Latteys Industries IPO – Review, Allotment Status, Subscription, Price, Date & more

Latteys Industries IPO is coming soon. The issue size of this IPO is INR 928 lakhs at Rs.66 per share. Lets have a detailed review of Latteys Industries Limited IPO and an in-depth analysis of the IPO release date, IPO offer price, subscription, IPO allotment, grey market price and more


Latteys Industries IPO Review & Ratings

Latteys Industries IPO Ratings & Review
CriteriaRatings
Industry Sentiments5.8/10
Industry Ranking5.6/10
Company Background5.9/10
Company Reputation5.8/10
Competitive Edge5.7/10
Financial Statements5.9/10
Popularity Index6.2/10
Promoters Reputation6.4/10
Retail Appetite5.9/10
Top Brokers Review6.1/10
Overall Ratings6.1/10
Star Ratings★★★☆☆

Summary of Latteys Industries IPO

latteys industries ipoThe company was originally started as Latteys Pumps Industries Private Limited. It is situated in Ahmedabad, Gujarat. The company begins as a sole proprietorship company. Later it got changed to the status of Private Limited Company. Recently, the company went public. The company was started in the year 2013 but it had obtained tremendous growth within a short span of time.

The amount that will be raised by issuing the IPOs will be used for the general corporate requirements of the company and to raise funds for capital requirements for the functioning of the company. The equity shares in the offering is around 12,22,000 shares out of which majority shares are up for net issue to the public and 62,000 shares are reserved for market makers.

The Promoters of this company are:

  • Kapoor Chand Garg
  • Pawan Garg

Competitive strengths of Latteys Industries:

  • Focus on quality and strength
  • Experienced promoters and management
  • Wide range of products
  • Locational advantage
  • Established relationship with clients

Business strategies of Latteys Industries:

  • Focus on domestic scale
  • Banking on solar pumps
  • Capacity expansion
  • Optimum utilization of resources

The lead manager to the issue is Pantomath Capital Advisors Private Limited and the registrar to the issue is Linktime India Private Limited.


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Latteys Industries IPO Date

The opening and the closing date of the Latteys Industries Limited is not known yet. Once the date is finalised, the details will be updated herein.

Latteys Industries IPO Subscription

 SUBSCRIPTION
DAY 1x
DAY 2x
DAY 3x
DAY 4x
DAY 5x

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

Latteys Industries 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.

Latteys Industries Limited IPO Price Band

The face value of each share is Rs 10 but the price band of the IPO is Rs 66 per share.

Latteys Industries Limited IPO Issue Size

The Latteys Industries Limited Issue Size is below Rs 928.80 lakhs.

Latteys Industries Limited IPO Equity Share Offerings

The equity shares in the offering are around 12, 22,000 shares out of which majority shares are up for net issue to the public and 62,000 shares are reserved for market makers.


Latteys Industries Limited –Company Overview

Latteys Industries is a leading manufacturer and exporter of different types of pumps. The company based in Gujarat is known for the quality products they provide. The manufacturing company started with humble beginnings in the year 2004.

The pumps are made using the state of the art technology that they have a long-lasting life. The combined efforts of the promoters of the company have actually helped market the products of the group.

The manufacturing place is located about 40 km from the bustling city of Ahmedabad that it is easy to find larger space to install that world class machinery. The pipes of Lattey are used by people from all walks of life owing to their price and quality.

The Key Members of the company are:

  • Kapoor Chandra Garg-Chairman and MD
  • Pawan Garg, Whole time Director
  • Viralbhai Patel, Chief Financial Officer
  • Jayesh Bhavsar, Company Secretary and Compliance Officer

Latteys Industries Limited –Financial Statements

Have a look at the Financial Stability of the company before you invest in it.

The asset of the Company

31-Mar-1731-Mar-1631-Mar-1531-Mar-14
Non-Current Assets474.2474.52365.12289.52
Current Assets2,137.751,539.831100.95465.83
Total Assets2,611.952,014.351,466.071,255.35

Revenue and PAT of the company

31-Mar-1731-Mar-1631-Mar-1531-Mar-14
Revenue3,577.442,605.112,153.371,855.66
Profit After Tax55.6231.0913.9814.09

Earnings per Equity Share

31-Mar-1731-Mar-1631-Mar-1531-Mar-14
Basic1.721.030.550.58
Diluted1.721.030.550.58

Along with the revenue numbers, the profit and the EPS have also been increasing. While the revenue has doubled over the period, the resultant profit has increased 3 to 4 times thereby showing a cost efficiency element and also the economies of scale that the company is benefited with.


