Saakshi Medtech & Panels was incorporated on March 25, 2009. The company is engaged in manufacturing electrical control panels and cabinets for various industries such as elevators, air compressors, renewable energy, and oil & gas exploration. It also produces medical X-ray systems for the healthcare sector, carries out fabrication works for locomotives, and has a wire harness division for both its own electrical control panels and the air compressor industry.
| Bidding Dates |
|---|
| 25 Sep 2023 - 27 Sep 2023 |
| Subscription |
|---|
| 85.25x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,16,400 | 1 | 1 | 1200 | 4.7 M | ₹92 - ₹97 | 73.63 % | ₹428.4 M - ₹451.6 M | RHP DOC |
Saakshi Medtech IPO SUBSCRIPTION STATUS
27 Sep '23Saakshi Medtech IPO overall subscription rate was 85.25 times the total available shares
Saakshi Medtech IPO retail subscription rate was 100.75 times in the retail segment
Saakshi Medtech IPO non-institutional investor subscription rate was 267.12 times in the non-institutional investor category
Saakshi Medtech IPO Qualified Institutional Bidder subscription rate was 19.83 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Sep 2023 (Day 3) | 100.75x | 267.12x | 19.83x |
26 Sep 2023 (Day 2) | 16.61x | 7.07x | 1.07x |
25 Sep 2023 (Day 1) | 3.22x | 1.7x | 1.06x |
Saakshi Medtech 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 | 123.8 | 1220.6 | 105.3 | -5.1 | 16.6% |
| FY22 | 93.8 | 915.8 | 109.6 | 51.5 | 17.0% |
| FY21 | 22.0 | 597.7 | 2.8 | -6.3 | 9.6% |
Saakshi Medtech IPO SUBSCRIPTION STATUS DETAILS
Saakshi Medtech had 4.7 M shares on offer
Saakshi Medtech IPO offer price was in the range ₹92 - ₹97
Saakshi Medtech IPO minimum Investment was ₹116400
Saakshi Medtech IPO issue size was ₹ 428.4 M - ₹ 451.6 M
Saakshi Medtech had a minimum lot size of 1200 Shares per application
Saakshi Medtech NUMBER OF SHARES ON OFFER
Saakshi Medtech IPO IMPORTANT DATES
| Issue Open Date | 25 Sep 2023 |
| Issue close Date | 27 Sep 2023 |
| Allotment Date | 03 Oct 2023 |
| Refund Date | 03 Oct 2023 |
| Demat Account Credit Date | 03 Oct 2023 |
| Listing Date | 03 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Saakshi Medtech Allotment Status | Exchange |
Saakshi Medtech IPO subscription opened on 25 Sep 2023, and closed on 27 Sep 2023
IPO allotment for Saakshi Medtech was finalized on Tuesday, 03 Oct 2023
IPO listing for Saakshi Medtech was on NSE on Tuesday, 03 Oct 2023
Saakshi Medtech IPO LISTING GAINS
| Issue Price (adjusted) | 97.0 |
| Listing Open Price | 146.0 |
| Listing Close Price | 153.3 |
| Listing Gain% | 50.5% |
| Current Gain% | 185.7% |
Saakshi Medtech 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Saakshi Medtech & Panels Ltd. | 277.2 | 489.3 | 39.8 | 0.2 | 4.2 | 11.1 | 7.8 | 116 | 24.8 | 12.3 | 160.9 | 7 | 160.9 |
| ABB India Ltd. | 7676 | 162660.9 | 54.4 | 12 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Hitachi Energy India Ltd. | 36265 | 161641.8 | 140.5 | 1.1 | 17.6 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| Bharat Heavy Electricals Ltd. | 408.5 | 142242.3 | 58.5 | 0.1 | 4 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| Siemens Ltd. | 3917.6 | 139513.8 | 89.7 | -2.2 | 7.8 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 43.7 | -40.3 |
| CG Power and Industrial Solutions Ltd. | 879 | 138474.2 | 110.8 | 4.5 | 10.8 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
Saakshi Medtech INFORMATION ON IPO ISSUE
About Saakshi Medtech
Saakshi Medtech & Panels was incorporated on March 25, 2009. The company is engaged in manufacturing electrical control panels and cabinets for various industries such as elevators, air compressors, renewable energy, and oil & gas exploration. It also produces medical X-ray systems for the healthcare sector, carries out fabrication works for locomotives, and has a wire harness division for both its own electrical control panels and the air compressor industry.
Object of the Issue
- Funding capital expenditure towards civil construction work in the existing premises of factory unit II
- Repayment in full or in part, of certain of the company's outstanding borrowings
- Funding capital expenditure towards the installation of additional plant and machinery
- Funding to meet working capital requirements
- General corporate purpose
Saakshi Medtech - PROMOTERS
| Name |
|---|
| Aniket Vijay Latkar |
| Chitra Vijay Latkar |
Saakshi Medtech Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Saakshi Medtech Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Saakshi Medtech Strengths
Diversified range of products
The company offers a diversified product range that serves multiple sectors including healthcare, renewable energy, locomotives, elevators, air compressors, diesel generators, and electric vehicle charging stations
Quality assurance
The company holds multiple accreditations including ISO 9001-2015 for management systems, ISO 14001-2015 for environmental management, ISO 45001-2018 for occupational health and safety, and ISO 13485:2016 for quality management in the manufacturing and supply of its products
Saakshi Medtech Risks
Geographically concentrated facilities
The geographical clustering of the company's manufacturing facilities could pose risks to its operations, business, and financial stability
Certain legal proceedings
It is embroiled in various legal proceedings and potential litigations. An unfavourable outcome in any of these matters could subject the company to liabilities, penalties, or prosecutions, thereby negatively impacting its business
IPO FAQs
The promoters of the company are Aniket Vijay Latkar and Chitra Vijay Latkar.
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 92.0 - 97.0.
The IPO application opens on Sep 25, 2023 and closes on Sep 27, 2023.
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. 116,400.0, the maximum value for this IPO is Rs 116,400.0.
This IPO will be allotted on Oct 03, 2023.
The refund will be credited to your account on Oct 03, 2023.
The allotted shares will be credited to your demat on Oct 03, 2023.
Saakshi Medtech & Panels Ltd.’s shares listed on the stock exchanges on Oct 03, 2023.