Salebhai Internet Limited IPO – Review, Allotment Status, Subscription, Price, Date & more

Salebhai is an Indian e-commerce portal that enables people living away from home order a range of specialties directly from their hometowns.  The company has issued 22,59,600 Equity shares of Rs.10 each at a cash price of Rs. 105/- PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 95/- PER EQUITY SHARE) (“ISSUE PRICE”) AGGREGATING TO Rs. 2372.58 LAKHS. Let’s have a detailed review of the company and analytics of the Salebhai Internet Limited IPO release date, IPO offer price, subscription, Salebhai Internet Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Salebhai Internet Limited IPO Review & Ratings

Salebhai Internet Limited IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.0/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.0/10
Competitive Edge6.4/10
Financial Statements6.0/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.2/10
Star Ratings★★★☆☆

Summary of Salebhai Internet Limited IPO

Salebhai Internet Limited IPOSalebhai Limited is a one-stop solution for those who want to discover regional products from across India. People can pick from a wide variety of delicious consumable items like sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, and pickles. Salebhai also offers other products such as handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.

From FY 2015-16 to FY 2016-2017, as per the Restated Financial Statements:

From fiscal 2016 to 2017, company’s revenue from operations has increased at a growth rate of 3533.60%.

During the year 2016-17, the total revenue of our company has increased to Rs. 45.42 lakhs as against Rs. 1.25 lakhs in year 2015-16. It represents increase of 3533.60% of the total revenue.

The Promoter of this company is  MR. VISHWAVIJAY SINGH, MR. ANANDPRAKASH VARANI and MRS. PURBA KALITA. The lead manager to the issue is MONARCH NETWORTH CAPITAL LIMITED and the Registrar to this issue is SKYLINE FINANCIAL SERVICES PRIVATE LIMITED.


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Salebhai Internet Limited IPO Date

The opening and the closing date is from July 27, 2018 – August 2, 2018.


Salebhai Internet Limited IPO Subscription

 Subscription
Day 1 – 27 July, 20180.19x (398400 shares)
Day 2 – 30 July, 20180.24x (513600 shares)
Day 3 – 31 July, 2018X
Day 4 – 01 Aug, 2018X
Day 5 – 02 Aug, 2018 X

 


Salebhai Internet Limited IPO Allotment Status

The details of allotment of shares made by the company to the public will be updated herein once the company is through with the allotment process.


Salebhai Internet Limited IPO Price Band

The face value of each share is Rs 10 and the cash price is Rs. 105/- Per Equity Share (Including a Share Premium of Rs. 95/- per Equity Share).


Salebhai Internet Limited IPO Equity Share Offering

22,59,600 Equity Shares of Rs 10/- each and Issue Price Rs.105. So it will be aggregated to Rs. Rs. 2372.58 lakhs.


Salebhai Internet Limited Limited – Company Overview

Salebhai Internet Limited was originally incorporated in Ahmedabad as ―Salebhai Internet Private Limited‖ on April 06, 2015 under the provisions of the Companies Act, 2013 vide certificate of incorporation issued by the Registrar of Companies, Ahmedabad, Gujarat. A fresh certificate of incorporation consequent upon conversion of Company to ― Salebhai Internet Limited was issued on February 12, 2018 by the Registrar of Companies, Ahmedabad, Gujarat. The Company‘s Corporate Identity Number is U51101GJ2015PLC082801.

Salebhai.com is an Indian e-commerce portal that enables people living away from home order a range of specialties directly from their hometowns. It is also a one-stop solution for those who want to discover regional products from across India. People can pick from a wide variety of delicious consumable items like sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, and pickles. Salebhai also offers other products such as handicrafts, paintings, puja items, handloom goods, and herbal & wellness items.

The unique enterprise was launched on 15th September, 2015 by Mr. Vishwavijay Singh, Mrs. Purba Kalita, and Mr. Anand Varani, after they identified a market gap, led by people migrating within Indian and abroad and goods representing their culture were mostly in short supply. After studying migration trends among Indian citizens, it was observed that most people moved to fast growing cities like Ahmedabad, Bangalore, Chennai, Delhi, Kolkata, and Mumbai – either due to employment opportunities, education, or marriage.

The data on migration in the 2011 Census also revealed that 2 out of every 5 Indians are migrants, which make for a whopping 40% Diaspora population. The market gap also demonstrated that migration created a void in people‘s lives. Therefore, driven by back-toroots philosophy, this E-commerce marketplace focuses on requirements of over 17 Diaspora communities living in big Indian cities as well as those who live abroad.

With 8500 products sourced from over 100 cities and 300 select vendors, the company provides people with an opportunity to buy products in various categories from sellers across India as well as discover new items from different communities and cultures. Furthermore, the products available on Salebhai.com are priced exactly as displayed on the shops where they are available. All products listed on this platform come with detailed description, which include – popularity, benefits, facts, place of origin, usage, etc. Apart from these, all consumable products come with serving ideas from reputed chefs. The platform also lists complete information about vendors such as their history, lineage, and reputation.

The Company is promoted by Mr. Vishwavijay Singh, Mrs. Purba Kalita and Mr. Anand Varani, after they identified a market gap, led by people migrating within Indian and abroad and goods representing their culture were mostly in short supply.

