Presstonic Engineering IPO – A New SME IPO in the Market
The Presstonic Engineering IPO, with a fixed price issue of Rs 23.30 crores, is set to make its mark in the market. Here are the key details:
Important Dates
- IPO Date: December 11, 2023, to December 13, 2023
- Allotment Date: December 14, 2023
- Listing Date: Monday, December 18, 2023 (tentative)
Issue Details
- Issue Price: ₹72 per share
- Lot Size: 1600 Shares
- Total Issue Size: 3,236,800 shares (aggregating up to ₹23.30 Cr)
- Issue Type: Fixed Price Issue IPO
- Listing At: NSE SME
Investment Requirements
- Minimum Lot Size for Retail Investors: 1600 Shares (₹115,200 investment)
- Minimum Lot Size Investment for HNI: 2 lots (3,200 shares, ₹230,400)
Key Players
- Book Running Lead Manager: Finshore Management Services Limited
- Registrar: Cameo Corporate Services Limited
- Market Maker: Nikunj Stock Brokers
Reservation Details
- NII (Non-Institutional Investors): 1,537,600 shares (47.50%)
- RII (Retail Individual Investors): 1,536,000 shares (47.45%)
Presstonic Engineering IPO – Tentative Timeline and Lot Size
Timeline
| Event | Date |
|---|---|
| IPO Open Date | Monday, December 11, 2023 |
| IPO Close Date | Wednesday, December 13, 2023 |
| Basis of Allotment | Thursday, December 14, 2023 |
| Initiation of Refunds | Friday, December 15, 2023 |
| Credit of Shares to Demat | Friday, December 15, 2023 |
| Listing Date | Monday, December 18, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 13, 2023 |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹115,200 |
| Retail (Max) | 1 | 1600 | ₹115,200 |
| HNI (Min) | 2 | 3,200 | ₹230,400 |
Promoter Holding
The Promoters of the company are Mr. Herga Poornachandra Kedilaya and Mr. Yermal Giridhar Rao.
Share Holding Pre Issue: 99.97%
Share Holding Post Issue: 57.99%
Presstonic Engineering Limited Overview
About the Company
Incorporated in 1996, Presstonic Engineering Limited manufactures products for Metro Rail Rolling Stock, Metro Rail Signalling, and Infrastructure. Serving global and domestic OEMs, the company has a diverse product portfolio.
Product Portfolio
Metro Rail Rolling Stock Products:
- Rolling Stock Interior Products: Saloon Bucket/Plain Type Seat, Custom Colored Engineered Handles, Grab Pole System, Hand Rail System, Emergency Evacuation Ramp, Honeycomb Partition Panels, etc.
- Rolling Stock Non-Interior Products: Aluminum Cable Management Systems, Cab Handrail, Under Carriage Frame Module, Air Handling Unit, Battery Box, Equipment Mounting Frames, Gangway Frame, Driver Foot Rest Assembly, Enclosure Box, Driver Simulator Cabin, etc.
Metro Rail Signalling Products:
- IP Rated Enclosures, Beacon Mounting Brackets, Ballastless Support Bracket, DCS Mast, Ladder Assembly with DCS Mast Platform, etc.
Infrastructure Products:
- Steel Structure and Aluminum Murals, Support Structure for Solar Panels, Wire Form and Cable Trays, etc.
Manufacturing Facility
The company’s manufacturing facility, located in Viswaneedam, Bangalore, spans over 28,317.50 sq. ft.
Financial Information (Restated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets (₹ Lakhs) | 2,850.69 | 2,737.68 | 2,496.71 | 2,386.97 |
| Revenue | 1,431.67 | 2,113.27 | 1,272.21 | 769.44 |
| Profit After Tax | 152.21 | 256.14 | 14.06 | -16.94 |
| Net Worth | 645.57 | 493.36 | 237.22 | 223.16 |
| Reserves and Surplus | 198.50 | 269.83 | 13.69 | -0.37 |
| Total Borrowing | 1,536.97 | 1,645.27 | 1,797.08 | 1,774.95 |
Financial Highlights:
- Revenue increased by 66.11%.
- Profit After Tax (PAT) rose by an impressive 1721.76%.
Presstonic Engineering Limited stands as a robust player in the industry, combining manufacturing excellence with substantial financial growth.
Amounts are in ₹ Lakhs.
Presstonic Engineering IPO Key Performance Indicators
| KPI | Values |
|---|---|
| P/E (x) | 6.28 |
| Post P/E (x) | 18.23 |
| Market Cap (₹ Cr.) | 55.49 |
| ROE | 115% |
| ROCE | 87% |
| Debt/Equity | 0.98 |
| EPS (₹) | 5.73 |
| RoNW | 51.92% |
Objects of the Issue (Presstonic Engineering IPO Objectives)
The Objects of the Issue are:
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- Prepayment in full of certain borrowings availed by the Company
- To meet the Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes
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