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shri techtex ipo

Shri Techtex IPO

  • Status: Closed
  • RHP:
  • ₹ 108,000 / 2000 shares

    Minimum Investment

IPO Details

  • Open Date

    26 Jul 2023

  • Close Date

    28 Jul 2023

  • IPO Price Range

    ₹ 54 to ₹ 61

  • IPO Size

    ₹ 45.14 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    07 Aug 2023

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IPO Timeline

Shri Techtex IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Shri Techtex IPO is all set to open from 26th July to 28th July 2023. Shri Techtex Limited produces Polypropylene (PP) Non-Woven Fabric, offering a diverse range of sizes and densities. The company is launching a fresh issue of 74,00,000 equity shares (worth ₹45.14 Cr). The share allotment date is 2nd August, and the IPO will be listed on 7th August on NSE SME. The price band of this SME IPO is ₹54 to ₹61 with a lot size of 2000 shares. 

Beeline Capital Advisors Private Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of the Shri Techtex IPO:

Shri Techtex plans to utilize the raised capital from IPO to:
●    Construction of Factory Shed
●    Establish a Solar Plant
●    Procuring Machinery and Equipment
●    Fulfilling Working Capital Needs
●    Supporting General Corporate Activities
●    Covering Public Issue Expenses
 

Established in 2011, Shri Techtex specializes in the production of Polypropylene (PP) Non-Woven Fabric, catering to a wide range of industries that require disposable or single-use products. These industries include organic farming, hospitals, healthcare, nursing homes, home furnishing, vehicle upholstery seat fabrication, mattress & furniture covering, ecological packaging, as well as industrial and consumer goods. Their PP non-woven fabric comes in various sizes and densities, with the current range spanning up to 4.5 meters in size and 15 GSM to 800 GSM.

Located in Simaj of Dholka Taluka, within the Ahmedabad District of Gujarat, the company's manufacturing facility covers an expansive area of 41548 sq. meters. The facility has a robust manufacturing capacity of 3600 MT of PP non-woven fabric per annum, ensuring a steady supply to meet market demands.

Peer Comparison
●    Garware Technical Fabrics Limited
●    Shubham Polyspin Limited

For More Information:
Shri Techtex IPO Allotment Status
Webstory on Shri Techtex IPO
Shri Techtex IPO GMP

 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 59.92 51.18 39.47
EBITDA 46.46 41.19 23.43
PAT 9.11 8.27 12.66
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 73.86 52.82 46.52
Share Capital - - -
Total Borrowings 43.75 31.81 25.73
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -7.60 21.75 3.55 
Net cash from / (used in) investing activities -3.20 -13.48 -13.93
Net cash flow from / (used in) financing activities 11.35 -8.56 10.64
Net increase (decrease) in cash and cash equivalents 0.55 -0.29 0.26


Strengths

1.    Shri Techtex specializes in the production of Polypropylene (PP) Non-Woven Fabric and caters to a variety of industries such as Horticulture, Geotextile, Construction, Furniture, Healthcare, and more.
2.    Less dependence on a single sector or industry helps the company diversify its client portfolio. 
3.    The company has experienced consistent and strong growth in both revenue and profitability over the past financial years. 
4.    It is committed to expanding its product line.
5.    The company is strategizing to introduce new ventures, namely the manufacturing of Hot Melt Coating Lamination and PP Multifilament Yarn.
 

Risks

1.    The Company, its Directors, Promoter, and LLP are currently involved in ongoing legal proceedings.
2.    Its operations require significant working capital.
3.    There is a risk arising from foreign exchange fluctuations on the purchase of machinery out of issue proceeds.
4.    The Company has certain contingent liabilities, such as bank guarantees and capital commitments. It has also availed unsecured loans that are repayable on demand.
5.    The company has incurred substantial indebtedness, which can affect its operations. 
6.    Potential conflicts of interest may arise due to Promoters and Promoters’ Group entities being involved in similar business activities that compete with or are in the same line of activity as the company’s operations.
7.    Discrepancies and non-compliances have been noticed in some of the corporate records related to filing or returns and deposit of statutory dues with the concerned statutory authorities.
 

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FAQs

Shri Techtex IPO lot size is 2000 equity shares, and the minimum investment required is ₹1,08,000. 
 

The price band of Shri Techtex IPO is ₹54 to ₹61.

Shri Techtex IPO opens on 26th July and closes on 28th July 2023.
 

Shri Techtex IPO plans to issue a fresh issue of 74,00,000 equity shares (worth ₹45.14 Cr). 
 

The allotment date of Shri Techtex IPO is 2nd August 2023. 

The listing date of Shri Techtex IPO is 7th August 2023. 

Beeline Capital Advisors Private Limited is the book-running lead manager for Shri Techtex IPO.

Shri Techtex plans to utilize the raised capital from IPO to:

●    Construction of Factory Shed
●    Establish a Solar Plant
●    Procuring Machinery and Equipment
●    Fulfilling Working Capital Needs
●    Supporting General Corporate Activities
●    Covering Public Issue Expenses
 

To apply for the Shri Techtex 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 Shri Techtex 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.