Marine Electricals IPO – Review, Allotment, Subscription, GMP & DRHP

Marine Electricals IPO is an Integrated Electrical and Automation Solution Provider dealing in comprehensive electrical solution across industries with significant presence in Marine sector (Indian Navy, Commercial Shipbuilding) and Non Marine sector (Data Centre, Building Management Systems, Industrial etc). Marine Electricals IPO comprises of 64,96,000 Equity shares, face value of Rs.10 each.

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


Marine Electricals IPO Review & Ratings

Marine Electricals 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 Marine Electricals IPO

Marine Electricals IPOMarine Electricals is Integrated Electrical and Automation Solution Provider dealing in comprehensive electrical solution across industries with significant presence in Marine sector (Indian Navy, Commercial Shipbuilding) and Non Marine sector (Data Centre, Building Management Systems, Industrial etc). The Issue comprises of a Public Issue of 64,96,000 Equity shares of face value of Rs.10.00 each fully paid  up.

  • The Company’s revenue from operation have increased at a CAGR of 15.84% from Rs. 15,975.08 lakhs in FY 2013-14 to Rs. 28,766.39 lakhs in FY 2017-18;
  • EBITDA has increased at a CAGR of 16.88% from Rs. 1,405.27 lakhs in FY 2013-14 to Rs. 2,622.68 lakhs in FY 2017-18.
  • During the financial year 2017-18 the Other Income of the company increased to Rs. 307.61 Lakhs as against Rs. 207.91 Lakhs for the financial year 2016-17, representing increase by 47.95% due to increase in interest income & insurance claim in FY 2017- 18.
  • Company’s Net Profit after tax for the year 2016-17 is Rs. 1695.69 Lakhs from the year 2015-16 of Rs. 1121.61 Lakhs showing an increase of 33.8% from last year, showing better performance.
  • The Standalone Net Worth of the Company (net of revaluation reserves) is Rs.7,549.71 lakhs and the book value of each Equity Share was Rs.41.86 as of March 31, 2018 as per the Restated Standalone Financial Statements

The Promoter of this company is Mr. Vinay Uchil, Mr. Venkatesh Uchil and KDU Enterprises Private Limited. The lead manager to the issue is Aryaman Financial Services Limited and the Registrar to this issue is Bigshare Services Private Limited .


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Marine Electricals IPO Date

The opening and the closing date is 28 Sept 2018 – 3 Oct 2018.


Marine Electricals IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 :28 Sept 2018
Day 2 : 1 Oct 2018
Day 3 : 3 Oct 2018
Shares Offered or Net Issue

Marine Electricals IPO Allotment Status

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

Basis of Allotment Finalization 8-Oct-18
Refunds Initiation 9-Oct-18
Credit of Shares to Demat Account 10-Oct-18
Listing Date 11-Oct-18

Marine Electricals IPO Price Band

The face value of each share is Rs 10, and the price band of the IPO is Rs 64- 66. 


Marine Electricals IPO Equity Share Offering

64,96,000 Equity Shares of Rs 10/- each but Issue Price is Rs 64-66, aggregating up to Rs 42.87 Crores.


Marine Electricals – Company Overview

Marine Electricals is an Integrated Electrical and Automation Solution Provider dealing in comprehensive electrical solution across industries with significant presence in Marine sector (Indian Navy, Commercial Shipbuilding) and Non Marine sector (Data Centre, Building Management Systems, Industrial etc). It also provides solution in Low Voltage, Medium Voltage and Industrial Automation backed by In-house Product Design & Development, Manufacturing, Installations and after sale service.

Players like Schneider Electric, Siemens, GE have good relationship with the Company. They have entered into an agreement with NLC India Limited to provide Solar Power Evacuation system, thus venturing into the renewable energy segment.

Manufacturing facilities are certified as per ISO 9001, ISO 14001, and OHSAS 18001 for the Quality Management system, Environmental Management System and Occupation Health & Safety Management System respectively. They have national and international presence through their subsidiaries.

