Kritika Wires Private Limited in the business of manufacturing high quality galvanized steel wires and wire products. Let’s have a detailed review of the company and analytics of the Kritika Wires IPO release date, IPO offer price, subscription, Kritika Wires IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Kritika Wires IPO Review & Ratings
|Kritika Wires IPO Ratings & Review|
|Top Brokers Review||6.3/10|
Summary of Kritika Wires IPO
Kritika Wires Limited has launched Initial Public Issue of 22, 80,000 Equity Shares of a Face value of Rs 10 per equity share.Company has been in the business of manufacturing high quality galvanized steel wires and wire products and have been meeting the requirement of various clients in the government and private sectors like power, infrastructure, railway and many more industries. The products manufactured by the Company are used for transmission and distribution of Electricity, manufacturing of concrete slippers, poles, bridges and other infrastructure facilities. The manufacturing facilities are situated at the following two units located at Dhulagarh Industrial Park, Kolkata, West Bengal.
From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,
i) total revenue has shown growth from Rs. 14911.27 lakhs to Rs.20705.52 lakhs, representing a CAGR of 27.90%.
ii) The profit after tax has shown growth from Rs.101.19 lakhs to a profit of Rs.266.65 lakhs. The restated total revenue and Profit after tax for the period ended December 31, 2018 was Rs. 9831.86 lakhs and 430.99 lakhs respectively.
The Promoter of this company is Mr. Naresh Agarwal, Mr. Hanuman Prasad Agarwal. The lead manager to the issue is HEM SECURITIES LIMITED and the Registrar to this issue is LINKINTIME INDIA PRIVATE LIMITED.
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Kritika Wires IPO Date
The opening and the closing date is 26 Sept 2018 – 1 Oct 2018.
Kritika Wires IPO Subscription
|Day / Date||NII||RII||Total Subscription|
|Day 1: 26 Sept 2018||1.93x||0.09x||1.01x|
|Day 2: 27 Sept 2018|
|Day 3: 28 Sept 2018|
|Day 4: 1 Oct 2018|
|Shares Offered or Net Issue||2,280,000||2,280,000||4,560,000|
Kritika Wires IPO Allotment Status
The details of allotment of shares made by the company to the public will be updated herein once the company is through with the allotment process. Here, you can find the Allotment Status of this IPO.
Kritika Wires IPO Price Band
The details of the issue price is Rs 32 Per Equity Share.
Kritika Wires IPO Issue Size
The Issue Size is 48, 12,000 Equity Shares of Rs. 10. The minimum order quantity or market lot is 4000 shares.
Kritika Wires IPO Equity Share Offer
The Issue Size is of 4,812,000 Eq Shares of Rs 10, at issue price Rs 32 Per Equity Share, aggregating up to Rs 15.40 Crores . Issue of up to 45, 60,000 excluding Market Maker Reservations ie; 2, 52,000 Equity Shares of face value of Rs.10 each by the company.
Kritika Wires – Company Overview
The Company was originally incorporated as Kritika Wires Private Limited on May 31, 2004 under the provisions of Companies Act, 1956. The Company has been in the business of manufacturing high quality galvanized steel wires and wire products and have been meeting the requirement of various clients in the government and private sectors like power, infrastructure, railway and many more industries. The products manufactured by the Company are used for transmission and distribution of Electricity, manufacturing of concrete slippers, poles, bridges and other infrastructure facilities.
Starting with commercial production of wire drawing of high carbon, low carbon and alloy steel it went for wire processing like galvanizing, stranding and barbed –steel wires in the year 2010.
Competitive Strengths of Kritika Wires Limited:
This company has entered in diversified range of products on the basis of demand and supply in the market. With the government’s thrust on electrification and infrastructural developments, the company has also continuously increased the production capacity.
- Government Contractor
- Quality Assurance and State of Art Infrastructure.
- Recognized and Established Client Base
- Wide range of Products and Timely Delivery
- Leveraging the expertise of our Senior Management Team
Business strategies of Kritika Wires Limited:
- Augment our working capital base in order to better utilize our installed capacities
- Broaden our marketing base
- Improve our manufacturing facilities by delivering cost effective products
- Focus on consistently meeting quality standards
- Optimal Utilization of Resources and Incentives
Kritika Wires 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:
|Amount (in INR & Lakhs)|
|Total Assets||11376.69||115 72.92||9428.75||9762.51||6020.98|
|Profit After Tax||266.65||104.85||42.98||101.19||120.90|
Earnings per Equity Share (in Lakhs)
From the above statements, one could find that the Kritika Wires Limited may perform well.
Kritika Wires IPO – Promoters
The Promoter of this company: MR. NARESH KUMAR AGARWAL and MR. HANUMAN PRASAD AGARWAL.
