SHREESHAY ENGINEERS LIMITED is a real estate construction and engineering focused solutions company. In this article, lets have a detailed analysis of Shreeshay Engineers IPO, company’s objective, Offering, company’s goodwill, financials, allotment status, Shreeshay Engineers IPO grey market pricing, subscription status and management information.
- Issue Price of this IPO is Rs 15. Check the Live Share Price here Shreeshay Engineers Share Price
- To track the performance of this IPO, click on this link – https://top10stockbroker.com/ipo-performance/
Shreeshay Engineers IPO Review & Ratings
|Shreeshay Engineers IPO Ratings & Review|
|Top Brokers Review||6.0/10|
Summary of Shreeshay Engineers IPO
Company is part of the DKP Group which has large presence in the real estate market in and around Mumbai and is into EPC service, i.e. it provide supply of materials, designing and contracting capabilities as well as construction project management services. Company has planned to go for public issue of 36,00,000 shares with face value of Rs. 10 and issue price of Rs. 15. Aggregating to Rs. 540 Lakh for funding their working capital requirement. The lead manager to the issue is ARYAMAN FINANCIAL SERVICES LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
The Promoters of the company are:
- Mr. Bhogin D Patel (Individual Promoter)
- Mr. Kishore D Patel (Individual Promoter)
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Shreeshay Engineers IPO Date
The opening and the closing date is not known yet.
Shreeshay Engineers IPO Subscription
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Shreeshay Engineers 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.
Shreeshay Engineers IPO Price Band
The company has decided Issue price to be Rs. 15 & the face value of each share is Rs 10
Shreeshay Engineers IPO Issue Size
The Issue Size is below Rs 10000 Lakhs and the exact price of the share is not known through the number of equity shares is known.
Shreeshay Engineers IPO Equity Share Offerings
36,00,000 Equity Shares of Rs 10/- each.
Shreeshay Engineers Limited – Company Overview
SHREESHAY ENGINEERS LIMITED is part of the DKP Group which is a real estate & infrastructure focused Mumbai based 3rd generation business group operating since over 8 decades. It is currently promoted by Mr. Bhogin D Patel and Mr. Kishore D Patel. The group has a strong presence in real estate development. The group has been involved in real estate and construction activities since over 3 decades and has developed number of plots and buildings in and around the state of Maharashtra and Gujarat.
Company has developed around 90,000 sq. ft. of built up real estate vide project(s) named “Kailas Jyoti I” and “Kailas Jyoti II” at Ghatkopar, Mumbai.
Company is primarily based on “EPC” stands for “Engineering”, “Procurement” and “Construction”. It provide supply of materials, designing and contracting capabilities as well as construction project management services.
Competitive Strengths of Shreeshay Engineers Limited:
- Experienced promoters and Management Expertise
- Quality projects and committed operations
- Independent Execution capabilities
- Networking strength
Business strategies of Shreeshay Engineers Limited:
- Leveraging Market Skills
- Long Term Relationship with Clients
- Achieving Operational Efficiencies
- Expand Distribution Network & Customer Base
- Brand Building
- Expand the Business in new location
Shreeshay Engineers Ltd – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Assets of the Company
Assets (in INR & Lakhs)
Revenue & PAT of the Company
Revenue and Profit (in lakhs)
Earnings per Equity Share (in Lakh)
From the above statements, one could find that the Shreeshay Engineers Ltd has performed well in the past few years.
Shreeshay Engineers IPO – Promoters
The Promoters of this company are:
Mr. Kishore D Patel – Managing Director
Mr. Bhogin D Patel – Non-Executive Non-Independent
Mrs. Nisha B Patel – Non-Executive Non-Independent
Mr. Jayantilal J Gala – Independent Director
Mr. Harish V Adhia Independent Director
The interest of Promoters in the Promotion of the company
All of the Directors may be deemed to be interested to the extent of fees payable to them for attending meetings of the Board or a committee thereof as well as to the extent of other remuneration and reimbursement of expenses payable to them under the Articles of Association and to the extent of remuneration paid to them for services rendered as an officer or employee of the Company.
