Astra Metal Systems IPO – Review, Allotment, Subscription, Price, Date & more
Last Updated Date: Nov 16, 2022Astra Metal Systems IPO or AMSL IPO consists of 41,70,000 Equity shares of Rs.10 each. Astra Metal Systems Limited (AMSL), was incorporated in the year 1997 and is engaged in the business of Precision Sheet Metal Components manufacturing, its Fabrication, Finishing and Assemblies.
Let’s have a detailed review of the company and analytics of the Astra Metal Systems IPO release date, IPO offer price, subscription, Astra Metal Systems IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Astra Metal Systems IPO Review & Ratings
| Astra Metal Systems 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 Astra Metal Systems IPO or AMSL IPO
Astra Metal Systems Limited (AMSL), is engaged in the business of Precision Sheet Metal Components manufacturing, its Fabrication, Finishing and Assemblies.The Issue comprises of a Public Issue of 41,70,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price of Rs.45.00 (including a premium of Rs.35.00 per Equity Share) aggregating to Rs.1876.50 lakhs. The Issue and the Net Issue will constitute 26.75% and 25.40% respectively of the post issue paid up Equity Share Capital of the Company.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:
From fiscal 2015 to 2016, company’s revenue from operations and net profit has increased at a growth rate of (25.21) % and (67.3)%, respectively.
- For the period ended December 31, 2017 the Company’s Total Consolidated Income and Restated Profit after Tax were Rs. 3962.00 Lacs and Rs. 307.99 Lacs, respectively. For the year ended March 31, 2017, the Company’s Total Consolidated Income and Restated Profit after Tax were Rs 4439.91. Lacs and Rs. 118.33 Lacs, as compared to the year ended March 31, 2016.
- Company’s Total Consolidated Income and Restated Profit after Tax was Rs. 5725.62 Lacs and Rs. 392.55 Lacs.
The Promoter of this company is Mr. Satish Shinde and Mr. Charles Charlton Collaco . The lead manager to the issue is SWASTIKA INVESTMART LIMITED and the Registrar to this issue is SKYLINE FINANCIAL SERVICES PRIVATE LIMITED.
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Astra Metal Systems IPO Date
The opening and the closing date of IPO of Astra Metal Systems is not known yet.
Astra Metal Systems IPO Subscription
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Astra Metal Systems IPO Allotment Status
The Issue is being made through the Fixed Price Process wherein up to 41,70,000 Equity Shares shall be reserved for Market Maker upto 2,10,000 and 39,60,000 for the net public issue. The Issue and the Net Issue will constitute 26.75% and 25.40% respectively of the post issue paid up Equity Share Capital of the Company. Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.
Astra Metal Systems IPO Price Band
The face value of the Equity Shares of the Company is Rs.10.00 per equity share and the Issue Price is 4.5 times of the face value
Astra Metal Systems Equity Share Offering
41,70,000 Equity Shares of Rs 10/- each with the Issue Price of Rs. 45 including the premium of Rs.35, so it will be aggregated to Rs 1876.50 lakhs. Percentage of Issue Size available for allocation to net public is 94.96% of the Issue Size.
Astra Metal Systems Limited – Company Overview
Astra Metal Systems Limited (AMSL), was incorporated in the year 1997. Astra Metal Systems Private Limited was changed to “Astra Metal Systems Limited” vide Special resolution passed by the Shareholders at the Extra Ordinary General Meeting held on May 15, 2018 and a fresh certificate of incorporation dated May 30, 2018 issued by the Registrar of Companies, Goa.
Astra Metal Systems is engaged in the business of Precision Sheet Metal Components manufacturing, its Fabrication, Finishing and Assemblies. It manufactures the final products by fabricating the Precision sheet metal through passing from various processes. It has following manufacturing unit’s in state of Goa and Chennai.The Company has expanded its operations by investing in high-end technology & infrastructure and presently has four units.
Astra Metal Systems Limited is engaged in state of the art equipment like CNC Laser cutting machines Salvagnini OF- Amada, CNC Punch presses Trumpf –Amada- Salvagnini S4, CNC Press brakes ranging from 35 – 200 Tons, TIG/MIG Welding, Spot welders,nut serters, Time savers, Tapping , Drilling. They also provide end to end solutions in sheet metal fabrication i.e. CNC Punching, CNC Laser cutting, CNC Bending, Welding- Mild Steel, Stainless Steel, Aluminium Sandering and Finishing (Time saver), Powder Coating. It has critical end use equipment manufactured for aerospace, Telecom, Medical, Racks, Railways and Kiosks etc.
The manufacturing stages of sheet metal components and other products are consistently and regularly supervised through various quality control equipment and qualified personnel. Each product is monitored and checked for quality right from the inception stage to the final stage of manufacturing. The manufacturing units have strong quality management systems certified by ISO 9001.
Competitive Strengths of Astra Metal Systems Limited:
- Technological Advantage.
- Design and Development.
- Long standing relationship with the customers.
- Wide product range and customized product offering
- Experienced Promoters and Management Expertise.
- Cost Effective sourcing and Strategic Location of Manufacturing Unit.
Business strategies of Astra Metal Systems Limited:
- Expand its product portfolio to cater to consumer preferences.
