Incorporated in 2011, Shri Techtex Limited manufactures Polypropylene (PP) Non-Woven Fabric in a variety of sizes and densities.
The company manufactures Polypropylene (PP) Non-Woven Fabric, which is used for ecological applications, especially in fields and industries where disposable or single-use products are necessary, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, Mattress & furniture covering, ecological packaging, industrial and consumer goods.
Since FY 2011, as a Partnership firm, Shri Techtex was engaged in the business of industrial trading activity in Polymers, Chemicals, Packaging Materials and other allied products. Upon conversion of the Partnership Firm to a company, Shri Techtex continued manufacturing on a job-work basis. W.e.f. April 01, 2021, as a result of demerger, the said business of contract manufacturing was transferred to the resultant company Aurum Fabritech Private Limited (Aurum Fabritech Private Limited was converted to LLP w.e.f. February 02, 2022). After the demerger, to date, the company is engaged in the business of manufacturing Polypropylene (PP) Non-Woven Fabric.
Shri Techtex’s manufacturing site is located at Simaj of Dholka Taluka in the Ahmedabad District of Gujarat with a manufacturing capacity of 3600 MT PP non-woven fabric per annum. The manufacturing facility is spread across 41548 sq. meters.
The company’s client base comes from Gujarat, Tamil Nadu, and West Bengal as well as countries like the USA, Taiwan, Canada, Denmark, and China.
Shri Techtex is planning an expansion by adding new products like PP Tufted Fabric, commonly known as Artificial Grass and PP Multifilament Yarns. The company will purchase new specialized machinery for manufacturing the new products, and is expecting to commence production by October 2023. The machinery will have an installed capacity to manufacture 1200 tons per annum for the PP Multifilament and 30 Lakhs Sq Meters per annum for PP Tufted Fabric (Artificial Grass).
Shri Techtex IPO Details
| IPO Date | Jul 26, 2023 to Jul 28, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹54 to ₹61 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Fresh Issue | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,550,000 |
| Share holding post issue | 24,950,000 |
| Market Maker portion | 372,000 shares Sunflower Broking |
Shri Techtex IPO Reservation
| Anchor Investor Shares Offered | 2,100,000 (28.38%) |
| Market Maker Shares Offered | 372,000 (5.03%) |
| QIB Shares Offered | 1,410,000 (19.05%) |
| NII (HNI) Shares Offered | 1,056,000 (14.27%) |
| Retail Shares Offered | 2,462,000 (33.27%) |
| Total Shares Offered | 7,400,000 (100%) |
Shri Techtex IPO Timetable (Tentative)
Shri Techtex IPO opens on Jul 26, 2023, and closes on Jul 28, 2023.
| IPO Open Date | Wednesday, 26 July 2023 |
| IPO Close Date | Friday, 28 July 2023 |
| Basis of Allotment | Wednesday, 2 August 2023 |
| Initiation of Refunds | Thursday, 3 August 2023 |
| Credit of Shares to Demat | Friday, 4 August 2023 |
| Listing Date | Monday, 7 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jul 28, 2023 |
Shri Techtex IPO Lot Size
The Shri Techtex IPO lot size is 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹122,000 |
| Retail (Max) | 1 | 2000 | ₹122,000 |
| HNI (Min) | 2 | 4,000 | ₹244,000 |
| Lot Size Calculator |
Shri Techtex IPO Promoter Holding
Mr. Hanskumar Ramakant Agarwal and Mrs. Shradha Hanskumar Agarwal are the company promoters.
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 1,766.65 | 1,625.73 | 447.23 | 808.49 | 588.04 | 488.05 |
| 31-Mar-21 | 4,652.15 | 4,021.58 | 1,265.68 | 2,075.69 | 1,853.72 | 1,498.66 |
| 31-Mar-22 | 5,282.41 | 5,182.15 | 826.56 | 2,099.47 | 1,875.99 | 2,451.57 |
| 31-Mar-23 | 7,386.45 | 5,807.58 | 910.63 | 2,981.50 | 1,256.61 | 3,188.98 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 16.71 |
| Market Cap (₹ Cr.) | 152.2 |
| ROE | 35.84% |
| ROCE | 20.07% |
| Debt/Equity | 1.07 |
| EPS (Rs) | 5.19 |
| RoNW | 30.54% |
Check Shri Techtex 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:
- Construction of Factory Shed,
- Commissioning of Solar Plant,
- Purchase of Machineries,
- To meet working capital requirements,
- General corporate purpose, and to meet public issue expenses.
Shri Techtex IPO Review (May apply)
[Dilip Davda] The company operates in a highly competitive segment with many players around. Its FY21 performance raised eyebrows and after that, though the top line marked growth, its bottom line expressed declining margins. Hence, the sustainability of margins in the future is a significant concern. Though the issue appears reasonably priced, well-informed cash surplus investors may park funds with a long-term perspective. Read detail review…
Shri Techtex IPO Subscription Status (Bidding Detail)
The Shri Techtex IPO is subscribed 20.63 times on Jul 27, 2023 3:05:00 PM. The public issue subscribed 28.23 times in the retail category, 8.37 times in the QIB category, and 19.25 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.37 | 14,10,000 | 1,17,96,000 |
| NII* | 19.25 | 10,56,000 | 2,03,32,000 |
| Retail | 28.23 | 24,62,000 | 6,95,14,000 |
| Total | 20.63 | 49,28,000 | 10,16,42,000 |
Total Application : 34,757 (28.23 times)
*Market Maker portion is not included to NII/HNI.
Shri Techtex IPO Prospectus
Company Contact Information
Shri Techtex Limited
Harmony, 2nd Floor,15/A, Shree Vidhyanagar Co.Op.
Hsg. Soc. Ltd. Opp. Nabard,
Nr. Usmanpura Garden Ahmedabad – 380014
Phone: +91 78741 32777
Email: cs@shritechtex.co.in
Website: https://shritechtex.com/
Shri Techtex IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: shritechtex.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html