Fine Organics IPO – Review, Allotment Status, Subscription, Price, Date & more
Last Updated Date: Nov 17, 2022Fine Organics is the manufacturer of a wide range of specialty plant derived oleo-chemicals based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty. The Fine Organics IPO decided opening and closing dates are June 20, 2018 and June 22, 2018. Lets have a detailed Fine Organics IPO Review along with in-depth analysis of their IPO Object, Allotment Status, Issue Details, Company Background, Company Financials, IPO release date, IPO price band, Grey market pricing & more.
- Issue Price of this IPO is Rs 780 – Rs 783. Check the Live Share Price here Fine Organic Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Fine Organics IPO Review & Ratings
| Fine Organic IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.7/10 |
| Industry Ranking | 7.5/10 |
| Company Background | 7.2/10 |
| Company Reputation | 7.3/10 |
| Competitive Edge | 7.4/10 |
| Financial Statements | 7.6/10 |
| Popularity Index | 7.3/10 |
| Promoters Reputation | 7.4/10 |
| Retail Appetite | 7.7/10 |
| Top Brokers Review | 7.4/10 |
| Overall Ratings | 7.5/10 |
| Star Ratings | ★★★☆☆ |
Summary of Fine Organics IPO
Fine Organic Industries Limited IPO is all set to raise money from the 76, 64,994 equity shares that are to be sold by the existing shareholders of the company. The aim of this IPO is to see the equity shares being listed on the stock exchanges. Since the amount will be known only after the bidding, the IPO issue size is not known.
JM Financial and Edelweiss Financial Services manage the public issue of the company. This offer will raise a public market for equity shares in India. The shares will be listed both on BSE and NSE.
Fine Organic Industries Limited are the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry. (Source: CRISIL Research Report). They produce a wide range of specialty plant derived oleochemicals based additives used in the food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries. As at December 31, 2017, they had a range of 387 different products sold under the ‘Fine Organics’ brand. They are the first company to introduce slip additives in India and we are the largest producer of slip additives in the world.
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Fine Organics IPO date
The IPO opening and closing dates are June 20, 2018 and June 22, 2018.
Fine Organics IPO Subscription
| Subscription | |
| Day 1 (20th June) | 0.12 |
| Day 2 (21st June) | 0.40 |
| Day 3 (22nd June) | 8.98 |
| Day 4 | X |
| Day 5 | X |
Fine Organics IPO Allotment Status
Fine Organics IPO Allotment & Listing:
-
Fine Organics IPO Allotment Date is 28th June 2018
-
Fine Organics IPO Listing Date is 3rd July 2018
-
Fine Organics IPO Basis of Allotment: 1:1
- Basis of Allotment: 28th June 2018
- Refunds: 29th June 2018
- Credit to demat accounts: 02nd July 2018
- Listing: 03rd July 2018
Fine Organics Industries Limited IPO price band
The price band of the IPO is Rs 780 – Rs 783 Per Equity Share.
Fine Organics IPO issue size
Fine Organic Industries Limited IPO issue size around 7,664,994 Equity Shares of Face value Rs 5 aggregating up to Rs. 600.17 Crores.
Fine Organic Industries Limited IPO Equity Shares Offerings
7,664,994 Equity Shares at Issue Price Rs 780 – Rs 783 Per Equity Share and the minimum order quantity is 19 shares. The share listings at BSE & NSE.
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Fine Organic Industries Limited – Company Overview
The Fine Organic Industries Limited is a Mumbai based firm that provides additives for fertilizers, lubes, paints. Rubber, ink, textile auxiliaries, cosmetics, coatings, foods, plastics, and several other specialty applications.
The company has filed papers with the SEBI in order to float offer prices for their equity shares. Fine Organics has a good household name in the market for the exceptionally good items they produce.
The company is also said to be the pioneer in the manufacture of emulsifiers. Fine Organic Industries Limited has also started its new operational facility in the state of Maharashtra.
Strengths of the Company
- Largest Producer of Oleochemical-based Additives in India and One of the Few Large Players in the Oleochemical based Additives Industry in the World
- Diversified Product Portfolio Catering to a Variety of High Growth Industries
- Specialized Business Model with High Entry Barriers
- Flexible and Strategically Located Production Facilities with In-house Development Capabilities
- Strong R&D Capability with a Focus on Innovation
- Diversified Customer Base with Long Term Relationships with Marquee Customers
- Strong Management Team
Strategies for Growth of the Company
- Expand our Total Installed Production Capacity and Product Range
- Expand into Manufacturing Premixes for Bakery and Confectionery Products and Pan Release Agents
- Increase Sales of Higher-Margin Downstream Products
- Global Expansion
- Continuing Focus on R&D
Fine Organic Industries Limited –Financial Statement
Have a look at the Financial Stability of the company before you invest in it.
The Assets of the Company
| Assets (in INR & Millions) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Non-Current Asset | 1,759 | 1,726 | 1,676 | 1,464 | 809 |
| Current Asset | 2,817 | 2,503 | 2,100 | 1,947 | 1,745 |
| Total Asset | 4,576 | 4,228 | 3,777 | 3,411 | 2,554 |
Revenue and PAT of the Company
| Revenue & Profits (in INR & Millions) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Total Revenue | 7892 | 6661 | 6180 | 5746 | 4975 |
| Profit after Tax (PAT) | 795 | 770 | 591 | 626 | 209 |
Earnings per Equity Share
| Earning per Equity Share (in INR) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Basic | 25.33 | 24.85 | 19.70 | 21.31 | 7.21 |
| Diluted | 25.33 | 24.85 | 19.70 | 21.31 | 7.21 |
The Additives Company has grown tremendously in the past 5 years. PAT growth of 3x is recommendable & should reflect in their smooth IPO subscription.
