Gabriel Pet Straps Limited, Gujarat-based manufacturer of Pet Straps, is launching its initial public offering (IPO) on January 31, 2024. The IPO comprises of a fresh issue of 7.98 lakh shares worth ₹8.06 crores and there is no OFS component. The price band is fixed at ₹101 per share at a face value of ₹10 each. The IPO is scheduled for listing on the SME arm of BSE on February 07, 2024.
Company Overview
Founded in 2020, Gabriel Pet Straps limited has a production line in Pet Strap industry with a daily capacity of 8-15 metric tonnes. In addition to Pet Straps, the company also offers tools for attaching Straps. The company boasts of more than 1,000 customers in the industry across the country. The company is headquartered in Rajkot, Gujarat with 18 employees and has a production facility in Gujarat.
Mr. Shah Jay Pareshbhai, Mr. Varasada Vimal Dayabhai, and Mr. Kavathiya Vivek Dharmendrabhai are the promoters of the company.
Purpose of the IPO
Since its a fresh issue, the entirety of the proceeds will go to the company. The net proceeds from the issue will go toward repayment or prepayment of loans, acqusition of land, funding the expenses for setting up a solar power plant and general corporate purposes.
IPO Details
Gabriel Pet Straps Limited IPO will remain open for subscription for 3 days between January 31, 2024 to February 02, 2024.
| Offer Dates | |
| Opening | January 31, 2024 |
| Closing | February 02, 2024 |
| Issue Details | |
| IPO Type | Fixed Price, Fresh Issue |
| Issue Size | 7,98,000 shares (aggregating up to ₹8.06 crore) |
| Fresh Issue | 7,98,000 shares (aggregating up to ₹8.06 crore) |
| Offer for Sale | None |
| Market Maker Reservation | 44,400 shares |
| Face Value | ₹10 per share |
| Price Band | ₹101 per share |
| Lot Size | 1,200 shares |
| Lot Amount | ₹121,200 |
| Share holding before issue | 1,848,840 shares |
| Share holding after issue | 2,646,840 shares |
| IPO Organizer | |
| Listing at | BSE SME |
| Book Running Lead Manager | Sherni Shares Limited |
| Registrar | Bigshare Services Private Limited |
| Market maker | Sherni Shares |
| Reservation & Lot details | |
| – 50% of the net offer is reserved for the retail investors whereas the rest 50% is offered to investors in other categories. Retail investors can bid only for 1 lot. – Non-institutional investors have to bid for a minimum of 2 lots. – The investment amount per lot is ₹121,200. |
Share Allotment & listing
Bigshare Services Private Limited is the registrar for the Gabriel Pet Straps Limited IPO and will oversee the allotment process. The investors may check the allotment status on registrar’s website on January 23, 2024.
| Finalization of allotment basis | February 05, 2024 (Tuesday) |
| Credit of Shares to Demat / Refunds / Unblocking of Funds | February 06, 2024 (Wednesday) |
| IPO Listing Date / Share Trading | February 07, 2024 (Thursday) |
Gabriel Pet Straps Limited, BSE Symbol – GPSL, will be listed on BSE SME on February 07, 2024. Investors can keep track of the listing on BSE website here.
Financial Performance
Revenue: The revenue rose to ₹15 crore in the financial year 2023 from ₹9.68 crore in financial year 2022. In period ended October 15, 2023, the revenue stood at ₹4.51 crore.
Profit: The profit after tax in FY23 was ₹0.51 crore, up from a loss of ₹36.8 lakh in FY22. This financial year by October 15, 2023, the company posted a profit of ₹0.17 crore.
Assets: The company’s assets value is reported at ₹10.67 crore in October 15, 2023. In FY23, the assets were worth ₹7.42 crore.
Overall, in the period ended October 15, 2023, the company’s net worth stood at ₹2.03 crore and the total borrowing at ₹6.30 crore.
Note: Refer to the RHP document for detailed information. Visit IPO Details section at our site for more IPOs information.
