Sunita Tools IPO is a fixed price issue of Rs 22.04 crores. The issue is a combination of fresh issue of 13.2 lakh shares aggregating to Rs 19.14 crores and offer for sale of 2 lakh shares aggregating to Rs 2.90 crores.
Sunita Tools IPO bidding started from September 26, 2023 and ended on October 3, 2023. The allotment for Sunita Tools IPO was finalized on Wednesday, October 4, 2023. Sunita Tools IPO will list on BSE SME with tentative listing date fixed as Tuesday, October 10, 2023.
Sunita Tools IPO price is ₹145 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹145,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹290,000.
Aryaman Financial Services Limited is the book running lead manager of the Sunita Tools IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Sunita Tools IPO is Ss Corporate Securities.
Refer to Sunita Tools IPO RHP for detailed information.
Sunita Tools IPO Details
| IPO Date | September 26, 2023 to October 3, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹145 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 1,520,000 shares (aggregating up to ₹22.04 Cr) |
| Fresh Issue | 1,320,000 shares (aggregating up to ₹19.14 Cr) |
| Offer for Sale | 200,000 shares of ₹10 (aggregating up to ₹2.90 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 4,305,000 |
| Share holding post issue | 5,625,000 |
| Market Maker portion | 78,000 shares Ss Corporate Securities |
Sunita Tools IPO Reservation
Sunita Tools IPO a total of 1,520,000 shares are offered. NII: 721,000 (47.43%), RII: 721,000 (47.43%).
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 78,000 (5.13%) |
| Other Shares Offered | 721,000 (47.43%) |
| Retail Shares Offered | 721,000 (47.43%) |
| Total Shares Offered | 1,520,000 (100%) |
Sunita Tools IPO Timeline (Tentative Schedule)
Sunita Tools IPO opens on September 26, 2023, and closes on October 3, 2023.
| IPO Open Date | Tuesday, September 26, 2023 |
| IPO Close Date | Tuesday, October 3, 2023 |
| Basis of Allotment | Wednesday, October 4, 2023 |
| Initiation of Refunds | Thursday, October 5, 2023 |
| Credit of Shares to Demat | Friday, October 6, 2023 |
| Listing Date | Tuesday, October 10, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 3, 2023 |
Sunita Tools IPO Lot Size
Investors can bid for a minimum of 1000 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 | 1000 | ₹145,000 |
| Retail (Max) | 1 | 1000 | ₹145,000 |
| HNI (Min) | 2 | 2,000 | ₹290,000 |
| Lot Size Calculator |
Sunita Tools IPO Promoter Holding
Ms. Sangeeta Pandey, Mr. Sanjay Kumar Pandey, Mr. Satish Kumar Pandey, and Ms. Ragini Pandey are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.97% |
About Sunita Tools Limited
Incorporated in 1988, Sunita Tools Limited manufactures mold base and machining parts for Automotive, Pharmaceutical, Electronics, Consumer Goods, and Manufacturing Sectors.
The company manufactures Customized Mould Bases, Precision Finish CNC Machining, Plastic Mould Bases, Pocket Machining, Injection Mould Bases, Precision Component Machining, Mould Bases For Caps and closures, Blow Mould Bases, Standard Mould Bases, Compression Mould bases, Die Casting Mould Bases, Insert Mould Bases, Over mold Bases, and Prototype Mould Bases. The company’s products are used as Capital Assets as inputs in the Automotive Industry, Heavy Manufacturing, Industry Plastics Industry, Electrical Industry, and Consumer Goods Industry.
Sunita Tools’ manufacturing unit is located in Vasai, Mumbai, with a capacity to produce large dimensional products ranging from 200*200 mm to 4000*2000 mm up to 30 tones in weight.
The company recorded ₹ 666.36 lakhs in Fiscal 2021, ₹ 873.47 lakhs in fiscal 2022, and ₹ 1,384.44 lakhs in Fiscal 2023 in revenue from operations respectively.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 1,351.82 | 1,422.66 | 2,537.71 |
| Revenue | 691.50 | 888.88 | 1,417.33 |
| Profit After Tax | 26.66 | 80.99 | 337.71 |
| Net Worth | -348.02 | -267.02 | 320.69 |
| Reserves and Surplus | -528.52 | -447.52 | -109.81 |
| Total Borrowing | 1,334.63 | 1,249.16 | 1,659.96 |
Amount in ₹ Lakhs
Key Performance Indicator
Sunita Tools IPO Market Cap is Rs 81.56 Cr and P/E (x) is 16.88.
| KPI | Values |
|---|---|
| P/E (x) | 16.88 |
| Post P/E (x) | 24.17 |
| Market Cap (₹ Cr.) | 81.56 |
| ROE | 12.59 |
| ROCE | 0.38 |
| Debt/Equity | 5.17 |
| EPS (Rs) | 13.96 |
| RoNW | 105.31% |
Check Sunita Tools IPO Peer Comparison here.
Objects of the Issue (Sunita Tools IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding Working capital requirements.
- General Corporate Purpose.
Sunita Tools IPO Review (Avoid)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. Its performance so far is not in line with the asking price. The issue is aggressively priced discounting all near-term positives. The small equity base post-IPO indicates longer gestation for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review…
Sunita Tools IPO Subscription Status (Bidding Detail)
The Sunita Tools IPO is subscribed 13.24 times on Oct 3, 2023 7:02:00 PM. The public issue subscribed 21.10 times in the retail category, times in the QIB category, and 5.27 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 5.27 |
| Retail | 21.10 |
| Total | 13.24 |
Total Application : 17,418 (24.16 times)
Sunita Tools IPO Contact Details
Sunita Tools Limited
Survey No. 66, Plot No. A,
Valiv, Sativali Road, Vasai East,
Palghar, Thane – 401208
Phone: +91 9136019995
Email: info@sunitatools.com
Website: http://www.sunitatools.com/index.php
Sunita Tools IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: cpl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/