Pritika Engineering IPO

Current

Subscription Details

  • Open Date 25 Nov
  • Close Date 30 Nov
  • 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

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.

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?

  • 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

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

Address

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

Address

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