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20 Nov 2024
Esprit Stones Limited IPO
Esprit Stones was incorporated in the year 2016 and they are primarily engaged in the manufacturing of Engineered Stones such as engineered quartz surfaces and engineered marble surfaces. The company majorly manufactures engineered quartz surfaces and through their Subsidiary, HSPL, they manufacture engineered marble surfaces. They are one of the key Engineered Stones players in India. Through their innovative design and manufacturing processes, they can offer our product in a wide variety of colours, styles, designs and textures.
Esprit Stones IPO is a book-built issue of Rs 50.42 crores. The issue is entirely a fresh issue of 57.95 lakh shares. Esprit Stones IPO opens for subscription on July 26, 2024 and closes on July 30, 2024. Esprit Stones's IPO price band is set at ₹82 to ₹87 per share. The minimum lot size for an application is 1600 Shares. Choice Capital Advisors Pvt Ltd and Srujan Alpha Capital Advisors Llp are the book-running lead managers of the Esprit Stones IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Esprit Stones IPO is Choice Equity Broking.
Esprit Stones IPO Overview
| Detail | Description |
|---|---|
| IPO Date | July 26, 2024 to July 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹82 to ₹87 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,795,200 shares (aggregating up to ₹50.42 Cr) |
| Fresh Issue | 5,795,200 shares (aggregating up to ₹50.42 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 16,150,000 |
| Shareholding post issue | 21,945,200 |
| Market Maker portion | 291,200 shares Choice Equity Broking |
Esprit Stones IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, July 26, 2024 |
| IPO Close Date | Tuesday, July 30, 2024 |
| Basis of Allotment | Wednesday, July 31, 2024 |
| Initiation of Refunds | Thursday, August 1, 2024 |
| Credit of Shares to Demat | Thursday, August 1, 2024 |
| Listing Date | Friday, August 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 30, 2024 |
Esprit Stones IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹139,200 |
| Retail (Max) | 1 | 1600 | ₹139,200 |
| HNI (Min) | 2 | 3,200 | ₹278,400 |
Esprit Stones IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Esprit Stones IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Company & Financials
Founded in 2016, Esprit Stones Limited manufactures engineered quartz and marble surfaces. As of March 2024, the Manufacturing Facility (I) is equipped with three (3) pressing lines and two (2) polishing lines, with a production capacity of around 72 lakhs sq. ft. per annum. Additionally, we commissioned our Manufacturing Facility II to manufacture quartz grit and quartz powder, which is the primary raw material for the manufacture of engineered quartz. The company manufactures unsaturated polyester resin, at manufacturing facility three. They continually work to ensure that they acquire high-quality raw materials for their Engineered Stones and ensure that their high-quality standards are met by conducting ongoing quality control checks of the raw materials and finished goods at their Manufacturing Facilities. Additionally, through their Subsidiary, Addwaya Chemicals, they are also engaged in the manufacturing of unsaturated polyester resin which is one of the key raw materials in the manufacturing of Engineered Stones.
Esprit Stones Limited Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||||||||||||
| Assets | 27,459.35 | 23,802.24 | 18,069.74 | |||||||||||||||||||||||||||||||||||||
| Revenue | 27,477.82 | 17,606.52 | 19,002.60 | |||||||||||||||||||||||||||||||||||||
| Profit After Tax | 1,031.73 | 355.72 | 1,850.53 | |||||||||||||||||||||||||||||||||||||
| Net Worth | 7,238.80 | 6,227.81 | 5,893.32 | |||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 5,623.80 | 5,277.81 | 4,943.32 | |||||||||||||||||||||||||||||||||||||
| Total Borrowing | 12,541.91 | 11,879.55 | 5,799.76 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 12.39% |
| Debt/Equity | 1.72 |
| RoNW | 15.09% |
| P/BV | 1.94 |
| PAT Margin (%) | 3.78 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.39 | 4.7 |
| P/E (x) | 13.62 | 18.51 |
Objectives of Esprit Stones IPO
The net proceeds of the Issue, i.e. gross proceeds of the Issue less the issue expenses to the extent applicable to the Issue ("Net Proceeds") are proposed to be utilized for the following objectives:
- 1. Funding Working Capital requirement of the Company.
- 2. Investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and/or prepayment in part or full of its outstanding borrowings.
- 3. Investment in the Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital Requirement.
- 4. General Corporate Purpose.
Esprit Stones IPO Review
The company is in a highly competitive and fragmented segment. It posted de-growth in its bottom lines for the reported periods. It has made tall claims that do not match its financial performance. Based on FY24 earnings, the issue appears aggressively priced, discounting all near-term positives. Well-informed investors may park moderate funds for the medium to long term.
FAQs for Esprit Stones IPO
-
What is the Esprit Stones IPO?
Esprit Stones IPO is an NSE SME IPO. They are going to raise ₹50.42 Crores via IPO. The issue is priced at ₹82 to ₹87 per equity share. The IPO is to be listed on NSE.
-
When will Esprit Stones IPO?
The IPO will open on July 26, 2024 for QIB, NII, and Retail Investors.
-
What is Esprit Stones IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Esprit Stones's IPO Size?
Esprit Stones's IPO size is ₹50.42 crores.
-
What is Esprit Stones's IPO Price Band?
Esprit Stones IPO Price Band is ₹82 to ₹87 per equity share.
-
What is Esprit Stones IPO Minimum and Maximum Lot Size?
The IPO bid is 1600 Shares with ₹139,200.
-
What is Esprit Stones's IPO Allotment Date?
Esprit Stones's IPO allotment date is July 31, 2024.
-
What is Esprit Stones's IPO Listing Date?
Esprit Stones IPO listing date is August 2, 2024. The IPO to list on NSE SME.
-
What is the Esprit Stones IPO?
Esprit Stones IPO is an NSE SME IPO. They are going to raise ₹50.42 Crores via IPO. The issue is priced at ₹82 to ₹87 per equity share. The IPO is to be listed on NSE.
-
When will Esprit Stones IPO?
The IPO will open on July 26, 2024 for QIB, NII, and Retail Investors.
-
What is Esprit Stones IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Esprit Stones's IPO Size?
Esprit Stones's IPO size is ₹50.42 crores.
-
What is Esprit Stones's IPO Price Band?
Esprit Stones IPO Price Band is ₹82 to ₹87 per equity share.
-
What is Esprit Stones IPO Minimum and Maximum Lot Size?
The IPO bid is 1600 Shares with ₹139,200.
-
What is Esprit Stones's IPO Allotment Date?
Esprit Stones's IPO allotment date is July 31, 2024.
-
What is Esprit Stones's IPO Listing Date?
Esprit Stones IPO listing date is August 2, 2024. The IPO to list on NSE SME.
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