Chavda Infra was incorporated on October 08, 2012. It is an integrated civil construction company offering a diversified range of construction and allied services across residential, commercial and institutional projects in Gujarat. It provides services across the construction value chain, ranging from planning and design to construction and post-construction activities to clients.
| Bidding Dates |
|---|
| 12 Sep 2023 - 14 Sep 2023 |
| Subscription |
|---|
| 167.42x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,30,000 | 1 | 1 | 2000 | 6.7 M | ₹60 - ₹65 | 73 % | ₹399.4 M - ₹432.6 M | RHP DOC |
Chavda Infra IPO SUBSCRIPTION STATUS
14 Sep '23Chavda Infra IPO overall subscription rate was 167.42 times the total available shares
Chavda Infra IPO retail subscription rate was 268.3 times in the retail segment
Chavda Infra IPO non-institutional investor subscription rate was 321.73 times in the non-institutional investor category
Chavda Infra IPO Qualified Institutional Bidder subscription rate was 50.51 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Sep 2023 (Day 3) | 268.3x | 321.73x | 50.51x |
13 Sep 2023 (Day 2) | 39.83x | 13.88x | 7.36x |
12 Sep 2023 (Day 1) | 11.98x | 5.71x | 1.86x |
Chavda Infra 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 | 120.5 | 1,618.9 | 86.8 | -6.4 | 16.7% |
| FY22 | 52.1 | 1,098.2 | -91.8 | -111.8 | 14.2% |
| FY21 | 44.4 | 912.4 | 106.0 | -17.2 | 16.3% |
Chavda Infra IPO SUBSCRIPTION STATUS DETAILS
Chavda Infra had 6.7 M shares on offer
Chavda Infra IPO offer price was in the range ₹60 - ₹65
Chavda Infra IPO minimum Investment was ₹130000
Chavda Infra IPO issue size was ₹ 399.4 M - ₹ 432.6 M
Chavda Infra had a minimum lot size of 2000 Shares per application
Chavda Infra NUMBER OF SHARES ON OFFER
Chavda Infra IPO IMPORTANT DATES
| Issue Open Date | 12 Sep 2023 |
| Issue close Date | 14 Sep 2023 |
| Allotment Date | 20 Sep 2023 |
| Refund Date | 21 Sep 2023 |
| Demat Account Credit Date | 22 Sep 2023 |
| Listing Date | 25 Sep 2023 |
| Listing on Exchange(s) | NSE |
| Chavda Infra Allotment Status | Exchange |
Chavda Infra IPO subscription opened on 12 Sep 2023, and closed on 14 Sep 2023
IPO allotment for Chavda Infra was finalized on Wednesday, 20 Sep 2023
IPO listing for Chavda Infra was on NSE on Monday, 25 Sep 2023
Chavda Infra IPO LISTING GAINS
| Issue Price (adjusted) | 65.0 |
| Listing Open Price | 91.0 |
| Listing Close Price | 86.5 |
| Listing Gain% | 40.0% |
| Current Gain% | 107.8% |
Chavda Infra 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chavda Infra Ltd. | 135.1 | 333.1 | 26 | -0.7 | 1 | 7.7 | 3.4 | 322 | 22.1 | 17 | -19.4 | 5.2 | -39.2 |
| Larsen & Toubro Ltd. | 4037.4 | 568026.8 | 34.2 | 7.5 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 105.1 | 110985.4 | 632.4 | 4.4 | 7.5 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 230 | 47955.5 | 53.3 | -2.2 | 2.3 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.3 | -24.5 |
| NBCC (India) Ltd. | 93.8 | 25326 | 34.1 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.8 | 30.6 |
| Kalpataru Projects International Ltd. | 1347.7 | 23015 | 20.3 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 66.5 | 60.9 |
Chavda Infra INFORMATION ON IPO ISSUE
About Chavda Infra
Chavda Infra was incorporated on October 08, 2012. It is an integrated civil construction company offering a diversified range of construction and allied services across residential, commercial and institutional projects in Gujarat. It provides services across the construction value chain, ranging from planning and design to construction and post-construction activities to clients.
Object of the Issue
- To meet working capital requirements
- General corporate purposes
- To meet public issue expenses
Chavda Infra - PROMOTERS
| Name |
|---|
| Mahesh Gunvantlal Chavda |
| Johil Mahesh Chavda |
| Dharmistha Mahesh Chavda |
Chavda Infra Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Chavda Infra Registrar to the issue
Kfin Technologies Private Limited
chavdainfra.ipo@kfintech.com
Chavda Infra Strengths
End-to-end execution capabilities
The company's execution capabilities comprising strong in-house operations consisting of design, engineering, procurement, construction and quality assurance teams, is a critical factor for its growth story. Its track record in the construction of projects has been instrumental in the consistent performance
Robust order book
As of May 31, 2023, the company has 26 ongoing projects worth approximately Rs 60,139 lakh, suggesting a strong order book
Long-standing relationships
The company's reputation for completing projects on schedule and its commitment to quality have fostered strong relationships with its customers
Chavda Infra Risks
Geographically concentrated
The company relies entirely on revenue generated from the state of Gujarat. Any adverse developments that affect its operations in this region could potentially have a detrimental impact on the business
Dependent on few customers
The company is reliant on a number of customers for its sales. The loss of any of these significant customers has the potential to impact both revenues and profitability
Certain outstanding litigation
The company is currently involved in certain outstanding litigation, and an adverse outcome in these legal proceedings could have a detrimental impact on the business, its reputation, and its financial results
IPO FAQs
The promoters of the company are Mahesh Gunvantlal Chavda, Johil Mahesh Chavda and Dharmistha Mahesh Chavda.
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 60.0 - 65.0.
The IPO application opens on Sep 12, 2023 and closes on Sep 14, 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. 130,000.0, the maximum value for this IPO is Rs 130,000.0.
This IPO will be allotted on Sep 20, 2023.
The refund will be credited to your account on Sep 21, 2023.
The allotted shares will be credited to your demat on Sep 22, 2023.
Chavda Infra Ltd.’s shares listed on the stock exchanges on Sep 25, 2023.