. The issue is entirely a fresh issue of 57.95 lakh shares. Esprit Stones IPO is a book built issue of Rs 50.42 crores
Esprit Stones IPO is open for subscription on July 26, 2024 and close today July 30, 2024. The allotment for the Esprit Stones IPO is expected to be finalized on Wednesday, July 31, 2024. Esprit Stones IPO will list on NSE SME with tentative listing date fixed as Friday, August 2, 2024.
Esprit Stones IPO price band is set at ₹82 to ₹87 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹139,200. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹278,400.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors Llp are the book running lead managers of the Esprit Stones IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Esprit Stones IPO is Choice Equity Broking.
About Esprit Stones Limited
Founded in 2016, Esprit Stones Limited manufactures engineered quartz and marble surfaces.
As of March 2024, the Manufacturing Facility I is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq.ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz.
The company manufactures unsaturated polyester resin, at the manufacturing facility three.
The company has been certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications.
Refer to Esprit Stones IPO RHP for detailed information.
Esprit Stones IPO Details
| IPO Date | July 26, 2024 to July 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,795,200 shares(aggregating up to ₹50.42 Cr) |
| Fresh Issue | 5,795,200 shares(aggregating up to ₹50.42 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 16,150,000 |
| Share holding post issue | 21,945,200 |
| Market Maker portion | 291,200 shares |
Esprit Stones IPO Reservation
Esprit Stones IPO offers 5,795,200 shares. 1,075,200 (18.55%) to QIB, 806,400 (13.91%) to NII, 1,881,600 (32.47%) to RII and 1,612,800 (27.83%) to Anchor investors.| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,612,800 (27.83%) |
| Market Maker Shares Offered | 291,200 (5.02%) |
| QIB Shares Offered | 1,075,200 (18.55%) |
| NII (HNI) Shares Offered | 806,400 (13.91%) |
| Retail Shares Offered | 1,881,600 (32.47%) |
| Total Shares Offered | 5,795,200 (100%) |
Esprit Stones IPO Anchor Investors Details
Esprit Stones IPO raises Rs 14.03 crore from anchor investors. Esprit Stones IPO Anchor bid date is July 25, 2024. Esprit Stones IPO Anchor Investors list| Bid Date | July 25, 2024 |
| Shares Offered | 1,612,800 |
| Anchor Portion Size (In Cr.) | 14.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 29, 2024 |
Esprit Stones IPO Timeline (Tentative Schedule)
Esprit Stones IPO opens on July 26, 2024, and closes on July 30, 2024.| IPO Open Date | Friday, July 26, 2024 |
| IPO Close Date | Tuesday, July 30, 2024 |
| Basis of Allotment | Wednesday, July 31, 2024 |
| Initiation of Refunds | Thursday, August 1, 2024 |
| Credit of Shares to Demat | Thursday, August 1, 2024 |
| Listing Date | Friday, August 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 30, 2024 |
Esprit Stones IPO Lot Size
Investors can bid for a minimum of 1600 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 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
Esprit Stones IPO Promoter Holding
The promoters of the Company are Sunilkumar Lunawath, Nitin Gattani, Pradeepkumar Lunawath, Sangeeta Gattani, Anushree Lunawath and Siddhanth Lunawath| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Esprit Stones Limited Financial Information (Restated)
Esprit Stones Limited's revenue increased by 56.07% and profit after tax (PAT) rose by 190.04% 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 | 27,459.35 | 23,802.24 | 18,069.74 |
| Revenue | 27,477.82 | 17,606.52 | 19,002.60 |
| Profit After Tax | 1,031.73 | 355.72 | 1,850.53 |
| Net Worth | 7,238.80 | 6,227.81 | 5,893.32 |
| Reserves and Surplus | 5,623.80 | 5,277.81 | 4,943.32 |
| Total Borrowing | 12,541.91 | 11,879.55 | 5,799.76 |
Key Performance Indicator
The market capitalization of Esprit Stones IPO is Rs 190.92 Cr.KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROCE | 12.39% |
| Debt/Equity | 1.72 |
| RoNW | 15.09% |
| P/BV | 1.94 |
| PAT Margin (%) | 3.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.39 | 4.7 |
| P/E (x) | 13.62 | 18.51 |
- 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 (Esprit Stones IPO Objectives)
The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue (“Net Proceeds”) are proposed to be utilised for the following objects:
- Funding Working Capital requirement of the Company
- Investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and / or prepayment in part or full of its outstanding borrowings
- Investment in the Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement
- General Corporate Purpose
Esprit Stones Limited Contact Details
SP1, Udyog Vihar, Sukher
Industrial Area,
Udaipur- 313 004,
Phone: +91 91166 52582
Email: legal@espritstones.com
Website: https://espritstones.com/
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