Incorporated in 2002, Essen Speciality Films Limited manufactures and exports specialized plastic products in the home improvement and home furnishing industry, to multinational modern trade retailers, such as IKEA, Walmart, Kmart, Bed Bath & Beyond, Rusta, Runsven, Kohl’s, Kroger, etc.
The company’s product list includes bath area and accessories, artificial plants & flowers, kitchen & dining, storage & organization, fitness & lifestyle, and outdoor & utility products, and customized products, which include plastic films, Spa slippers, Baby shower caps, green-house gutter sheets, etc. The company markets and sells its products predominantly under three brands; ‘Draperi’ for shower curtains, ‘Runner’ for shelf liners, and ‘Paperi’ for artificial plants and placemats.
They have a diversified customer base and are spread across various industries, including but not limited to home furnishing, home decor, departmental stores, discount retailers, hypermarkets, hardware, and home improvement, office supplies stores, agricultural and medical industry, and international importers and wholesale distributors.
The company supplies its products to twenty-four (24) countries, including but not limited to, China, Saudi Arabia, the United States of America, Qatar, United Kingdom, Germany, Italy, Canada, Romania, Denmark, Poland, New Zealand, United Arab Emirates, Spain, Austria, France, Australia, Kuwait, Belgium, Austria, Sweden, and Mexico.
Essen Speciality Films has been recognized as a ‘two-star export house’ by the Ministry of Commerce & Industry, Government of India. And was awarded with the ‘Best Supplier of the Year’, twice by IKEA.
Essen Speciality Films IPO Details
| IPO Date | Jun 23, 2023 to Jun 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹101 to ₹107 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,199,200 shares (aggregating up to ₹66.33 Cr) |
| Fresh Issue | 4,699,200 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 1,500,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,000,000 |
| Share holding post issue | 20,699,200 |
| Market Maker portion | 310,800 shares Smc Global Securities |
Essen Speciality Films IPO Reservation
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
Essen Speciality Films IPO Timetable (Tentative)
Essen Speciality Films IPO opens on Jun 23, 2023, and closes on Jun 27, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 23 June 2023 |
| Closing Date | Tuesday, 27 June 2023 |
| Basis of Allotment | Monday, 3 July 2023 |
| Initiation of Refunds | Tuesday, 4 July 2023 |
| Credit of Shares to Demat | Wednesday, 5 July 2023 |
| Listing Date | Thursday, 6 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 27, 2023 |
Essen Speciality Films IPO Lot Size
The Essen Speciality Films IPO lot size is 1200 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹128,400 |
| Retail (Max) | 1 | 1200 | ₹128,400 |
| HNI (Min) | 2 | 2,400 | ₹256,800 |
| Lot Size Calculator |
Essen Speciality Films IPO Promoter Holding
Pallav Kishorbhai Doshi, Khushboo Chandrakant Doshi, and Karishma Rajesh Doshi are the company promoters.
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 70% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 10,440.24 | 9,680.78 | 913.73 | 6,707.76 | 6,607.76 | 1,541.36 |
| 31-Mar-22 | 11,859.28 | 11,857.17 | 516.90 | 7,224.65 | 5,624.66 | 2,583.00 |
| 31-Mar-23 | 10,970.82 | 12,048.09 | 1,337.23 | 8,561.89 | 6,961.89 | 657.40 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 16.5 |
| Market Cap (₹ Cr.) | 220 |
| ROCE | 12.19% |
| EPS (Rs) | 8.36 |
| RoNW | 15.62% |
Check Essen Speciality Films 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:
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company,
- Funding the working capital requirements, and
- General corporate purposes.
Essen Speciality Films IPO Review (May apply)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. The sudden boost in its bottom line for FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced while based on its track records so far, the issue appears aggressively priced. Only well-informed investors may consider parking funds, others may ignore it. Read detail review…
Essen Speciality Films IPO Prospectus
Company Contact Information
Essen Speciality Films Limited
Plot No. A,
Survey No. 192,
Veraval (Shapar), Rajkot – 360 024
Phone: +91 98253 12701
Email: info@essenspeciality.com
Website: https://www.essenspeciality.com/index.html
Essen Speciality Films IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/