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
|IPO Ratings & Review|
|Top Brokers Review||7.8/10|
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
|Day / Date||NII||RII||Total Subscription|
|1st Day – Jan 27||0.61x||0.05x||0.33x|
|2nd Day – Jan 28||0.78x||0.28x||0.53x|
|3rd Day – Jan 29||1.40x||0.63x||1.02x|
|4th Day – Jan 30||1.72x||1.76x||1.74x|
|Shares Offered or Net Issue||1,186,800||1,186,800||2,373,600|
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:
|Basis of Allotment Finalization||Feb 4, 2020|
|Refunds Initiation||Feb 5, 2020|
|Credit of Shares to Demat Account||Feb 6, 2020|
|Share Listing Date||Feb 7, 2020|
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:
|Amount (in INR & Lakhs)|
|Profit After Tax||200.91||421.42||196.23||86.38|
Earnings per Equity Share (in Lakhs)
|Amount (in INR & Lakhs)|
|Basic & Diluted||0.82||1.71||0.80||0.36|
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
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Up to 2,499,600 Equity Shares, aggregating up to Rs 2550 Lakhs|
|Market Maker Reservation Portion||[●] Equity Shares, aggregating up to Rs.[●] Lakhs|
|Net Issue to Public||Up to 2,499,600 Equity Shares, aggregating up to Rs.2550 Lakhs|
|QIB Portion||No shares shall be reserved for allocation to QIBs|
|Retail Portion||[●] Equity Shares of face value of Rs.5, will be available for allocation to Investors applying with application value of up to Rs.2.00 Lakhs|
|Non-Institutional Portion||[●] Equity Shares of face value of Rs.5, available for allocation to Investors applying with application value of above Rs.2.00 Lakhs|
|Equity Shares outstanding prior to the Issue||2,46,43,200 Equity Shares|
|Equity Shares outstanding after the Issue||2,68,44,000 Equity Shares|
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
|Basic & Diluted EPS||RONW in %||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] to Rs.[●] per Equity Share
Madhav Copper Limited: Competitive Peers
|Total Revenue (Rs.in lakhs)||Face Value (Rs.)||P/E||EPS (Basic&Diluted) (Rs.)||Return on Net Worth (%)||NAV per share (Rs.)|
|Madhav Copper Limited||21,305.04||5||[●]||1.71||32.04||5.34|
|Precision Wires India Limited||1,75,941.58||5||8.35||18.09||15.76||114.77|
|Ram Ratna Wire Limited||1,25,355.09||5||10.05||7.26||8.75||82.97|
|Hindustan Copper Limited||1,85,291.59||5||25.80||1.57||8.92||17.63|
Madhav Copper IPO Lead Managers
|PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED|
406-408, Keshava Premises, Behind Family Court,
Bandra Kurla Complex, Bandra East, Mumbai – 400 051,
Tel: +91-22 6194 6700
Fax: +91-22 2659 8690
Investor Grievance Id: email@example.com
Contact Person: Unmesh Zagade
SEBI Registration No:INM000012110
Madhav Copper IPO Registrar to Offer
|Registrar to the Offer|
|BIGSHARE SERVICES PRIVATE LIMITED|
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis,
Makwana Road, Marol, Andheri East
Mumbai – 400 059, Maharashtra
Tel: +91 22 62638200
Fax: +91 22 62638299
Investor Grievance Id: firstname.lastname@example.org
Contact Person: Babu Raphael
SEBI Registration Number: INR000001385
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
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promoters Reputation|
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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