Competitive Strengths of Salebhai Internet Limited Limited:

  • Consumer-facing Concerns
  • Higher Brand & Product Awareness
  • Higher Brand Value of Company
  • Associated With Distinct Identity
  • Unsalaried Promoters
  • Undiscounted Equities

Business strategies of Salebhai Internet Limited Limited:

  • Focus on Repeat Buyers.
  • Customer-Friendly Platform.
  • Quality of Products.
  • Corporate Gifting.
  • Reasonable Pricing.
  • Fast and Secure Delivery.
  • After Sales Services.
  • Social Media campaigns.
  • Marketing and Promotion.

Salebhai Internet Limited 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)
31-Jan-1831-Mar-1731-Mar-16
Total Assets664.0397.0510.57
Total Revenue113.29 46.02 3.70
Total Expense273.20334.29114.55
Profit After Tax(159.87)(288.11) (111.19)

Earnings per Equity Share (in Lakhs)

31-Mar-1731-Mar-16
Basic and Diluted(68.25)(1111.92)

 


Salebhai Internet Limited IPO – Promoters

The Promoter of this company are:

  1. Mr. Vishwavijay Singh
  2. Mrs. Purba Kalita
  3. Mr. Anand Varani

List of Related Parties (Key Managerial Personnel)

  • Mr. Anandprakash Varani.
  • Ms. Chitra Thaker.

Interest in promotion of the Company

Promoters jointly hold 33,40,150 Equity Shares aggregating to 53.52 % of pre-issue Equity Share Capital in the  Company and they are interested to the extent that they have promoted the Company and to the extent of their shareholding in the Company & dividend payable thereon, if any. The Promoters of the company who may be deemed to be interested to the extent of remuneration, as per the terms of their appointment and reimbursement of expenses payable to them or sitting fees paid to them.  Promoters may be interested to the extent of unsecured loans granted to the Company. Further, Promoters may also interested to the extent of loans, if any, taken by them or their relatives or taken by the companies/ firms in which they are interested as Directors/Members/Partners. Further they may be deemed to be interested to the extent of transactions carried on / payment made by the Company to the proprietorship firm / partnership firm / companies in which they are Proprietor/ Partner / Promoter and/or Directors.

Property Interest

Promoters do not have any interest in any property acquired two years prior to the date of this Draft Prospectus. Further, Promoters are not currently interested in any transaction with the Company involving acquisition of land, construction of building or supply of any machinery.

Interest in Intellectual Rights of the Company

Promoters has not shown any interest in acquiring the intellectual rights of the company.


Salebhai Internet Limited IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 122,59,600 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. 105/- Per Equity Share (Including a Share Premium of Rs. 95/- per Equity Share) aggregating to Rs.2372.58 lakhs.
 Of which:
 Reserved for Market Makers 1,16,400 Equity Shares of Rs.10/- each for cash at a price of
Rs. 105/-per share aggregating Rs.122.22 lakhs
 Net Issue to the Public 21,43,200 Equity Shares of Rs.10/- each for cash at a price of
Rs.105/- per share aggregating Rs. 2250.36 lakhs
 Of which:
 Retail Investors Portion 10,71,600 Equity Shares of Rs.10/- each for cash at a price of Rs. 105/-per share ( including a premium of Rs. 95/- per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs.2.00 lakhs
 Non-Retail Investors Portion10,71,600 Equity Shares of Rs.10/- each for cash at a price of
Rs. 105/-per share ( including a premium of Rs. 95/- per Equity Share) will be available for allocation for allotment to other Investors of Above Rs.2.00 lakhs
 Equity Shares outstanding prior to the Issue62,41,510 Equity Shares of face value of Rs.10/- each
 Equity Shares outstanding after the Issue85,01,110 Equity Shares of face value of Rs.10/- each

Salebhai Internet Limited IPO Issue Object

These are the IPO Issue Objects of the company-

  • Operating Expenditure
  •  Customer Acquisition
  •  IT Development
  •  General Corporate Purpose
  •  Brand Building & Promotion
  •  Issue Expense

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Salebhai Internet 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:

  • Experienced promoters and Management Expertise
  •  Consumer Facing Concern
  •  High brand and Product Awareness
  • Networking strength

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-17(68.25)(172.01)(31.93)
31-Mar-16(1,111.92)(100.91)(1101.92)

 


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Salebhai Internet Limited IPO Lead Managers

Lead Managers
MONARCH NETWORTH CAPITAL LIMITED
Address – Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road,
Navrangpura, Ahmedabad – 380014. Tel. No. – 079 – 6600 0500/ 700
Website: https://www.mnclgroup.com/ Email:
Investor Grievance Email:
Contact Person: Mr. Shivam Patel SEBI Regn. No. MB/ INM000011013

Salebhai Internet Limited IPO Registrar to offer

Registrar to the Offer
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED,
Address 4A9, Gundecha Onclave, Kherani Road, Sakinaka, Mumbai – 400072
Tel. No. +91-22-28511022 / 62215779 Website: www.skylinerta.com
Email: SEBI Regn. No. INE 000003241
Investor Grievance Email:
Contact Person: Virender Rana / Subhash Dhingreja

Other Details:

  • Statutory Auditor – M/s. Sunil Dad & Co.
  • Bankers to the Company –  ICICI Bank.
  • Legal Advisor to the Company-M/s. Pooja Legal Ventures
  • Underwriter to the Issue- Monarch Networth Capital Limited

Salebhai Internet Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


Salebhai Internet Limited IPO Grey Market Premium

The Salebhai Internet Limited IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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Salebhai Internet Limited IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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