Nilshikhaa Projects IPO Dates, Bid, Size, Allotment, Subscription, GMP, Listing, Price
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the Nilshikhaa Projects Limited IPO release date, IPO offer price, subscription, Nilshikhaa Projects IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things. 
Nilshikhaa Projects Limited 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 Nilshikhaa Projects Limited IPO
They are in the business of Engineering, Procurement and Construction (“EPC”) contracting focused on power sector. Company undertake turnkey projects of government and private institutions under the various Central and state government electrification schemes. EPC business primarily operates in the sector of Transmission and Distribution (T&D) under the power infrastructure space.
Company has undertaken various contracts for Transmission and Distribution from government enterprises such as Madhya Pradesh Paschim Kshetra Vidyut Vitran Company Limited (MPPKVVCL), Madhya Pradesh Madhya Kshetra Vidyut Vitran Company Limited (MPMKVVCL) Maharashtra State Electricity Transmission Company Limited (MSETCL) and NTPC Limited under Government funded schemes.
The total order book as on August 31, 2019 stood at Rs. 13,113.00 Lakhs consisting of 12 projects, of which 7 are Power transmission projects and 5 are Power distribution project.
The Promoters of this company are Nilshikhaa Projects Limited and Communication Limited IPO is GURU PRASANNA SAHOO, ARVIND KUMAR TRIPATHI, JAGDISH KUMAR AND SHIVANANDA.
The lead managers to the issue are PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED, and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.
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Nilshikhaa Projects IPO Date
The opening and the closing date of the Nilshikhaa Projects Limited IPO are not known yet.
Nilshikhaa Projects IPO Subscription
| Day / Date | QIB | NII | RII | Total 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.
Nilshikhaa Projects IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | |
| Refunds Initiation | |
| Credit of Shares to Demat Account | |
| Share Listing Date |
Nilshikhaa Projects IPO Price Band or Cash Price
Rs. [•] per Equity Share
Nilshikhaa Projects IPO Issue Size
Rs. [•] per Equity Share
Nilshikhaa Projects IPO Size or Equity Share Offering
The Issue size comprises issuance of up to 75,00,000 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.
Nilshikhaa Projects Limited – Company Overview
Company was originally formed as Partnership firm in the name and style of M/s. Nilshikhaa Infra at Indore, Madhya Pradesh pursuant to deed of partnership dated September 27, 2013.
The Nilshikhaa Infra was thereafter converted into a Public Limited Company under the Companies Act, 2013 under the name of “Nilshikhaa Infraa India Limited” vide Certificate of Incorporation dated August 30, 2016 issued by the Central Registration Centre bearing Corporate Identification Number U74999MP2016PLC041388.
Nilshikhaa Projects Limited Business Model
Business primarily operates in the sector of Transmission and Distribution (T&D) under the power infrastructure space. The projects are purely awarded through tender basis.
They have obtained contracts from Public sector undertakings such as Madhya Pradesh Paschim Kshetra Vidyut Vitran Company Limited (MPPKVVCL), Maharashtra State Electricity Transmission Company Limited (MSETCL) and NTPC Limited which are funded by various government schemes.
company has undertaken projects from the state of Madhya Pradesh, Maharashtra and Odisha. Our scope in projects includes site survey, design, engineering, assembly, manufacturing, testing, installation and commissioning etc.
Nilshikhaa Projects Limited Business Process
Contracts are primarily awarded through “competitive bid” tender method based on combination of technical qualifications, proposed project team, schedule, past performance on similar projects, the bid amount is among the major determining factor.
Business strategies of Nilshikhaa Projects Limited
- Expansion of manufacturing capacity by establishing manufacturing unit -II:
- Selection of projects suitable for our financial model:
- Continue to enhance our core strengths – execution capability
- Increasing geographical presence
- Leveraging relationship with vendors and customers
Nilshikhaa Projects 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 of Nilshikhaa Projects Limited IPO
On the basis of Standalone statement:-
| Amount (in INR & lakhs) | |||
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Total Assets | 10,533.50 | 6,447.69 | 6,005.83 |
| Total Revenue | 16,436.79 | 1 0,411.64 | 9,196.73 |
| Total Expense | 1,338.13 | 447.94 | 304.64 |
| Profit After Tax | 932.83 | 323.85 | 204.11 |
Earnings per Equity Share (in lakhs)
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Basic & Diluted | 4.95 | 2.59 | 1.71 |
From the above statements, one could find that Nilshikhaa Projects Limited may perform well.
