Pritika Engineering IPO
Listing Details
- Listing Exchange -
- Listing Date 08-Dec-22
- IPO Price Range ₹ 29
- Listing Price ₹ 42.2
- Listing Change 45.5%
- Last Traded Price ₹ 71.5
- Current Change 146.6%
IPO Details
- Open Date 25-Nov-23
- Close Date 30-Nov-23
- IPO Size ₹ 9.42 Cr
- IPO Price Range ₹ 29
Pritika Engineering IPO Subscription Status
| Date | NII | Retail | TOTAL |
|---|---|---|---|
| 25-Nov-22 | 1.39x | 4.30x | 2.84x |
| 28-Nov-22 | 3.34x | 20.07x | 11.70x |
| 29-Nov-22 | 8.11x | 49.83x | 28.97x |
| 30-Nov-22 | 144.30x | 168.46x | 156.38x |
IPO Synopsis
Pritika Engineering Components IPO opens on Nov 25, 2022, and closes on Nov 30, 2022. The issue consists of issuance of 32,48,000 Equity Shares at Rs. 29 aggregating to Rs. 9.42 crores. The lot size is fixed at 4000. The shares will be allotted on 5th December while the issue will be allotted on 8th December. The company is promoted by Pritika Auto Industries Limited.
The issue constitutes 29.85% of the post-issue paid-up capital of the company. PECL is spending Rs. 1.85 cr. for this IPO process. The sole lead manager for this issue is GYR Capital Advisors Pvt. Ltd. (erstwhile known as Alpha Numero Services Pvt. Ltd.)
Objective of the Pritika Engineering Components IPO
The net proceeds from the issue will be used for:
• Investment in relation to the new unit set up by the wholly owned subsidiary, Meeta Castings Limited (MCL).
• General Corporate purposes
About Pritika Engineering
Pritika Engineering Components Private Limited caters to the tractor industry in the automotive sector with major dependency on Original Equipment Manufacturers. It is engaged in the business of manufacturing of precision machined components primarily for automotive industry, especially for tractors, trucks, and other commercial vehicles, etc.
he company Company manufactures various Tractors & Automobile components like End Cover, Cover Sealed Brake, Differential Case, Cover Hydraulic Lift, Cover Transcase, Front Wheel hub, Fly Wheel Housing, Rear Axle Casings, Hydraulic Lift Covers, Brake Housing & Front Engine Supports etc.
In FY22, the company manufactured 6619 MT with an installed capacity of 12000 MT. It aims to to be First choice among Original Equipment’s Manufactures for Machined Castings & to be One of the Largest Producers of Machined Castings in India; Mission to Produce 35,000 MT of Machined Castings by Year 2025.
The company was previously listed on Calcutta Stock Exchange and the same was directly listed on the Bombay stock exchange dated October 01, 2015. The company intended to get directly listed on the National Stock Exchange of India Limited through Direct Listing, and received its listing approval dated August 10, 2021.
Pritika Engineering Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Revenue | 53.6 | 32.1 | 21.7 |
| EBITDA | 10.1 | 3.5 | 2.6 |
| PAT | 5.5 | 0.4 | 0.1 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Total Assets | 71.1 | 55.9 | 41.3 |
| Share Capital | 7.6 | 6.6 | 5.0 |
| Total Borrowings | 16.9 | 16.7 | 16.6 |
| Particulars (in Rs. Crores) | FY22 | FY21 | FY20 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 0.5 | 2.5 | 0.9 |
| Net cash from / (used in) investing activities | -4.3 | -10.8 | -5.4 |
| Net cash flow from / (used in) financing activities | 4.0 | 8.3 | 4.5 |
| Net increase (decrease) in cash and cash equivalents | 0.2 | 0.1 | 0.0 |
Peer Comparison
| Name of the Company | Total Revenue | Basic EPS | Nav Rs. per share | PE | RoNW% |
|---|---|---|---|---|---|
| Pritika Engineering Components Limited | 43.35 | 2.36 | 24 | 12.29 | 9.83% |
| Nelcast Limited | 631.21 | 2.29 | 53 | 34.45 | 4.32% |
| Bhagwati Autocast Limited | 87.20 | 3.35 | 108 | 60.18 | 19.39% |
IPO Key Points
-
Strengths
● Quality standards
● Wide product range and product segments
● Legacy Business Process & Management -
Risks
● Changes in laws and regulations relating to the sectors/areas in which it operates
● Inability to identify the new premises may adversely affect the operations, finances and profitability of the Company
● Uncertainty regarding the market, land prices, economic conditions and other factors beyond its control
● Inability to identify or effectively respond to consumer needs, expectations or trends in a timely manner
● Changes in government policies and regulatory actions
How to apply for IPO?
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IPO FAQs
What is the minimum lot size and investment required for the Pritika Engineering Components IPO?
The Pritika Engineering Components IPO lot size is 4000 shares per lot. A retail-individual investor can apply for up to 1 lot (4000 shares or ₹116,000)
What is the price band of the IPO?
The price of the IPO is Rs. 29 per share.
When does the Pritika Engineering Components issue open and close?
The Pritika Engineering Components issue opens on 25th November and closes on 30th November.
What is the size of Pritika Engineering Components IPO issue?
The IPO issue consists of the issue consists of issuance of 32,48,000 Equity Shares.
Who are the promoters/key personnels of Pritika Engineering Components?
Pritika Engineering Components is promoted by Pritika Auto Industries Limited.
What is the allotment date of Pritika Engineering Components IPO?
The allotment date of the Pritika Engineering Components IPO is 5th December.
What is the Pritika Engineering Components IPO listing date?
The listing date for the issue is 8th December.
Who are the book runners for Pritika Engineering Components IPO?
Who are the book runners for Pritika Engineering Components IPO?
Contact Details of Pritika Engineering IPO
Contact Information
Pritika Engineering Components Limited
Plot No. C-94,
Phase-VII Industrial Focal Point,
S.A.S Nagar, Mohali, Punjab 160055
Phone: +91 9878723399
Email: compliance.pecl@pritikagroup.com
Website: http://www.pritikaengineering.com/index.html
Pritika Engineering IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: pritikaengineering.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Pritika Engineering IPO Lead Manager
GYR Capital Advisors Limited