Saakshi Medtech and Panels IPO is a book built issue of Rs 45.16 crores. The issue is entirely a fresh issue of 46.56 lakh shares.
Saakshi Medtech and Panels IPO opens for subscription on September 25, 2023 and closes on September 27, 2023. The allotment for the Saakshi Medtech and Panels IPO is expected to be finalized on Tuesday, October 3, 2023. Saakshi Medtech and Panels IPO will list on NSE SME with tentative listing date fixed as Friday, October 6, 2023.
Saakshi Medtech and Panels IPO price band is set at ₹92 to ₹97 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹116,400. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹232,800.
Hem Securities Limited is the book running lead manager of the Saakshi Medtech and Panels IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Saakshi Medtech and Panels IPO is Hem Finlease.
Refer to Saakshi Medtech and Panels IPO RHP for detailed information.
Saakshi Medtech and Panels IPO Details
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹92 to ₹97 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,656,000 shares (aggregating up to ₹45.16 Cr) |
| Fresh Issue | 4,656,000 shares (aggregating up to ₹45.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 13,000,000 |
| Share holding post issue | 17,656,000 |
| Market Maker portion | 235,200 shares Hem Finlease |
Saakshi Medtech and Panels 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 |
Saakshi Medtech and Panels IPO Timeline (Tentative Schedule)
Saakshi Medtech and Panels IPO opens on September 25, 2023, and closes on September 27, 2023.
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Tuesday, October 3, 2023 |
| Initiation of Refunds | Wednesday, October 4, 2023 |
| Credit of Shares to Demat | Thursday, October 5, 2023 |
| Listing Date | Friday, October 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
Saakshi Medtech and Panels IPO Lot Size
Investors can bid for a minimum of 1200 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 | 1200 | ₹116,400 |
| Retail (Max) | 1 | 1200 | ₹116,400 |
| HNI (Min) | 2 | 2,400 | ₹232,800 |
| Lot Size Calculator |
Saakshi Medtech and Panels IPO Promoter Holding
Mr. Aniket Vijay Latkar and Ms. Chitra Vijay Latkar are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.63% |
About Saakshi Medtech and Panels Limited
Incorporated in 2001, Saakshi Medtech and Panels Private Limited is engaged in the designing, programing, and assembling of Electrical Control Panels and Cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems.
The company manufactures:
- Electrical Control Panels and Cabinets used in elevators, air compressors, the renewal energy industry, the oil & gas exploration industry, electrical vehicle charging stations, etc.;
- Medical X-ray systems used in the healthcare industry;
- Fabrication works for locomotives; and
- Wire harness division for electrical control panels and for supply to the air compressor industry.
Saakshi Medtech and Panels’ has three manufacturing units in Pune, Maharashtra, with a total built-up area of approx. 9600 sq mtr.
The company has been awarded the Best Delivery Performance Award for 2010 – from Atlas Copco Ltd, Pune, Best EHS Award for 2013 from Atlas Copco Ltd, Pune, Awarded by Healthcare Innovation Centre (HIC) as the NPI Development Partner Award from Philips in 2015, Recognized as Productivity Partner in MMF Strategic Business Partnership Conclave 2021 by the GE Group, and Recognition certification of Zero Defect Zero Effect from MSME India.
The company recorded Rs. 8,723.00 Lacs in revenue from operations for the period ended December 31, 2022, Rs. 9,157.78 Lacs in fiscal 2022, and Rs. 5,977.39 in fiscal 2021.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 5,591.50 | 6,521.91 | 9,324.22 |
| Revenue | 6,022.17 | 9,169.35 | 12,220.19 |
| Profit After Tax | 220.08 | 937.59 | 1,238.30 |
| Net Worth | 1,788.17 | 2,725.77 | 3,964.07 |
| Reserves and Surplus | 1,788.17 | 2,725.77 | 3,964.07 |
| Total Borrowing | 2,199.44 | 1,635.78 | 2,007.45 |
Amount in ₹ Lakhs
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 10.18 |
| ROCE | 28.57% |
| EPS (Rs) | 9.53 |
| RoNW | 29.32% |
Check Saakshi Medtech and Panels IPO Peer Comparison here.
Objects of the Issue (Saakshi Medtech and Panels IPO Objectives)
The Net Proceeds are proposed to be used in accordance with the details as set forth below:
- Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
- Repayment in full or in part, of certain of the company’s outstanding borrowings.
- Funding Capital Expenditure towards the installation of additional plant and machinery.
- Funding to meet working capital requirements.
- General Corporate Purpose.
Saakshi Medtech and Panels IPO Review (Apply)
[Dilip Davda] The company is in the business of manufacturing electrical control panels, cabinets, medical equipment, etc. It marked steady growth in the top lines for the last three fiscals and was able to post over 10% net margins for the last two fiscals. Based on FY23 earnings, the issue appears reasonably priced. Investors may park funds for short to long-term rewards. Read detail review…
Saakshi Medtech and Panels IPO Prospectus
Saakshi Medtech and Panels IPO Contact Details
Saakshi Medtech and Panels Limited
Plot No. EL-23, J Block,
MIDC Industrial Area,
Bhosari, Pune- 411026
Phone: +91- 02039854400
Email: info@smtpl.co
Website: https://www.smtpl.co/index.html
Saakshi Medtech and Panels IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html