Aartech Solonics IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 15, 2022Aartech Solonics Limited being engaged in working in the field of Specialized and Selected Energy Applications. They serve the energy sector by providing comprehensive & desirable system solutions and thus creating great value to the stakeholders. They provide technical expertise to all the customers in expanding energy market across the globe. Aartech Solonics IPO comprises of 21,20,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Aartech Solonics IPO release date, IPO offer price, subscription, Aartech Solonics IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 34 . Check the Live Share Price here – Aartech Solonics Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Aartech Solonics IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Aartech Solonics Limited IPO
Aartech Solonics Limited believe in working in the field of Specialized and Selected Energy Applications. They serve the energy sector by providing comprehensive & desirable system solutions and thus creating great value to the stakeholders. They provide technical expertise to all the customers in expanding energy market across the globe. The Issue comprises of a Public Issue of 21,20,000 Equity shares of face value of Rs.10.00 each fully paid up. The face value of the shares is Rs. 10 per Equity Shares and the Issue price is 3.4 times of the face value. The issue and the net issue will constitute 30.03% and 28.50% respectively of the post issue paid up equity share capital of our company.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,
- The company’s total income during the Financial Year March, 2018 was Rs. 1208.50 Lakh. The revenue from operations was Rs. 1130.28 Lakh. During the year 2016-17 the total revenue of the company increased to Rs. 1272.85 Lakh as against Rs. 973.38 Lakh in the year 2015-16, representing an increase of 30.77% as compared to previous year. This increase was mainly due to increase in domestic supply of products and services.
- Other income of the Company for the year 2017-18 is 121.64 and for 2016-17, it was Rs. 68.20 Lakh in comparison with Rs. 52.47 Lakh for F.Y. 2015-16.
- The restated net profit during the Financial Year March, 2018 was Rs. 117.58 Lakh representing 9.73% of the total revenue of the Company and for the year 2016-17 the profit stood at Rs. 30.09 Lakh as against the profit of Rs. 22.81 Lakh for the year 2015-16, representing an increase of 31.92% to the previous year.
The Promoters of this company are Mr. Anil Anant Raje and Mrs. Chhaya Raje. The lead manager to the issue is Swastika Investmart Limited and the Registrar to this issue is Bigshare Services Private Limited .
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Aartech Solonics IPO Date
The opening and the closing date of Aartech Solonics Limited IPO is Mar 12, 2019 – Mar 18, 2019.
Aartech Solonics IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – Mar 12 | – | 1.23x | 0.29x | 0.76x |
| 2nd Day – Mar 13 | – | 1.53x | 0.49x | 1.01x |
| 3rd Day – Mar 14 | – | 1.82x | 0.94x | 1.38x |
| 4th Day – Mar 15 | – | |||
| 5th Day – Mar 18 | – | |||
| Shares Offered or Net Issue | – | 1,004,000 | 1,004,000 | 2,008,000 |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Aartech Solonics IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | 22-Mar-19 |
| Refunds Initiation | 25-Mar-19 |
| Credit of Shares to Demat Account | 25-Mar-19 |
| Share Listing Date | 28-Mar-19 |
Aartech Solonics IPO Price Band
The face value of each share is Rs 10, but the Issue price is Rs 34 Per Equity Share.
Aartech Solonics IPO Equity Share Offering
Issue Size: 21,20,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 720.80 Lakh.
Net Issue to the Public: 20,12,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 684.08 Lakh
Aartech Solonics Limited – Company Overview
Aartech Solonics Limited originally incorporated as “Aartech Solonics Private Limited” on August, 24th, 1982. In April 23rd, 1992 the company converted to public company and the name was changed to “Aartech Solonics Limited”.
The Company is working in the field of Specialized and Selected Energy Applications. They serve the energy sector by providing comprehensive & desirable system solutions and thus creating great value to their stakeholders. They provide technical expertise to all the customers in expanding energy market across the globe.
Working around the concept of System Solution Division (SSDs). They have several operative System Solution Divisions (SSDs), BTS 2000 – Microprocessor Based Fast Bus Transfer Systems (being the flagship SSD at present), Ultra-Capacitor, Load Checker, Control & Relay Panel & Load Checkers. And offer solutions/services on Clip Fault Current Limiters, Pure Wave DSTATCOM, Pure wave UPS& Wedge Tightness Detector. They have also started business line in LED Backlit frames and trading of plastic enclosures for industrial purposes.
The Bhopal based company having two manufacturing hubs one at each Mandideep, M.P. and Parwanoo, H.P.
