ICL Multitrading India IPO – Review, Allotment status, Subscription & GMP Price

Last Updated Date: Nov 17, 2022

ICL Multitrading India is a multi-product branding and distribution Company. The company sells products under the Brand “ICL”. They focus on distribution through network of warehouses, super stockiest and distributors with the presence primarily in Uttar Pradesh, Uttarakhand and Jharkhand. ICL Multitrading India IPO comprises of 21,00,800 Equity shares of Rs.10 each at an Issue Price of Rs.85.

Let’s have a detailed review of the company and analytics of the ICL Multitrading India IPO release date, IPO offer price, subscription, ICL Multitrading India IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

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ICL Multitrading India IPO Review & Ratings

ICL Multitrading 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	6.0/10
Financial Statements	6.2/10
Popularity Index	6.2/10
Promoters Reputation	6.3/10
Retail Appetite	6.2/10
Top Brokers Review	6.3/10
Overall Ratings	6.2/10
Star Ratings	★★★☆☆

Summary of ICL Multitrading India IPO

ICL Multitrading India IPO The Company is a multi-product branding and distribution Company. They sell their products under the Brand “ICL”. The Company focus on distribution through network of warehouses, super stockiest and distributors with the presence primarily in Uttar Pradesh, Uttarakhand and Jharkhand. The Company have also entered into herbal products segment and are procuring herbal wellness and cosmetic products from various manufacturers which are being sold through the online platform of “www.adiherbal.com”. The Issue comprises of a Public Issue of 21,00,800 Equity shares of face value of Rs.10.00 each fully paid for cash at a price of Rs. 85 per Equity Share (including a share premium of Rs. 75 per Equity Share) (“Issue Price”) aggregating to Rs. 1,785.68 lakhs.

From FY 201-16 to FY 2017-2018, as per the Restated Financial Statements,

From fiscal 2017 to 2018, company’s revenue from operations and net profit has increased at a growth rate of 11.86% and 7.07%, respectively.

For the period ended March 31, 2018, FY 2017-16 and FY 2015-16, its revenue from operations was Rs 2,747.37, 2,456.04 Lakhs and 2,293.71Lakhs, respectively representing growth of 11.86% from the FY 2017-18 to FY 2017-18. Our net worth as on 31st March, 2018, 31 March, 2017 and 31st March 2016 was Rs. 769.45 lakhs, Rs. 259.81 lakhs & Rs. 71.00 lakhs respectively

During the financial year 2017-18 the Other Income of our company increased to Rs. 11.15 Lakhs as against Rs. 4.77 Lakhs for the financial year 2016-17, representing increase by 133.75% due to increase in interest income & insurance claim in FY 2016- 17.
Company’s Net Profit after tax for the year 2016-17 is Rs. 223.23 Lacs from the year 2015-16 of Rs. 100.05 Lacs showing an increase of 123.21% from last year, showing remarkable performance.

The Promoter of this company is Mr. Roop Kishore Gola, Mr. Avadhesh Kumar Gola, Ms. Rajni Gupta and Image Career Limted. The lead manager to the issue is CORPORATE CAPITAL VENTURES PRIVATE LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.

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ICL Multitrading India IPO Date

The opening and the closing date of ICL Multitrading India IPO is Nov 19, 2018 – Dec 3, 2018.

ICL Multitrading India IPO Subscription

Day / Date	QIB	NII	RII	Total Subscription
Day 1 – Nov 19, 2018	–	0.11x	0.00x	0.06x
Day 2 – Nov 20, 2018	–	0.11x	0.00x	0.06x
Day 3 – Nov 21, 2018	–	0.11x	0.00x	0.06x
Day 4 – Nov 22, 2018	–	0.11x	0.07x	0.09x
Day 5 – Nov 26, 2018	–	0.11x	0.07x	0.09x
Day 6 – Nov 27, 2018	–	0.11x	0.08x	0.10x
Day 7 – Nov 28, 2018	–	0.11x	0.08x	0.10x
Day 8 – Nov 29, 2018	–	0.11x	0.08x	0.10x
Day 9 – Nov 30, 2018	–	0.11x	0.08x	0.10x
Day 10 – Dec 3, 2018	–
Shares Offered or Net Issue	–	996,800	996,800	1,993,600

Total shares offered is 1,993,600 | RII – 996,800 | NII – 996,800 shares.

ICL Multitrading India IPO Allotment Status

The details of allotment made to the subscribers will be updated here upon completion of subscription and allotment process.

ICL Multitrading India IPO Price Band

The face value of each share is Rs 10 each and issue price is Rs.85.

ICL Multitrading India IPO Equity Share Offering

Issue of 2,100,800 Equity Shares having face value of Rs. 10 each at a price of Rs. 85 per Equity Share (including a share premium of Rs. 75 per Equity share) aggregating Rs. 1785.68 Lakhs.

ICL Multitrading India Limited – Company Overview

The Company was initially incorporated as Private Limited Company under the Companies Act, 1956 pursuant to a certificate of incorporation issued by the Registrar of Companies, Kanpur, Uttar Pradesh dated September 7, 2012 with the name ‘ICL Infra developers Private Limited’.Subsequently, the Company was converted into a public limited company pursuant to approval of the shareholders at an extraordinary general meeting held on November 20, 2017 and consequently, the name of our Company was changed to ‘ICL Multitrading India Limited’.The Company is focused primarily on tier 2 and tier 3 places including small towns and tehsil level places.

