Trom Industries IPO is a book built issue of Rs 31.37 crores. The issue is entirely a fresh issue of 27.28 lakh shares.
Trom Industries IPO bidding started from July 25, 2024 and ended on July 29, 2024. The allotment for the Trom Industries IPO is expected to be finalized on Tuesday, July 30, 2024. Trom Industries IPO will list on NSE SME with tentative listing date fixed as Thursday, August 1, 2024.
Trom Industries IPO price band is set at ₹100 to ₹115 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹138,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹276,000.
Expert Global Consultants Private Limited is the book running lead manager of the Trom Industries IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Trom Industries IPO is Sunflower Broking.
Refer to Trom Industries IPO RHP for detailed information.
Trom Industries IPO Details
| IPO Date | July 25, 2024 to July 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹115 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,727,600 shares (aggregating up to ₹31.37 Cr) |
| Fresh Issue | 2,727,600 shares (aggregating up to ₹31.37 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 6,467,266 |
| Share holding post issue | 9,194,866 |
| Market Maker portion | 136,800 shares Sunflower Broking |
Trom Industries IPO Reservation
Trom Industries IPO offers 2,727,600 shares. 518,400 (19.01%) to QIB, 388,800 (14.25%) to NII, 907,200 (33.26%) to RII and 776,400 (28.46%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 776,400 (28.46%) |
| Market Maker Shares Offered | 136,800 (5.02%) |
| QIB Shares Offered | 518,400 (19.01%) |
| NII (HNI) Shares Offered | 388,800 (14.25%) |
| Retail Shares Offered | 907,200 (33.26%) |
| Total Shares Offered | 2,727,600 (100%) |
Trom Industries IPO Anchor Investors Details
Trom Industries IPO raises Rs 8.93 crore from anchor investors. Trom Industries IPO Anchor bid date is July 24, 2024. Trom Industries IPO Anchor Investors list
| Bid Date | July 24, 2024 |
| Shares Offered | 776,400 |
| Anchor Portion Size (In Cr.) | 8.93 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 29, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 28, 2024 |
Trom Industries IPO Timeline (Tentative Schedule)
Trom Industries IPO opens on July 25, 2024, and closes on July 29, 2024.
| IPO Open Date | Thursday, July 25, 2024 |
| IPO Close Date | Monday, July 29, 2024 |
| Basis of Allotment | Tuesday, July 30, 2024 |
| Initiation of Refunds | Wednesday, July 31, 2024 |
| Credit of Shares to Demat | Wednesday, July 31, 2024 |
| Listing Date | Thursday, August 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 29, 2024 |
Trom Industries 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 | ₹138,000 |
| Retail (Max) | 1 | 1200 | ₹138,000 |
| HNI (Min) | 2 | 2,400 | ₹276,000 |
| Lot Size Calculator | |||
Trom Industries IPO Promoter Holding
Jignesh Patel and Pankaj Pawar are the company’s promoters.
| Share Holding Pre Issue | 98.84% |
| Share Holding Post Issue | 69.52% |
About Trom Industries Limited
Founded in 2011, Trom Industries Limited is a solar EPC (Engineering, Procurement and Construction) company specializing in residential solar rooftop systems, industrial solar power plants, ground-mounted solar power plants, and solar street lights.
Trom Industries’ business segments include:
- Residential rooftop installations: The company designs and implements solar systems customized for individual homes.
- Installations for the industrial sector: The company plans and builds large-scale solar power plants for industrial needs.
- Ground-mounted solar power plants: This involves the development of ground-mounted solar collectors.
- Supply and installation of solar street lights for public and commercial areas.
The company’s product portfolio includes (1) solar products: Solar street lights, solar freezers, off-grid solar systems, solar home lights, solar water purifiers, and solar water pumps, and (2) AC LED lights: AC LED street lights and AC LED flood lights.
As of March 01, 2024, the Company had 31 employees, including directors and key management personnel.
Trom Industries Limited Financial Information (Restated)
Trom Industries Limited’s revenue increased by 125.98% and profit after tax (PAT) rose by 1885.2% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 2,919.93 | 2,155.35 | 1,854.32 |
| Revenue | 5,454.68 | 2,413.80 | 3,056.55 |
| Profit After Tax | 572.93 | 28.86 | 35.98 |
| Net Worth | 1,222.57 | 249.92 | 221.12 |
| Reserves and Surplus | 575.84 | 248.92 | 220.12 |
| Total Borrowing | 573.71 | 492.82 | 85.66 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of Trom Industries IPO is Rs 105.74 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 77.82% |
| ROCE | 47.11% |
| Debt/Equity | 0.47 |
| RoNW | 77.82% |
| P/BV | 6.08 |
| PAT Margin (%) | 10.54 |
Check Trom Industries IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.86 | 6.23 |
| P/E (x) | 12.98 | 18.46 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Trom Industries IPO Objectives)
The company intends to utilize the proceeds of the issue to meet the following objects:
- Funding of capital expenditure requirements of the Company towards set up of Solar Power Plant;
- To meet the working capital requirements; and
- General corporate purposes.
Trom Industries IPO Review (Apply)
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It posted inconsistency in its top and bottom lines and marked super earnings for FY24. Based on this super earnings, the issue appears reasonably priced. FY24 earnings indicates the likely trends going forward. Investors may park funds for the medium to long term. Read detail review…
Trom Industries IPO Subscription Status (Bidding Detail)
The Trom Industries IPO is subscribed 459.00 times on July 29, 2024 6:19:02 PM. The public issue subscribed 483.14 times in the retail category, 197.07 times in the QIB category, and 751.90 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 197.07 |
| NII | 751.90 |
| Retail | 483.14 |
| Total | 459.00 |
Total Application : 365,255 (483.14 times)
Trom Industries IPO Prospectus
Trom Industries Limited Contact Details
Trom Industries Limited
4th Floor, 421, Pramukh Tangent,
NR. Sargasan Cross Road,
Gandhinagar – 382421
Phone: +91-079 29656678
Email: info@tromindustries.com
Website: http://www.tromindustries.com/
Trom Industries IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bil.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/