Esprit Stones IPO GMP grey market premium, review, Subscription, allotment, listing estimate @

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What is the business of Esprit Stones ?

Esprit Stones specializes in manufacturing Engineered Stones, including engineered quartz and engineered marble surfaces through our subsidiary, HSPL. Recognized as a key player in India’s Engineered Stones industry, these composite materials are crafted from crushed stone bonded with adhesive. Engineered Stones boast non-porous properties, enhancing scratch, stain, and heat resistance, surpassing natural stones, laminates, and other solid surfaces.

Its products are prized for their strength, consistency, durability, and aesthetic appeal, ideal for vanities, kitchen countertops, flooring, wall cladding, and various interior applications in both residential and commercial settings. Leveraging innovative design and manufacturing techniques, it offers a diverse range of colors, styles, designs, and textures.

Within six years of inception, it has significantly expanded and diversified. Its Manufacturing Facility I, operational since 2017, initially housed a single press and polish line, producing 2.4 million sq.ft. of engineered quartz annually. Today, it features three pressing lines and two polishing lines, scaling production to 7.2 million sq.ft. annually. Additionally, Manufacturing Facility II produces quartz grit and powder, essential raw materials for engineered quartz.

Its global footprint spans over 10 countries, including the USA, Canada, Egypt, Bulgaria, UAE, and Saudi Arabia, predominantly under white-label arrangements. Notably, a substantial portion of its revenue stems from exports, with 59.87%, 72.75%, and 92.44% from exports in the fiscal years 2024, 2023, and 2022, respectively. The USA remains its primary export destination, accounting for 94.43%, 97.51%, and 96.47% of total exports during the same periods. Moreover, Haique Stones Inc., our foreign subsidiary, facilitated 64.43% and 25.73% of USA-bound exports in fiscal years 2024 and 2023, respectively.

Get more information about the company @ https://espritstones.com/

Who are the Promoters of Esprit Stones  IPO?

The promoters of the Company are Sunilkumar Lunawath, Nitin Gattani, Pradeepkumar Lunawath, Sangeeta Gattani, Anushree Lunawath and Siddhanth Lunawath

What are the Objects of Esprit Stones  IPO?

The Offer comprises of only fresh issue of shares.

The objectives of the Offer are to:

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 GMP grey market premium, review, Subscription, allotment, listing estimate

Esprit Stones IPO Review

Esprit Stones specializes in manufacturing Engineered Stones, including engineered quartz and engineered marble surfaces through our subsidiary, HSPL. Recognized as a key player in India’s Engineered Stones industry, these composite materials are crafted from crushed stone bonded with adhesive. Engineered Stones boast non-porous properties, enhancing scratch, stain, and heat resistance, surpassing natural stones, laminates, and other solid surfaces.
Size:  Net size of the IPO is Rs. 47.88 crore, which is not very small, compared to other SME IPOs. The retail portion is Rs. 16.76 Crore and NII portion is Rs.7.18 Crore. Good oversubscription is possible.
Financial Snapshot: The company has shown steady rise in its topline during last 3 years. Compared to peer companies, the shares in this IPO are offered at reasonable valuations. 
+ from fundamental angle: May Apply
+ from grey market angle: ?

Quicklinks

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Esprit Stones IPO GMP today allotment, review?

Esprit Stones IPO GMP grey market premium

Esprit Stones IPO FAQs

What is Esprit Stones IPO?

This is a SME IPO of 5795200 equity shares of the face value of Rs. 10 aggregating up to Rs.50.42 Crores. The issue is priced at Rs.82-87 per share. The minimum order quantity is 1600 Shares.

When will Esprit Stones IPO subscription open?

Esprit Stones IPO opens on July 26, 2024, and closes on July 30, 2024.

What is the lot size of Esprit Stones IPO?

Esprit Stones IPO lot size is 1600 Shares, and the minimum amount required is Rs.139200

How to apply for Esprit Stones IPO?

You can apply in this IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

When is Esprit Stones IPO allotment?

The finalization of Basis of Allotment for Esprit Stones IPO will be done on 31 July, 2024, and the allotted shares will be credited to your demat account by August 01, 2024.

When is Esprit Stones IPO listing date?

Esprit Stones IPO listing date is August 02, 2024.