Sunita Tools is coming up with an IPO worth 22.04 Crores. The offer consists of both fresh issue of shares as well as an offer for sale. The company is issuing 13,20,000 fresh shares and offering existing 2,00,000 shares at INR 145 per share. The company proposes to meet its working capital requirement with the funds raised.
Sunita Tools IPO – Important Details
| Sunita Tools IPO Date | 26Th September-3rd September 2023 |
| Sunita Tools IPO Listing Date | 11th September 2023 |
| Sunita Tools IPO Price | INR 145 per share |
| Sunita Tools IPO Lot Size | 1000 shares |
| Sunita Tools IPO Total Issue Size | INR 22.04 crores |
| Sunita Tools IPO Basis of Allotment | 6Th September 2023 |
| Sunita Tools IPO Initiation of Refunds | 9Th September 2023 |
| Sunita Tools IPO Credit of Shares to Demat | 10Th September 2023 |
| Sunita Tools IPO Issue Type | Fixed Price Issue |
| Sunita Tools IPO Listing At | BSE SME |
Sunita Tools Limited IPO – Company Profile
Sunita Tools Limited has been in the Engineering and Mould base Industry for more than three decades providing one of its kind customized solutions to various industries with a vision to fulfill tomorrow’s requirements today. The company manufactures Ground Plates, Mould Bases and Precision CNC Machining.
The manufacturing facility is in Vasai, Mumbai and has many strategic advantages. The area in which it is located is a well developed industrial area providing easy availability of resources, easy to & fro logistics & transportation enhances efficiency of timely delivery as per convenience of the customers. This location gives a competitive edge over competitors.
The Promoters Sanjay Pandey and Satish Pandey possess significant industry experience and have been instrumental in the growth of the company. They have a strong understanding of the manufacturing process and the various components involved in creating mould bases.
Sunita Tools IPO Objective
Sunita Tools aims to raise INR 14.25 crores to address increased sales and higher raw material costs. The funds will also support general corporate needs, including technology advancement and expansion.
- Funding working capital requirement: The Company requires additional working capital on account of increase in sales and raw material prices for the existing manufacturing business. The company plans to utilise INR 14.25 crores for the said purpose.
- General corporate purpose: The company plans to deploy the balance funds towards general corporate purpose which is not limited to meeting expenses incurred in ordinary course of business such as strategic initiatives including advancement of information technology, meeting future branch and business expansion,etc
Sunita Tools Ltd IPO Risks And Challenges
Sunita Tools faces risks from significant reliance on trade receivables and inventories, with mismanagement potentially affecting sales, profits, and cash flow. Negative cash flows in 2023 and competition from various players are additional challenges.
- Trade Receivables and Inventories form a substantial part of the current assets and net worth. Failure to manage the trade receivables and Inventories could have an adverse effect on our net sales, profitability, cash flow and liquidity.
- The Company had negative cash flows in the year ending 31.03.2023. Sustained negative cash flow could impact the growth and business.
- The company faces competition in our business from organized and unorganized players, which may adversely affect the business operation and financial condition.
Sunita Tools Limited IPO Peer Comparison
The company believes that there is no other listed company which is specifically comparable to its business model, size and financials. Hence comparison is not possible.
Sunita Tools Limited IPO Financial Information
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31 March 2023 |
| Revenue (₹ in lakhs) | 666.36 | 873.47 | 1,384.44 |
| Equity (₹ in lakhs) | (348.02) | (267.02) | 320.69 |
| Expenses (₹ in lakhs) | 664.18 | 808.35 | 1,080.61 |
| Profit and Loss After Tax (₹ in lakhs) | 26.66 | 80.99 | 337.71 |
| RoNW (%) | NA* | NA* | 105.31% |
| Diluted EPS only (₹) | 0.68 | 2.06 | 8.59 |
| NAV per Equity Share (₹) | (19.28) | (14.79) | 7.45 |
| Total Assets (in lakhs) | 1,351.82 | 1 ,422.66 | 2,537.71 |
| Total Liabilities (in lakhs) | 1,699.84 | 1,689.68 | 2,217.02 |
*Negative Networth of the Company as on March 31, 2021 and March 31, 2022. Hence Return on Networth is not computable for these periods.