The Company gets their products manufactured from third party manufacturers.However, for Tea, they have established their own sorting and packaging facility located at Jalaksh Compound, Bareilly.

The Company is promoted by Mr. Roop Kishore Gola, Mr. Avadhesh Kumar Gola and Ms. Rajni Gupta., who has over a decade of experience in the industry.They are the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of ICL Multitrading India Limited:

Experienced and Qualified management team
Diversified and Innovative products range
Our brand names
Widespread sales and distribution network and supply chain competencies.

Business strategies of ICL Multitrading India Limited:

Focus on Increase in Volume of Sales
Increase geographical presence
Leverage and enhance the ICL brand name.
Major Products, Services and Processes
High Margin Products

ICL Multitrading India 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
Total Assets	2,372.42	2,037.20	925.67
Total Revenue	5,295.49	5,162.32	2,418.25
Total Expense	5,177.19	4,752.04	2,585.88
Profit After Tax	319.62	182.08	40.18

Earnings per Equity Share (in Lakhs)

	31-Dec-18	31-Mar-17	31-Mar-16
Basic & Diluted (consolidated)	7.44	6.25	1.54

From the above statements, one could find that the ICL Multitrading India Limited may perform well.

ICL Multitrading India IPO – Promoters

The Promoter of this company are:

Mr. Roop Kishore Gola
Mr. Avadhesh Kumar Gola
Ms. Rajni Gupta

List of Related Parties (Key Managerial Personnel)

Roop Kishore Gola
Avadhesh Kumar Gola
Rajni Gupta
Image Career Limited
Maagh Advertising & Marketing Services
Adi Shopping
Gwet Cold chain

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.

ICL Multitrading India IPO Offer Details or Issue Details

Particulars	No. Of Equity Shares
Equity Shares Offered	Issue of 2,100,800 Equity Shares having face value of Rs. 10 each at a price of Rs. 85 per Equity Share (including a share premium of Rs. 75 per Equity share) aggregating Rs. 1785.68 Lakhs.
Of which:
Reserved for Market Makers	Upto 107,200 Equity Shares having face value of Rs. 10 each for cash at a price of Rs. 85 per Equity Share aggregating Rs. 91.12 Lakhs.
Net Issue to the Public	Upto 1,993,600 Equity Shares having face value of Rs. 10 each for cash at a price of Rs. 85 per equity share aggregating Rs. 1,694.56 Lakhs.
Of which:
Retail Investors Portion	Upto 996,800 Equity Shares having face value of Rs.10 each (constituting 50% of the Net Issue to the Public) for cash at a price of Rs. 85 per equity share aggregating Rs. 847.28 Lakhs.
Non-Retail Investors Portion	Upto 996,800 Equity Shares having face value of Rs.10 each for cash at a price of Rs. 85 per equity share aggregating Rs. 847.28 Lakhs.
Equity Shares outstanding prior to the Issue	4,863,885 Equity Shares of face value of Rs. 10 each
Equity Shares outstanding after the Issue	6,964,885 Equity Shares of face value of Rs. 10 each

ICL Multitrading India IPO Issue Object

These are the IPO Issue Objects of the company

To meet out the Working Capital requirements of the Company;
Branding & Advertising Expenses;
General Corporate Purposes; and
Issue Expenses

ICL Multitrading India 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 and skilled management team and a motivated and efficient work force.
Wide range of services.
We have a large marketing and service network
Quality assurance

The relevant quantitative factors are:

	Basic & Diluted EPS	RONW (%)	NAV (Rs.)
31-Mar-16	1.45	39.75	–
31-Mar-17	6.25	66.41	–
31-Mar-18	7.44	39.75	15.82

Industry P/E Ratio:

Particulars	P/E ratio
Average	33.8
Highest	295.50
Lowest	8.8

anorama Industries IPO Lead Managers

Lead Managers

CORPORATE CAPITALVENTURES PRIVATE LIMITED
Address: 160, Basement, Vinoba Puri, Lajpat Nagar – II,
New Delhi – 110024, India
Tel. No: +91 114170 4066; Fax No: +91 114170 4066;
Email: info@ccvindia.com, Website: www.ccvindia.com
SEBI Registration No: INM000012276
Contact Person: Pramod Negi/Pankaj Passi

ICL Multitrading India IPO Registrar to offer

Registrar to the Offer

BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
Makwana Road, Marol, Andheri East, Mumbai – 400059
Tel No.: 022-62638200, Fax No.: 022-62638299;
Website: www.bigshareonline.com
Email: ipo@bigshareonline.com;
Contact Person: Srinivas Dornala
SEBI Registration No.: INR000001385

Other Details:

Statutory Auditor – M/s. Saroj Kumar Jha & Associates, Chartered Accountants
Peer Review Auditor –Saroj Kumar Jha & Associates, Chartered Accountants
Bankers to the Company – ICICI Bank

ICL Multitrading India 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