Sheetal Universal IPO is a fixed price issue of Rs 23.80 crores. The issue is entirely a fresh issue of 34 lakh shares.
Sheetal Universal IPO opens for subscription on December 4, 2023 and closes on December 6, 2023. The allotment for the Sheetal Universal IPO is expected to be finalized on Thursday, December 7, 2023. Sheetal Universal IPO will list on NSE SME with tentative listing date fixed as Monday, December 11, 2023.
Sheetal Universal IPO price is ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Sheetal Universal IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sheetal Universal IPO is Spread X Securities.
Refer to Sheetal Universal IPO RHP for detailed information.
Sheetal Universal IPO Details
| IPO Date | December 4, 2023 to December 6, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,400,000 shares (aggregating up to ₹23.80 Cr) |
| Fresh Issue | 3,400,000 shares (aggregating up to ₹23.80 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,055,999 |
| Share holding post issue | 11,455,999 |
| Market Maker portion | 172,000 shares Spread X Securities |
Sheetal Universal IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Sheetal Universal IPO Timeline (Tentative Schedule)
Sheetal Universal IPO opens on December 4, 2023, and closes on December 6, 2023.
| IPO Open Date | Monday, December 4, 2023 |
| IPO Close Date | Wednesday, December 6, 2023 |
| Basis of Allotment | Thursday, December 7, 2023 |
| Initiation of Refunds | Friday, December 8, 2023 |
| Credit of Shares to Demat | Friday, December 8, 2023 |
| Listing Date | Monday, December 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 6, 2023 |
Sheetal Universal 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 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator |
Sheetal Universal IPO Promoter Holding
Promoters of the company are Mr. Hiren Vallabhbhai Patel and Mrs. Kajal Hiren Patel.
| Share Holding Pre Issue | 95% |
| Share Holding Post Issue |
About Sheetal Universal Limited
Incorporated in 2015, Sheetal Universal Limited is engaged in the business of sourcing, processing, and supplying agricultural commodities like peanuts, sesame seeds, spice, and grains to cater to the manufacturers of peanut butter, biscuits, cakes, chocolate, and food products.
The product range of the company comprises spices, peanuts, sesame seeds and pulses, and other agro-products.
Sheetal Universal owns a manufacturing & processing unit situated in Jamnagar, Gujrat, spread across a total land area of approximately 14,668 sq mts. The manufacturing unit is certified with FSSAI-2006 by the Government of India. The company is a member of the Agricultural & Processed Food Products Export Development Authority and the Indian Oil Seeds & Produce Export Promotion Council.
The company owns two subsidiaries Saumesvar International Private Limited and Svar Industries Private Limited. The subsidiaries process and export agri-commodities like oil seed, grains, etc.
The company’s clientele includes customers from the Russian Federation, Indonesia, Malaysia, Vietnam, UAE, Iran, Algeria, Israel, Turkey, and Egypt.
Sheetal Universal recorded a total revenue from operations of Rs. 12,881.22 Lacs, Rs. 3,868.77 Lacs, and Rs. 3,763.64 Lacs in fiscal 2023, 2022, and 2021 respectively.
The competitive strength of the company lies in the following:-
- Advantageous geographical location
- Experienced Promoters and Management Team
- Diversified customer base and long-standing relationship with our customers
- On-time delivery of products
- Scalable Business Model
Sheetal Universal Limited Financial Information (Restated Consolidated)
Sheetal Universal Limited’s revenue increased by 230.49% and profit after tax (PAT) rose by 602.4% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,370.03 | 2,804.02 | 1,602.82 | 1,272.15 |
| Revenue | 5,826.93 | 13,165.68 | 3,983.67 | 3,883.53 |
| Profit After Tax | 187.67 | 198.85 | 28.31 | 25.41 |
| Net Worth | 1,046.89 | 649.22 | 450.37 | 422.07 |
| Reserves and Surplus | 241.29 | 299.22 | 100.37 | 72.07 |
| Total Borrowing | 1,463.22 | 1,356.24 | 984.80 | 625.07 |
| Amount in ₹ Lakhs |
Key Performance Indicator
Sheetal Universal IPO Market Cap is Rs 80.19 Cr and P/E (x) is 27.34.
| KPI | Values |
|---|---|
| P/E (x) | 27.34 |
| Post P/E (x) | 17.81 |
| Market Cap (₹ Cr.) | 80.19 |
| ROE | 36.17% |
| ROCE | 21.59% |
| Debt/Equity | 2.09 |
| EPS (Rs) | 2.56 |
| RoNW | 30.63% |
Check Sheetal Universal IPO Peer Comparison here.
Objects of the Issue (Sheetal Universal IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
1. Funding capital expenditure
2. Working Capital Requirement
3. General Corporate Purpose
4. To meet Public Issue Expenses
Sheetal Universal IPO Review (May apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. The sudden boost in its financial performance for FY23 onward raise eyebrows and concern over the sustainability going forward. Based on supper annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium term. Read detail review…
Sheetal Universal Limited Contact Details
Sheetal Universal Limited
Office No. 348
2nd Floor, ISCON Mall,
150 Feet Ring Road, Rajkot – 360005
Phone: +91 9099302638
Email: cs@sheetaluniversal.com
Website: https://sheetaluniversal.com/
Sheetal Universal IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html