Satyasai Pressure Vessels IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 24, 2022Let’s have a detailed review of the company and analytics of the Satyasai Pressure Vessels IPO release date, IPO offer price, subscription, Satyasai Pressure Vessels IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Satyasai Pressure Vessels Limited is engaged in the business of manufacturing of two piece LPG Cylinders with varied capacity ranging from 5 kg to 21 kg and three piece LPG Cylinders with 33 kg to 47.5 kg capacity which are used for household, commercial and Industrial application. The cylinders are manufactured in water capacities ranging from 11.7 to 111 litres and is one of the largest manufacturers of LPG Cylinders in India. 
Satyasai Pressure Vessels IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.1/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.2/10 |
| Overall Ratings | 7.6/10 |
| Star Ratings | ★★★★☆ |
Summary of Satyasai Pressure Vessels IPO
Satyasai Pressure Vessels Limited is engaged in the business of manufacturing of two piece LPG Cylinders with varied capacity ranging from 5 kg to 21 kg and three piece LPG Cylinders with 33 kg to 47.5 kg capacity which are used for household, commercial and Industrial application. The cylinders are manufactured in water capacities ranging from 11.7 to 111 litres and is one of the largest manufacturers of LPG Cylinders in India. Initial public offering of Up to 50,00,000 Equity Shares, aggregating up to Rs. [●] Lakhs.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements
- Their revenue have grown at a CAGR of 12.72% from Rs. 10,376.76 lakhs to Rs. 13,184.59 lakhs in Fiscal 2016 to Fiscal 2018 respectively. Their earnings before interest, tax, depreciation and amortization (“EBITDA”) for the seven months period ended October 31, 2018 and for the Financial years ended March 2018, 2017 and 2016 are Rs. 806.25 lakhs, Rs. 1,602.85 lakhs, Rs. 1,561.51 lakhs and Rs. 1,693.70 lakhs respectively.
- The net asset value per Equity Share was Rs. 45.66 and Rs. 72.04 as of Oct 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements.
- The net worth of the Company as of Oct 30, 2018, is Rs. 611.17 lakhs.
- Their Profit after Tax had been recorded at Rs. 471.25 lakhs, Rs. 833.61 lakhs, Rs. 876.87 lakhs and Rs. 947.31 lakhs for the seven months period ended October 31, 2018 and for the Fiscal 2018, 2017 and 2016 respectively.
The Promoters of this company are Mr. Kishor Kela and Mr. Satya Kela. The lead manager to the issue is Aryaman Financial Services Limited and Galactico Corporate Services Limited and the Registrar to this issue is Karvy Fintech Private Limited.
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Satyasai Pressure Vessels IPO Date
The opening and the closing date of Satyasai Pressure Vessels IPO is not known yet.
Satyasai Pressure Vessels 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.
Satyasai Pressure Vessels IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Satyasai Pressure Vessels IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs X.
Satyasai Pressure Vessels IPO Equity Share Offering
Initial public offering of Up to 50,00,000 Equity Shares, aggregating up to Rs. [●] Lakhs.
Satyasai Pressure Vessels Limited – Company Overview
Satyasai Pressure Vessels Limited is engaged in the business of manufacturing of two piece LPG Cylinders with varied capacity ranging from 5 kg to 21 kg and three piece LPG Cylinders with 33 kg to 47.5 kg capacity which are used for household, commercial and Industrial application. The cylinders are manufactured in water capacities ranging from 11.7 to 111 litres and is one of the largest manufacturers of LPG Cylinders in India.
The Company is a part of Kishore Kela Group of Industries. The Group has been recently re-organized such that all its key manufacturing activities are consolidated into a single corporate Holding Company. The Group consists of 4 units i.e. their Company – Satyasai Pressure Vessels Ltd., 2 wholly owned subsidiaries i.e. Om Fabtech Private Limited (OFPL) and Super Technofab Private Limited (STPL) and 1 subsidiary Company i.e. Sai Cylinders Private Limited (SCPL).
Satyasai Pressure Vessels company also forayed into the business of wind energy and they own a wind mill having an aggregate installed capacity of 2.0 MW. The revenue attributable to wind power generation for the seven months period ending October 31, 2018 and for the financial years ended 2018 and 2017 was Rs. 145.19 lakhs , Rs. 151.47 lakhs and Rs. 11.78 lakhs respectively.
OFPL and STPL:
Their wholly owned Subsidiaries i.e. OFPL and STPL are engaged in manufacturing of two piece LPG cylinders, three piece LPG cylinders and are also engaged in re-conditioning of used LPG cylinders. The manufacturing units of OFPL and STPL are centrally established in Sinnar, Nashik, Maharashtra to cater to North, West and South India..
Key clients are large public sector oil companies such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited. The Group’s other customers include Reliance Petroleum Ltd., SHV Energy Private Limited etc.
