Shreeshay Engineers IPO – Review, Allotment Status, Subscription, Price, Date & more

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.

 


Shreeshay Engineers IPO Review & Ratings

Shreeshay Engineers IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.1/10
Industry Ranking 6.3/10
Company Background6.5/10
Company Reputation6.2/10
Competitive Edge6.3/10
Financial Statements6.4/10
Popularity Index6.5/10
Promoters Reputation6.5/10
Retail Appetite 6.7/10
Top Brokers Review6.0/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Shreeshay Engineers IPO

Shreeshay Engineers IPOCompany 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:

  1. Mr. Bhogin D Patel (Individual Promoter)
  2. 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

     Subscription
    Day 1X
    Day 2 X
    Day 3X
    Day 4 X
    Day 5 X

    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)

     31-Oct-1731-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
    Non-Current68.1945.429.069.569.7516.96
    Current Assets1,417.6195.04119.3115.29114.65120.45
    Total Assets1,485.80140.46128.36124.85124.4137.41

    Revenue & PAT of the Company

       Revenue and Profit (in lakhs)

     31-Oct-1731-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
    Revenue 28.9622.179.910.1910.789.79
    PAT15.3515.584.434.44-4.54-3.83

    Earnings per Equity Share (in Lakh)

     31-Oct-1731-Mar-1731-Mar-1631-Mar-15
    Basic 0.721.790.510.51
    Diluted 0.721.790.510.51

    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 Offered36,00,000 Equity Shares of A, Rs 10 each for cash at a price of A, Rs 15 per share aggregating A 540.00 lakhs.
     Of which:
     Reserved for Market Makers1,92,000 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 Public34,08,000 Equity Shares of Rs. 10 each for cash at a price of Rs. 15 per share aggregating Rs. 511.20 lakhs
     Of which:
     Retail Investors Portion17,04,000 Equity Shares of Rs. 10 each at a price of Rs. 15 per Equity Share
     Non-Retail Investors Portion17,04,000 Equity Shares of Rs. 10 each at a price of Rs. 15 per Equity Share
     Equity Shares outstanding prior to the Issue96,03,396 Equity Shares
     Equity Shares outstanding after the Issue1,32,03,396 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

    ParticularPE at Issue Price
    P/E ratio based on Basic and Diluted EPS as at March 31, 20178.38
    P/E ratio based weighted average EPS13.04
    INDUSTRY PE
    Highest –Shristi Infrastructure Development Corporation Limited216.30
    Lowest – C & C Constructions Limited2.60
    Average61.60

     

    •  Return on Net Worth
    PeriodReturn on net worthWeight
    Year ended March 31, 201711.90%3
    Year ended March 31, 20163.84%2
    Year ended March 31, 20154.00%1
    Weighted Average7.90%
    As On 31 Oct 20171.07%

     

    • 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
    ParticularsNAV
    As on March 31, 201727.00
    As on 31-Nov-2017(Not Annualized)14.93
    NAV after the Issue15.12
    Issue Price15.00

     

    • Comparison of Accounting Ratios with Peer Group Companies
    Sr. No.ParticularsFace Value  (in Rs.)EPS (In Rs.)P/E RatioRONW (%)NAV (In Rs.)
    1Capacit’e Infraprojects Limited1017.2223.1523.1574.36
    2JMC Projects (India) Limited1017.6820.738.58205.39
    3Simplex Infrastructures Limited224.3120.197.32309.32
    4SHREESHAY ENGINEERS LIMITED101.798.3811.927

     


     

    Shreeshay Engineers IPO Lead Managers

    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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
    Angel Broking6.4/106.6/106.0/106.4/106.0/10
    Sharekhan6.2/106.1/106.6/106.1/106.2/10
    Kotak Securities6.3/106.2/106.3/106.4/106.3/10
    ICICI Direct6.3/106.3/106.7/106.1/106.1/10
    IIFL6.2/106.2/106.8/106.0/106.1/10
    Edelweiss6.2/106.3/106.3/106.3/106.2/10
    Zerodha6.3/106.4/106.3/106.3/106.0/10
    5Paisa6.1/106.4/106.3/106.1/106.1/10
    Karvy6.3/106.3/106.2/106.1/106.0/10
    Motilal Oswal6.3/106.4/106.3/106.5/106.4/10

    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 ClassROI (Rs.)Profit (Rs.)Profit (%)
    IPO
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    Real Estate
    Gold
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      Shreeshay Engineers IPO News

      News 1 – IPO ISSUES OPEN SOON


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