Initial Public Offer

Konstelec Engineers IPO to open on January 19, 2024; fixes a price band of Rs. 66 – Rs. 70 per share

January 17, 2024 TeluguSuperNews Leave a comment

Telugu super news,Hyderabad, January 17, 2024: Konstelec Engineers Limited (The Company or KEL), India’s leading electrical EPC services company, today announced that its Initial Public Offer will open on Friday, January 19, 2024. The Anchor portion will be open on Thursday, January 18, 2024, and the issue will conclude on Tuesday, January 23, 2024. The company intends to raise approximately Rs. 28.70 crores (at upper hand) from the offering and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs. 66 – Rs. 70 per share. The lot size will be 2,000 shares.

Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar to the Issue.

The IPO will comprise a fresh issue of 41 lakh Equity Shares with a face value of Rs 10/- through the book-building route. While 2.06 lakh equity shares have been reserved for Market Maker, 5.86 lakh equity shares for NIIs, 19.44 lakh equity shares allocated for QIB portion including anchor reservation, and Retail (RII) portion accounts for 13.64 lakh equity shares.

Konstelec plans to utilise a majority of funds raised proceeds towards the working capital expenses for procuring high-quality products for its long-term projects and to provide collateral security to various clients. It will use the remaining funds for general corporate purposes and to meet public-issue expenses.

The Mumbai-headquartered EPC contractor specialises in delivering full-scale project management, procurement support and comprehensive engineering services for various electrical infrastructure, instrumentation and automation projects across India and abroad. The company’s services are applicable in several manufacturing industries, such as oil & gas, refinery, steel, cement, pharmaceuticals, textiles, hospitals, and health care, both domestic and international.

Founded by a first-generation entrepreneur Mr. Biharilal Ravilal Shah in 1995, the company made giant strides under his visionary leadership and guidance. KEL currently has a strong order book of over 50 major projects amounting to Rs. 573 crore in order value, that are in various phases of implementation. The company’s ongoing projects include electrical, construction power work and instrumentation work for leading corporates such as JSW Vijayanagar Metallics Ltd, Rajasthan Refinery Project, HRRL Pachpadra, Mangalore Terminal Expansion Project, Karnataka State and Benue Cement Plant in Nigeria.

Konstelec Engineers recorded a revenue of Rs. 93.05 crore, EBITDA of Rs. 7.08 crore and a profit (PAT) of Rs. 4.56 crore in the first half of the current financial year which ended September 30, 2023. In FY2022-23, KEL posted a revenue of Rs. 153.40 crore, up from Rs. 107.05 crore in FY2021-22. The company’s EBITDA stood at Rs. 14.15 crore in FY2022-23, up from Rs. 5.84 crore in FY2021-22. KEL registered over two-fold growth in profit (PAT) at Rs. 7.78 crore in FY2022-23, compared to Rs. 3.52 crore in FY2021-22.

The company counts leading corporate conglomerates, including Reliance Industries Limited, Engineers India Limited, Tata Steel Limited, JSW Steel, Adani, Indian Oil, BPCL, HPCL, CPCL, MRPL, ISRO, ACC, BARC, Dangote Industries Limited, NTPC, Navin Fluorine International Ltd and IGPL among its clientele.

For more information, please visit: https://www.konstelec.com/

SHEETAL UNIVERSAL IPO OPEN ON DECEMBER 4, 2023

November 30, 2023 TeluguSuperNews Leave a comment

Telugu suer news,November 30, 2023: Sheetal Universal Limited, agricultural product processor and exporter, today announced that its Initial Public Offer will open on Monday, December 4, 2023 and close on Wednesday, December 6, 2023. The company plans to raise approximately Rs. 2380 Lacs from the issue and aims to be listed with NSE Emerge. The IPO will comprise a fresh issue of 34 lakh Equity Shares with a face value of Rs 10/- each at a fixed price Rs. 70 per share. Beeline Capital Advisors Private Limited is the Lead Manager to issue. Bigshare Services Private Limited is the registrar to the Issue.

Rajkot-headquartered company is engaged in sourcing, processing and supply of agricultural products such as peanuts, sesame seeds, spices and grains to cater for the manufacturers of peanut butter, biscuits, cakes, chocolate and food products. The company has two subsidiaries – Saumesvar International Private Limited and Svar Industries Private Limited, which are into processing and exporting of Agri Commodities like oil seeds, grains, etc.

The net proceeds from the issue will be used for funding capital expenditure, working capital requirement, general corporate purpose and to meet Public Issue expenses. Furthermore, it intends to venture into new products management like producing protein powder and cold press extract oil, plans to set up manufacturing facility for defatted protein powder (dry powder) powder and extract cold press oil from raw peanut, almond, cashew nut and seed considered as vegan foods for India and export market.

The company plans to spend Rs. 584 lacs towards purchasing necessary equipment. The company will spend Rs. 1200 lacs on working capital, which will be used to expand the product range, increase the number of business verticals, and explore various geographical areas.

Sheetal Universal Limited operates a manufacturing & processing facility in Jamnagar district at Haripar Khandhera, which is spread over 14,568 Sq Mts with a constructed area of 6,000 Sq Mts. The facility implements an extensive and stringent quality control mechanism at each stage of the process to ensure that its finished product meets its customers’ specifications. The company exports its products to various countries including the Russian Federation, Indonesia, Malaysia, Vietnam, UAE, Iran, Algeria, Israel, Turkey and Egypt.

Commenting on the company’s plans, Mr. Hiren Vallabhbhai Patel, Promoter and Managing Director of Sheetal Universal Limited, said, “With our proven experience in the Agro Processing Industry, we are aiming for forward integration with value addition by setting up a manufacturing facility with the adequate equipment for producing defatted protein power and extract cold press oil for the domestic and export market. We are also planning to set up a production unit for defatted protein powder (dry powder) made from raw peanuts, almonds, cashew nuts and seeds which are considered vegan foods. Therefore, we will allocate the proceeds from the IPO towards expanding our capacity and geographical reach.”

In FY2022-23, the company’s total income increased to Rs.131.65 crore, up from Rs. 39.84 crore in FY2021-22. It recorded a profit (PAT) of Rs. 1.98 crore in 2022-23, compared to Rs. 28.31 lakh in FY2021-22. Further for the first half of FY 2024, Company has achieved the total income Rs. 56.75 crores with recorded profit (PAT) Rs. 1.88 crores.

For more information, please visit: https://sheetaluniversal.com