Aspire & Innovative IPO bidding started from March 26, 2024 and ended on March 28, 2024.
Aspire & Innovative IPO is a book built issue of Rs 21.97 crores. The issue is entirely a fresh issue of 40.68 lakh shares.The allotment for the Aspire & Innovative IPO is expected to be finalized on Monday, April 1, 2024. Aspire & Innovative IPO will list on NSE SME with tentative listing date fixed as Wednesday, April 3, 2024.
Aspire & Innovative IPO price band is set at ₹51 to ₹54 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹108,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹216,000.
Hem Securities Limited is the book running lead manager of the Aspire & Innovative IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Aspire & Innovative IPO is Hem Finlease.
Aspire & Innovative IPO Details
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹54 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,068,000 shares(aggregating up to ₹21.97 Cr) |
| Fresh Issue | 4,068,000 shares |
| (aggregating up to ₹21.97 Cr) | Issue Type |
| Listing At | NSE SME |
| Share holding pre issue | 11,110,000 |
| Share holding post issue | 15,178,000 |
| Market Maker portion | 204,000 shares |
Aspire & Innovative IPO Timeline (Tentative Schedule)
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Aspire & Innovative IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,156,000 (28.42%) |
| Market Maker Shares Offered | 204,000 (5.01%) |
| QIB Shares Offered | 774,000 (19.03%) |
| NII (HNI) Shares Offered | 580,000 (14.26%) |
| Retail Shares Offered | 1,354,000 (33.28%) |
| Total Shares Offered | 4,068,000 (100%) |
Aspire & Innovative IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹108,000 |
| Retail (Max) | 1 | 2000 | ₹108,000 |
| HNI (Min) | 2 | 4,000 | ₹216,000 |
Aspire & Innovative IPO Anchor Investors Details
| Bid Date | March 22, 2024 |
|---|---|
| Shares Offered | 1,156,000 |
| Anchor Portion Size (In Cr.) | 6.24 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 30, 2024 |
Aspire & Innovative IPO Promoter Holding
| Share Holding Pre Issue | 98.84% |
| Share Holding Post Issue | 72.35% |
Aspire & Innovative Advertising Limited Financial Information (Restated Standalone)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,135.72 | 6,256.99 | 5,328.01 | 3,492.07 |
| Revenue | 17,710.29 | 34,620.10 | 25,558.30 | 10,833.44 |
| Profit After Tax | 393.28 | 530.85 | 437.36 | 227.75 |
| Net Worth | 1,944.53 | 1,551.25 | 1,020.39 | 520.98 |
| Reserves and Surplus | 833.53 | 1,440.15 | 909.29 | 519.98 |
| Total Borrowing | 1,160.89 | 881.53 | 111.02 | 55.91 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 22.50% |
| ROCE | 18.59% |
| Debt/Equity | 0.6 |
| RoNW | 20.22% |
| P/BV | 3.09 |
| PAT Margin (%) | 2.23 |
About Aspire & Innovative Advertising Limited
Founded in 2017, Aspire & Innovative Advertising Limited deals in consumer durables, including kitchen appliances, home appliances, white goods, mobile phones and accessories, solar products, and more. They deal in products from renowned brands such as Bajaj, Prestige, Vivo, Samsung, Crompton, Whirlpool, Hindware, Havells, and many others.
The company’s asset-light model incurs expenses for facilitation fees and commission paid to intermediaries. They provide services such as marketing, field staff interaction, demand collation, and financial services to customers in rural and semi-urban communities.
The company offers 50+ products, including cookware, electronics, and appliances such as pressure cookers, induction cooktops, mixer-grinders, dinner sets, sewing machines, fans, irons, bulbs, heaters, phones, TVs, refrigerators, washing machines, headphones, and solar lanterns.
The company has commercial arrangements with 15+ intermediaries and operates 19 warehouses in 16 states.
As of November 30, 2023, the company has 49 full-time employees, including managers.
Aspire & Innovative Advertising Limited Contact Details
C-4 Baldev Park
Shahdara
East Delhi -110051,
Phone: +91-124-2213055
Email: cs@aspireinnovate.in
Website: https://www.aspireinnovate.in/Read More:- GConnect Logitech and Supply Chain Limited IPO of Rs 5.60 crores (GConnect Logitech IPO) Detail
