Novateor Research Laboratories IPO Dates, Size, Allotment, Bid Details, GMP & DRHP

Last Updated Date: Nov 18, 2022

Let’s have a detailed review of the company and analytics of the Novateor IPO release date, IPO offer price, subscription, Novateor Research Laboratories 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 NA . Check the Live Share Price here Novateor Research Share Price
To track the performance of this IPO, click on this link – IPO Performance

Novateor Research Laboratories 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 Novateor Research Laboratories IPO

Novateor Research Laboratories IPO They are engaged in the business of design, manufacturing, and supply of precision equipments and heavy fabrication structures for various industrial use. Novateor undertake designing, Engineering, Fabrication, and Erection work for their clients as per their specifications and customizations.

Novateor Research Laboratories are mainly into manufacturing and fabrication work of heavy structures such as Ceiling Girder, Railway Girder , Columns & Bracings, Bolted Structures, Equipments and Pressure ducts, Box Columns etc. which are used in Power and Energy, Steel Plants, Cement Plants, Railway Bridges, Water Treatment Plants, Refinery & Fertilizer plants, Pre Engineered Building etc.

They have more than two decade’s execution experience in projects involving manufacturing and fabrication work of heavy structures. Also engaged into trading of steel, iron, chemical alloys, metals, grinding wheels, welding electrodes, abrasives, industrial helmets which are used extensively for industrial use.

The Promoters of this company are Subramaniam Swaminathan Iyer and Venkataraman Ganesan. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Cameo Corporate Services Limited.

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

Their total revenue increased by 62.39% to Rs 10,869.25 lakhs for the financial year 2017-18 from Rs 6,693.35 lakhs for the financial year 2016-17.

Other income decreased by 40.93 % to Rs 237.02 lakhs for the financial year 201718 from Rs 401.25 lakhs for the financial year 2016-17 mainly because of decrease in freight charges by Rs 137.01 lakhs, rebate & discount by Rs 22.66 lakhs and miscellaneous receipts by Rs 26.94 lakhs.

Their total expenses increased by 58.82 % to Rs 10,263.84 lakhs for the financial year 2017-18 from Rs 6,462.40 lakhs for the financial year 2016-17. Their finance costs decreased by 11.78 % to Rs 518.32 lakhs for the financial year 2017-18 from Rs 587.56 lakhs for the financial year 2016-17.

Profit before tax increased by 162.15 % to Rs 605.41 lakhs for the financial year 2017-18 from Rs 230.94 lakhs for the financial year 2016-17. The increase was mainly due to an increase in overall revenue of the company.

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Novateor Research Laboratories IPO Date

The opening and the closing date of Novateor IPO is not known yet.

Novateor 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.

Novateor IPO Allotment Status

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

Novateor IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.

Novateor IPO Equity Share Offering

Issue of 54,78,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. [ ] per Equity Share (including a share premium of Rs.[ ] per Equity share) aggregating Rs. [ ] lakhs.

Novateor Research Laboratories – Company Overview

The Company was incorporated as “Novateor Private Limited” at Bhilai, Chhattisgarh (then Madhya Pradesh) as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated April 7, 1994 issued by the Registrar of Companies, Madhya Pradesh and Gwalior bearing Registration Number 10-08234.

On December 02, 1994, the Company acquired the ongoing business of a partnership firm i.e. M/s. Novateor where one of our promoters Mr. Subramaniam Swaminathan Iyer was partner.

Subsequently, the Company was converted into a Public Limited Company pursuant to special resolution passed by the shareholders of the Company at Extraordinary General Meeting held on March 22, 2016 and the name of the Company was changed to “Novateor Research Laboratories” vide a fresh Certificate of Incorporation dated May 10, 2016 issued by the Registrar of Companies, Chhattisgarh. The Corporate Identification Number of the Company is U29222CT1994PLC008234.

Business strategies of Novateor Research Laboratories

Proposed Expansion at existing Manufacturing Facility
To expand product portfolios and turnkey composite works
Entering into International Markets
Focus on enhancing the Project Execution Capabilities
Growing our existing customers’ relationships

Novateor Research Laboratories – 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 Novateor Research Laboratories IPO

On the basis of Standalone statement:-

Amount (in INR & lakhs)
	31-Dec-18	31-Mar-18	31-Mar-17	31-Mar-16
Total Assets	12,635.88	10,660.02	8,759.65	7,655.37
Total Revenue	6,933.10	10,632.23	6,292.09	7,307.33
Total Expense	6,491.23	10,263.84	6,462.40	6,977.7
Profit After Tax	410.36	399.49	153.38	254.76

Earnings per Equity Share (in lakhs)

	31-Dec-18	31-Mar-18	31-Mar-17	31-Mar-16
Basic & Diluted	2.77	2.70	1.04	1.72

From the above statements, one could find that Novateor Research Laboratories may perform well.

Novateor IPO – Promoters

The Promoter of this company is:

Subramaniam Swaminathan Iyer
Venkataraman Ganesan

List of Related Parties (Key Managerial Personnel)

Subramaniam Swaminathan Iyer – Managing Director
Vijaya Agrawal – Company Secretary

Interest in promotion of the Company

The Key Managerial Personnel of the Company have interest in the Company to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of business and to the extent of Equity Shares held by them in the Company, if any and dividends payable thereon, if any.

Property Interest

Directors have not entered into any contract, agreement or arrangements in which the Directors are interested directly or indirectly and no payments have been made to them in respect of these contracts, agreements or arrangements or are proposed to be made to them.

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.

Novateor Research Laboratories IPO Offer Details or Issue Details

Particulars	No. Of Equity Shares
Equity Shares Offered	Upto 54,78,000 Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs.
Of which:
Reserved for Market Makers	Upto [●] Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs
Net Issue to the Public	Upto [●] Equity Shares of M 10 each for cash at a price of M [●] per share aggregating M [●] lakhs
Of which:
Retail Investors Portion	Upto [●] Equity Shares of M 10 each at a price of M [●] per Equity Share will be available for allocation for Investors of up to M 2.00 lakhs
Non-Retail Investors Portion	Upto [●] Equity Shares of M 10 each at a price of M [●] per Equity Share will be available for allocation for Investors of up to M 2.00 lakhs
Equity Shares outstanding prior to the Issue	1,48,11,300 Equity Shares
Equity Shares outstanding after the Issue	Upto [●] Equity Shares

Novateor Research Laboratories IPO Issue Object

These are the IPO Issue Objects of the company

To finance expansion of our existing Manufacturing Unit II;
Funding the working capital requirement of the Company;
General corporate purposes.

Novateor 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.)
Dec-18	2.77	11.75%	23.58
Mar-18	2.70	12.96 %	20.81
31-Mar-17	1.04	5.72 %	–
Mar-16	1.72	10.07 %	–

Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:

Particulars	P/E ratio
Highest	–
Average	–
Lowest	–

Competitive Peers: There are no listed entities which are focused exclusively on the segment in which they operate. Hence, it is not possible to provide an industry comparison in relation to the Company.

Novateor 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

Novateor IPO Registrar to offer

Registrar to the Offer

CAMEO CORPORATE SERVICES LIMITED
Subramanian Building No. 1, Club House Road, Chennai-600002 Tel: +91 044 40020700 Fax: +91 044 28460129 Website: www.cameoindia.com Email: cameo@cameoindia.com Investor Grievance Id: investor@cameoindia.com Contact Person: R.D. Ramasamy SEBI Registration Number: INR000003753