The Company is promoted by Mr. Vinay Uchil, Mr. Venkatesh Uchil and KDU Enterprises Private Limited and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Marine Electricals:

  • Specialized Business Model with High Entry Barriers.
  • In-house Engineering Capabilities.
  • Promoter with strong technical background.
  • Client Ownership/ Strong Track Record.

Business strategies of Marine Electricals:

  • Expand their Total Installed Production Capacity and Product Range.
  • Increasing Operational efficiency.
  • Competitive Pricing.
  • Increase scope of offering and entering new emerging segments.
  • Well Strategized Growth Plan.

Marine Electricals – 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:

(Based on Standalone)

Amount (in INR & Lakhs)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 27,701.56 15733.60 12379.84 11955.87 10518.67
Total Revenue 28,907.08 21,184.40 19527.44 19,230.42 16,217.76
Total Expense 27,138.13 19,710.42 18,264.89 18,336.89 15,217.32
Profit After Tax 1,172.41 861.14 792.60 552.54 683.68

Earnings per Equity Share (in Lakhs)(Based on Standalone)

31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 6.66 5.01 4.61

From the above statements, one could find that the Marine Electricals may perform well.


Marine Electricals IPO – Promoters

The Promoter of this company are:

  1. Mr. Vinay Uchil,
  2. Mr. Venkatesh Uchil
  3. KDU Enterprises Private Limited

List of Related Parties (Key Managerial Personnel)

  • Mr. Vinay Uchil,
  • Mr. Venkatesh Uchil

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.


Marine Electricals IPO Offer Details or Issue Details

Particulars
No.of Equity Shares
Offer Up to 64,96,000 Equity Shares aggregating up to Rs 42.87 Crores
Of which
Employee Reservation Portion Up to 3,36,000 Equity Shares
Accordingly,
The Net Offer Up to 61,60,000 Equity Shares
Of which:
QIB Category Not more than [●] Equity Shares
Of which:
 Anchor Investor Portion Up to [●] Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) [●] Equity Shares
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion)) Up to [●] Equity Shares
– Balance of QIB Category for all QIBs including Mutual Funds [●] Equity Shares
Non-Institutional Category Not less than [●] Equity Shares
Retail Category Not less than [●] Equity Shares
Equity Shares outstanding prior to the offer 1,80,37,050 Equity Shares
Equity Shares outstanding after the Offer 2,45,33,050 Equity Shares

Marine Electricals IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding the Working Capital requirements of the Company:
  •  General Corporate Purposes

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Marine Electricals 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:

  • Specialized Business Model with High Entry Barriers.
  • In-house Engineering Capabilities.
  • Promoter with strong technical background.
  • Client Ownership/ Strong Track Record.

The relevant quantitative factors are:

On the basis of Standalone:-

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 4.61 15.80
31-Mar-17 5.01 14.65 34.21
31-Mar-18 6.66 15.53 41.86
  • Competitive Peers:

They believe that there is no other listed Company which is specifically comparable to us w.r.t their business model, size and financials.


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Marine Electricals IPO Lead Managers

Lead Managers
ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,
Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001
Tel No.: +91 – 22 – 6216 6999 Fax No.: +91 – 22 – 2263 0434
Email: Website: www.afsl.co.in
Investor Grievance Email:
Contact Person: Mr. Swapnil Ukirde / Ms. Bansri Gosalia
SEBI Registration No.: INM000011344

Marine Electricals 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
Tel No.: +91 – 22 – 6263 8200; Fax No.: +91 – 22 – 6263 8299;
Email: ; Website: www.bigshareonline.com
Investor Grievance Email: ;
Contact Person: Mr. Babu Rapheal
SEBI Registration No.: INR000001385

Other Details:

  • Statutory Auditor –  M/S. R. R. Bandekars & Associates, Chartered Accountants
  • Peer Review Auditor -M/s. V.N. Purohit & Co., Chartered Accountants

Marine Electricals IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters 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

Marine Electricals IPO Grey Market Premium

The Marine Electricals 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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Marine Electricals IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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