Shree Marutinandan Tubes Limited has launched its Initial Public Offering (IPO) to raise ₹14.30 crore through a fresh issue of 10 lakh shares. The IPO opens for public subscription on January 12, 2024 and closes on January 16, 2024. The price band is fixed at ₹143 per share at a face value of ₹10 each. The public issue will be listed on the small and enterprises segment of the Bombay Stock Exchange (BSE) on January 19, 2024.
Swastika Investmart Ltd is the book running lead manager as well as market maker for the Shree Marutinandan Tubes Limited IPO whereas Bigshare Services Pvt Ltd is the registrar.
About Company
Shree Marutinandan Tubes Limited was incorporated in 2013. The company produces various types of specialized tubes such as Electrical Resistance Welded Mild Steel Tubes (ERW MS), Black Tubes, Galvanized Tubes, and Solar Structural Tubes. Industries like agriculture, oil, solar energy, housing, irrigation, and engineering employ these goods. In addition, the company sells tube winders, rotavators, peanut destoners, hoppers, grading machines, and potato harvesters.
Till December 25, 2023, a total of 14 employees are on roll in the company. Shree Marutinandan Tubes Limited collaborates with Shree Kamdhenu Machinery Private Limited. This means it is a contract manufacturer, to build the products as per the customer’s specifications rather than producing the equipment itself.
Objects of the Issue:
The entire net proceeds from the issue will go to the company as there is no offer for sale component. The company proposes to utilise the funds from the issue towards meeting incremental working capital requirements, general corporate purposes and to meet IPO expenses.
IPO Details
| Offer Dates | |
| Opening | January 12, 2024 (Friday) |
| Closing | January 16, 2024 (Tuesday) |
| Issue Details | |
| Issue Type | Fresh Issue at fixed price |
| Issue Size | 10,00,000 shares to aggregating up to ₹14.30 Crores |
| Fresh Issue | 10,00,000 shares to aggregating up to ₹14.30 Crores |
| Market Maker Reservation | 50,000 shares |
| Net offering | 9,50,000 Shares (excluding market maker reservation) |
| Face Value | ₹10 per Share |
| Price Band | ₹143 per share |
| Lot Size | 1000 Shares |
| Lot Amount | ₹1,43,000 |
| Holding before issue | 24,60,000 Shares |
| Holding after issue | 34,60,000 Shares |
| IPO Organizer | |
| Listing at | BSE SME |
| BRML | Swastika Investmart |
| Registrar | Bigshare Services Pvt Ltd |
| Market maker | Swastika Investmart |
| Investor Quota | |
| – Retailer investors: 50% of net offering. Can apply for maximum 1 lot. – 50% Quota of net offering is allotted to other inverters including NIIs, QIBs, etc in which NIIs have to bid for minimum 2 lots. | |
| Share Allotment & listing | |
| Finalization of allotment basis | January 17, 2024 (Wednesday) |
| Credit of Shares to Demat / Refunds / Unblocking of Funds | January 18, 2024 (Thursday) |
| IPO Listing Date / Share Trading | January 19, 2024 (Friday) |
Company’s financials
Shree Marutinandan Tubes Limited recorded a 0.09% growth in revenue and a 3257.07% rise in profit after tax (PAT) in the financial year ending in 2023 as compared to FY2022.
| Financial Period Ending in | 30 Sep’23 | 31 Mar’23 | 31 Mar’22 | 31 Mar’21 |
| Net Worth | 409.70 | 267.74 | 65.98 | 59.98 |
| Total Assets | 2,234.29 | 1,617.60 | 1,284.83 | 1,301.03 |
| Revenue from operations | 4,277.30 | 4,716.96 | 4,714.07 | 3,563.60 |
| EBITDA | 224.93 | 353.67 | 81.20 | 97.16 |
| EBITDA Margin | 5.25% | 7.49% | 1.72% | 2.70% |
| Profit After Tax (PAT) | 142.00 | 201.76 | 6.01 | 13.30 |
| PAT Margin | 3.31% | 4.27% | 0.13% | 0.37% |
| Debt-Equity Ratio | 1.48 | 2.68 | 9.74 | 12.90 |
| Cash flow from operations | 145.53 | -43.95 | 268.77 | -272.54 |
| Reserves & Surplus | 163.73 | 247.24 | 45.48 | 39.48 |
| Total Borrowing | 607.28 | 716.90 | 688.89 | 795.31 |
| Amount in ₹ Lakhs | ||||
IPO Valuation – Key Performance Indicator
| KPI | Values |
| P/E Ratio Pre-IPO | 17.44 |
| P/E Ratio Post-IPO | 17.42 |
| D/E Ratio | 2.68 |
| Earnings Per Share (EPS) | ₹8.2 |
| Return on equity (ROE) | 120.91% |
| Return on capital employed (RoCE) | 78.52% |
| Return on Net Worth (RoNW) | 75.36% |
Note: Refer to the RHP for more detailed information.
Subscription Status
The subscription status for Shree Marutinandan Tubes IPO will be available between January 12, 2024 to January 15, 2024 once the issue is open for public subscription. The subscription status data is updated daily at the end of day as available on the BSE website.
Subscription Status on Day 1
To be updated at 5 pm daily.
| Investor category | Subscription status (times) |
| QIBs | – |
| NIIs | – |
| Retail | – |
| Overall | – |
Allotment
The basis of allotment for the Shree Marutinandan Tubes IPO will be finalised on January 17, 2024 as per the date given in the RHP document. Bigshare Services Pvt Ltd, the registrar to the issue, will finalise the basis of allotment and upload the status on its website. Investors who bid for the Shree Marutinandan Tubes IPO may check the allotment status of their shares on the website of Bigshare Services Pvt Ltd as well as on the website of NSE and BSE.
How to check allotment status
- Visit the website of registrar – Bigshare Services Pvt Ltd
- Select the Company Name ‘Shree Marutinandan Tubes Limited’
- Select type ‘Application number/PAN/Demat account’
- Enter the details and submit the request to check the status.
Listing Info
The shares of the Shree Marutinandan Tubes Limited will debut on the SME segment of Bombay Stock Exchange (BSE) on January 19, 2024.
| Security Type | Equity, BSE SME |
| Symbol | SMNTUBE |
| IPO Price | ₹143 |
| Share Open Price | To be updated on January 19, 2024. |
