Incorporated in 2012, Chavda Infra Limited provides construction and allied services across residential, commercial, and institutional projects in Gujarat.
Chavda Infra is a part of the Chavda group, which consists of 3 businesses, Chavda Infra, Chavda RMC, and Chavda Developers, providing services in Ahmedabad, Gandhinagar, and Rajkot. The company has delivered more than 100 completed projects worth ₹ 67,099.45 Lakhs in Residential Properties, Commercial Properties, Institutional Infrastructures, etc. The company provides services ranging from planning and design to construction and post-construction activities.
Chavda Infra has three business verticals: Contracting Services, Development Services, and Commercial Renting Services.
The company has constructed some of the well-known buildings in Ahmedabad namely Straft Laxuria, Shivalik Parkview, and Shivalik Sharda Harmony, being residential projects. AAA Corporate House, Sadbhav House, Solitaire Sky, Sandesh Press, Suyash Solitaire, and Solitaire Connect, being commercial projects. AIS Toddler’s Den, Nirma University (old Building), and Zydus School & Excellence, being institutional projects. As of May 31, 2023, the company has 26 ongoing projects worth approximately ₹ 60,139 lakhs. Out of 26 ongoing projects 4 are commercial Projects, 4 are institutional projects and 18 are residential projects.
Chavda Infra is ISO 9001:2015 certified for quality management systems by BCQ Assessment Private Limited. The quality certification is for the construction of commercial, residential, and institutional buildings.
The company has more than 250 employees and recorded revenue from operations of Rs. 16,188.57 Lacs for the year ended on March 31, 2023.
Chavda Infra IPO Details
Chavda Infra IPO is a Book Built Issue. The IPO total issue size is Rs 43.26 Cr. The Chavda Infra IPO price is ₹60 to ₹65 per share. The IPO will list on NSE SME.
| IPO Date | September 12, 2023 to September 14, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹60 to ₹65 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 6,656,000 shares (aggregating up to ₹43.26 Cr) |
| Fresh Issue | 6,656,000 shares (aggregating up to ₹43.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 18,000,000 |
| Share holding post issue | 24,656,000 |
| Market Maker portion | 336,000 shares Spread X Securities |
Chavda Infra IPO Reservation
Chavda Infra IPO a total of 6,656,000 shares are offered. QIB: 1,264,000 (18.99%), RII: 2,212,000 (33.23%), NII: 948,000 (14.24%).
| Anchor Investor Shares Offered | 1,896,000 (28.49%) |
| Market Maker Shares Offered | 336,000 (5.05%) |
| QIB Shares Offered | 1,264,000 (18.99%) |
| NII (HNI) Shares Offered | 948,000 (14.24%) |
| Retail Shares Offered | 2,212,000 (33.23%) |
| Total Shares Offered | 6,656,000 (100%) |
Chavda Infra IPO Anchor Investors Details
Chavda Infra IPO raises Rs 12.32 crore from anchor investors. Chavda Infra IPO Anchor bid date is September 11, 2023. Chavda Infra IPO Anchor Investors list
| Bid Date | September 11, 2023 |
| Shares Offered | 1,896,000 |
| Anchor Portion Size (In Cr.) | 12.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 3, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 31, 2024 |
Chavda Infra IPO Timetable (Tentative)
Chavda Infra IPO opens on September 12, 2023, and closes on September 14, 2023.
| IPO Open Date | Tuesday, September 12, 2023 |
| IPO Close Date | Thursday, September 14, 2023 |
| Basis of Allotment | Wednesday, September 20, 2023 |
| Initiation of Refunds | Thursday, September 21, 2023 |
| Credit of Shares to Demat | Friday, September 22, 2023 |
| Listing Date | Monday, September 25, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 14, 2023 |
Chavda Infra IPO Lot Size
The minimum lot size of this Chavda Infra IPO is 2000 shares required is ₹130,000.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹130,000 |
| Retail (Max) | 1 | 2000 | ₹130,000 |
| HNI (Min) | 2 | 4,000 | ₹260,000 |
| Lot Size Calculator |
Chavda Infra IPO Promoter Holding
Mr. Mahesh Gunvantlal Chavda, Mrs. Dharmishtha Maheshkumar Chavda and Mr. Johil Maheshbhai Chavda are the promoters of the company.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73% |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 8,668.11 | 10,880.79 | 15,424.40 |
| Revenue | 9,131.05 | 10,987.68 | 16,203.37 |
| Profit After Tax | 443.84 | 521.46 | 1,204.62 |
| Net Worth | 1,314.28 | 1,835.74 | 3,040.36 |
| Reserves and Surplus | 1,164.28 | 1,685.74 | 1,240.36 |
| Total Borrowing | 3,330.32 | 4,993.14 | 5,328.95 |
Amount in ₹ Lakhs
Key Performance Indicator
Chavda Infra IPO Market Cap is Rs 160.26 Cr and P/E (x) is 13.29.
| KPI | Values |
|---|---|
| P/E (x) | 13.29 |
| Market Cap (₹ Cr.) | 160.26 |
| ROE | 49.41% |
| ROCE | 43.62% |
| Debt/Equity | 1.75 |
| EPS (Rs) | 6.69 |
| RoNW | 39.62% |
Check Chavda Infra IPO Peer Comparison here.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To Meet Working Capital Requirements,
- General corporate purposes, and
- To meet Public Issue Expenses.
Chavda Infra IPO Review (Apply)
[Dilip Davda] The company has been doing well and has a good order book. Based on FY23, the issue is reasonably priced. It has ongoing projects worth Rs. 601 cr. on hand. Investors may consider parking funds for the medium to long-term rewards. Read detail review…
Chavda Infra IPO Subscription Status (Bidding Detail)
The Chavda Infra IPO is subscribed 4.68 times on Sep 12, 2023 4:31:00 PM. The public issue subscribed 7.75 times in the retail category, 0.00 times in the QIB category, and 3.75 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.00 | 12,64,000 | 0 |
| NII* | 3.75 | 9,48,000 | 35,54,000 |
| Retail | 7.75 | 22,12,000 | 1,71,46,000 |
| Total | 4.68 | 44,24,000 | 2,07,00,000 |
Total Application : 8,573 (7.75 times)
*Market Maker portion is not included to NII/HNI.
Chavda Infra IPO Prospectus
Company Contact Information
Chavda Infra Limited
304 to 307, 406, 407 B Square I,
Near Neptune House, IsconAmbali BRTS Road,
Ahmedabad- 380058
Phone: 079 4892 6087
Email: compliance@chavdainfra.com
Website: https://www.chavdainfra.com/
Chavda Infra IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: chavdainfra.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/