Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue is entirely a fresh issue of 40.68 lakh shares.
Aspire & Innovative IPO opens for subscription on March 26, 2024 and closes on March 28, 2024. The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024. Aspire & Innovative IPO will list on NSE SME with tentative listing date fixed as Wednesday, April 3, 2024.
Aspire & Innovative IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Aspire & Innovative IPO DRHP for detailed information.
Aspire & Innovative IPO Details
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,068,000 shares (aggregating up to ₹21.97 Cr) |
| Fresh Issue | 4,068,000 shares (aggregating up to ₹21.97 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 11,110,000 |
| Share holding post issue | 15,178,000 |
| Market Maker portion | 204,000 shares |
Aspire & Innovative IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not More than 50% of the Net Issue |
| Retail Shares Offered | Not Less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not Less than 15% of the Net Issue |
Aspire & Innovative IPO Timeline (Tentative Schedule)
Aspire & Innovative IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Aspire & Innovative IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
| Lot Size Calculator | |||
Aspire & Innovative IPO Promoter Holding
The promoters of the company are Nitesh Agarwalla and Rinku Agarwalla.
| Share Holding Pre Issue | 98.84% |
| Share Holding Post Issue |
About Aspire & Innovative Advertising Limited
Founded in 2017, Aspire & Innovative Advertising Limited deals in consumer durables, including kitchen appliances, home appliances, white goods, mobile phones and accessories, solar products, and more. They deal in products from renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells, and many others.
The company’s asset-light model incurs expenses for facilitation fees and commission paid to intermediaries. They provide services such as marketing, field staff interaction, demand collation, and financial services to customers in rural and semi-urban communities.
The company offers 50+ products, including cookware, electronics, and appliances such as pressure cookers, induction cooktops, mixer-grinders, dinner sets, sewing machines, fans, irons, bulbs, heaters, phones, TVs, refrigerators, washing machines, headphones, and solar lanterns.
The company has commercial arrangements with 15+ intermediaries and operates 19 warehouses in 16 states.
As of November 30, 2023, the company has 49 full-time employees, including managers.
Aspire & Innovative Advertising Limited Financial Information (Restated Standalone)
Aspire & Innovative Advertising Limited’s revenue increased by 35.46% and profit after tax (PAT) rose by 21.38% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,135.72 | 6,256.99 | 5,328.01 | 3,492.07 |
| Revenue | 17,710.29 | 34,620.10 | 25,558.30 | 10,833.44 |
| Profit After Tax | 393.28 | 530.85 | 437.36 | 227.75 |
| Net Worth | 1,944.53 | 1,551.25 | 1,020.39 | 520.98 |
| Reserves and Surplus | 833.53 | 1,440.15 | 909.29 | 519.98 |
| Total Borrowing | 1,160.89 | 881.53 | 111.02 | 55.91 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Aspire & Innovative IPO is Rs 81.96 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 22.50% |
| ROCE | 18.59% |
| Debt/Equity | 0.6 |
| RoNW | 20.22% |
| P/BV | 3.09 |
| PAT Margin (%) | 2.23 |
Check Aspire & Innovative IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.78 | 5.18 |
| P/E (x) | 11.3 | 10.42 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Aspire & Innovative IPO Objectives)
The company intends to utilize the proceeds of the Issue to meet the following objects:
- To meet Working Capital requirements; and
- To finance the cost of establishing new warehouses
- General Corporate Purpose.
Aspire & Innovative Advertising Limited Contact Details
Aspire & Innovative Advertising Limited
C-4 Baldev Park
Shahdara
East Delhi -110051,
Phone: +91-124-2213055
Email: cs@aspireinnovate.in
Website: https://www.aspireinnovate.in/
Aspire & Innovative IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: investor@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html