August 1, 2024
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Trom Industries IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Table of Contents
Trom Industries IPO listing Review
Trom Industries IPO allotment Link
What is the latest grey market premium of Trom Industries IPO?
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Subscription status of Trom Industries IPO
Trom Industries IPO Subscription StatusPrice Rs. 115, Lot 1200 shares Rs.20.87 Crore |
||||
| QIB | NII X | RII X | Total X | Applications |
| 197.07 | 751.60 | 483.14 | 459 | 365255/483.14x |
| Amount wise bids recd. Rs.9579Crore | ||||
| Note: Very impressive subscriptions | ||||
What is the business of Trom Industries?
Trom Industries Limited is a Solar EPC (Engineering, Procurement, and Construction) company specializing in residential solar rooftop, industrial solar power plants, ground-mounted solar power plants, and solar street lights.
Trom is engaged in the comprehensive development of diverse solar projects. For residential rooftop installations, Trom designs and implements solar systems tailored to individual homes.
Furthermore, it was also engaged in the trading of all types of footwear to a very small scale
during the said period. We are actively engaged in the development of green hydrogen projects as a pivotal aspect of its future business endeavors.
Get more information about the company @ www.tromindustries.com
Trom Industries IPO Details |
|
| IPO opens on | 25 July 2024 |
| IPO closes on | 29 July 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2727600 Shares / Rs 31.37 Crore |
| * Fresh Issue | 2727600 Shares / Rs 31.37 Crore |
| * Offer for Sale – | |
| Market Maker Portion | 136800 Shares |
| Net offer to Public | 2590800 Shares/ Rs.29.79 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.110-115 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (50%) | 1295400 | 14.90 |
| NII (15%) | 388620 | 4.47 |
| RII (35%) | 906780 | 10.43 |
| Total Shares | 2590800 | 29.79 |
| Retail portion will be oversubscribed by | 756 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1200 Shares | Rs.138000 |
| Min HNI Application | 2400 Shares | Rs.276000 |
Who are the Promoters of Trom Industries IPO?
THE PROMOTERS OF OUR COMPANY ARE JIGNESH PATEL AND PANKAJ PAWAR
What are the Objects of Trom Industries IPO?
The Offer comprises of only fresh issue of shares.
The objectives of the Offer are to:
1. Funding of capital expenditure requirements of the Company towards set up of Solar Power Plant;
2. To meet the working capital requirements; and
3. General corporate purposes.
Tentative timetable |
|
| IPO opens on | 25 July 2024 |
| IPO Closes on | 29 July 2024 |
| IPO Allotment on | 30 July 2024 |
| Refund Initiation | 31 July 2024 |
| Credit of Shares | 31 July 2024 |
| Listing on | 1 August 2024 |
| Registered Office of the Company 4th Floor, 421, Pramukh Tangent, NR. Sargasan Cross Road, Gandhinagar – 382421, Gujarat, |
| Who is the Lead Manager of this IPO? Expert Global Consultants Pvt ltd |
| Who is the Registrar to IPO? Kfin Technologies Limited |
Trom Industries IPO Financial & Analytical Ratios |
||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Crore | Rs. | % | |
| 2021-22 | 30.57 | 0.36 | * | |
| 2022-2 | 24.14 | 0.29 | * | |
| 2023-24 6M | 40.33 | 4.0 | * | |
| Book Value of the Share on 31.03.2024 | Rs – | |||
| BV of the Share at cap price | after the IPO | Rs. | ||
| Offer Price/upper band | Rs. 115 | |||
IPO
|
|
| Price/last EPS of 22-23 | 23.48 |
| Price/BV Ratio | 3.47 |
| Upper price/BV after IPO | – |
How Trom Industries IPO compares with the Peers?
There is no listing company having such type of business.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Trom Industries | 10 | 40.23 | |
| Alpex Solar | 10 | 194.68 | 179.68 |
| Australian Premium Solar | 10 | 94.56 | 119.30 |
| Solex Energy | 10 | 234.16 | 170.47 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Trom Industries IPO Review
Trom Industries Limited is a Solar EPC (Engineering, Procurement, and Construction) company specializing in residential solar rooftop, industrial solar power plants, ground-mounted solar power plants, and solar street lights. Furthermore, it was also engaged in the trading of all types of footwear to a very small scale
during the said period.
Size: Net size of the IPO is Rs. 29.79 crore, which is not very small, compared to other SME IPOs. The retail portion is Rs. 10.43 Crore and NII portion is Rs.4.47 Crore. Oversubscription is not an issue.
Financial Snapshot: The company make tiny profits of Rs. 36 lacs on turnover of Rs.30.57 crore in the year 2021-22 and in the subsequent year also, the profit was only Rs. 29 lacs. Now in the period prior to the IPO, it earned net profit of Rs. 4.20 crore on turnover of Rs. 40.33 crore. Such sharp rise in the period just prior to the IPO is eye-opening and we are not sure whether such profits can be maintained in the coming years. Moreover the company has issued rights shares and bonus shares in the first week of March 2024 and accordingly the sharecapital has moved up from Rs.1 crore to Rs.6.46 crore. So from proper financial angle, we have to rework the earnings per share with enlarged equity share capital of 6467266 shares. The company is engaged in footwear business and during 9 months of 2023-24, it earned income of 5.38% from footwear business. and 36.52% from trading of Solar items. With above aspects in mind, we donot find this IPO attractive and it may be avoided.
+ from fundamental angle: May Avoid.
+ from grey market angle: ?
Quicklinks
Trom Industries IPO GMP today allotment, review?
Trom Industries IPO GMP grey market premium
Trom Industries IPO FAQs
What is Trom Industries IPO?
This is a SME IPO of 2727600 equity shares of the face value of Rs. 10 aggregating up to Rs.31.37 Crores. The issue is priced at Rs.110-115 per share. The minimum order quantity is 1200 Shares.
When will Trom Industries IPO subscription open?
The IPO opens on July 25, 2024, and closes on July 29, 2024.
What is the lot size of Trom Industries IPO?
The IPO lot size is 1200 Shares, and the minimum amount required is Rs.138000
How to apply for Trom Industries 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 Trom Industries IPO allotment?
The finalization of Basis of Allotment for this IPO will be done on 30 July, 2024, and the allotted shares will be credited to your demat account by July 31, 2024.
When is Trom Industries IPO listing date?
This IPO listing date is August 01, 2024.
