Pratham EPC Projects was incorporated on October 27, 2014. It is an integrated engineering, procurement, construction, and commissioning company, serving as an end-to-end service provider to oil & gas distribution companies in India.
| Bidding Dates |
|---|
| 11 Mar 2024 - 13 Mar 2024 |
| Subscription |
|---|
| 166.13x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,13,600 | 1 | 1 | 1600 | 4.8 M | ₹71 - ₹75 | 72.97 % | ₹340.8 M - ₹360.0 M | RHP DOC |
Pratham EPC Projects IPO SUBSCRIPTION STATUS
13 Mar '24Pratham EPC Projects IPO overall subscription rate was 166.13 times the total available shares
Pratham EPC Projects IPO retail subscription rate was 238.48 times in the retail segment
Pratham EPC Projects IPO non-institutional investor subscription rate was 426.64 times in the non-institutional investor category
Pratham EPC Projects IPO Qualified Institutional Bidder subscription rate was 37.33 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
13 Mar 2024 (Day 3) | 238.48x | 426.64x | 37.33x |
12 Mar 2024 (Day 2) | 97.74x | 69.95x | 0.72x |
11 Mar 2024 (Day 1) | 28.06x | 13.79x | 0.01x |
Pratham EPC Projects 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 |
| 6MFY24 | 52.4 | 347.8 | -39.2 | -51.8 | 19.8% |
| FY23 | 76.5 | 502.0 | -76.1 | -113.2 | 20.2% |
| FY22 | 44.2 | 504.7 | 104.1 | 86.8 | 13.0% |
Pratham EPC Projects IPO SUBSCRIPTION STATUS DETAILS
Pratham EPC Projects had 4.8 M shares on offer
Pratham EPC Projects IPO offer price was in the range ₹71 - ₹75
Pratham EPC Projects IPO minimum Investment was ₹113600
Pratham EPC Projects IPO issue size was ₹ 340.8 M - ₹ 360.0 M
Pratham EPC Projects had a minimum lot size of 1600 Shares per application
Pratham EPC Projects NUMBER OF SHARES ON OFFER
Pratham EPC Projects IPO IMPORTANT DATES
| Issue Open Date | 11 Mar 2024 |
| Issue close Date | 13 Mar 2024 |
| Allotment Date | 14 Mar 2024 |
| Refund Date | 15 Mar 2024 |
| Demat Account Credit Date | 15 Mar 2024 |
| Listing Date | 18 Mar 2024 |
| Listing on Exchange(s) | NSE |
| Pratham EPC Projects Allotment Status | Exchange |
Pratham EPC Projects IPO subscription opened on 11 Mar 2024, and closed on 13 Mar 2024
IPO allotment for Pratham EPC Projects was finalized on Thursday, 14 Mar 2024
IPO listing for Pratham EPC Projects was on NSE on Monday, 18 Mar 2024
Pratham EPC Projects IPO LISTING GAINS
| Issue Price (adjusted) | 75.0 |
| Listing Open Price | 113.3 |
| Listing Close Price | 119.0 |
| Listing Gain% | 51.1% |
| Current Gain% | 60.0% |
Pratham EPC Projects 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pratham EPC Projects Ltd. | 120 | 213.1 | 35.5 | -0.6 | 1.5 | 6.8 | 3.1 | 143.3 | 16.7 | 6.2 | -55.3 | 3.4 | -56.4 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Pratham EPC Projects INFORMATION ON IPO ISSUE
About Pratham EPC Projects
Pratham EPC Projects was incorporated on October 27, 2014. It is an integrated engineering, procurement, construction, and commissioning company, serving as an end-to-end service provider to oil & gas distribution companies in India.
Object of the Issue
- Purchase of machinery
- To meet working capital requirements
- General corporate purpose
Pratham EPC Projects - PROMOTERS
| Name |
|---|
| Nayankumar Manubhai Pansuriya |
| Pratikkumar Maganlal Vekariya |
Pratham EPC Projects Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
Pratham EPC Projects Registrar to the Issue
Link Intime India Private Limited
vrinfraspace.ipo@linkintime.co.in
Pratham EPC Projects Strengths
End-to-end execution capabilities
The company's execution capabilities, featuring robust in-house operations including design, engineering, procurement, construction, and quality assurance teams, have been a critical factor contributing to its growth story
Robust order book
As of February 23, 2024, the company has eight major ongoing projects. Out of these, seven projects worth approximately Rs 296.7 crore have been confirmed, with project execution worth Rs 240.2 crore pending, and one project has been finalized with a purchase order worth approximately Rs 406.7 crore
Long-standing relationships
The company's reputation for completing projects on time and its focus on quality have helped it build strong relationships with customers
Pratham EPC Projects Risks
Tax proceedings
The company is involved in tax proceedings and actions by a statutory authority, currently pending at various stages. Any adverse decision in these proceedings may render it liable to various penalties
Dependent on few customers
The company is dependent on a few customers for sales. The loss of any of these large customers may affect its revenues and profitability
Negative cash flows
The company has experienced negative cash flows from operations in the recent past and may continue to have negative cash flows in the future
IPO FAQs
The promoters of the company are Nayankumar Manubhai Pansuriya and Pratikkumar Maganlal Vekariya.
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 71.0 - 75.0.
The IPO application opens on Mar 11, 2024 and closes on Mar 13, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 113,600.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Mar 14, 2024.
The refund will be credited to your account on Mar 15, 2024.
The allotted shares will be credited to your demat on Mar 15, 2024.
Pratham EPC Projects Ltd.’s shares listed on the stock exchanges on Mar 18, 2024.