Madhav Copper IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP

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

Madhav Copper IPO Review & Ratings

Summary of Madhav Copper IPO

Engaged in the business of manufacturing of copper wire, copper rods, copper bus bars, flats, profiles, sections, strips, anodes & rods, enamelled copper wires and submersible winding wires.

The copper material, which they produce, achieves an electrical conductivity of 101% IACS (International Annealed Copper Standard) and has electrical and mechanical properties suitable for applications in power generation, transmission, distribution and electronic industries.

From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements

• For period ended June 30, 2019 and Fiscals 2019, 2018 and 2017, their revenue from operations was Rs.5,071.81 lakhs and Rs.21,298.55 lakhs, Rs.16,881.94 lakhs and Rs.7,144.29 lakhs, respectively, growing at a CAGR of 72.66 % between Fiscal 2017 and Fiscal 2019.
• Their EBITDA for period ended June 30, 2019 and Fiscals 2019, 2018 and 2017 was Rs.346.89 lakhs and Rs.906.17 lakhs, Rs.473.26 lakhs and Rs.261.09 lakhs respectively, growing at a CAGR of 86.30 % between Fiscal 2017 and Fiscal 2019.
• Their profit after tax for period ended June 30, 2019 and Fiscals 2019, 2018 and 2017 was Rs.200.91 lakhs and Rs.421.42 lakhs, Rs.196.23 lakhs and Rs.86.38 lakhs respectively, growing at a CAGR of 120.88% between Fiscal 2017 and Fiscal 2019.

The Promoters of this company are NILESH PATEL, ROHIT CHAUHAN And DIVYA MONPARA. The lead manager to the issue is ARYAMAN FINANCIAL SERVICES LIMITED. The Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.

Madhav Copper IPO Dates / Launch Date

The opening and the closing date of Madhav Copper IPO is Jan 27, 2020 – Jan 30, 2020.

Madhav Copper IPO Subscription 

The shares subscribed by the public will be updated here.

Madhav Copper IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Madhav Copper IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Madhav Copper IPO Price Band / Cash Price

The face value of each share is Rs.5, and the cash price of the IPO is Rs 100 – Rs 102. 

Madhav Copper IPO Size

This Initial Public Issue of 2,499,600 Equity Shares of Rs.5 each for cash at a price of Rs 100 – Rs 102 per equity share aggregating to Rs. 25.50 Crores.

Madhav Copper IPO Share Offering

Fresh Issue: The Fresh Issue of 2,499,600 Equity Shares by their Company of Rs. 5 each at a price of Rs 100 – Rs 102 per equity share aggregating to Rs. 25.50 Crores.

Madhav Copper Limited – Company Overview

Incorporated in year 2012, their Company got listed its equity Shares on NSE EMERGE in year 2017 to raise funds for working capital requirement and enhance brand name and corporate image to create a public visibility of the Company.

The major raw materials used in their manufacturing process is Copper cathode, Copper scrap and Insulation films. Further, they require Polyurethane, Polyester, Polyester imide, Theic Polyester for enamelling copper wire and Polyester film & Biaxial Oriented Poly Propylene (BOPP) films foor submersible wire. Their Company majorly sources its raw materials from domestic market.

Recently, their company has been approved by Indian railway for development, manufacture and supply of Dual coated enamelled copper winding wire, Copper flat, Rectangular copper conductor, Rectangular Copper Strips, Oxygen free Copper (OFC) Rods of various sizes and specification

Madhav Copper Quality Assurance

Their Copper Fabricated Product and Winding wires are manufactured adhering National and International Standards such as IEC, NEMA, BS, ASTM and JIS. The Copper Rod is manufactured from 100% LME (London Metal Exchange) registered grade ‘A’ copper cathode used as a raw material.

The Copper Conductors are manufactured from 99.997% of pure ETP and OFC grade copper and insulated with high thermal class engineered insulation material. It provides excellent dielectric properties and excellent resistance to cracking.

Initially their company was engaged into manufacturing of enamelled copper wire and submersible winding wires only. To ensure benefits of backward integration, their company has started manufacturing of Copper bare wires and copper rods in year 2018.

• Copper Wire & Rods
• Copper Bus Bars, Strip, Flats, Profiles, Section, & Anodes
• Enamelled Copper Wire
• Submersible Winding Wire

Madhav Copper Ltd – Financial Statements

On the basis of Standalone statement:

Earnings per Equity Share (in Lakhs)

Madhav Copper IPO – Promoters

The Promoters of this company are:

• NILESH PATEL
• ROHIT CHAUHAN
• DIVYA MONPARA

List of Related Parties (Key Managerial Personnel)

• Pratik Patel, Company Secretary and Compliance Officer
• Kamlesh Solanki, Chief Financial Officer

Interest in promotion of the Company

Their Promoters are interested in their Company to the extent that they have promoted their Company and to the extent of their shareholding and the dividend receivable, if any and other distributions in respect of the equity shares held by them in their company.

Interests of Promoter in property of their Company

Their Promoters do not have any interest in any property acquired by their Company in the last three years preceding the date of this Draft Red Herring Prospectus or proposed to be acquired by their Company or in any transaction by their Company for acquisition of land, construction of building or supply of machinery.

Madhav Copper IPO Offer Details or Issue Details

Madhav Copper IPO Issue Object

These are the IPO Issue Objects of the company:

• Purchase of Plant & Machinery;
• Prepayment/Repayment of certain Secured Borrowings availed by their Company;
• Funding the working capital requirement of the Company; and
• General corporate purposes.

Madhav Copper Limited: Competitive Strength

• Experienced Management
• Quality Assurance
• Continuous Expansion with backward Integration
• Their manufacturing facility
• Strong relationship with clients

Madhav Copper 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 management;
• Continuous expansion with backward integration;
• Quality assurance;
• Their manufacturing facility;
• Strong relationship with clients.

Madhav Copper IPO – Quantitative Factors

• Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] to Rs.[●] per Equity Share

Madhav Copper Limited: Competitive Peers

Madhav Copper IPO Lead Managers

Madhav Copper IPO Registrar to Offer

Madhav Copper IPO – Other Details:

• Statutory Auditor – M/s Nirav Patel & Co.
• Legal Counsel to the Company – M V Kini, Law Firm
• Bankers to the Company – [●]

Madhav Copper IPO Review by Top 10 Stock Brokers

Madhav Copper IPO Grey Market Premium

The Madhav Copper 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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