Northern Spirits IPO – Review, Allotment, Subscription, GMP & DRHP

Northern Spirits Limited is into the liquor business. Northern Spirits is engaged in the business of importing and distribution of Whisky, Vodka, GIN, Red and white wine, Beer, tequila etc. Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs. Northern Spirits IPO comprises public Issue Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.

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

• Issue Price of this IPO is Rs.43 . Check the Live Share Price here Northern Spirits Share Price
• To track the performance of this IPO, click on this link – IPO Performance

Northern Spirits IPO Review & Ratings

Summary of Northern Spirits IPO

Northern Spirits Limited is engaged in the liquor business. Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs. This Company has been enjoying a business growth of around 40% YOY for last 4 years. Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,

• During the FY 2017-18 the total revenue of the company increased to Rs. 2,589.29 Lacs as against Rs. 1,736.43 Lacs in the FY 2016-17, representing a increase of 49.12 % of the total revenue. This increase was mainly due to increase in revenue from operations. During the FY 2016-17 the total revenue of the company increased to Rs. 1732.25 Lacs as against Rs. 321.83 Lacs in the FY 2015-16, representing an increase of 438.26 % of the total revenue. This increase was mainly due to sale of products.
• The net asset value per Equity Share was Rs. 70.64 and Rs. 69.80 as of June 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements and Rs. 77.14 and Rs. 76.19 as of June 30, 2018 and March 31, 2018, respectively, as per the Restated Consolidated Financial Statements.
• The Net Worth of the Company as per the Restated Financial Information as of on March 31, 2018 is Rs. 617.32 Lakhs and as on 30th September 2018 is Rs. 3367.66 Lakhs.
• Profit after Tax for FY 2017-18 has been increased to Rs. 100.64 Lacs from Rs. 53.24 Lacs representing increase by 89.04 % from FY 2016-2017. Profit after Tax has increased due to comparative increase in revenue than expenses. Profit after Tax for FY 2016-17 has been increased to Rs. 53.24 Lacs from Rs. -50.85 Lacs from
  FY 2015-16. Profit after Tax has increased due to comparative increase in revenue than expenses.

The Promoters of this company are Mr. Kulbir Bakshi, Mr. Anuj Bakshi and Mr. Ankush Bakshi. The lead manager to the issue is Finshore Management Services Limited and the Registrar to this issue is Cameo Corporate Services Ltd.

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Northern Spirits IPO Date

The opening and the closing date of Northern Spirits IPO is Mar 22, 2019 – Mar 27, 2019.

Northern Spirits IPO Subscription

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.

Northern Spirits IPO Allotment Status

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

Northern Spirits IPO Price Band

The face value of each share is Rs 10, but the cash price of the IPO is Rs 43.

Northern Spirits IPO Equity Share Offering

Initial public offer of up to 43,02,000 Equity Shares of Face Value of Rs. 10/- each.

Northern Spirits Limited – Company Overview

Northern Spirits Limited is engaged in the liquor business. Northern Spirits is engaged in the business of importing and distribution of Whisky, Vodka, GIN, Red and white wine, Beer, tequila etc.

Northern Spirits has chosen New Delhi (NCR) as its business capital, the place that constantly brews promises for the liquor entrepreneurs. This Company has been enjoying a business growth of around 40% YOY for last 4 years. Northern Spirits has crafted the International Brand Space for itself with all these resources and has ventured into market of New Delhi.

It has opened up big opportunities to distribute brands across high consumption states and union territories of:

• Chandigarh
• Uttar Pradesh
• Himachal Pradesh
• Punjab

The Company is promoted by Mr. Kulbir Bakshi, Mr. Anuj Bakshi and Mr. Ankush Bakshi and are the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Northern Spirits Limited:

• Established and proven track record;
• Leveraging the experience of the Promoters; 
• Experienced management team and a motivated and efficient work force;
• Cordial relations with the customers
• Quality Assurance & Control

Business strategies of Northern Spirits Limited:

• Focus on Enhancing the Project Execution Capabilities
• Enhancing Operating Effectiveness and Efficiency
• Continue to Build-Up a Professional Organization
• Capture the High Growth Opportunities in the foreign liquor industry

Northern Spirits 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:

On the basis of Standalone statement:-

Earnings per Equity Share (in Lakhs)

From the above statements, one could find that the Northern Spirits Limited may perform well.

Northern Spirits IPO – Promoters

The Promoters of this company are:

• Mr. Kulbir Bakshi,
• Mr. Anuj Bakshi
• Mr. Ankush Bakshi

List of Related Parties (Key Managerial Personnel)

• Mr. Ankush Bakshi
• Ms. Nikita Sureka
• Mr. Amit Kumar

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.

Northern Spirits IPO Offer Details or Issue Details

Northern Spirits IPO Issue Object

These are the IPO Issue Objects of the company

• Funding the Working Capital requirements of the Company:
•  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
•  General Corporate Purposes

Northern Spirits 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:

• Established and proven track record;
• Leveraging the experience of their Promoters; 
• Experienced management team and a motivated and efficient work force;
• Cordial relations with their customers
• Quality Assurance & Control

The relevant quantitative factors are:

• Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each

• Competitive Peers:

They believe that none of the listed companies in India offer products or services across the various business segments in which they operate. Hence a strict comparison is not possible.

Northern Spirits IPO Lead Managers

Northern Spirits IPO Registrar to offer

Other Details:

• Statutory Auditor – M/s. Agarwal Saha & Associates, Chartered Accountants
• Peer Review Auditor – M/s. J K Sarawgi & Company Chartered Accountants
• Bankers to the Company – DBS Bank

Northern Spirits IPO Review by Top 10 Stock Brokers

Northern Spirits IPO Grey Market Premium

The Northern Spirits 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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Northern Spirits IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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