Misquita Engineering IPO Review, Dates, Allotment, Subscription, Size, GMP, Bid & more

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

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Misquita Engineering IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.1/10
Company Background 7.3/10
Company Reputation 7.2/10
Competitive Edge 7.7/10
Financial Statements 7.1/10
Popularity Index 7.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.1/10
Top Brokers Review 7.9/10
Overall Ratings 7.4/10
Star Ratings ★★★★☆

Summary of Misquita Engineering IPO

Misquita Engineering IPOThe Company has consistently believed in supplying Zero Defect products and all manufacturing and operating systems in the company are geared up towards the goal and vision of Zero Defect=Zero Effect, Zero effect with respect to zero wastage of resources and utilization of all resources efficiently and effectively. This consistency has enabled their company to consistently supply components with Zero defect every time on time without defaulting for a single instance in Delivery and Quality.
The Company is an ISO 9001:2008 certified company for the last seven years being certified every year by TUV
SUD South Asia Private Limited, a premier certification agency. The Company is now upgraded its systems to be
ISO 9001:2015 compliant from May 2018.
The Company is now planning to expand its production and building capacities for the same. The Company has
been qualified as a Strategic Supplier for supply of Machined parts to “Commscope USA.”

Misquita Engineering Limited

Company believes that its consistency in five main areas of Quality, Delivery, Cost, Response and Customer
satisfaction is its USP and strives to excel in these areas. This Company looks at proposals to introduce Robot based
loading and unloading systems on its machines as well as installing new advanced technology in metal cutting on
its shop floor.

From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements

For the year ended March 31, 2019 the total revenue of The Company as per the restated financials was Rs.760.70 Lakh as compared to the Rs.677.35 Lakh for the year ended March 31, 2018. Further, their PAT as per the restated financials for the fiscal year ended on March 31, 2019 was Rs. 42.12 Lakh on March 31, 2018 was Rs. 25.26 Lakh and on March 31, 2017 was Rs.15.71 Lakh.


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Misquita Engineering IPO Date

The opening and the closing date of Misquita Engineering IPO is SEPT 23, 2019 and SEPT 25, 2019.


Misquita Engineering IPO Subscription

Day / Date NII RII Total Subscription
1st Day – SEPT 23 0.07x 0.11x 0.09x
2nd Day – SEPT 24 1.20x 0.28x 0.74x
3rd Day – SEPT 25 1.20x 0.28x 0.74x
Shares Offered or Net Issue 340,000 340,000 680,000

The shares subscribed by the public will be updated here.


Misquita Engineering IPO Allotment Status

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

Basis of Allotment Finalization 30-Sep-19
Refunds Initiation 1-Oct-19
Credit of Shares to Demat Account 1-Oct-19
Share Listing Date 4-Oct-19

Misquita Engineering IPO Price Band

The face value of each share is Rs 10, but the cash price is Rs 27.


Misquita Engineering IPO Equity Share Offering

Fresh Issue of 4,44,000 Equity Shares of face value Rs.10.00 each of Misquita Engineering Limited for cash at a price of Rs.27.00 per Equity Shares aggregating Rs.119.88 Lakh by their Company.

Public issue of 7,16,000 Equity Shares of face value of Rs.10.00 each of their Company for cash at a price of Rs.27.00 per Equity Share (including a share premium of Rs.17.00 per Equity Share) aggregating to Rs.193.32 Lakh.

The Issue excluding the Market Maker Reservation Portion of 6,80,000 Equity Shares of face value of Rs.10.00 each fully paid up for cash at a price of Rs.27.00 per Equity Share aggregating Rs.183.60 Lakh by their Company.


Misquita Engineering – Company Overview

The Company was incorporated in the year 1998 under the name Misquita Engineering Private Limited under the
provisions of Companies Act, 1956 later it converted into a public limited company. The company is engaged in the
manufacturing of the front-loading washers. The registered office and corporate office is situated at 182/1, Ghar
Bhat, Vaiginim Vaddo, Nachinola, Bardez Goa-403 508, India

The Company is the major component supplier and job worker to a manufacturer of washing machines in the Indian
market for Front Loading washers.

With 3 CNC Turning Centres presently in use the company is able to consistently maintain the close Tolerances of
up to 10 microns (0.010mm) in its components supplied. The Company is actively looking at newer technologies in
this respect to increase automation and better process control levels.
The Company has presently Five CNC turning centres and several supporting conventional machines to achieve a
consistent size machined in a tolerance band of maximum ten microns. This narrow tolerance needs to be achieved
in 100% of components 24 hours a day.