Fine Organic Industries Limited – Promoters
The Promoters of the Company are:
- Prakash Damodar Kamat
- Mukesh Maganlal Shah
- Jyotsna Ramesh Shah
- Jayen Ramesh Shah
- Tushar Ramesh Shah
- Bimal Mukesh Shah
Interests of Promoters
The interest of promoters in the promotion of the company
The Promoters are interested in the Company to the extent that they have promoted the Company, to the extent of their respective shareholding in our Company and the dividends payable, if any, any other distributions in respect of the Equity Shares held by them and to the extent of being Executive Directors and Key Management Personnel of the Company and the remuneration payable by the Company to them.
The interest of promoters in the property of the company
The Promoters and members of the Promoter Group or any person in control have not been prohibited from accessing or operating in capital markets under any order or direction passed by SEBI or any other regulatory or governmental authority.
Promoters and members of the Promoter Group or person in control are not and have never been promoters, directors or persons in control of any company which is prohibited from accessing or operating in capital markets under any order or direction passed by SEBI or any other regulatory or governmental authority.
The interest of promoters in the intellectual property of the company
Except as disclosed in this Draft Red Herring Prospectus, our Promoters are not interested in any entity which holds any intellectual property rights that are used by our Company.
Fine Organics IPO Offer Details or Issue Details
| Offer | Up to 7,664,994 Offered Shares aggregating to Rs. 600.17 Crores |
| The Offer consists of: | |
| Offer for sale by Prakash Damodar Kamat | Up to 1,530,005 Offered Shares aggregating up to ₹ [●] million |
| Offer for sale by Mukesh Maganlal Shah jointly with Jayshree Mukesh Shah | Up to 824,397 Offered Shares aggregating up to ₹ [●] million |
| Offer for sale by Jyotsna Ramesh Shah | Up to 1,544,976 Offered Shares aggregating up to ₹ [●] million |
| Offer for sale by Jayen Ramesh Shah jointly with Neeta Jayen Shah | Up to 1,530,003 Offered Shares aggregating up to ₹ [●] million |
| Offer for sale by Tushar Ramesh Shah jointly with Bina Tushar Shah | Up to 1,530,004 Offered Shares aggregating up to ₹ [●] million |
| Offer for sale by Bimal Mukesh Shah jointly with Mukesh Maganlal Shah | Up to 705,609 Offered Shares aggregating up to ₹ [●] million |
| The Offer consists of: | |
| A) QIB portion | Not more than 3,832,496 Offered Shares |
| of which | |
| (i) Anchor Investor Portion | Up to 2,299,497 Offered Shares |
| (ii) Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) | 1,532,999 Offered Shares |
| of which | |
| Available for allocation to Mutual Funds only 5% of the QIB Portion (excluding the Anchor Investor Portion) | 76,650 Offered Shares |
| Balance of QIB Portion for all QIBs including Mutual Funds | 1,456,349 Offered Shares |
| B) Non-Institutional Portion | Not less than 1,149,750 Offered Shares |
| C) Retail Portion | Not less than 2,682,748 Offered Shares |
The Equity Shares offered by Fine Organic as per the Draft Red herring Prospectus & news are 76, 64, 994. Out of this retail portion of the subscription will be close to 26, 83, 748 shares.
Fine Organic Industries Limited IPO Issue Object
Objective of the IPO issue are:
- To get benefits of listing equity shares in the stock exchange
- Enhance Companies Brand
- Providing liquidity to the existing shareholders
Fine Organic Industries IPO – Basis of Offer Price
The Offer Price will be determined by the Company and the Selling Shareholders in consultation with the BRLMs, on the basis of assessment of market demand for the Offered Shares offered through the Book Building Process and on the basis of quantitative and qualitative factors as described below.
Qualitative Factors
We believe the following are our competitive strengths:
- Largest Producer of Oleochemical-based Additives in India and One of the Few Large Players in the Oleochemical based Additives Industry in the World
- Diversified Product Portfolio Catering to a Variety of High Growth Industries
- Specialized Business Model with High Entry Barriers
- Flexible and Strategically Located Production Facilities with In-house Development Capabilities
- Strong R&D Capability with a Focus on Innovation
- Diversified Customer Base with Long-Term Relationships with Marquee Customers
- Strong Management Team
Quantitative Factors
- Basic and Diluted Earnings per Share (face value of ₹ 5 each)
- Price / Earning (“P / E”) ratio in relation to Offer Price of ₹ [●] per Offered Shares of ₹ 5 each
- Return on Net Worth (“RoNW”)
- Minimum Return on Increased Net Worth required for maintaining pre-issue EPS
- Net Asset Value per Equity Share (face value of ₹ 5 each)
- Comparison with Listed Industry Peers
Fine Organic IPO Lead Managers
| Lead Managers |
| JM Financial Limited |
| Edelweiss Financial Services Limited |
Fine Organic IPO Registrar to the Offer
| Registrar of the Offer |
| Karvy Computershare Private Limited |
Fine Organics IPO Review by Top 10 Stock Brokers
Here is what some of the major stock brokers have to say & rate these IPO as
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 7.5/10 | 7.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 7.6/10 | 7.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 7.4/10 | 7.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 7.7/10 | 7.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 7.8/10 | 7.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 7.4/10 | 7.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 7.5/10 | 7.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 7.4/10 | 7.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 7.2/10 | 7.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 7.6/10 | 7.3/10 | 7.2/10 |
Fine Organics IPO Grey Market Premium
The Fine Organics IPO Grey Market Premium as on 23rd June is Rs 20-25; Kostak Rate is Rs 250 and Subject to sauda at Rs 1000.
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Fine Organics IPO News
News 1 – Fine Organic Industries files IPO papers with SEBI
Market Guide
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