Sealmatic India IPO Analysis at Chanakyanipothi.com,
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On 1st March 2023, the scrip listed at Rs 225 (Issue price also Rs. 225)
Sealmatic India IPO Guidance:
Mumbai based Sealmatic is engaged in the business of designing and manufacturing of mechanical seals and associated products. Mechanical seals are mainly used in Oil & Gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and other industries. The IPO size is relatively very large. However the company has strong and consistent profitability and the share is offered at attractive valuation. Apply in this IPO for listing gains and also for long term investment.
Sealmatic India IPO Anchor Investment:
The company has allotted 569400 shares at a price of Rs. 225 to 3 anchor investors on 16 Feb 2023.
Sealmatic India IPO Grey Market updates
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Sealmatic India IPO Subscription Status
On 21 February 2023 @ 5.00 am (Day 3)
QIB: 949440 Shares, 8.71T
NII: 427248 Shares, 39.14T
RII: 996912 Shares, 12.06T
Total: 2373600 Shares 13.50T
Sealmatic India: Company Details
The company is engaged in the business of designing and manufacturing of mechanical seals and associated products. Mechanical seals are mainly used in Oil & Gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and other industrial. Company manufactures customised seals to meet the requirement of the client. Company has a complete range of engineered mechanical seals and sealing support systems to cater the needs of customers located all across the globe.
Sealmatic products are globally recognized as a trusted brand in process industry in over 45 countries, to name a few: USA, UK, Germany, Netherlands, Italy, Sweden, Norway, Switzerland, Denmark, Australia, France, Japan and many more countries.
The company has manufacturing facility at Bldg A, Indiplex IV, Survey No-12, Hissa No-9A, Village
Ghodbunder, Shanti Vidya Nagri Road, Mira Road (E), Thane – 401104. India. The said manufacturing unit is setup on a lease land in Survey No. 12, Hissa 9A, collectively admeasuring 3,855.86 Sq. Mtrs. The said unit is on rent. The company has also entered into lease agreement for setting up its second manufacturing unit. The said second unit is located at Industrial gala 1 to 7 ground floor Empire Estate-1 unit no. 2 Khindipada Village Vasai East, Thane 401208, which is about 14 Kms away from the existing unit. The said unit when fully functional will increase manufacturing capacity by 60% of the current capacity.
The company has been in the business since more than 12 years and the management has more than two decades of experience in the industry. Over the years Sealmatic has been successful in establishing its name in the industry and company has a strong customer base of domestic as well as foreign clients. Company has about 77% of its total sales from export of its product and 23% from domestic sales.
Some of the qualitative factors which form the basis for the Issue Price are:
• Existing Customer base of domestic and overseas clients
• One of few Indian companies approved/registered as vendor with national and international buyers
• Experienced Board of Directors and senior management team supported by skilled and qualified
workforce.
• Consistent financial performance with about 30 % growth in profit after taxes.
• Optimum utilisation of existing installed capacity and firm plan for expansion.
For more information about the company, Click www.sealmaticindia.com
Sealmatic India IPO Details | |
IPO opens on | 17 February 2023 |
IPO closes on | 21 February 2023 |
Issue Type | Book Built Issue IPO |
Issue Size | 2499600 Sh /Rs 56.24 Cr |
* Fresh Issue | 1850000 Sh /Rs 41.63 Cr |
* Offer for Sale | 649600 Sh /Rs 14.61 Cr |
Face Value per share: | Rs. 10 |
Price Band | Rs.220-225 |
Employee discount | Rs. 0 per share |
Retail Lot Size | 600 Shares |
Listing will at | BSE Sme |
Shares offered to | ||
Shares | Rs. (Cr) | |
QIB | 949440 | 21.36 |
NII | 427248 | 9.62 |
RII | 996912 | 22.43 |
Total Shares | 2373600 | 53.41 |
Retail portion will be oversubscribed by | 1662 | |
Forms | ||
How much Shares to Apply? | ||
Min Retail Application | 600 Sh | Rs. 135000 |
Max Retail Application | 1200 Sh | Rs.270000 |
Promoters of the IPO
Mr. Mohamed Hanif Chaudhari, Mr. Umar A. K. Balwa and Mr. Rafiq H. Balwa
Objects of the IPO:
This is an offer for sale & fresh issue of capital. The Objects of the Net Issue is to raise funds for:
1) Purchase of Plant and Machinery
2) Product Development
3) Marketing and after Sales Support
4) General Corporate Purpose
5) Provisions and Contingency
6) Working Capital Requirement
Sealmatic India IPO Tentative timetable | |
IPO opens on | 17 February 2023 |
IPO Closes on | 21 February 2023 |
IPO Allotment on | 24 February 2023 |
Unblocking of ASBA | 27 February 2023 |
Credit of Shares | 28 February 2023 |
Listing on | 01 March 2023 |
Registered Office of Sealmatic India |
4th Floor, Techniplex I, Off Veer Savarkar Flyover, Goregaon (West), Mumbai 400 062, Maharashtra, India |
IPO Lead Managers |
ISK Advisors Pvt Ltd |
Registrar to the IPO |
KFIN Technologies Ltd |
Sealmatic India IPO Financial & Analytical Ratios | ||||
Year | Total Income | Net Profit | EPS | RoNW |
Rs.in Cr | Rs.in Cr | Rs. | % | |
2019-20 | 33.59 | 4.94 | 6.87 | 32.41 |
2020-21 | 35.48 | 6.50 | 9.03 | 29.88 |
2021-22 | 42.77 | 8.41 | 11.69 | 27.90 |
Book Value of the Share on | 30.09.2022 | Rs.49.31 | ||
Book Value of the Share | after the IPO | Rs.85.22 | ||
Offer Price | Rs. 225 |
Ratio Analysis | |
Upper Price/last EPS | 19.25 |
Upper price/BV Ratio | 4.56 |
Upper price/BV after IPO | 2.64 |
Sealmatic India IPO Peer Comparison:
There are no listed companies in India, the business portfolio of which is comparable with its business, accordingly it is not possible to provide an industry comparison in relation to the company.
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