Pattech Fitwell Tube Components IPO

Pattech Fitwell Tube Components IPO

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Listing Details

  • Listing Exchange NSE SME
  • Listing Date 21-Apr-23
  • IPO Price Range ₹ 50
  • Listing Price ₹ 55
  • Listing Change 10.0%
  • Last Traded Price ₹ 54.15
  • Current Change 8.3%

Pattech Fitwell Tube IPO Details

  • Open Date 05-Apr-23
  • Close Date 12-Apr-23
  • Lot Size 3000
  • IPO Size ₹ 12.00 Cr
  • IPO Price Range ₹ 50
  • Min Investment ₹ 150000
  • Listing Exchange NSE SME
  • Basis of Allotment 18-Apr-23
  • Refunds 19-Apr-23
  • Credit to Demat Account 20-Apr-23
  • Listing Date 21-Apr-23

Pattech Fitwell Tube Components IPO Subscription Status

Date QIB NII Retail TOTAL
5-Apr-23 - 1.19x 0.06x 0.62x
6-Apr-23 - 1.38x 0.18x 0.78x
10-Apr-23 - 1.70x 0.45x 1.07x
11-Apr-23 - 1.75x 1.24x 1.49x
12-Apr-23 - 2.05x 1.89x 1.97x

Pattech Fitwell Tube IPO Synopsis

Pattech Fitwell Tube Components, a manufacturer of forging products for the non-automotive sector’s IPO worth Rs. 12 crores opens on 5th April and closes on 12th April. 
The issue consists of a fresh issue of equity shares aggregating to ₹12 crores. The price band for the issue is fixed at Rs. 50 per share while the GMP premium is trading at Rs. 5. The lot size is set for 3000 shares per lot. The shares will be allotted on the 18th of April and the issue will be listed on the 21st of April on the stock exchanges. 

The book running lead managers to the offer namely, Fedex Securities Ltd

Objective of the Pattech Fitwell Tube Components IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
1.    Funding our working capital requirements;
2.    General corporate purposes
 

About Pattech Fitwell Tube Components

Pattech Fitwell Tube Components Limited was founded in 2022, but its journey began in the year 2012, a decade earlier. The business manufactures forging products for industries other than the automotive one.

Pattech Fitwell has a total installed capacity of 14104.13 MTPA for manufacturing forged flanges, complex and specialized machined components, and welded assemblies in the area of open die forgings. By performing various value-added processes like forming, bending, drilling, cutting, inspection, polishing, painting, blasting, welding, punching, marking, testing, and packaging, they turn semifinished/raw products into finished products.
 

 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue from operations 22.63 18.45 20.39
EBITDA 20.7 18.48 20.25
PAT 1.44 -0.01 0.08
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 25.30 13.86 11.55
Share Capital 5.63 3.21 1.90
Total Borrowings 16.63 9.76 8.67
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 2.51 1.14 1.71
Net cash from / (used in) investing activities -9.84 -2.88 -2.91
Net cash flow from / (used in) financing activities 7.33 1.71 1.16
Net increase (decrease) in cash and cash equivalents 0.001 -0.0279 -0.0357

Peer Comparison

There are no listed companies in India that engage in a business similar to that of the company. 


Pattech Fitwell Tube IPO Key Points

  • Strengths

    Diversified Product portfolio; 

    Experienced Management & Promoters; 

    Well Established Manufacturing Facility designed to serve multiple products range 
     

  • Risks

    The company is highly dependent on its suppliers for an uninterrupted supply of raw materials. It has not entered into any long-term supply agreement for the major raw materials required for the manufacturing of its products. Also, volatility in the prices and non-availability of these raw materials may hurt its business prospects, results of operations, and financial condition.

    The Company, Promoter, and Directors are involved in certain litigation which is currently pending at various stages. Any adverse decisions in these cases against the Company, Promoter, and Director may impact the business and operations of the Company.

    In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits, and approvals required to operate its business it may have a material adverse effect on the business.

    The company depend on a limited number of customer for a significant portion of its revenue from the engineering business. The loss of any of its major customers due to any adverse development or significant reduction in business from its major customer may adversely affect our business, financial condition, results of operations, cash flow, and prospects.
     

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

Pattech Fitwell Tube IPO FAQs

What is the price band of the Pattech Fitwell Tube Components IPO?

The price band of the Pattech Fitwell Tube Components IPO is Rs. 50.

When does the Pattech Fitwell Tube Components issue open and close?

The IPO opens on April 5, 2023 and closes on April 12, 2023

What is the size of Pattech Fitwell Tube Components IPO issue?

The IPO comprise of a fresh issue of equity shares aggregating to ₹12 crores

What is the minimum lot size and investment required for the Pattech Fitwell Tube Components IPO?

The minimum lot size is 3000 shares for the Pattech Fitwell Tube Components IPO.

What is the allotment date of Pattech Fitwell Tube Components IPO ?

The allotment date of Pattech Fitwell Tube Components IPO is 18th April 2023 

What is the Pattech Fitwell Tube Components IPO listing date?

The Pattech Fitwell Tube Components IPO  listing date 21st April 2023

What is the objective of the issue?

The proceeds from the issue will be used for: 
1.    Funding its working capital requirements;
2.    General corporate purposes
 

How to apply for the Pattech Fitwell Tube Components IPO?

To apply for the IPO, follow the steps given below
●    Login to your 5paisa account and select the issue in the current IPO section
●    Enter the number of lots and price at which you wish to apply for
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
●    You will receive a mandate notification to block funds in your UPI app

Who are the promoters/key personnels of Pattech Fitwell Tube Components IPO?

Bharatbhai Jivrajbhai Limbani and Jaysukhbhai Popatbhai Limbani are the Promoters of our Company.

Who are the book runners for Pattech Fitwell Tube Components IPO?

Fedex Securities are the book running lead managers to the issue.

Contact Details of Pattech Fitwell Tube Components IPO

Contact Information

Pattech Fitwell Tube Components Limited

Survey No.873/B/1, RD No: 1, Ansons Limbani Estate
Nr. GETCO 66K.V. Sub Station, G.I.D.C, Por, N.H-08
Vadodara – 391243
Phone: (0265) 2830151
Email: cs@pftcpipefittings.com
Website: https://www.pftcpipefittings.com/

Pattech Fitwell Tube Components IPO Register

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/

Pattech Fitwell Tube Components IPO Lead Manager

Fedex Securities Limited