Patel Infrastructure IPO – Review, Allotment, Subscription, GMP Price & DRHP

Patel Infrastructure Limited is an established construction, development and maintenance service company, with a track record of 13 years of experience and expertise in execution of various road focused EPC projects in various states of India. Patel Infrastructure IPO comprises of Equity shares, face value of Rs.10 each.

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


Patel Infrastructure IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.1/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.8/10
Competitive Edge8.0/10
Financial Statements8.4/10
Popularity Index7.8/10
Promoters Reputation7.9/10
Retail Appetite7.7/10
Top Brokers Review7.7/10
Overall Ratings7.9/10
Star Ratings★★★★☆

Summary of Patel Infrastructure Limited IPO

Patel Infrastructure IPOPatel Infrastructure Limited is an established construction, development and maintenance service company, with a track record of 13 years of experience and expertise in execution of various road focused EPC projects in various states of India. The Company categorize their operations into primarily two businesses, namely, their construction contract business, under which they carry out EPC services for third parties, primarily in the roads and highways sector, including highways and bridges, building and other civil construction projects.The Issue comprises of a Public Issue of  *Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 92.50% and -11.70%, respectively.

For the period ended Sept 31, 2017, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 6,511.07   Millions, Rs.13,294.05 Millions and Rs. 6,906.45 Millions, respectively representing growth of  92.50 % from the FY 2015-16 to FY 2016-17. For the period ended March 31, 2017, FY 2016-17 and FY 2015-16 their net profit was Rs.426.48  Millions, Rs. 777.08 Millions and Rs. 880.23 Millions, respectively, representing a growth of  -11.71 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017 the Other Income of their company increased to Rs.   60.95  Millions as against Rs.44.53Millions for the financial year 2016-15, representing increase by  36.87 % 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.367.42 Millions from the year 2015-16 of Rs. 643.34 Millions showing an increase of 687.26% from last year, showing remarkable performance.

The Promoter of this company is Mr. Pravinbhai Vithalbhai Patel, Mr. Arvind Vithalbhai Patel, Mr. Dineshbhai Pragjibhai Vaviya, Mr. Madhubhai Pragjibhai Vaviya and Mr. Sureshbhai Pragjibhai Vaviya. The lead manager to the issue is SBI Capital Markets Limited and IIFL Holdings Limited and the Registrar to this issue is Bigshare Services Private Limited .


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Patel Infrastructure IPO Date

The opening and the closing date of IPO of Patel Infrastructure Limited is not known yet.


Patel Infrastructure IPO Subscription

Day / DateQIBNIIRIITotal Subscription
Day 1   
Day 2    
Day 3    
Day 4    
Day 5    

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


Patel Infrastructure IPO Allotment Status

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

Patel Infrastructure IPO Price Band

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


Patel Infrastructure IPO Equity Share Offering

Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


Patel Infrastructure Limited – Company Overview

Patel Infrastructure Limited is an established construction, development and maintenance service company, with a track record of 13 years of experience and expertise in execution of various road focused EPC projects in various states of India. The Company categorise their operations into primarily two businesses, namely, their construction contract business, under which they carry out EPC services for third parties, primarily in the roads and highways sector, including highways and bridges, building and other civil construction projects.The Issue comprises of a Public Issue of  Equity shares of face value of Rs.10.00 each fully paid  up.

The Company is  executing projects across various States in India, with Tamil Nadu, Rajasthan, Punjab, Karnataka, Gujarat and Madhya Pradesh having contributed 44.78%, 35.73%, 12.11%, 4.10%, 2.60% and 0.68%, respectively, to ther Order Book, as on October 31, 2017

The Company is promoted by Mr. Pravinbhai Vithalbhai Patel, Mr. Arvind Vithalbhai Patel, Mr. Dineshbhai Pragjibhai Vaviya, Mr. Madhubhai Pragjibhai Vaviya and Mr. Sureshbhai Pragjibhai Vaviya and are the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Patel Infrastructure Limited:

  • Strong track record of completed infrastructure projects across various states in India, with focus on roads and highways projects.
  • Strong Order Book with growing project portfolio.
  • Focused geographic expansion based on scientific project selection.
  • Technology enabled project management capabilities.

Business strategies of Patel Infrastructure Limited:

  • Continue focusing on roads and highways projects while selectively expanding their geographic footprint.
  • Continue focusing on enhancing execution efficiency.
  • Focus on exploring the hybrid annuity based model
  • Capitalize on the growth opportunities in the Indian infrastructure industry.