Nilshikhaa Projects Limited IPO – Promoters
The Promoter of this company is:
- GURU PRASANNA SAHOO,
- ARVIND KUMAR TRIPATHI,
- JAGDISH KUMAR AND SHIVANANDA
List of Related Parties (Key Managerial Personnel)
- AMIT KUMAR KUMAR GAUTAM, CHIEF FINANCIAL OFFICER
- AARTI THAKUR, COMPANY SECRETARY AND COMPLIANCE OFFICER
Interest in promotion of the Company
Group entities do not have any interest in the promotion or any business or other interests in Company.
Property Interest
Group entities have no interest in the properties acquired by company in the three years preceding the filing of Draft Red Herring Prospectus
Interest in Intellectual Rights of the Company
As on the date of filing of the Draft Red Herring Prospectus, the Company does not own any intellectual property rights.
Nilshikhaa Projects Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Issue of Equity Shares by our Company | Offer of upto 75,00,000* Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●]/- per Equity share aggregating Rs. [●] Lakhs |
| Of which: | |
| Market Maker Reservation Portion | [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. [●] /- per Equity share aggregating Rs. [●] Lakhs |
| Net Issue to the Public | Upto [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at a price of Rs. [●] /- per share aggregating Rs. [●] Lakhs. |
| Of which: | |
| (A) Retail Portion | Upto [●] Equity Shares of face value of Rs. 10/- each. |
| (B) Non – Institutional Portion | Upto [●] Equity Shares of face value of Rs. 10/- each. |
| Pre-and Post-Issue Equity Shares | |
| Equity Shares outstanding prior to the Issue | 2,10,00,000 Equity Shares of face value of Rs.10/- each. |
| Equity Shares outstanding after the Issue | Upto [●] Equity Shares of face value of Rs.10/- each. |
Nilshikhaa Projects Limited IPO Issue Object
These are the IPO Issue Objects of the company
- To finance establishment of Manufacturing Unit II;
- Funding the working capital requirement of the Company; and
- General corporate purposes
Nilshikhaa Projects Limited 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:
- Dedicated management and employee base
- Established track record and pre qualification
- Quality assurance
- In-house testing lab
- Completion of projects in stipulated timelines
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW | NAV (Rs.) | |
| 31-Mar-17 | 1.71 | 15.67% | – |
| 31-Mar-18 | 2.59 | 17.69% | – |
| 31-Mar-19 | 4.95 | 26.93% | 16.49 |
- Price to Earnings (P/E) ratio in relation to Issue Price Rs. [●] per Equity Share of Rs. 10 each fully paid up
| Particulars | P/E ratio |
| Highest | 39.41 |
| Average | 25.67 |
| Lowest | 16.55 |
- Competitive Peers:
| Companies | EPS | PE Ratio | RONW (%) | NAV (Per Share) | Face Value |
| Nilshikhaa Projects Limited and Communication Limited | 4.95 | [●] | 26.93% | 16.49 | 10.00 |
| Techno Electric & Engineering Co. Limited | 16.12 | 16.42 | 12.93% | 124.63 | 2.00 |
| Sharika Enterprises Limited | 0.82 | 39.41 | 3.63% | 22.70 | 2.00 |
| GE T&D India Limited |
8.31 | 21.19 | 14.89% | 55.77 | 2.00 |
Nilshikhaa Projects Limited IPO Lead Managers
| Lead Managers |
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India Tel: +91-22 6194 6700; Fax: +91-22 2659 8690 Website: www.pantomathgroup.com Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Contact Person: Unmesh Zagade SEBI Registration No: INM000012110 |
Nilshikhaa Projects Limited IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, Maharashtra, India Tel: +91 22 4918 6200; Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: nilshikha.ipo@linkintime.co.in Investor Grievance Id: nilshikha.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Nilshikhaa Projects Limited IPO Other Details:
- Statutory Auditor –M/s. Nitin K. Shah & Co. Chartered Accountant
- Peer Review Auditor – M/s. Nitin K. Shah & Co. Chartered Accountant
- Bankers to the Company – [●]
Nilshikhaa Projects Limited IPO Grey Market Premium
The Nilshikhaa Projects Limited 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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