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.
Pattech Fitwell Tube Components Financial Status
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
Open account in 5 minutes
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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