Indian Emulsifier was incorporated on December 5, 2020. The company is engaged in the manufacture and supply of specialty chemicals, including esters, amphoterics, phosphate esters, imidazolines, wax emulsions, SMO (sorbitan monooleate), and PIBSA (polyisobutylene succinic anhydride) emulsifiers.
| Bidding Dates |
|---|
| 13 May 2024 - 16 May 2024 |
| Subscription |
|---|
| 427.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,25,000 | 1 | 1 | 1000 | 3.2 M | ₹125 - ₹132 | 48.11 % | ₹401.4 M - ₹423.9 M | RHP DOC |
Indian Emulsifiers IPO SUBSCRIPTION STATUS
16 May '24Indian Emulsifiers IPO overall subscription rate was 427.95 times the total available shares
Indian Emulsifiers IPO retail subscription rate was 643.93 times in the retail segment
Indian Emulsifiers IPO non-institutional investor subscription rate was 1039.53 times in the non-institutional investor category
Indian Emulsifiers IPO Qualified Institutional Bidder subscription rate was 93.29 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
16 May 2024 (Day 4) | 643.93x | 1039.53x | 93.29x |
15 May 2024 (Day 3) | 230.83x | 129.02x | 0.25x |
14 May 2024 (Day 2) | 81.84x | 38.93x | 0.07x |
13 May 2024 (Day 1) | 15.34x | 8.55x | 0.02x |
Indian Emulsifiers 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 |
| 9MFY24 | 67.5 | 486.7 | -61.4 | -93.8 | 23.0% |
| FY23 | 38.9 | 411.8 | 1.9 | -39.3 | 19.1% |
| FY22 | 0.4 | 176.8 | -57.6 | -157.6 | 4.5% |
Indian Emulsifiers IPO SUBSCRIPTION STATUS DETAILS
Indian Emulsifiers had 3.2 M shares on offer
Indian Emulsifiers IPO offer price was in the range ₹125 - ₹132
Indian Emulsifiers IPO minimum Investment was ₹125000
Indian Emulsifiers IPO issue size was ₹ 401.4 M - ₹ 423.9 M
Indian Emulsifiers had a minimum lot size of 1000 Shares per application
Indian Emulsifiers NUMBER OF SHARES ON OFFER
Indian Emulsifiers IPO IMPORTANT DATES
| Issue Open Date | 13 May 2024 |
| Issue close Date | 16 May 2024 |
| Allotment Date | 17 May 2024 |
| Refund Date | 21 May 2024 |
| Demat Account Credit Date | 21 May 2024 |
| Listing Date | 22 May 2024 |
| Listing on Exchange(s) | NSE |
| Indian Emulsifiers Allotment Status | Exchange |
Indian Emulsifiers IPO subscription opened on 13 May 2024, and closed on 16 May 2024
IPO allotment for Indian Emulsifiers was finalized on Friday, 17 May 2024
IPO listing for Indian Emulsifiers was on NSE on Wednesday, 22 May 2024
Indian Emulsifiers IPO LISTING GAINS
| Issue Price (adjusted) | 132.0 |
| Listing Open Price | 430.0 |
| Listing Close Price | 451.5 |
| Listing Gain% | 225.8% |
| Current Gain% | -66.7% |
Indian Emulsifiers 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Indian Emulsifiers Ltd. | 44 | 53.7 | 5 | -0.3 | 0.3 | 11 | 6.9 | 160.2 | 56 | 16.3 | 22.3 | 8.9 | -18.5 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Indian Emulsifiers INFORMATION ON IPO ISSUE
About Indian Emulsifiers
Indian Emulsifier was incorporated on December 5, 2020. The company is engaged in the manufacture and supply of specialty chemicals, including esters, amphoterics, phosphate esters, imidazolines, wax emulsions, SMO (sorbitan monooleate), and PIBSA (polyisobutylene succinic anhydride) emulsifiers.
Object of the Issue
- Funding of capital expenditure requirements for the company, including costs related to plant and machinery, civil work, and installation.
- Funding working capital requirements of the company.
- General corporate purposes.
Indian Emulsifiers - PROMOTERS
| Name |
|---|
| Yash Tikekar |
Indian Emulsifiers Lead Manager of the Issue
Ekadrisht Capital private Limited
krunal@ekadrisht.com
Indian Emulsifiers Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
Indian Emulsifiers Strengths
In-house manufacturing
The company boasts an in-house manufacturing facility that is fully equipped with advanced machines and processes. Additionally, it has its own quality control and research & development facilities to ensure product excellence and innovation
Wide and diverse range of product offerings
The company offers a diverse portfolio of over 40 specialty chemicals and intermediates tailored for various industries, including mining, textiles, cleaning, PVC (Poly Vinyl Chloride)/rubber, personal care, food, and others
Scalable business model
The company operates a scalable business model that is customer-centric and order-driven. It focuses on the optimum utilization of existing resources, ensuring quality supply, and achieving economies of scale. This approach allows the company to efficiently scale operations in response to customer demands while maintaining high standards of quality
Indian Emulsifiers Risks
Outstanding litigation
The company is involved in certain outstanding litigation, and an adverse outcome in these proceedings could negatively affect the business, its reputation, and its results of operations
Limited operating history
The company was incorporated in December 5, 2020, thus it has limited operating history. This may make it difficult for investors to evaluate its historical performance or future prospects
Highly competitive industry
The company operates in a highly competitive industry. Any inability to compete effectively may lead to a lower market share or reduced operating margins.
IPO FAQs
The promoter of the company is Yash Tikekar.
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 125.0 - 132.0.
The IPO application opens on May 13, 2024 and closes on May 16, 2024.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 125,000.0, the maximum value for this IPO is Rs 132,000.0.
This IPO will be allotted on May 17, 2024.
The refund will be credited to your account on May 21, 2024.
The allotted shares will be credited to your demat on May 21, 2024.
Indian Emulsifier Ltd.’s shares listed on the stock exchanges on May 22, 2024.