Latteys Industries Limited-Promoters

The Promoters of this company are:

  • Kapoor Chand Garg
  • Pawan Garg

Payment or Benefit to the Promoter of the company

There are no cases that the people of the company are involved that they are in a pressure situation to sell off one’s property.

Interest in the promotion of the company

The promoters have worked together to promote the company in all means except for the buying of equity shares.

Interest in property of the company

The promoters do not have any interest in the property of the company. They manage the resources but are never interested in the property.

Interest as a creditor

The promoters of the company have not availed any loans using the company name.

Interest in transactions involving the acquisition of land

There are many transactions involved in the acquisition of land for the company and the company is seen to disapprove its interest.


Latteys Industries Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
Equity Shares Offered12,22,000 Equity Shares of the face value of Rs.10/- each fully paid off the Company for cash at price of Rs.66/-per Equity Share aggregating Rs. 806.52 lakhs
 Of which:
Reserved for Market Makers 62,000 Equity Shares of the face value of Rs. 10/- each fully paid off the Company for cash at price of Rs 66/- per Equity Share aggregating Rs. 40.92 lakhs
 Net Issue to the Public 11,60,000 Equity Shares of the face value of Rs.10/- each fully paid off the Company for cash at price of Rs. 66/- per Equity Share aggregating Rs. 765.60 lakhs
 Of which:
 Retail Investors Portion 5,80,000 Equity Shares of the face value of Rs. 10/- each fully paid off the Company for cash at price of Rs. 66/- per Equity Share aggregating Rs. 382.80 lakhs will be available for allocation for allotment to Retail Individual Investors of up
to Rs. 2 lakhs
 Non-Retail Investors Portion 5,80,000 Equity Shares of the face value of Rs. 10 /- each fully paid off the Company for cash at price of Rs. 66/- per Equity Share aggregating Rs. 382.80 lakhs will be available for
allocation to investors above Rs. 2 lakhs
 Equity Shares outstanding prior to the Issue33,77,666 Equity Shares
 Equity Shares outstanding after the Issue 45,99,666 Equity Shares

Latteys Industries Limited IPO Issue Object

The following are the reasons why the IPO is to be raised

  • To fund the working capital requirements of the company
  • For General Corporate Purposes

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Latteys Industries Limited IPO-Basis for 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. The face value of the equity share is Rs 10 and issue price is Rs 66 per equity share and 6.6 times the face value of the equity shares.

Qualitative factors are:

  • The focus is more on quality and innovation
  • Highly experienced managers and promoters
  • Great Rapport with clients
  • The advantage over Location and variety of products offered

The relevant quantitative factors are:

  • Basic and Diluted Earnings per Share (EPS) as per Accounting Standard 20 as adjusted for changes in capital
  • Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 66 per Equity Share of Rs. 10 each fully paid up
  • Return on Net worth (RoNW)
  • Minimum Return on Total Net Worth post Issue needed to maintain Pre-Issue EPS for the year ended March 31, 2017, is 6.81%]
  • Net Asset Value (NAV)

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Latteys Industries Limited IPO Registrar to the Issue


eys Industries Limited IPO Lead Manager

Lead manager to the issue
Pantomath Capital Advisors Private Limited

Latteys Industries IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany Repu-tationCompe-titive EdgeFinan-cial State-mentPopu-larity IndexPromo-ters Repu-tation
Angel Broking5.8/106.1/105.9/105.9/105.9/10
Sharekhan5.7/106.1/105.7/105.9/105.7/10
Kotak Securities5.8/106.0/105.7/105.7/105.7/10
ICICI Direct5.8/106.1/105.8/105.9/105.9/10
IIFL5.6/106.0/105.8/105.8/105.8/10
Edelweiss5.8/106.1/105.9/105.9/105.7/10
Zerodha5.8/106.0/105.7/105.7/105.7/10
5Paisa5.8/106.1/105.9/105.9/105.9/10
Karvy5.8/106.1/105.7/105.9/105.9/10
Motilal Oswal5.8/106.1/105.7/105.9/105.7/10

Latteys Industries Limited IPO Grey Market Premium

The Latteys Industries 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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