Business strategies of Misquita Engineering

  • Improving Operational Efficiencies
  • Work with existing suppliers
  • Expand geographical reach
  • To build up a professional organization
  • Training of their employees

Misquita Engineering – 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 of Misquita Engineering IPO

On the basis of Standalone statement:-

Amount (in INR & lakhs)  
31-Mar-19 31-Mar-18 31-Mar-17
Total Assets 799.91 739.56 529.55
Total Revenue 760.70 677.35 577.26
Total Expense 708.64 650.06 555.08
Profit After Tax 42.12 25.26 15.71

Earnings per Equity Share (in Rs)

31-Mar-19 31-Mar-18 31-Mar-17
Basic & Diluted 1.87 1.12 1.56

From the above statements, one could find that Misquita Engineering may perform well.


Misquita Engineering IPO – Promoters

The Promoter of this company is:

  • MR. THOMAS CONSTANCE AVINASH MISQUITA
  • MS. GAIL LUCIA MISQUITA

List of Related Parties (Key Managerial Personnel)

  • Bhawini Surana, CS
  • Gail Lucia Misquita, CFO

PROMOTERS AND PROMOTER GROUP

Company is promoted by Thomas Constance Avinash Misquita and Gail Lucia Misquita. As on the date of this Prospectus, their Promoters hold 18,49,900 Equity Shares representing 82.22% of the pre – issue paid-up Equity Share capital of their Company.


Misquita Engineering IPO Offer Details or Issue Details

Particulars  No. Of Equity Shares
 Equity Shares Offered  7,16,000 Equity Shares of Rs.10.00 each fully paid-up of their Company for cash at a price of Rs.27.00 per Equity Share aggregating to Rs.193.32 Lakh
 Of which:
 Reserved for Market Makers  36,000 Equity Shares of Rs.10.00 each fully paid-up of their
Company for cash at a price of Rs.27.00 per Equity Share
aggregating to Rs.9.72 Lakh
 Net Issue to the Public  6,80,000 Equity Shares of Rs.10.00 each fully paid-up of their Company for cash at a price of Rs. 27.00 per Equity Share aggregating to Rs.183.60 Lakh
 Of which:
 Retail Investors Portion  3,40,000 Equity Shares of Rs.10.00 each fully paid-up of their
Company for cash at a price of Rs.27.00 per Equity Share
aggregating to Rs. 91.80 Lakh
 Non-Retail Investors Portion 3,40,000 Equity Shares of Rs.10.00 each fully paid-up of their
Company for cash at a price of Rs.27.00 per Equity Share
aggregating to Rs. 91.80 Lakh
 Equity Shares outstanding prior to the Issue 22,50,000 Equity Shares of Rs.10.00 each
 Equity Shares outstanding after the Issue 26,94,000 Equity Shares of Rs.10.00 each

Misquita Engineering IPO Issue Object

These are the IPO Issue Objects of the company

  • To Meet working capital requirement
  • Prepayment/ repayment of certain debt facilities availed by their Company (Loan for shed expansion)

Misquita Engineering 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:

  • Multidisciplinary Engineering Approach;
  • Strong Execution Capabilities;
  • Experience Management and technical execution Team;
  • Quality Assurance;
  • Locational Advantage;
  • Clients Retention

The relevant quantitative factors are:

On the basis of standalone statement:-

Basic & Diluted EPS RONW  NAV (Rs.)
Mar-19 1.87 10.96% 17.08
Mar-18 1.12 7.36% 15.25
31-Mar-17 1.56 4.94%
  • Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:
Particulars P/E ratio
Highest
Average
Lowest
  • Competitive Peers:
Particulars Face Value  (in Rs.) EPS (In Rs.) NAV (In Rs.) P/E Ratio RONW 
Misquita Engineering Limited 10 1.87 17.08 14.42 10.96%
PEERS
Whirlpool of India Limited 10 32.08 168.89 47.44 19.00%
Voltas Limited 1 14.04 113.15 44.9 12.41%
Bluestar Limited 2 12.65 99.79 53.63 12.67%

Misquita Engineering IPO Lead Managers

Lead Managers
GRETEX CORPORATE SERVICES PRIVATE LIMITED

Office No.13, 1st Floor, New Bansilal Building, Raja Bahadur Mansion, 9-15, Homi Modi Street, Fort, Mumbai – 400 001 Tel No.: +91 – 22 – 4002 5273; Fax No.: NA Email: /; Website:www.gretexcorporate.comContact Person: Ms. Amina Khan/Ms. Kritika Rupda SEBI Registration No: INM000012177

Misquita Engineering 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.comInvestor Grievance Email: Person: Mr. Babu Rapheal SEBI Registration No.: INR000001385 CIN: U99999MH1994PTC076534


Misquita Engineering IPO Other Details:

  • STATUTORY AUDITOR – Gupta Agarwal & Associates
  • LEGAL ADVISOR TO THE ISSUE – M V Kini, Law Firm
  • BANKER TO THE COMPANY – HDFC BANK

Misquita Engineering IPO Grey Market Premium

The Misquita Engineering 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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Misquita Engineering IPO News

News 1 – Download DRHP Prospectus

New 2 – RHP Download


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