Competitive Strengths of Satyasai Pressure Vessels Limited:
- Consistent track record of financial performance
- Experienced Promoters and strong Executive Team
- Wide range of products
- Integrated operations and economies of scale
- Strong Technological Capabilities
- Strategic location of the manufacturing unit
Business strategies of Satyasai Pressure Vessels Limited:
- Reduce our debt level and increase fund based capabilities
- Investment in Sai Cylinders Pvt. Ltd. (SCPL), Om Fabtech Pvt. Ltd. (OFPL) and Super Technofab Pvt. Ltd. (STPL)
- Diversifying the product mix and increasing penetration in markets
- Operation Excellence
- Optimal Utilization of Resources
Satyasai Pressure Vessels 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:-
| Amount (in INR & lakhs) | ||||
| 30-Oct-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 8,356.23 | 8,199.55 | 7,293.19 | 5,069.71 |
| Total Revenue | 8,493.09 | 13,271.62 | 13,474.39 | 10,466.90 |
| Total Expense | 7,878.90 | 12,026.92 | 12,161.67 | 9,025.32 |
| Profit After Tax | 468.24 | 842.19 | 875.46 | 947.86 |
Earnings per Equity Share (in lakhs)
| 30-Oct-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 3.64 | 6.46 | 6.87 | 7.42 |
From the above statements, one could find that the Satyasai Pressure Vessels Limited may perform well.
Satyasai Pressure Vessels IPO – Promoters
The Promoters of this company are:
- Mr. Kishor Kela
- Mr. Satya Kela.
List of Related Parties (Key Managerial Personnel)
- Mr. Adarsh Jaju
- Mr. Suhas Kulkarni
- Mr. Prashant Bhamare
- Mr. Ashok Salve
- Mr. Yogesh Khandbahale
- Ms. Laxmi Jaiswal
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 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.
Satyasai Pressure Vessels IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 50,00,000 Equity Shares, aggregating up to Rs. [●] Lakhs |
| Of which: | |
| Fresh Issue | Up to 35,00,000 Equity Shares, aggregating up to Rs. [●] Lakhs |
| Offer for Sale | Up to 15,00,000 Equity Shares, aggregating up to Rs. [●] Lakhs |
| Reserved for Market Makers | Upto [●] Equity Shares of face value of Rs. 10/- each |
| Net Issue to the Public | Upto [●] Equity Shares of face value of Rs.10/- each |
| Of which: | |
| QIB Portion | Not more than [●] Equity shares |
| Of which | |
| Available for allocation to Mutual Funds only (5% of the QIB portion) (Excluding the Anchor Investor Portion) | [●] Equity Shares of Face Value of Rs. 10/- each |
| Balance for all QIBs including Mutual Funds | [●] Equity Shares of Face Value of Rs. 10/- each |
| Retail Investors Portion | Upto [●] Equity Shares |
| Non-Retail Investors Portion | Upto [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,29,63,600 Equity Shares |
| Equity Shares outstanding after the Issue | 1,64,63,600 Equity Shares of face value of Rs. 10 each |
Satyasai Pressure Vessels 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
Satyasai Pressure Vessels IPO – Basis of the Offer Price
The company determines issue price in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Consistent track record of financial performance
- Experienced Promoters and strong Executive Team
- Wide range of products
- Integrated operations and economies of scale
- Strong Technological Capabilities
- Strategic location of the manufacturing unit
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 7.42 | 30.34 | – |
| 31-Mar-17 | 6.87 | 21.86 | – |
| 31-Mar-18 | 7.88 | 19.60 |
72.04 |
- Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
| Particulars | P/E ratio |
| Highest | 43.5 |
| Average | 41.39 |
| Lowest | 39.28 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Mauria Udyog Limited | 10 | 6.22 | 43.50 | 5.84 | 102.65 |
| 2 | Rajasthan Cylinders and Containers Limited | 10 | (4.75) | -ve | -ve | 88.60 |
| 3 | Confidence Petroleum India Limited | 1 | 1.04 | 39.28 | 9.85 | 10.52 |
| 4 | Satyasai Pressure Vessels Limited | 10 | 7.88 | – | 19.60 | 72.04 |
Satyasai Pressure Vessels IPO Lead Managers
| Lead Managers |
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001 Tel: +91 – 22 – 6216 6999 Email: ipo@afsl.co.in Website: www.afsl.co.in Investor Grievance Email: feedback@afsl.co.in Contact Person: Mr. Deepak Biyani SEBI Registration No.: INM000011344 GALACTICO CORPORATE SERVICES LIMITED |
Satyasai Pressure Vessels IPO Registrar to offer
| Registrar to the Offer |
| Karvy Fintech Private Limited Karvy Selenium, Tower-B, Plot No. 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500 032. Tel: +91 – 40 – 6716 2222 E-mail: sspvl.ipo@karvy.com Investor Grievance E-mail: einward.ris@karvy.com Website: www.karvyfintech.com Contact Person: Mr. M. Murali Krishna SEBI Registration No.: INR000000221 |
Other Details:
- Statutory Auditor – A.S. Bedmutha & Co.
- Peer Review Auditor – A.S. Bedmutha & Co.
Satyasai Pressure Vessels IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Satyasai Pressure Vessels IPO Grey Market Premium
The Satyasai Pressure Vessels 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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Satyasai Pressure Vessels IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
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