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Pentech Metals IPO – Review, Allotment, Subscription, GMP & DRHP

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

Pentech Metals Limited operates as a trader, stockiest and distributor of iron & steel products. Further, they have entered into Bailee agreement with a service provider who manufactures TMT bars for the Company as per requirements of the Customers.


Pentech Metals IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Pentech Metals IPO

Pentech Metals IPOPentech Metals Limited operates as a trader, stockiest and distributor of iron & steel products. Further, they have entered into Bailee agreement with a service provider who manufactures TMT bars for the Company as per requirements of the Customers. Initial public offering of up to 64,40,000 Equity Shares of Rs. 10 each for cash at a price of [●] per share aggregating to [●] lakhs. It consists of Fresh issue of up to 40,40,000 equity shares by the company aggregating to [●] lakhs by the Company as part of the Issue and the offer for sale of 24,00,000 Equity Shares by Mrs. Tina Gandhi, in terms of this Draft Prospectus and Prospectus.

Restated Financial Statements of Recent years:

  • In fiscal 2018, the total income increased by Rs. 4,923.18 lacs or 22.33%, from 22,048.88 lacs in fiscal 2017 to Rs. 26,972.06 lacs in fiscal 2018. In fiscal 2017, the total income decreased by Rs. 25,052 lacs or 53.19%, from Rs. 47,100.88 lacs in fiscal 2016 to Rs. 22,048.78 lacs in fiscal 2017. The decrease in income during this fiscal was due to slow down in the Indian Steel Industry which dipped the demand for the products like cold rolled sheets and coils, hot rolled sheets and M S Angle.
  • The net asset value per Equity Share was Rs. 10.90 and Rs. 10.63 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • The net worth of the company is Rs. 2179.54 lakhs as on Sept 30, 2018 and Rs. 2126.35 lakhs as on March 31st, 2018.
  • The profit after tax was Rs. 19.48 Lakhs for FY 2015-16 and Rs. 31.40 Lakhs for FY 2016-17, Rs. 62.78 lakhs for FY 2017-18 and Rs. 53.20 Lakhs as on September 30, 2018.

The Promoter of this company is Mrs. Tina Gandhi. The lead manager to the issue is Aryaman Financial Services Limited and the Registrar to this issue is Bigshare Services Private Limited.



Pentech Metals IPO Date

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


Pentech Metals IPO Subscription

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

Pentech Metals IPO Allotment Status

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


Pentech Metals IPO Price Band

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


Pentech Metals IPO Equity Share Offering

Upto 64,40,000 Equity Shares of Rs. 10 each for cash at a price of [●] per share aggregating to [●] lakhs.


Pentech Metals Limited – Company Overview

Pentech Metals Limited was incorporated as “Pentech Metals Private Limited” on October 09, 2014 under the Companies Act, 2013 with the Registrar of Companies, Mumbai, Maharashtra. This Company was converted into a public limited company pursuant to a special resolution passed by the Shareholders on January 28, 2019 and the name of the Company was changed to “Pentech Metals Limited”.

Pentech Metals Limited operates as a trader, stockiest and distributor of iron & steel products. Further, they have entered into Bailee agreement with a service provider who manufactures TMT bars for the Company as per requirements of the Customers. They cater majorly to domestic markets. They have relations with dealers, traders and distributors who are well established in steel industry which help them gain long term benefits. They aim to expand the customer base by reaching out to new states and increasing the sales in existing states.

Pentech Metals Products:

Some of the products include Cold Rolled Coil , Colour Coated Coils , Cold Rolled Sheet , Cold Rolled Steel Sheet In Coils , Finished Hot Rolled Plates , Galvanized Corrugated Sheet , Galvanized Sheet , Galvanized Plain Coil , Galvanized Plain Sheet , Galvanized Sheet Galva Coil.

Registered Office:

This Company primarily operates from its Registered Office located at Office No.507, 5th Floor, The Summit Business Bay, Andheri A.K Road, Gondavali, Opp. Cinemax, Andheri; Mumbai – 400093. Further, they also have a godown / storage unit located at Gut no. 154 to 161 and 163 to 165, Wada Shahpur Road, Village Abitgarh, Taluka Wada, District Palghar – 421303.

