A-1 Acid Limited IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 28, 2022A-1 Acid Limited is engaged in the business of trading of high quality industrial acid and Chemicals. A-1 Acid Limited IPO comprises of 3000000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the A-1 Acid Limited IPO release date, IPO offer price, subscription, A-1 Acid Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
A-1 Acid Limited IPO Review & Ratings by Top10StockBroker
| A-1 Acid Limited IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of A-1 Acid Limited IPO
A-1 Acid Limited is engaged in the business of trading of high quality industrial acid and Chemicals.The Issue comprises of a Public Issue of 30,00,000 Equity shares of face value of Rs.10.00 each fully paid up. The Issue and the Net Issue will constitute 30.00% and 28.44%, respectively of the post issue paid-up equity share capital of the Company. The Promoters of this company are HarshadKumar Patel and Jitendra Patel. The lead manager to the issue is Guiness Corporate Advisors Private Limited and the Registrar to this issue is Cameo Corporate Services Limited .
- As per restated financial statements for the fiscal year ended on March 31, 2018, 2017 and March 31, 2016, the total revenue of the Company stood at Rs. 9616.50 lakhs, Rs. 10579.67 lakhs, and Rs. 8539.29 lakhs respectively.
- During the financial year 2017-18 the Other Income of the company increased to Rs. 156.59 Lakhs as against Rs. 8.94 Lakhs for the financial year 2016-17, representing increase by 165.1% due to increase in interest income & insurance claim in FY 2017- 18.
- Profit after tax for fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016 stood at Rs. 247.88 lakhs, Rs. 300.04 lakhs, and Rs. 92.48 lakhs respectively.
- The Net Worth as at March 31, 2018, March 31, 2017 and March 31, 2016 as per the restated financial statements were Rs. 1378.30 Lakhs, Rs.1130.41 Lakhs and Rs. 830.37 Lakhs respectively.
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A-1 Acid Limited IPO Date
The opening and the closing date of IPO of A-1 Acid Limited is not known yet.
A-1 Acid Limited IPO Subscription
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The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
A-1 Acid Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
A-1 Acid Limited IPO Price Band
The face value of each share is Rs 10, the price band of the IPO is Rs 60.
A-1 Acid Limited IPO Equity Share Offering
30,00,000 Equity Shares of Rs 10/- each and Issue Price is Rs 60, aggregating to Rs. 1800 Lakhs.
A-1 Acid Limited – Company Overview
A-1 Acid Limited was originally incorporated as A-1 Acid Private Limited under the Companies Act, 1956 and a certificate of incorporation was issued by Assistant Registrar of Companies, Gujarat, Dadra & Nagar Haveli on April 22, 2004. A fresh certificate of incorporation consequent upon conversion to public limited Company was issued by the Assistant Registrar of Companies, Ahmedabad, Gujarat dated January 29, 2018.
A-1 Acid Limited is engaged in the business of trading of high quality industrial acid and Chemicals. They offer a wide range of chemical products which finds variety of applications in the industrial sector like chemical, textile, steel, aluminium, pesticides, fertilizers, intermediates, defence, metals and petro refineries. They also provide transportation facilities to their customers through their owned fleet of tankers.
The Company is promoted by HarshadKumar Patel and Jitendra Patel and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of A-1 Acid Limited:
- Experienced Management Team
- Quality Assurance and Standards
- Cordial relationships with the suppliers
Business strategies of A-1 Acid Limited:
- Improving operational efficiencies
- Expand geographical reach
- Strengthening the brand
- To build-up a professional organization
- Training the employees
A-1 Acid Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 3,934.67 | 3,765.29 | 2,593.89 | 2,415.72 | 2,436.23 |
| Total Revenue | 9,616.50 | 10,579.67 | 8,539.29 | 9,700.82 | 10,114.03 |
| Total Expense | 9,227.52 | 10,129.97 | 8,414.74 | 9,685.40 | 10,046.33 |
| Profit After Tax | 247.88 | 300.04 | 92.48 | 12.61 | (12.39) |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 3.54 | 4.29 | 1.32 |
From the above statements, one could find that the A-1 Acid Limited may perform well.
A-1 Acid Limited IPO – Promoters
The Promoters of this company are:
- HarshadKumar Patel
- Jitendra Patel
List of Related Parties (Key Managerial Personnel)
- Rita Patel ,
- Binduben J Patel
- Avkar Chemicals
- Harshadbhai N Patel
- Jitendra N Patel
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
A-1 Acid Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Issued: Public Issue of Equity Shares by the Company |
Issue of 30,00,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs. 60.00 per Equity Share (including a share premium of Rs. 50.00 per Equity Share) aggregating Rs. 1800.00 Lakhs |
| of which | |
| Issue Reserved for the Market Makers |
Issue of 1,56,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs. 60.00 per Equity Share aggregating Rs. 93.60 Lakhs |
| Net Issue to the Public* | Issue of 28,44,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs. 60.00 per Equity Share aggregating Rs. 1706.40 Lakhs |
| Of which | |
| 14,22,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs. 60.00 per Equity Share aggregating Rs. 853.20 Lakhs will be available for allocation to Retail Individual Investors. | |
| 14,22,000 Equity Shares having face value of Rs. 10.00 each at a price of Rs. 60.00 per Equity Share aggregating Rs. 853.20 Lakhs will be available for allocation other than to Retail Individual Investors. | |
| Equity Shares outstanding prior to the Issue |
70,00,000 Equity Shares of face value of Rs.10/- each |
| Equity Shares outstanding after the Issue |
10,00,000 Equity Shares of face value of Rs.10/- each |
A-1 Acid Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company:
- General Corporate Purposes
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| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO |
A-1 Acid Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Management Team
- Quality Assurance and Standards
- Cordial relationships with the suppliers
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 1.32 | 11.14 | – |
| 31-Mar-17 | 4.29 | 26.54 | – |
| 31-Mar-18 | 3.54 | 17.98 | 19.69 |
- Industry P/E Ratio
| Particulars | P/E Ratio |
| P/E ratio based on the Basic & Diluted EPS, as restated for FY 2017-18 | 3.54 |
| P/E ratio based on the Weighted Average EPS, as restated | 3.42 |
- Competitive Peers:
They believe that there is no other listed Company which is specifically comparable to us w.r.t their business model, size and financials.
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| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Varroc Engineering IPO |
A-1 Acid Limited IPO Lead Managers
| Lead Managers |
| GUINESS CORPORATE ADVISORS PRIVATE LIMITED 18, Deshapriya Park Road, Kolkata 700 026, West Bengal, India. Telephone: +91 33 3001 5555 Facsimile: +91 33 3001 5531 Email: gcapl@guinessgroup.net Investor Grievance Email: gcapl.mbd@guinessgroup.net Contact Person: Alka Mishra Website: www.guinessonline.net SEBI registration number: INM000011930 4 |
A-1 Acid Limited IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED Subramanian Building 1 Club House Road, Chennai-600 002 Tel : +91-44-28460390; Fax : +91-44-28460129; E-mail: cameo@cameoindia.com ; Website: www.cameoindia.com ; Contact Person: Mr. R.D Ramasamy SEBI Registration No: INR 000003753 |
Other Details:
- Statutory Auditor – M/s. Prakash B. Sheth & Co.
- Peer Review Auditor -M/s. Mittal & Associates,Chartered Accountants
- Bankers to the Company – Deutsche Bank AG
A-1 Acid Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
A-1 Acid Limited IPO Grey Market Premium
The A-1 Acid Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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A-1 Acid Limited IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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