The company Saakshi Medtech Limited is coming up with an IPO of INR 45.16 crores. The offer consists of a fresh issue of equity shares.The company intends to utilise the raised funds for meeting the repayment of borrowings,and to meet the working capital requirement of the company.
Saakshi Medtech and Panels IPO – Important Details
| Saakshi Medtech and Panels IPO Date | September 25, 2023 to September 27, 2023 |
| Saakshi Medtech and Panels IPO Listing Date | October 3, 2023 |
| Saakshi Medtech and Panels IPO Price | INR 92-97 per share |
| Saakshi Medtech and Panels IPO Lot Size | 1200 Shares |
| Saakshi Medtech and Panels IPO Total Issue Size | INR 45.16 crores |
| Saakshi Medtech and Panels IPO Basis of Allotment | October 3, 2023 |
| Saakshi Medtech and Panels IPO Initiation of Refunds | October 4, 2023 |
| Saakshi Medtech and Panels IPO Credit of Shares to Demat | October 5, 2023 |
| Saakshi Medtech and Panels IPO Issue Type | Book Built Issue IPO |
| Saakshi Medtech and Panels IPO Listing At | NSE SME |
Saakshi Medtech and Panels Limited IPO – Company Profile
The company is a diversified company engaged in manufacturing of:
i) Electrical Control Panels and Cabinets used in elevators, air compressors, renewal energy industry, oil & gas exploration industry, electrical vehicle charging stations etc,
ii) Medical X Ray system used in healthcare industry
iii) Fabrication works for locomotives and
(iv) wire harness division for our captive
consumption in electrical control panels and for supply to the air compressor industry.
The company designs, programs and assembles electrical control panels and cabinets consisting of microcontroller, programmable logic controllers and SCADA system. The company also has a wire harness division where wiring assembly or cable assembly is undertaken for transmission of signals or electrical power in the electrical cables or wires. Majority of our harnessed wire is used for captive consumption in manufacturing activities of Medical X-Ray system or electrical control panels and cabinets.
Saakshi Medtech and Panels Limited IPO Objective
The company has borrowed funds from banks in the form of term loans, vehicle loans, and cash credit for working capital. They intend to use around INR 5.00 crores from the proceeds to partially or fully repay some of these borrowings.Additionally, the company needs more working capital to support its future growth and other business needs. They intend to allocate INR 25.5 crores for this purpose.
- Repayment of borrowings:The company has entered into various borrowing arrangements with banks including borrowings in the form of term loans, vehicle loans and cash credit for working capital facilities.The company proposes to utilise an estimated amount of INR.5.00 crores from the net proceeds to repay in part or full certain borrowing.
- Funding working capital requirement: The company requires additional working capital for funding future growth requirements of the company and for other business purposes. The company plans to utilise INR 25.50 crores for the said purpose.
Saakshi Medtech & Panels Ltd IPO Risks And Challenges
The top 5 customers made up 93.8% of 2023 revenue; losing them could harm the business. Electrical Control Panels and Cabinets accounted for 69% of revenue, and failing to adapt to market changes could impact growth. Managing inventories and trade receivables is crucial to sales, profitability, and liquidity.
- Top 5 customers contributed 93.8% of the revenue in 2023.The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on the business, financial condition, results of operations and cash flows.
- Almost 69% of the revenue in 2023 was contributed by Electrical Control Panels and Cabinets. An inability to anticipate or adapt to evolving up gradation of the required products or reduction in the demand of these products may adversely impact the revenue from operations and growth prospects.
- Inventories and trade receivables form a major part of our current assets. Failure to manage our inventory and trade receivables could have an adverse effect on our sales, profitability, cash flow and liquidity.
Saakshi Medtech & Panels Ltd IPO Peer Comparison
There are no listed companies in India that are engaged in a business similar to that of the company’s business.Accordingly it is not possible to provide an industry comparison in relation to the company.
