Kritika Wires IPO – Review, Allotment Status, Subscription, Price, Date & more

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
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 Kritika Wires IPO

Kritika Wires IPOKritika 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:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 11376.69 115 72.92 9428.75 9762.51 6020.98
Total Revenue 20705.52 21730.19 18339.74 14911.27 10596.27
Total Expense 20292.25 21533.60 18272.62 14749.12 10480.67
Profit After Tax 266.65 104.85 42.98 101.19  120.90

Earnings per Equity Share (in Lakhs)

31-Mar-17 31-Mar-16 31-Mar-15
Basic  2.11 0.86 0.35
Diluted  2.11 0.86 0.35

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.

Property Interest

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.
 Of which:
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.
 Of which:
 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.)
31-Mar-15 0.35 1.52% 46.71
31-Mar-16 0.86 3.57% 48.44
31-Mar-17 2.11 7.83% 52.66
  • Industry P/E Ratio:
Particulars P/E ratio
Average 16.12
Highest 27.57
Lowest 3.30
  • 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

Lead Managers

HEM SECURITIES LIMITED

904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg,
Elphinstone Road Mumbai-400 013, India.
Tel : 022 4906 0000; Fax: 022 2262 5991
Email:
Investor Grievance Email:
Contact Person: Radhika Soni
Website: www.hemsecurities.com
SEBI Registration number: INM000010981

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

Website: www.linkintime.co.in;

Email:

Investor Grievance Email:

Contact Person: Ms. Shanti Gopalkrishnan

SEBI Regn. No. INR000004058


Other Details:

  • 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
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.


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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