 | 11262.5 | 7.2 | 954 | -0.7 | 81.3 | 16 |
| Astral Ltd. | 1450 | 38954.3 | 72.6 | 29.7 | 5.9 | 13.2 | 9.2 | 6615.9 | 12.6 | 536.6 | 2.4 | 20 | 2.4 |
| Shaily Engineering Plastics Ltd. | 3470.8 | 15949.3 | 90.2 | 1.8 | 15.6 | 23.7 | 14.8 | 998.4 | 26.5 | 169.9 | 82.5 | 38.5 | 51.3 |
| Time Technoplast Ltd. | 208.2 | 10276.5 | 21 | 1 | 1.6 | 11.5 | 8.3 | 6114.4 | 11.9 | 468.7 | 20.8 | 9.9 | 21.3 |
| Finolex Industries Ltd. | 161.8 | 10039.3 | 16.3 | 0.3 | 2.5 | 9.6 | 7.9 | 4324.8 | -1.5 | 599 | -25.1 | 9.9 | 54.8 |
Shri Techtex INFORMATION ON IPO ISSUE
About Shri Techtex
Shri Techtex is engaged in the business of manufacturing of polypropylene non-woven fabric. The practical use of non-woven fabric is more ecological for certain applications, especially in fields and industries where disposable or single-use products are important, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, mattress & furniture covering, ecological packaging, industrial and consumer goods.
Object of the Issue
- Construction of factory shed
- Commissioning of solar plant
- Purchase of machinery
- To meet working capital requirements
- General corporate purpose, and to meet public issue expenses
Shri Techtex - PROMOTERS
| Name |
|---|
| Hanskumar Ramakant Agarwal |
| Executive Director |
Shri Techtex Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Shri Techtex Registrar to the Issue
Link Intime India Private Limited
shritechtex.ipo@linkintime.co.in
Shri Techtex Strengths
Prime location of manufacturing facility
The manufacturing facility is located at Simaj in Dholka, Ahmedabad, Gujarat. It is well-equipped with the necessary infrastructure and is strategically located. It enjoys good connectivity which makes the movements of the raw material as well as finished goods easy and comfortable
Wide application of products
The products are widely used in various applications for geotextile, horticulture, furniture, construction and healthcare, etc. This benefits from less dependency on one industry
Shri Techtex Risks
Certain litigations
The company, promoters, directors and group companies are involved in certain litigations including tax-related litigations, which if determined against them, can affect the financial conditions of the company
contingent liabilities
The company has certain contingent liabilities, which, if materialized, may affect the financial condition and results of operations
IPO FAQs
The promoters of the company are Hanskumar Ramakant Agarwal and Executive Director.
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 54.0 - 61.0.
The IPO application opens on Jul 26, 2023 and closes on Jul 28, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 122,000.0, the maximum value for this IPO is Rs 122,000.0.
This IPO will be allotted on Aug 02, 2023.
The refund will be credited to your account on Aug 03, 2023.
The allotted shares will be credited to your demat on Aug 04, 2023.
Shri Techtex Ltd.’s shares listed on the stock exchanges on Aug 04, 2023.