Saakshi Medtech and Panels IPO Financial Information
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31 March 2023 |
| Revenue (₹ in lakhs) | 5,977.39 | 9,157.78 | 12,205.82 |
| Equity (₹ in lakhs) | 2,048.17 | 2,985.77 | 4,224.07 |
| Expenses (₹ in lakhs) | 5,707.26 | 7,904.69 | 10,563.88 |
| Profit and Loss After Tax (₹ in lakhs) | 220.08 | 937.59 | 1,238.30 |
| RoNW (%) | 10.75% | 31.4% | 29.32% |
| Diluted EPS only (₹) | 1.69 | 7.21 | 9.53 |
| NAV per Equity Share (₹) | 15.76 | 22.97 | 32.49 |
| Total Assets (in lakhs) | 5,591.50 | 6,521.91 | 9,324.22 |
| Total Liabilities (in lakhs) | 3,543.33 | 3,536.14 | 5,100.15 |
Saakshi Medtech and Panels IPO – Industry & Market Potential
India’s Capital Goods manufacturing industry serves as a strong base for its engagement across sectors such as Engineering, Construction, Infrastructure and Consumer goods, amongst others.In last fiscal year, India exported engineering goods worth US$ 112.10 billion.
Shri Dharmendra Pradhan, Minister of Skill Development and Entrepreneurship and Education, said growth of capital goods sector is correlated to the success of Make in India program.
Demand in the engineering industry segment is driven by investments and capacity creation in core sectors like power, infrastructure developments, mining, oil and other sectors like the general manufacturing sector, automotive and process industries, and consumer goods industry.
Saakshi Medtech and Panels IPO- Type of Offer
The company Saakshi Medtech and Panels Limited is coming up with an IPO of INR 45.16 crores. The offer consists of a fresh issue of equity shares at a price band of INR 92-97 per share.
Saakshi Medtech and Panels IPO Offer Size
Saakshi Medtech Limited is planning to launch an IPO worth INR 45.16 crores.This offering includes the issuance of new equity shares. The company plans to use the proceeds to repay loans, and cover its working capital needs.
Saakshi Medtech and Panels IPO Allotment Structure
In the upcoming IPO, allocation will be as follows: 50% for Qualified Institutional Buyers (QIBs), comprising banks, mutual funds, and insurance companies; 15% for Non-Institutional Investors (NIIs), typically corporate bodies or high-value individuals; and 35% for Retail Individual Investors (RIIs), who invest less than Rs. 2 lakhs. Additionally, 2,35,200 equity shares (5.05% of the total issue) are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs. 2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
● Market Maker Reservation: Total of 2,35,200 equity shares are reserved for market makers. This forms 5.05% of the total issue.
How to apply for a Saakshi Medtech and Panels IPO?
To apply for the Saakshi Medtech and Panels IPO through Alice Blue, you would typically follow these steps:
1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
2. Check for IPO Details: Once your account is active, you can check for the Saakshi Medtech and Panels IPO details in the IPO section of the Alice Blue platform.
3. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
4. Submit the Application: Confirm all your details and submit your application.
You can apply for Saakshi Medtech and Panels IPO at Alice Blue in just a few clicks!
Check Allotment Status: Post the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Saakshi Medtech and Panels IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Saakshi Medtech and Panels IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Saakshi Medtech and Panels IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Saakshi Medtech and Panels IPO:
Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Saakshi Medtech and Panels IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) SME Platform. You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after the allotment process has been completed, a few days after the IPO window closes.
Saakshi Medtech and Panels IPO Offer Registrar
The registrar for the Saakshi Medtech and Panels Limited’s IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Bigshare Services Private Limited
Office No. S6 – 2, 6th Floor, Pinnacle Business Park,
Mahakali Cave Road, Andheri – [East], Mumbai – 400093,
Maharashtra, India.
Tel No.: +91 22 6263 8200
Email: [email protected]
Website: www.bigshareonline.com
Saakshi Medtech and Panels IPO FAQs
What is the allotment date of the Saakshi Medtech and Panels Limited IPO?
The allotment date is 3rd October 2023.
What is the price band of the Saakshi Medtech and Panels Limited IPO?
The price band is INR 92-97 per share.
What is the size of the Saakshi Medtech and Panels Limited IPO?
Saakshi Medtech Limited is planning to launch an IPO worth INR 45.16 crores.This offering includes the issuance of new equity shares. The company plans to use the proceeds to repay loans, and cover its working capital needs.
What is the listing date of the Saakshi Medtech and Panels Limited IPO?
The listing date is October 3, 2023.