Competitive Strengths of Pentech Metals Limited :

  • Existing Supplier Relationship 
  • Experienced Management Team
  • Existing Client Base
  • Strong Balance Sheet and Financial Condition
  • Optimal Utilization of Resources

Business strategies of Pentech Metals Limited :

  • Better working capital management
  • Improving functional efficiency
  • Asset light Model
  • Leveraging our Market skills and Relationships
  • To build-up a professional organization

Pentech Metals 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 & lakhs)
30-Sept-1831-Mar-1831-Mar-1731-Mar-16
Total Assets6,500.175,836.896,843.256,244.86
Total Revenue15,208.6826,972.0622,048.8847,100.88
Total Expense15,130.8226,875.9622,002.1847,063.81
Profit After Tax53.2062.7831.4019.48

Earnings per Equity Share (in lakhs)

30-Sept-1831-Mar-1831-Mar-1731-Mar-16
Basic & Diluted0.270.310.160.26

From the above statements, one could find that the Pentech Metals Limited may perform well.


Pentech Metals IPO – Promoters

The Promoter of this company is: Mrs. Tina Gandhi

List of Related Parties (Key Managerial Personnel)

  • Mr. Kunal Gandhi- Chief Financial Officer (CFO) 
  • Mr. Nikhil – Chief Financial Officer (CFO)
  • Ms. Surabhi Agrawal- Company Secretary & Compliance Officer

Interest in promotion of the Company

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.


Pentech Metals IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered 64,40,000 Equity Shares of Rs. 10 each for cash at a price of [●] per share aggregating to [●] lakhs.
 Of which:
Fresh Issue40,40,000 Equity Shares of Rs. 10 each for cash at a price of
[●] per share aggregating [●] lakhs
Offer for Sale24,00,000 Equity Shares of Rs.10 each for cash at a price of
[●] per share aggregating [●] lakhs
 Reserved for Market Makers 3,60,000 Equity Shares of Rs. 10 each for cash at a price of Rs.
[●] per share aggregating Rs. [●] lakhs
 Net Issue to the Public 60,80,000 Equity Shares of Rs 10 each for cash at a price of
[●] per share aggregating [●] lakhs
 Retail Investors Portion 30,40,000 Equity Shares of Rs. 10 each at a price of [●] per
Equity Share will be available for allocation for Investors
of up to Rs. 2.00 lakhs
 Non-Retail Investors Portion30,40,000 Equity Shares of Rs. 10 each at a price of [●] per
Equity Share will be available for allocation for Investors
of above Rs. 2.00 lakhs
 Equity Shares outstanding prior to the Issue2,00,00,000 Equity Shares
 Equity Shares outstanding after the IssueUpto 2,40,40,000 Equity Shares

Pentech Metals 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

Pentech Metals 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:

  • Existing Supplier Relationship 
  • Experienced Management Team
  • Existing Client Base
  • Strong Balance Sheet and Financial Condition
  • Optimal Utilization of Resources

The relevant quantitative factors are:

Basic & Diluted EPSRONW in %NAV (Rs.)
31-Mar-160.26
31-Mar-170.16
31-Mar-180.312.95
10.63
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
ParticularsP/E ratio
Highest24.5
Average8.00
Lowest2.3
  • Competitive Peers:
Sr. No. ParticularsFace Value  (in Rs.) EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
1Kanishk Steel Industries Limited100.5817.843.3516.58
2Prakash Industries Limited1023.057.344.89165.40
3Kamdhenu Limted106.6936.2010.9161.37
4Pentech Metals Limited100.31 [●]2.9510.63

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Pentech Metals IPO Lead Managers

Lead Managers
ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor
Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001
Tel No.: +91 22 6216 6999; Fax No.: +91 22 2263 0434
Email: ; Website: www.afsl.co.in
Investor Grievance Email:
Contact Person: Ms. Namrata Ravasia / Mr. Linesh Pobaru
SEBI Registration No. INM000011344

Pentech Metals 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.com
Investor Grievance Email: ;
Contact Person: Mr. Babu Rapheal
SEBI Registration No.: INR000001385

Other Details:

  • Statutory Auditor – M/s. V. J. Shah & Co., Chartered Accountants
  • Peer Review Auditor -M/s. V. J. Shah & Co., Chartered Accountants
  • Bankers to the Company –N.A.

Pentech Metals 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

Pentech Metals IPO Grey Market Premium

The Pentech Metals 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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Pentech Metals IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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