Esprit Stones IPO
IPO Listing Details
- Listing Date
02 Aug 2024
- Listing Price
₹ 93.15
- Listing Change
7.07%
- Last Traded Price
₹ 122.70
IPO Details
- Open Date
26 Jul 2024
- Close Date
30 Jul 2024
- IPO Price Range
₹ 82 to ₹ 87
- IPO Size
₹ 50.42 Cr
- Listing Exchange
NSE SME
- Listing Date
02 Aug 2024
IPO Timeline
Esprit Stones IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 26-Jul-2024 | 0.00 | 1.45 | 3.64 | 2.07 |
| 29-Jul-2024 | 3.50 | 15.60 | 27.44 | 17.49 |
| 30-Jul-2024 | 117.63 | 399.58 | 145.75 | 185.82 |
Last Updated: 30 July 2024 6:10 PM by 5Paisa
Last Updated: 30th July 2024, 18:00 PM by 5paisa
Esprit Stones IPO is set to open on 26 July 2024 and will close on 30 July 2024. The company specializes in engineered quartz and marble surfaces.
The IPO includes a fresh issue of 57,95,200 shares aggregating up to ₹50.42 Cr. The price range is ₹82 to ₹87 per share and the lot size is 1600 shares.
The allotment is scheduled to be finalized on 31 July 2024. It will go public on NSE SME, with a tentative listing date of 2 August 2024.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors Llp are the book-running lead managers, while Link Intime India Private Ltd is the registrar.
Objectives Of Esprit Stones IPO
1. Funding Working Capital requirement.
2. Investment in the Subsidiary, Haique Stones Private Limited, for repayment and / or prepayment in part or full of its outstanding borrowings.
3. Investment in the Subsidiary, Haique Stones Private Limited for funding its Working Capital Requirement.
4. General Corporate Purpose.
Esprit Stones IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 50.42 |
| Offer for sale | - |
| Fresh issue | 50.42 |
Esprit Stones IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| S-HNI (Min) | 2 | 3,200 | ₹278,400 |
Esprit Stones IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 117.63 | 10,75,200 | 12,64,73,600 | 1,100.32 |
| NII (HNI) | 399.58 | 8,06,400 | 32,22,22,400 | 2,803.33 |
| Retail | 145.75 | 18,81,600 | 27,42,46,400 | 2,385.94 |
| Total | 185.82 | 38,91,200 | 72,30,72,000 | 6,290.73 |
Esprit Stones IPO Anchor Allocation
| Anchor Bid Date | 25 July, 2024 |
| Total no. of shares offered | 1,612,800 |
| Portion Size for Anchor Investors | 14.03 Cr. |
| Lock in Period for 50% shares (30 days) | 30 August, 2024 |
| Lock in Period for rest of shares (90 days) | 29 October, 2024 |
Esprit Stones Limited was founded in 2016 and specializes in engineered quartz and marble surfaces.
By March 2024, their Manufacturing Facility I will have three pressing lines and two polishing lines, with a total yearly production capacity of roughly 7.2 million square feet. Manufacturing Facility II was also commissioned to create quartz grit and quartz powder, which are required raw materials for engineered quartz manufacturing. The company's third production unit manufactures unsaturated polyester resin.
Esprit Stones Limited is certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard.
For more information
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue from operations | 274.78 | 176.07 | 190.03 |
| EBITDA | 14.10 | 5.31 | 23.67 |
| PAT | 10.32 | 3.56 | 18.51 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 274.59 | 238.02 | 180.70 |
| Share Capital | 16.15 | 9.50 | 9.50 |
| Total Borrowings | 125.42 | 118.80 | 57.99 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 14.23 | -28.52 | 20.39 |
| Net cash from / (used in) investing activities | -11.29 | -26.41 | -25.28 |
| Net cash flow from / (used in) financing activities | -3.39 | 54.28 | 5.52 |
| Net increase (decrease) in cash and cash equivalents | -0.45 | -0.65 | 0.63 |
Strengths
1. Esprit Stones Limited manufactures both engineered quartz and marble surfaces, catering to a broad market segment.
2. The company’s Manufacturing Facility I, equipped with three pressing lines and two polishing lines.
3. Manufacturing Facility II for quartz grit and powder production, showcases advanced capabilities.
4. By producing quartz grit and quartz powder in-house, Esprit Stones ensures a steady supply of high-quality raw materials for its engineered quartz surfaces.
5. The company holds multiple certifications, including ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard.
Risks
1. The engineered quartz and marble surfaces market is highly competitive.
2. Demand for construction materials like quartz and marble surfaces is closely tied to the real estate and construction sectors.
3. Although vertically integrated, Esprit Stones are still susceptible to disruptions in the supply chain.
4. Adhering to environmental, safety, and quality regulations can be costly and complex.
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FAQs
Esprit Stones IPO opens from 26th July to 30th July 2024.
The size of Esprit Stones IPO is ₹50.42 Cr.
The price of Esprit Stones IPO is fixed at ₹82 to ₹87 per share.
To apply for Esprit Stones 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 the price at which you wish to apply for the Esprit Stones IPO.
● 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.
The minimum lot size of Esprit Stones IPO is 1600 shares and the investment required is ₹1,39,200.
The share allotment date of Esprit Stones IPO is 31st July 2024
The Esprit Stones IPO will be listed on 2nd August 2024.
Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors Llp are the book-running lead managers for Esprit Stones IPO.
Esprit Stones plans to utilize the raised capital from the IPO for:
1. Funding Working Capital requirement.
2. Investment in the Subsidiary, Haique Stones Private Limited, for repayment and / or prepayment in part or full of its outstanding borrowings.
3. Investment in the Subsidiary, Haique Stones Private Limited for funding its Working Capital Requirement.
4. General Corporate Purpose.
Contact Information
Esprit Stones
Esprit Stones Limited
SP1, Udyog Vihar, Sukher
Industrial Area,
Udaipur- 313 004,
Phone: +91 91166 52582
Email: legal@espritstones.com
Website: https://espritstones.com/
Esprit Stones IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: jinesh@srujanalpha.com
Website: https://linkintime.co.in/initial_offer/public-issues.html
Esprit Stones IPO Lead Manager
Choice Capital Advisors Pvt Ltd
Srujan Alpha Capital Advisors Llp