- Adoption of advanced design and production technology
- Leveraging its Market skills and Relationships.
- Optimal Utilization of Resources.
Astra Metal Systems 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-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 3918.02 | 3330.43 | 3738.65 | 3697.61 | 2526.36 | 2462.99 |
| Total Revenue | 3962.00 | 4439.91 | 5725.62 | 4430.50 | 2253.17 | 1963.21 |
| Total Expense | 3483.28 | 4160.74 | 5134.59 | 4223.35 | 2133.12 | 2016.59 |
| Profit After Tax | 310.24 | 126.67 | 387.45 | 154.47 | 102.54 | (56.70) |
Earnings per Equity Share (in Lakhs)
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 |
|
| Basic / Diluted | 57.04 | 23.29 | 71.24 | 28.4 | 18.85 | – |
From the above statements, one could find that the Astra Metal Systems Limited may perform well.
Astra Metal Systems IPO – Promoters
The Promoters of this company are:
- Mr. Satish Shinde
- Mr. Charles Charlton Collaco
List of Related Parties (Key Managerial Personnel)
- Mr. Satish Shinde
- Mr. Charles Charlton Collaco
- Mr. Pradip Antonio Peregrino DA Costa
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.
Astra Metal Systems IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Public Issue of 41,70,000 Equity Shares of face value of Rs. 10/- each of the Company for cash at a price of Rs. 45/- per Equity Share (including a share premium of Rs. 35/- per equity share) (“Offer Price”) aggregating Rs. 1876.50 Lakhs, |
| Of which: | |
| Reserved for Market Makers | 2,10,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. 45 /- per Equity Share aggregating Rs. 94.50 lakhs |
| Net Issue to the Public | 39,60,000 Equity Shares of face value of Rs.10/- each fully paid up of the Company for cash at price of Rs.45/- per Equity Share aggregating Rs. 1782.00 lakhs |
| Of which: | |
| Retail Investors Portion | 19,80,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. 41/- per Equity Share aggregating Rs. 891.00 lakhs will be available for allocation for allotment to Investors of up to Rs. 2 lakhs |
| Non-Retail Investors Portion | 19,80,000 Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. 41/- per Equity Share aggregating Rs. 891.00 lakhs will be available for allocation to investors above Rs. 2 lakhs |
| Equity Shares outstanding prior to the Issue | 1,14,21,102 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | 1,55,91,102 Equity Shares of face value of Rs.10 each |
Astra Metal Systems IPO Issue Object
These are the IPO Issue Objects of the company
- To Meet Working Capital Requirement.
- To meet Issue Expenses
- For General Corporate Purpose
Astra Metal Systems 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:
- Technological Advantage.
- Design and Development.
- Long standing relationship with the customers.
- Wide product range and customized product offering
- Experienced Promoters and Management Expertise.
- Cost Effective sourcing and Strategic Location of Manufacturing Unit.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV in Rs. | |
| 31-Mar-16 | 3.44 | 22.95 | 314.44 |
| 31-Mar-17 | 1.04 | 6.47 | 336.20 |
| 31-Dec-17 | 2.70 | 14.42 | 392.83 |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| P/E ratio based on the Basic & Diluted EPS, as restated for FY 2016-17 | 43.43 |
| P/E ratio based on the Weighted Average EPS, as restated | 24.50 |
- Competitive Peers:
| Company | Standalone/
Consolidated |
EPS | P/E ratio | NAV per share | RoNW | Face value per share |
| Astra Metal Systems Limited | Standalone | 1.11 | 40.57 | 337.37 | 17.72 | 10 |
| Arcotech Limited | Standalone | 2.5 | 18.00 | 21.5 | 6.72 | 10 |
Astra Metal Systems IPO Lead Managers
| Lead Managers |
| SWASTIKA INVESTMART LIMITED 305, Madhuban Building, Cochin Street, S.B.S. Road, Fort, Mumbai, Maharashtra – 400 001. Tel No.:+91–22–2265 5565 Fax No.:+91–22–664 4300 Email: merchantbanking@swastika.co.in Investor Grievance Email: investorgreivance@swastika.co.in Website: www.swastika.co.in Contact Person: Mr. Mohit R. Goyal SEBI Regn. No.: INM000012102 |
Astra Metal Systems IPO Registrar to offer
| Registrar to the Offer |
| SKYLINE FINANCIAL SERVICES PRIVATE LIMITED D-153A, 1st Floor, Okhla Industrial Area Phase-I, New Delhi – 110020 Tel No.:+91 11 64732681-88 Fax No.:+91 11 26812682 Email: virenr@skylinerta.com; Investor Grievance Email: grievances@skylinerta.com Website:www.skylinerta.com Contact Person: Mr. Virender Rana SEBI Regn. No.:INR00000324 |
Other Details:
- Statutory Auditor –M/s S. P. Bhandare & Associates.
- Peer Review Auditor –M/s Mistry and Shah, Chartered Accountants.
Astra Metal Systems 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 |
The ratings would be updated once the financials and the other details of the IPO are released.
Astra Metal Systems IPO Grey Market Premium
The Astra Metal Systems IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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Astra Metal Systems IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
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