The interest of Promoter in the Property of the company
The Directors have no interest in any property acquired or proposed to be acquired by the Company in the preceding two years from the date of this Draft Prospectus nor do they have any interest in any transaction.
The interest of Promoter in the Intellectual Rights of the company
Promoter has not shown any interest in acquiring the intellectual rights of the company.
Shreeshay Engineers IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||36,00,000 Equity Shares of A, Rs 10 each for cash at a price of A, Rs 15 per share aggregating A 540.00 lakhs.|
|Reserved for Market Makers||1,92,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 15 per share aggregating Rs. 28.80 lakhs|
|Net Issue to the Public||34,08,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 15 per share aggregating Rs. 511.20 lakhs|
|Retail Investors Portion||17,04,000 Equity Shares of Rs. 10 each at a price of Rs. 15 per Equity Share|
|Non-Retail Investors Portion||17,04,000 Equity Shares of Rs. 10 each at a price of Rs. 15 per Equity Share|
|Equity Shares outstanding prior to the Issue||96,03,396 Equity Shares|
|Equity Shares outstanding after the Issue||1,32,03,396 Equity Shares|
Shreeshay Engineers IPO Issue Object
These are the IPO Issue Objects of the company
- Capital Expenditure in relation to expansion of manufacturing facility at Mahabubnagar, Dist., Telangana
- Repayment of unsecured loans
- To generate fund for the financial working capital of the company
- To manage the expenses of the issue
These are the main reasons why the IPO is being floated by the company.
Shreeshay Engineers 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. The face value of each share is Rs 10 and the issue price of the IPO is Rs 15.
Qualitative factors are:
Some of the qualitative factors, which form the basis for computing the price are:
1) Educated and experienced Project Management Team
2) Well Experienced Promoters
3) Group Synergies
4) Debt free well capitalized Balance sheet
The relevant quantitative factors are:
- Basic and Diluted Earnings per Share (EPS) for the nine months ended December 31, 2017 was 5.22.
Price to Earnings (P/E) ratio
|Particular||PE at Issue Price|
|P/E ratio based on Basic and Diluted EPS as at March 31, 2017||8.38|
|P/E ratio based weighted average EPS||13.04|
|Highest –Shristi Infrastructure Development Corporation Limited||216.30|
|Lowest – C & C Constructions Limited||2.60|
- Return on Net Worth
|Period||Return on net worth||Weight|
|Year ended March 31, 2017||11.90%||3|
|Year ended March 31, 2016||3.84%||2|
|Year ended March 31, 2015||4.00%||1|
|As On 31 Oct 2017||1.07%|
- Minimum Return on Net Worth (RoNW) after Issue needed to maintain the Pre-Issue Basic & diluted EPS for the FY 2017-18 (based on Restated Financials) at the Issue Price of 15 is 11.81 %.
- Net Asset Value per Equity Share
|As on March 31, 2017||27.00|
|As on 31-Nov-2017(Not Annualized)||14.93|
|NAV after the Issue||15.12|
- Comparison of Accounting Ratios with Peer Group Companies
|Sr. No.||Particulars||Face Value (in Rs.)||EPS (In Rs.)||P/E Ratio||RONW (%)||NAV (In Rs.)|
|1||Capacit’e Infraprojects Limited||10||17.22||23.15||23.15||74.36|
|2||JMC Projects (India) Limited||10||17.68||20.73||8.58||205.39|
|3||Simplex Infrastructures Limited||2||24.31||20.19||7.32||309.32|
|4||SHREESHAY ENGINEERS LIMITED||10||1.79||8.38||11.9||27|
Shreeshay Engineers IPO Lead Managers
|Aryaman Financial Services Limited.|
Shreeshay Engineers IPO Registrar to offer
|Registrar to the Offer|
|Bigshare Services Private Limited|
Shreeshay Engineers IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promters Reputation|
The ratings would be updated once the financials and the other details of the IPO are released.
Shreeshay Engineers IPO Grey Market Premium
The Shreeshay Engineers 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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|Asset Class||ROI (Rs.)||Profit (Rs.)||Profit (%)|
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Shreeshay Engineers IPO News
News 1 – IPO ISSUES OPEN SOON
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