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Corrtech International IPO Company Details
Corrtech International is one of the leading focused providers of pipeline laying solutions including hydrocarbon pipeline laying works in India. In addition to pipeline laying and construction, the Company has also emerged as amongst the leading player in horizontal directional drilling and cathodic protection solutions over the years.It, through its subsidiary, Corrtech Energy Limited , manufacture precision components and provide products and services to the gas turbines and steam turbines operators along with services to the aerospace and defence sectors . CEL is also engaged in providing EPC solutions towards process facilities for material and feed handling in oil and gas refineries and petrochemical complexes. It also manufactures equipment like conditioning skids, pressure vessels, material handling equipment and cathodic protection materials like sacrificial anode for connectivity of oil and gas networks through its other wholly owned subsidiary Control Plus Oil & Gas Solutions.
The Company was incorporated on June 8, 1982 as a CPS provider and ventured into laying of pipeline projects in 2002 It is one of the pioneers in pipeline construction, HDD and CPS and offering wide basket of services in pipeline industry , till date it has completed more than 50 Hydrocarbon pipeline laying projects spanning over 3,500 kms in more than 13 states across a variety of topographies and weather conditions including over 229 kms of gas pipeline with 48” diameter and HDD crossing with individual crossing profile length of 2.2 kms. Corrtech International has successfully completed projects across geographical and weather conditions including laying of pipeline from Haldia Oil Jetty to Haldia Coastal Area and Dhobi-Durgapur-Haldia Pipeline section along with spurlines under Jagdishpur Haldia Bokaro Dhamra Pipeline project and have received numerous awards including certificate of appreciation from Engineers India Limited as project management consultant and a letter from Indian Oil Corporation Limited for our performance for mainline welding of 9.245 km in a single day against a target of 5 kms welding in a single day. Further, one of its Subsidiaries, CEL has executed a project in the Dahej region for transportation of LPG / propane from port terminal area to the processing area under a composite contract involving EPC of related facilities at both locations and laying of 11.65 kms pipeline between the two. For more information, click www.corrtech.in
The Promoters of Corrtech International
Amit Indrasen Mittal , Sandeep Indrasen Mittal & IEC Projects Ltd
Corrtech International IPO Main Objects
The Offer comprises the Fresh Issue and the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects
1. Redemption of debentures;
2. Repayment or pre-payment, in full or in part, of certain borrowings availed by the Company;
3. Financing the capital expenditure for purchase of new equipment;
4. Infusion of equity into subsidiary company;
5. Funding incremental working capital requirements of the Company
Corrtech International IPO Details
IPO opens on (?) , 2022
IPO closes on (?) ,2022
Issue Type: Book Built Issue IPO
Issue : up to (?)Shares /Rs (?) Crore
* Fresh Issue of (?) Sh/ Rs. 350 Cr
* Offer for Sale Up to 4,000,000 Sh/ Rs.(?) Cr
Face Value per share : Rs. 10
Corrtech International IPO Price Band Per Equity Share: Rs. (?)
Corrtech International IPO Retail Lot Size (?) Shares
Corrtech International IPO Listing will at BSE,NSE
Shares offered to
QIB (?%) (?) Shares = Rs (?) Cr
NII (?%) Shares = Rs (?) Crs
RII (?%) Shares = Rs (?) Crs
Lot size: (?) Shares = (?) Forms
Min Retail Application : (?) Sh , Rs. (?)
Max Retail Application : (?) Sh, Rs (?)
Corrtech International IPO Analysis IPO Tentative timeTable
Corrtech International IPO Analysis IPO Allotment on ? 2022
Unblocking of ASBA ? 2022
Credit to Demat Accounts ? 2022
Listing on ? 2022
Corrtech International IPO Analysis : Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 7.42
Earnings per Share 2020-21,Rs 6.06
Earnings per Share 2021-22 6M Rs 3.28
Return on Net Worth: 19-20 29.46 %
Return on Net Worth: 20-21: 20.06%
Return on Net Worth: 21-22 6M : 9.61%
Equity Shares prior the IPO : (?) Shares
Book Value of the Share as on 30.09.2021 Rs 42.04
NAV per Equity Share after the Offer ?
Ratio Analysis
Upper Price Band/last EPS:
Upper offer price/Book Value Ratio
Upper offer price/BV after IPO Ratio:
Corrtech International IPO Peer Comparison:
Likhitha Infrastructure @ PE Multiple of 17.69 7
Corrtech International IPO Lead Managers
Equirus Capital Private Limited
Registrar to Corrtech International IPO
Linkintime India Pvt Ltd.
Registered Office of Corrtech International
51 Mahagujarat, Ind Estate, Opp Nova Petrochemicals, Sarkhej-Bavla Highway Village Moraiya, Changodar-382213, Gujarat, India
Company Secretary & Compliance Officer : Anita Ashokkumar Chellani
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