The Company is promoted by Mr. Anil Anant Raje and Mrs. Chhaya Raje and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Aartech Solonics Limited:
- Improve Performance and Enhance Returns from the Core Business
- Vast Experience of more than two Decades
- To Build-up a Professional Organization
- Optimal Utilization of Resources
- Advancement in R&D
- Reduction of operational costs and achieving efficiency
Aartech Solonics 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:
On the basis of standalone statement:-
Total Assets till September 2018 is Rs 1,941.52 Lakhs.
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 1938.08 | 1,945.78 | 1,872.11 | 1,922.00 | 1804.34 |
| Total Revenue | 1208.50 | 1342.05 | 1025.84 | 994.35 | 953.79 |
| Total Expense | 1071.47 | 1309.81 | 999.75 | 852.24 | 1021.91 |
| Profit After Tax | 117.58 | 30.09 | 22.81 | 112.62 | (70.41) |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 1.47 | NA | NA |
From the above statements, one could find that the Aartech Solonics Limited may perform well.
Aartech Solonics IPO – Promoters
The Promoter of this company are:
- Mr. Anil Anant Raje
- Mrs. Chhaya Raje
List of Related Parties (Key Managerial Personnel)
- Mrs. Arati Nath, Chief Financial Officer
- Mr. K R Tanuj Reddy, Company Secretary & Compliance Officer
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.
Aartech Solonics IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 21,20,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 720.80 Lakh. |
| Of which: | |
| Reserved for Market Makers | 1,08,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 36.72 Lakh. |
| Net Issue to the Public | 20,12,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 684.08 Lakh |
| Of which: | |
| Retail Investors Portion | 10,06,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 342.04 Lakh. |
| Non-Retail Investors Portion | 10,06,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs. 34/- each aggregating to Rs. 342.04 Lakh. |
| Equity Shares outstanding prior to the Issue | 49,40,094 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | 70,60,094 Equity Shares of face value of Rs.10 each |
Aartech Solonics IPO Issue Object
These are the IPO Issue Objects of the company
- Investment in wholly owned subsidiary company – “M/S AIC Aartech Solonics Private Limited”
- Investment in wholly owned subsidiary company – “ M/S Faradigm Ultracapacitors Private Limited”
- For General Corporate Expenses including Capital Expenditure & Research and Development Expenses
- Working Capital Requirement
- Meeting Public Issue Expenses.
Aartech Solonics 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:
- Timely completion of projects.
- Experienced management team and skilled workforce.
- Long term Relationship with the Clients.
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 0.46 | 1.39 | 33.33 |
| 31-Mar-17 | 0.61 | 1.79 | 33.94 |
| 31-Mar-18 | 2.38 | 5.45 | 36.26 |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 34 Standalone:
| Particulars | P/E ratio |
| P/E ratio based on the Basic & Diluted EPS, as restated for FY 2017-18 | 23.13 |
| P/E ratio based on the Weighted Average EPS, as restated for FY 2017-18 | 45.95 |
- Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| Aartech Solonics Limited | 10.00 | 2.38 | 14.29 | 5.45 | 36.26 |
| Star Delta Transformers Limited |
10.00 | 10.72 | 11.19 | 8.20 | 130.80 |
| Transformers and Rectifiers (India) Limited |
10.00 | 9.83 | 1.82 | 3.92 | 250.92 |
Aartech Solonics IPO Lead Managers
| Lead Managers |
| SWASTIKA INVESTMART LIMITED SEBI Registration Number: INM000012102 Address: Flat No.18, 2nd Floor, North Wing, Madhaveshwar Co-op- Hsg Society Ltd, Madhav Nagar, 11/12, S. V. Road, Andheri W, Mumbai– 400058. Tel No.: +91- 22-26254568-69; Fax No: +91–731–664 4300 Email Id: merchantbanking@swastika.co.in Investors Grievance Id: investorgrievance@swastika.co.in Website: www.swastika.co.in Contact Person: CS Mohit R. Goyal CIN: L65910MH1992PLC067052 |
Aartech Solonics IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED SEBI Registration No: INR000001385 Address: 1st Floor, Bharat Tin Work Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400059. Tel: +91 – 22626 38200 Fax: +91 – 22626 38299 Email: ipo@bigshareonline.com Website: www.bigshareonline.com Contact Person: Mr. Babu Rapheal CIN: U99999MH1994PTC076534 |
Other Details:
- Statutory Auditor – Spark & Associates, Chartered Accountant
- Peer Review Auditor – Baheti & Co., Chartered Accountants
Aartech Solonics IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Aartech Solonics IPO Grey Market Premium
The Aartech Solonics 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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Aartech Solonics IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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