The Balaji Valve Components IPO is a book-built issue with a total size of Rs 21.60 crores, consisting entirely of a fresh issue of 21.6 lakh shares. The IPO subscription period is from December 27, 2023, to December 29, 2023. The allotment is expected to be finalized on Monday, January 1, 2024, and the tentative listing date on BSE SME is set for Wednesday, January 3, 2024.
The price band for the Balaji Valve Components IPO is fixed at ₹95 to ₹100 per share, with a minimum lot size for an application set at 1200 shares. Retail investors are required to make a minimum investment of ₹120,000, while HNI investors have a minimum lot size of 2 lots (2,400 shares) amounting to ₹240,000.
Hem Securities Limited serves as the book running lead manager for the IPO, and Bigshare Services Pvt Ltd is the registrar for the issue. Hem Finlease is the market maker for the Balaji Valve Components IPO.
Key IPO Details:
– IPO Date: December 27, 2023, to December 29, 2023
– Listing Date: Wednesday, January 3, 2024
– Face Value: ₹10 per share
– Price Band: ₹95 to ₹100 per share
– Lot Size: 1200 Shares
– Total Issue Size: 2,160,000 shares (aggregating up to ₹21.60 Cr)
– Issue Type: Book Built Issue IPO
– Listing At: BSE SME
– Shareholding Pre Issue: 100%
– Shareholding Post Issue: 73.53%
– Market Maker Portion: 114,000 shares
Balaji Valve Components IPO Reservation:
– QIB Shares Offered: Not more than 50% of the Net Issue
– Retail Shares Offered: Not less than 35% of the Net Issue
– NII (HNI) Shares Offered: Not less than 15% of the Net Issue
**IPO Timeline (Tentative Schedule):**
– IPO Opens: Wednesday, December 27, 2023
– IPO Closes: Friday, December 29, 2023
– Basis of Allotment: Monday, January 1, 2024
– Initiation of Refunds: Tuesday, January 2, 2024
– Credit of Shares to Demat: Tuesday, January 2, 2024
– Listing Date: Wednesday, January 3, 2024
– Cut-off time for UPI mandate confirmation: 5 PM on December 29, 2023
**Lot Size:**
– Retail (Min): 1 lot, 1200 shares, ₹120,000
– Retail (Max): 1 lot, 1200 shares, ₹120,000
– HNI (Min): 2 lots, 2,400 shares, ₹240,000
**About Shri Balaji Valve Components Limited:**
Founded in November 2011, Shri Balaji Valve Components Ltd. specializes in producing valve components for various types of valves, including ball valves, butterfly valves, control valves, gate valves, and check valves. The company operates two manufacturing facilities in Pune, Maharashtra, equipped for forging, heating, and machining materials. As of June 30, 2023, the company has 168 employees.
**Financial Information (Restated):**
– Revenue increased by 61.14% and profit after tax (PAT) rose by 319.07% between March 31, 2022, and March 31, 2023.
– Key Performance Indicators:
– P/E (x): 9.33
– ROE: 136.76%
– ROCE: 26.47%
– Debt/Equity: 3.63
– EPS (Rs): 10.72
– RoNW: 81.50%
**Objects of the Issue:**
The proceeds from the IPO will be utilized for:
– Funding Capital Expenditure towards the installation of additional plant and machinery.
– Meeting working capital requirements.
– General corporate purposes.
**Prospectus:**
– Balaji Valve Components IPO DRHP
– Balaji Valve Components IPO RHP
In summary, the IPO presents an opportunity for investors to participate in the growth of Shri Balaji Valve Components Limited as it aims to expand its operations and meet working capital needs.
