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Lotus Roofings IPO Review, Dates, Allotment, Subscription, GMP & DRHP

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

Lotus Roofings Limited is engaged in the business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions. Apart from these products the Company also trades and manufactures Polycarbonate roofing sheets. 


Lotus Roofings IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Lotus Roofings IPO

Lotus Roofings IPOLotus Roofings Limited is engaged in the business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions. Apart from these products the Company also trades and manufactures Polycarbonate roofing sheets.

This company markets its products through its dealer network spread out across Southern India. Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:

  • As per restated standalone financial statements for the period ended on September 30, 2018 and fiscal year ended on March 31, 2018, March 2017 and March 31, 2016, the total revenue of the Company stood at Rs. 7,216.66 lakhs, 10276.90 lakhs, Rs. 8434.44 lakhs, Rs. 6780.04 lakhs respectively.
  • The net asset value per Equity Share was Rs. 17.45 and Rs. 15.98 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements.
  • The net worth as of March 31, 2018 is Rs. 1917.30, as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
  • The PAT for the period ended on September 30, 2018 and fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016 stood at Rs. 176.72, 412.39 lakhs, Rs. 206.25 lakhs, Rs. 77.35 lakhs respectively.

The Promoters of this company are Mr. Vasanadu Govind and Poly Tough Tubes LimitedThe lead manager to the issue is Hem Securities Limited and the Registrar to this issue is Karvy Computershare Private Limited.



Lotus Roofings IPO Date

The opening and the closing date of Lotus Roofings IPO is not known yet.


Lotus Roofings IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 
2nd Day – 
3rd Day – 
4th Day – 
5th Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Lotus Roofings IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Lotus Roofings IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Lotus Roofings IPO Equity Share Offering

Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs.


Lotus Roofings Limited – Company Overview

It was originally incorporated under the Companies Act, 1956 in the year 1984 with business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions. 

Lotus Roofings also trades and manufactures Polycarbonate roofing sheets.

Roofing sheets are categorized in following two varieties:
1. PVC sheets (Traditional roofing):
a. Opaque sheets
b. Transluscent sheets.
2. Polycarbonate sheets (New generation) :
a. Compact & Embossed Solid Sheets
b. Multiwall sheets.

They have commenced the production of Embossed & Compact Solid sheets in the new plant along with the erection of multiwall sheets machinery from the period March 2018.
They also make PVC pipe for plumbing and agricultural applications.
Under PVC Pipes they have 3 varieties:
a. Plumbing pipes
b. Irrigation pipes
c. Deep Borewell / Casing pipes.
They also have trading and marketing division where they trade and market various self drilling screws which are accessories for roofing.

This Company has its presence across South India, i.e. Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala. They also have some distribution arrangements in Western India. Most of the trade is through trade channels. 

Competitive Strengths of Lotus Roofings Limited:

  • Market leader in wires and cables in India
  • Diverse suite of electrical products with varied applications across a diverse customer base
  • Strong distribution network
  • Manufacturing facilities with high degree of backward integration
  • Strong brand in the electrical industry
  • Experienced and committed management team

Business strategies of Lotus Roofings Limited:

  • Increasing the presence in existing and new Markets
  • Providing value added services
  • Focus on cordial relations with the suppliers, customers and employees
  • To build-up a professional organization
  • Optimal utilization of resources

Lotus Roofings 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:

On the basis of Standalone statement:-

Amount (in INR & lakhs)
30-Jun-1831-Mar-1831-Mar-1731-Mar-16
Total Assets8,118.068,167.635,664.374,572.10
Total Revenue7,216.6610,276.908,434.446780.04
Total Expense7,009.699,673.888,085.646,563.97
Profit After Tax176.72412.39206.2577.35

Earnings per Equity Share (in lakhs)

31-Mar-1831-Mar-1731-Mar-16
Basic & Diluted3.441.720.70

From the above statements, one could find that the Lotus Roofings Limited may perform well.


Lotus Roofings IPO – Promoters

The Promoters of this company are:

  • Mr. Vasanadu Govind
  • Poly Tough Tubes Limited

List of Related Parties (Key Managerial Personnel)

  • Mr. Subbiah Venkatachalam – Chief Financial Officer (CFO)
  • Mr. S Raghavan – Company Secretary and Compliance Officer

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.


Lotus Roofings IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs
 Of which:
 Reserved for Market Makers [●] Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs
 Net Issue to the Public [●] Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs
 Of which:
 Retail Investors Portion [●] Equity Shares of face value of Rs. 10 each fully paid-up for cash at price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs i.e. 50% of the Net Issue shall be available for allocation Retail Individual Investors
 Non-Retail Investors Portion[●] Equity Shares of face value of Rs. 10 each fully paid-up for cash at price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs i.e. 50% of the Net Issue shall be available for allocation for Investors other than Retail Individual Investors
 Equity Shares outstanding prior to the Issue12,000,000 Equity Shares
 Equity Shares outstanding after the IssueUpto [●] Equity Shares

Lotus Roofings IPO Issue Object

These are the IPO Issue Objects of the company

  • To meet Working Capital Requirement
  • Repayment of a portion of loans
  • General Corporate purpose and
  •  To meet the Issue Expenses

Lotus Roofings 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:

  • Diversified Product Portfolio and Strong Brand Image
  • Diversified market presence
  • Quality Assurance and Standards
  • Extensive Dealer Network
  • Dealing with overseas suppliers
  • Research and Development
  • Customer Satisfaction
  • Strong financial position and profitability

The relevant quantitative factors are:

Basic & Diluted EPSRONW in %NAV (Rs.)
31-Mar-160.706.10
31-Mar-171.7213.71
31-Mar-183.4421.51
17.45
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. [●] each
ParticularsP/E ratio
Highest17.74
Average15.60
Lowest13.46
  • Competitive Peers:
Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
1Bansal Roofing Products Limited103.6413.4610.2232.05
2Dhabriya Polywood Limited103.7117.7412.1032.21
3Lotus Roofings Limited103.4421.5115.98

Lotus Roofings IPO Lead Managers

Lead Managers
HEM SECURITIES LIMITED
904, A Wing, 9th Floor Naman Midtown,
Senapati Bapat Marg, Elphinstone Road
Mumbai-400013, India.
Tel :+91 22 4906 0000
Email:
Investor Grievance Email:
Website: www.hemsecurities.com
Contact Person: Anil Bhargava
SEBI registration number: INM000010981

Lotus Roofings IPO Registrar to offer

Registrar to the Offer
KARVY FINTECH PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District,
Nanakramguda, Serilingampally, Hyderabad – 500032,
Telangana, India.
Tel No: +91 40 6716 2222
Email:
Investor Grievance Email:
Website: www.karisma.karvy.com
Contact Person: Mr. M Murali Krishna
SEBI Registration Number: INR000000221

Other Details:

  • Statutory Auditor – M/s. P. Ramanujam & Co.
  • Peer Review Auditor – NA
  • Bankers to the Company – DBS Bank India Limited, Yes Bank Limited and Axis Bank Limited.

Lotus Roofings IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Lotus Roofings IPO Grey Market Premium

The Lotus Roofings IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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Lotus Roofings IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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