The Saakshi Medtech and Panels IPO is a book-built offering, aiming to raise Rs 45.16 crores through the issuance of 46.56 lakh fresh shares.
Here are the key details:
- Subscription Period: The Saakshi Medtech and Panels IPO opens for subscription on September 25, 2023, and closes on September 27, 2023.
- Allotment Date: The allotment for the Saakshi Medtech and Panels IPO is expected to be finalized on Tuesday, October 3, 2023.
- Listing Date: The shares from the Saakshi Medtech and Panels IPO are set to list on NSE SME, with a tentative listing date scheduled for Friday, October 6, 2023.
- IPO Price Band: The IPO price band for Saakshi Medtech and Panels is in the range of ₹92 to ₹97 per share.
- Lot Size: The minimum lot size for an application is 1200 shares.
- Minimum Investment: Retail investors are required to invest a minimum of ₹116,400 to participate in the IPO. For High Net Worth Individuals (HNIs), the minimum investment is 2 lots, equivalent to 2,400 shares, amounting to ₹232,800.
- Key Players: Hem Securities Limited is the book running lead manager for the Saakshi Medtech and Panels IPO, while Bigshare Services Pvt Ltd serves as the registrar for the issue.
These details provide valuable information for investors looking to participate in the Saakshi Medtech and Panels IPO, enabling them to make informed decisions.
IPO Details #
| IPO Date | September 25, 2023 to September 27, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹92 to ₹97 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,656,000 shares (aggregating up to ₹45.16 Cr) |
| Fresh Issue | 4,656,000 shares (aggregating up to ₹45.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 13,000,000 |
| Share holding post issue | 17,656,000 |
| Market Maker portion | 235,200 shares |
IPO Reservation #
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
IPO Timeline (Tentative Schedule) #
Saakshi Medtech and Panels IPO opens on September 25, 2023, and closes on September 27, 2023.
| IPO Open Date | Monday, September 25, 2023 |
| IPO Close Date | Wednesday, September 27, 2023 |
| Basis of Allotment | Tuesday, October 3, 2023 |
| Initiation of Refunds | Wednesday, October 4, 2023 |
| Credit of Shares to Demat | Thursday, October 5, 2023 |
| Listing Date | Friday, October 6, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2023 |
IPO Lot Size #
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹116,400 |
| Retail (Max) | 1 | 1200 | ₹116,400 |
| HNI (Min) | 2 | 2,400 | ₹232,800 |
| Lot Size Calculator | |||
IPO Promoter Holding #
Mr. Aniket Vijay Latkar and Ms. Chitra Vijay Latkar are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
About Saakshi Medtech and Panels IPO #
Incorporated in 2001, Saakshi Medtech and Panels Private Limited is engaged in the designing, programing, and assembling of Electrical Control Panels and Cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems.
The company manufactures:
- Electrical Control Panels and Cabinets used in elevators, air compressors, the renewal energy industry, the oil & gas exploration industry, electrical vehicle charging stations, etc.;
- Medical X-ray systems used in the healthcare industry;
- Fabrication works for locomotives; and
- Wire harness division for electrical control panels and for supply to the air compressor industry.
Saakshi Medtech and Panels’ has three manufacturing units in Pune, Maharashtra, with a total built-up area of approx. 9600 sq mtr.
The company has been awarded the Best Delivery Performance Award for 2010 – from Atlas Copco Ltd, Pune, Best EHS Award for 2013 from Atlas Copco Ltd, Pune, Awarded by Healthcare Innovation Centre (HIC) as the NPI Development Partner Award from Philips in 2015, Recognized as Productivity Partner in MMF Strategic Business Partnership Conclave 2021 by the GE Group, and Recognition certification of Zero Defect Zero Effect from MSME India.
The company recorded Rs. 8,723.00 Lacs in revenue from operations for the period ended December 31, 2022, Rs. 9,157.78 Lacs in fiscal 2022, and Rs. 5,977.39 in fiscal 2021.
