Fine Organics IPO – Review, Allotment Status, Subscription, Price, Date & more

Fine Organics IPO is one of the latest IPO drafted with SEBI on Feb 12th 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.


Fine Organics IPO Review & Ratings

Fine Organic IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.7/10
Industry Ranking7.5/10
Company Background7.2/10
Company Reputation7.3/10
Competitive Edge7.4/10
Financial Statements7.6/10
Popularity Index7.3/10
Promoters Reputation7.4/10
Retail Appetite7.7/10
Top Brokers Review7.4/10
Overall Ratings7.5/10
Star Ratings★★★☆☆

Summary of Fine Organics IPO

fine organics ipoFine 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 date has not been released yet.

Fine Organics IPO Subscription

Subscription
Day 1X
Day 2X
Day 3X
Day 4X
Day 5X

The IPO issue data has not been announced yet. Once the IPO date has been issued, the subscription details will be updated regularly.

Fine Organics IPO Allotment Status

Since the issue date has not been fixed yet, the Allotment Status is not out. The Allotment status will be announced about 3-4 weeks of the IPO issue date.

Fine Organics Industries Limited IPO price band

The price band of the IPO will be known only after the offer price of the IPO issues is known. One can know about the price band of the IPO in about a week.

The face value of each equity share is Rs 10 each and the Offer Price would be [●] times the Face Value at the lower end of the Price Band and [●] times the Face Value at the higher end of the Price Band.

Fine Organics IPO issue size

Fine Organic Industries Limited IPO issue size is not known. This IPO size will be published before 2-3 weeks of IPO issue date.

Fine Organic Industries Limited IPO Equity Shares Offerings

The equity shares will be listed after the issues get approval from the SEBI.


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’17Mar’16Mar’15Mar’14Mar’13
Non-Current Asset1,7591,7261,6761,464809
Current Asset2,8172,5032,1001,9471,745
Total Asset4,5764,2283,7773,4112,554

Revenue and PAT of the Company

Revenue & Profits (in INR & Millions)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Total Revenue78926661618057464975
Profit after Tax (PAT)795770591626209

Earnings per Equity Share

Earning per Equity Share (in INR)
 Mar’17Mar’16Mar’15Mar’14Mar’13
Basic25.3324.8519.7021.317.21
Diluted25.3324.8519.7021.317.21

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

OfferUp to 7,664,994 Offered Shares aggregating to ₹ [●] million
The Offer consists of:
Offer for sale by Prakash Damodar KamatUp to 1,530,005 Offered Shares aggregating up to ₹ [●] million
Offer for sale by Mukesh Maganlal Shah jointly with Jayshree Mukesh ShahUp to 824,397 Offered Shares aggregating up to ₹ [●] million
Offer for sale by Jyotsna Ramesh ShahUp to 1,544,976 Offered Shares aggregating up to ₹ [●] million
Offer for sale by Jayen Ramesh Shah jointly with Neeta Jayen ShahUp to 1,530,003 Offered Shares aggregating up to ₹ [●] million
Offer for sale by Tushar Ramesh Shah jointly with Bina Tushar ShahUp to 1,530,004 Offered Shares aggregating up to ₹ [●] million
Offer for sale by Bimal Mukesh Shah jointly with Mukesh Maganlal ShahUp to 705,609 Offered Shares aggregating up to ₹ [●] million
The Offer consists of:
A) QIB portionNot more than 3,832,496 Offered Shares
of which
(i) Anchor Investor PortionUp 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 Funds1,456,349 Offered Shares
B) Non-Institutional PortionNot less than 1,149,750 Offered Shares
C) Retail PortionNot 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

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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.

The face value of the Equity Shares is ₹ 5 each and the Offer Price is [●] times at the lower end of the Price Band and [●] times the face value at the higher end of the Price Band.

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

The Offer Price is [●] times of the face value of the Equity Shares


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 ReviewCompany Repu-tationCompe-titive EdgeFinan-cial State-mentPopu-larity IndexPromo-ters Repu-tation
Angel Broking7.5/107.4/107.5/107.1/107.1/10
Sharekhan7.2/107.1/107.6/107.1/107.2/10
Kotak Securities7.3/107.5/107.4/107.1/107.3/10
ICICI Direct7.3/107.3/107.7/107.1/107.1/10
IIFL7.5/107.2/107.8/107.0/107.1/10
Edelweiss7.5/107.4/107.4/107.3/107.2/10
Zerodha7.4/107.1/107.5/107.1/107.0/10
5Paisa7.1/107.1/107.4/107.1/107.1/10
Karvy7.4/107.3/107.2/107.1/107.1/10
Motilal Oswal7.1/107.1/107.6/107.3/107.2/10

Fine Organics IPO Grey Market Premium

The Fine Organic IPO Grey Market Premium will be announced two weeks before the price of the issue is announced.


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Fine Organics IPO News

News 1 – Fine Organic Industries files IPO papers with SEBI


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