List of Related Parties (Key Managerial Personnel)
- Alltime Suppliers Pvt Ltd
- R.A. Comptech Investment & Consultant Pvt Ltd
- Mohta Agencies Pvt Ltd
- Balaji Electrodes Private Limited
Interest in promotion of the Company
The Managing Director, Mr. Naresh Kumar Agarwal and Mr. Hanuman Prasad Agarwal may be deemed to be interested to the extent of being Promoter of the company. He may also be deemed to be interested to the extent of any dividend payable to
him and other distributions in respect of the Equity Shares held by them.
The Directors may be deemed to be interested to the extent of remuneration paid to them for services rendered as a Director of the Company and reimbursement of expenses payable to them. The Directors may also be interested to the extent of Equity Shares, if any, held by them or held by the entities in which they are associated as promoters, directors, partners, proprietors or trustees or held by their relatives or that may be subscribed by or allotted to the companies, firms, ventures, trusts in which they are interested as promoters, directors, partners,
proprietors, members or trustees, pursuant to the Issue.
The Directors have not entered into any contract, agreement or arrangements within a period of two years preceding the date of this draft Prospectus in which the Directors are interested directly or indirectly and no payments have been made to them in respect of these contracts, agreements or arrangements or are proposed to be made to them.
Kritika Wires IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Issue of Equity Shares by the Company||48,12,000 Equity Shares of ₹10/- each for cash at a price of Rs 32 per share.|
|Market Maker Reservation Portion||2,52,000 Equity Shares of ₹10/- each for cash at a price of ₹[●] per share aggregating to ₹[●] Lakhs|
|Net Issue to the Public||45,60,000 Equity Shares of ₹10/- each for cash at a price of ₹[●] per share aggregating to ₹[●] Lakhs.|
|Retail Investors Portion up to 2 Lakh||22,80,000 Equity Shares of ₹10/- each for cash at a price of ₹[●] per share (including a premium of ₹[●] Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to ₹2.00 Lakhs.|
|Non-Retail Investors Portion Above 2 Lakh||22,80,000 Equity Shares of ₹10/- each for cash at a price of ₹[●] per share (including a premium of ₹[●] Equity Share) will be available for allocation for allotment to Other Investors above ₹2.00 Lakhs.|
|Equity Shares outstanding prior to the Issue||1,29,40,000 Equity Shares of face value of ₹10 each|
|Equity Shares outstanding after the Issue||1,77,52,000 Equity Shares of face value of ₹10 each|
Kritika Wires IPO Issue Object
These are the IPO Issue Objects of the company
- Funding of working capital requirements of the Company
- General Corporate Purpose
- Issue Expenses
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Kritika Wires 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:
- Government Contractor
- Quality Assurance and State of Art Infrastructure.
- We have a key customer base with reputed Customers.
- Wide range of Products
- Leveraging the expertise of our Promoters
The relevant quantitative factors are:
|Basic & Diluted EPS||RONW (%)||NAV (Rs.)|
- Industry P/E Ratio:
- Comparison of Accounting Ratios with Peer Group Companies:
|Name of the Company||Face Value||P/E||EPS (Rs.)||RoNW %||NAV per Share Rs.|
|Ram Ratna Wires Ltd.||5||17.26||10.01||16.57||11.37|
|Geekay Wires Ltd.||10||27.57||1.31||16.88%||17.41|
|Kritika Wires Limited||10||[.]||2.11||13.01%||59.32|
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Kritika Wires IPO Lead Managers
HEM SECURITIES LIMITED
904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg,
Kritika Wires IPO Registrar to offer
|Registrar to the Offer|
|LINK INTIME INDIA PRIVATE LIMITED|
C-101, 1st Floor, 247 Park, LBS Marg,
Vikhroli (West), Mumbai- 400083, Maharashtra, India
Tel. No.: +91 22 49186200
Fax No.: +91 22 49186195
Email: [email protected]
Investor Grievance Email: kritika.ip[email protected]
Contact Person: Ms. Shanti Gopalkrishnan
SEBI Regn. No. INR000004058
- Legal Counsel to the Issue – VEDANTA LAW CHAMBERS
- Statutory Auditor – M/s S.K. BHARTIA & ASSOCIATES CHARTERED ACCOUNTANTS
- Peer Review Auditor M/s MANSAKA RAVI & ASSOCIATES CHARTERED ACCOUNTANTS
- Bankers to the Company – State Bank of India.
Kritika Wires IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promters Reputation|
The ratings would be updated once the financials and the other details of the IPO are released.
Kritika Wires IPO Grey Market Premium
The Kritika Wires Limited 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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Kritika Wires IPO News
News 1 – IPO ISSUES OPENS SOON (Download Prospectus)
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