Company Financials #
| Period Ended | 31 Mar 2020 | 31 Mar 2021 | 31 Mar 2022 | 31 Dec 2022 |
| Assets | 4,836.69 | 5,571.02 | 6,491.66 | 8,990.82 |
| Revenue | 6,170.99 | 6,022.17 | 9,169.35 | 8,727.87 |
| Profit After Tax | 578.76 | 210.49 | 932.21 | 820.76 |
| Net Worth | 1,803.37 | 2,013.86 | 2,946.08 | 3,766.84 |
| Reserves and Surplus | 1,543.37 | 1,753.86 | 2,686.08 | 3,506.84 |
| Total Borrowing | 1,899.24 | 2,199.44 | 1,635.78 | 2,160.70 |
Key Performance Indicator #
| KPI | Values |
|---|---|
| P/E (x) | 10.18 |
| ROCE | 28.57% |
| RoNW | 29.32% |
Objects of the Issue (IPO Objectives) #
The Net Proceeds are proposed to be used in accordance with the details as set forth below:
- Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
- Repayment in full or in part, of certain of the company’s outstanding borrowings.
- Funding Capital Expenditure towards the installation of additional plant and machinery.
- Funding to meet working capital requirements.
- General Corporate Purpose.
IPO Prospectus #
IPO Contact Details #
Plot No. EL-23, J Block,
MIDC Industrial Area,
Bhosari, Pune- 411026
Phone: +91- 02039854400
Email: info@smtpl.co
Website: https://www.smtpl.co/index.html
IPO Registrar #
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
FAQs
What is the total issue size of the Saakshi Medtech and Panels IPO? #
The Saakshi Medtech and Panels IPO aims to raise ₹45.16 crores through the issuance of 46.56 lakh fresh shares.
When does the Saakshi Medtech and Panels IPO subscription period start and end? #
The subscription period for the Saakshi Medtech and Panels IPO begins on September 25, 2023, and closes on September 27, 2023.
When will the allotment for the Saakshi Medtech and Panels IPO be finalized? #
The allotment for the Saakshi Medtech and Panels IPO is expected to be finalized on Tuesday, October 3, 2023.
When is the listing date for shares from the Saakshi Medtech and Panels IPO? #
The shares from the Saakshi Medtech and Panels IPO are tentatively scheduled to list on NSE SME on Friday, October 6, 2023.
What is the IPO price band for Saakshi Medtech and Panels shares? #
The IPO price band for Saakshi Medtech and Panels is in the range of ₹92 to ₹97 per share.
What is the minimum lot size for an application in the Saakshi Medtech and Panels IPO? #
The minimum lot size for an application in the Saakshi Medtech and Panels IPO is 1200 shares.
Who are the key players involved in the Saakshi Medtech and Panels IPO? #
Hem Securities Limited is the book running lead manager for the Saakshi Medtech and Panels IPO, while Bigshare Services Pvt Ltd serves as the registrar for the issue.
Who are the promoters of Saakshi Medtech and Panels Limited? #
Mr. Aniket Vijay Latkar and Ms. Chitra Vijay Latkar are the promoters of the company.
What are the key financial indicators of Saakshi Medtech and Panels Limited as of December 31, 2022? #
Price/Earnings (P/E) Ratio: 10.18
Return on Capital Employed (ROCE): 28.57%
Return on Net Worth (RoNW): 29.32%
What are the objectives of the Saakshi Medtech and Panels IPO? #
The objectives of the Saakshi Medtech and Panels IPO are:
Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
Repayment in full or in part, of certain of the company’s outstanding borrowings.
Funding Capital Expenditure towards the installation of additional plant and machinery.
Funding to meet working capital requirements.
General Corporate Purpose.
Please note that the information provided in the FAQs is based on the data available. For the latest updates and detailed information, please refer to the official sources and the prospectus.