Sunita Tools Limited IPO – Fundamental Analysis
Revenue Growth:
Sunita Tools Limited achieved remarkable revenue growth, surging from ₹666.36 lakhs in 2021 to ₹1,384.44 lakhs in 2023, indicating strong performance.
Profitability:
The company’s profitability substantially increased, with Profit and Loss After Tax rising from ₹26.66 lakhs in 2021 to ₹337.71 lakhs in 2023.
Return on Net Worth (RoNW):
In 2023, Sunita Tools demonstrated an impressive RoNW of 105.31%, highlighting its financial strength.
Earnings Per Share (EPS):
Diluted EPS showed significant improvement, reaching ₹8.59 in 2023.
Net Asset Value (NAV) per Equity Share:
NAV per Equity Share consistently grew, reaching ₹7.45 in 2023.
Asset and Liability Management:
Total Assets steadily increased, from ₹1,351.82 lakhs in 2021 to ₹2,537.71 lakhs in 2023, indicating a robust asset base.
Summary:
Sunita Tools Limited presents strong financial growth, profitability, and a healthy RoNW. However, investors should consider IPO pricing and market conditions before making investment decisions. Consulting with financial experts is advisable.
Sunita Tools Limited IPO – Industry & Market Potential
The global injection molded plastics market size is anticipated to reach USD 423.7 billion by 2030, registering a CAGR of 4.2% in the forecast period.
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. The Capital Goods sector contributes to 12% of India’s manufacturing output and 1.8% to GDP. Market valuation of the capital goods industry was US$ 43.2 billion in FY22.
Sunita Tools Ltd IPO – Type of Offer
The company plans a fresh issue of shares to raise INR 19.14 Crore for working capital. Additionally, existing shareholders, including promoters, will sell INR 2.90 crores worth of their stake through an Offer For Sale (OFS)
- Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 19.14 Crore. This fund will be utilized to fund the working capital requirement.
- Offer For Sale (OFS): Existing shareholders, including promoters and early investors, will sell a portion of their stake in the company worth INR 2.90 crores.
Sunita Tools Ltd IPO Offer Size
The offer consists of both fresh issue of shares as well as an offer for sale. The company is issuing 13,20,000 fresh shares and offering existing 2,00,000 shares at INR 145 per share.
Sunita Tools Ltd IPO Allotment Structure
Sunita Tools Ltd’s IPO allotment structure permits Retail Individual Investors to apply for multiples of 1000 shares below INR 2 lakhs, while others apply in multiples exceeding INR 2 lakhs. Market Makers get 78,000 shares.
Retail Individual Investors (RII): Multiples of 1000 shares such that the application value does not exceed INR 2 lakhs. These individual investors apply for shares with a total value of less than Rs. 2 lakhs.
Other than retail individual investors: Multiples of 1000 shares such that the application value exceeds INR 2 lakhs .
Market Maker Reservation:Application size shall be 78,000 equity shares since there is firm allotment.
How to apply for a Sunita Tools Limited IPO?
To apply for the Sunita Tools IPO through Alice Blue, you would typically follow these steps:
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.
- Check for IPO Details: Once your account is active, you can check for the Sunita Tools IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for Pramara Promotions 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 Sunita Tools IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- 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.
- 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.
- Select the Sunita Tools 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 Sunita Tools IPO .
- 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 Sunita Tools IPO :
● Registrar’s Website: Visit the website of Kfin Technologies Limited, the registrar of the Sunita Tools 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.
● BSE SME:: You can also check the allotment status on the official websites of the Bombay Stock Exchange (BSE) SME’s website. 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.
Sunita Tools IPO Offer Registrar
The registrar for the Pramara Promotions IPO is Kfin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
Kfin Technologies Limited
Selenium Tower-B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel No.: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
Sunita Tools Limited IPO FAQs
What is the allotment date of the Sunita Tools IPO ?
The allotment date is 6th October 2023.
What is the price band of Sunita Tools IPO ?
The price of each share is INR 145.
What is the size of the Sunita Tools IPO ?
Sunita Tools is coming up with an IPO worth 22.04 Crores. The offer consists of both fresh issue of shares as well as an offer for sale. The company is issuing 13,20,000 fresh shares and offering existing 2,00,000 shares at INR 145 per share. The company proposes to meet its working capital requirement with the funds raised.
What is the listing date of the Sunita Tools IPO ?
The listing date is 11th of October 2023.