Patel Infrastructure 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:

Amount (in INR & Millions)
30-Sep-1731-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets11,138.82  11,020.749,303.526,278.90  6,004.36
Total Revenue7,994.00  15,932.678,911.35 5,643.64 6,608.21
Total Expense7,455.04  15,166.898,502.60 5,466.10 6,252.16
Profit After Tax484.09 713.98 883.42 149.90 226.49

Earnings per Equity Share (in Millions)

30-Sep-1731-Mar-1731-Mar-16
Basic & Diluted14.115.562.63

From the above statements, one could find that the Patel Infrastructure Limited may perform well.


Patel Infrastructure IPO – Promoters

The Promoter of this company are:

  1. Mr. Pravinbhai Vithalbhai Patel,
  2. Mr. Arvind Vithalbhai Patel,
  3. Mr. Dineshbhai Pragjibhai Vaviya,
  4. Mr. Madhubhai Pragjibhai Vaviya 
  5. Mr. Sureshbhai Pragjibhai Vaviya

List of Related Parties (Key Managerial Personnel)

  • Jay Patel
  • Mr. Krunal Patel 
  • Mr. Parth Patel 

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.


Patel Infrastructure IPO Offer Details or Issue Details

OfferUp to [●] Equity Shares aggregating up to Rs 4,000 million
Of which
QIB CategoryAt least [●] Equity Shares
Of which:
 Anchor Investor PortionUp 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 CategoryNot less than [●] Equity Shares
Retail CategoryNot less than [●] Equity Shares
Equity Shares outstanding prior to the offerX Equity Shares
Equity Shares outstanding after the OfferX Equity Shares

Patel Infrastructure IPO Issue Object

These are the IPO Issue Objects of the company

  •  investment in  Subsidiary, Patel Cholopuram-Thanjavur Highway Private Limited for part financing of the Cholopuram-Thanjavur HAM Project;
  •  purchase of construction equipment;
  •  funding incremental working capital requirement of their Company;
  •  repayment/prepayment in full of certain indebtedness;
  •  general corporate purposes.

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Patel Infrastructure 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:

  •  Strong track record of completed infrastructure projects across various states in India, with focus on roads and highways projects;
  •  Strong Order Book with growing project portfolio;
  •  Focused geographic expansion based on scientific project selection;
  •  Technology enabled project management capabilities; and
  •  Experienced promoters with senior management team and skilled workforce.

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-163.029.76
31-Mar-177.6019.7565.61
31-Sep-1715.5828.8976.13
  • Industry P/E Ratio:
ParticularsP/E ratio
Average39.49
Highest45.31
Lowest35.56
  • Competitive Peers:
ParticularsFace Value (in Rs.)EPS     (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
Sadbhav Engineering
Limited
1-3.15***-13.6873.11
Dilip Buildcon Limited*227.5635.5620.81125.69

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Patel Infrastructure IPO Lead Managers

Lead Managers
SBI Capital Markets Limited
202, Maker Tower ‘E’Cuffe Parade, Mumbai 400 005 Maharashtra, India
Telephone: (+91 22) 2217 8300, Facsimile: (+91 22) 2218 8332
Email:
Investor Grievance E-mail:
Website: www.sbicaps.com
Contact Person: Mr. Ronak Shah/ Mr. Janardhan Wagle
SEBI Registration No.: INM000003531

Patel Infrastructure IPO Registrar to offer

Registrar to the Offer
Bigshare Services Private Limited
1st Floor, Bharat Tin Works Building,
Opposite Vasant Oasis, Makwana Road,
Marol, Andheri (East)Mumbai 400 059,
Maharashtra, India
Tel: (+91 22) 6263 8200, Facsimile: (+91 22) 6263 8299
E-mail:
Investor Grievance E-mail:
Website: www.bigshareonline.com
Contact Person: Mr. Babu Raphael
SEBI Registration No.: INR000001385

Other Details:

  • Statutory Auditor –  M/s Surana Maloo & Co., Chartered Accountant
  • Peer Review Auditor – M/s Surana Maloo & Co., Chartered Accountant
  • Bankers to the Company –  State Bank of India, Oriental Bank of Commerce

Patel Infrastructure IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Patel Infrastructure IPO Grey Market Premium

The Patel Infrastructure 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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Patel Infrastructure IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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