Esprit Stones was incorporated on October 19, 2016. The company is primarily engaged in the manufacturing of engineered stones such as engineered quartz surfaces and engineered marble surfaces.
| Bidding Dates |
|---|
| 26 Jul 2024 - 30 Jul 2024 |
| Subscription |
|---|
| 172.98x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,31,200 | 1 | 1 | 1600 | 5.8 M | ₹82 - ₹87 | 73.59 % | ₹475.2 M - ₹504.2 M | RHP DOC |
Esprit Stones IPO SUBSCRIPTION STATUS
30 Jul '24Esprit Stones IPO overall subscription rate was 172.98 times the total available shares
Esprit Stones IPO retail subscription rate was 187.42 times in the retail segment
Esprit Stones IPO non-institutional investor subscription rate was 514.3 times in the non-institutional investor category
Esprit Stones IPO Qualified Institutional Bidder subscription rate was 60.48 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
30 Jul 2024 (Day 3) | 187.42x | 514.3x | 60.48x |
29 Jul 2024 (Day 2) | 34.56x | 20.58x | 1.8x |
26 Jul 2024 (Day 1) | 4.55x | 1.87x | 0x |
Esprit Stones 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 |
| FY24 | 103.2 | 2,728.9 | 142.3 | 36.4 | 12.2% |
| FY23 | 35.6 | 1,744.1 | -285.2 | -648.8 | 10.9% |
| FY22 | 185.1 | 1,864.6 | 203.9 | -105.9 | 17.8% |
Esprit Stones IPO SUBSCRIPTION STATUS DETAILS
Esprit Stones had 5.8 M shares on offer
Esprit Stones IPO offer price was in the range ₹82 - ₹87
Esprit Stones IPO minimum Investment was ₹131200
Esprit Stones IPO issue size was ₹ 475.2 M - ₹ 504.2 M
Esprit Stones had a minimum lot size of 1600 Shares per application
Esprit Stones NUMBER OF SHARES ON OFFER
Esprit Stones IPO IMPORTANT DATES
| Issue Open Date | 26 Jul 2024 |
| Issue close Date | 30 Jul 2024 |
| Allotment Date | 31 Jul 2024 |
| Refund Date | 01 Aug 2024 |
| Demat Account Credit Date | 01 Aug 2024 |
| Listing Date | 02 Aug 2024 |
| Listing on Exchange(s) | NSE |
| Esprit Stones Allotment Status | Exchange |
Esprit Stones IPO subscription opened on 26 Jul 2024, and closed on 30 Jul 2024
IPO allotment for Esprit Stones was finalized on Wednesday, 31 Jul 2024
IPO listing for Esprit Stones was on NSE on Friday, 02 Aug 2024
Esprit Stones IPO LISTING GAINS
| Issue Price (adjusted) | 87.0 |
| Listing Open Price | 93.2 |
| Listing Close Price | 97.8 |
| Listing Gain% | 7.1% |
| Current Gain% | -19.5% |
Esprit Stones 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Esprit Stones Ltd. | 70 | 153.6 | -39.9 | 0.3 | 0.9 | -2.9 | -1.6 | 176 | -45.7 | -3.9 | -124.6 | -1.8 | -124.6 |
| Sheela Foam Ltd. | 677.4 | 7397.4 | 34.5 | 0.1 | 1.8 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 273.7 | 6983.4 | 75.1 | 0.4 | 2.2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 169.4 | 4517.4 | 30.4 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 127.8 | 4233.1 | 21.9 | 2.7 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 314.1 | 3210.1 | 41.6 | 85.9 | 9.6 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 7.5 | 0.5 |
Esprit Stones INFORMATION ON IPO ISSUE
About Esprit Stones
Esprit Stones was incorporated on October 19, 2016. The company is primarily engaged in the manufacturing of engineered stones such as engineered quartz surfaces and engineered marble surfaces.
Object of the Issue
- Funding working capital requirements of the company
- Investment in its subsidiary, Haique Stones, for repayment and/or prepayment in part or full of its outstanding borrowings
- Investment in its subsidiary, Haique Stones, for funding its working capital
- General corporate purposes
Esprit Stones - PROMOTERS
| Name |
|---|
| Sunilkumar Lunawath |
| Nitin Gattani |
| Pradeepkumar Lunawath |
| Sangeeta Gattani |
| Anushree Lunawath |
| Siddhanth Lunawath |
Esprit Stones Lead Manager of the Issue
Choice Capital Advisors Private Limited
rnfi.ipo@choiceindia.com
Srujan Alpha Capital Advisors LLP
jinesh@srujanalpha.com
Esprit Stones Registrar to the Issue
Link Intime India Private Limited
espritstones.ipo@linkintime.co.in
Esprit Stones Strengths
Prominent player
The company is one of the key engineered stone players in the Indian market. It is well-positioned to benefit from attractive growth and substantial penetration opportunities in the engineered stones segment
Focus on quality and innovation
The company stresses and constantly strives to maintain and improve the quality of its products. This focus is reflected in the standard of the quality systems which have been certified ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF certifications, green guard certifications, etc.
Backward integration
In order to reduce the dependency on third-party raw material suppliers, and use consistent and quality materials in products, the company has commissioned its manufacturing facility to manufacture quartz grit
Esprit Stones Risks
Dependent on few customers
A significant majority of the company's revenues from operations are derived from a limited number of customers
Certain legal proceedings
The company, its subsidiaries, promoters, and directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations, and financial condition
Negative cash flows
The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on the business
IPO FAQs
The promoters of the company are Sunilkumar Lunawath, Nitin Gattani, Pradeepkumar Lunawath, Sangeeta Gattani, Anushree Lunawath and Siddhanth Lunawath.
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 82.0 - 87.0.
The IPO application opens on Jul 26, 2024 and closes on Jul 30, 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. 131,200.0, the maximum value for this IPO is Rs 139,200.0.
This IPO will be allotted on Jul 31, 2024.
The refund will be credited to your account on Aug 01, 2024.
The allotted shares will be credited to your demat on Aug 01, 2024.
Esprit Stones Ltd.’s shares listed on the stock exchanges on Aug 02, 2024.