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

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SK International Export IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.6/10
Company Background7.3/10
Company Reputation7.5/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index7.5/10
Promoters Reputation7.7/10
Retail Appetite7.8/10
Top Brokers Review7.9/10
Overall Ratings7.7/10
Star Ratings★★★★☆

Summary of SK International Export IPO

SK International Export IPOThey were established in the year 1991 as a partnership firm in international exports of scarves and beachwear. The Company is a manufacturer and exporter in Scarves and Beachwear based in Mumbai, India.

This company has created a distinct identity of its own in the International business domain and mainly caters to European market i.e. Spain, Germany, France, Netherlands, UK and started selling in US market since 2018 onwards and also entered into the domestic market.

The Company is engaged in manufacturing and marketing of women and men’s apparels like scarves, shawls, sarongs, headband & bandanas and Beachwear garments in all qualities like silk, viscose, cotton, polyester & wool and several blends.

From year 2018, the Company entered into manufacturing for several Retail brands in the domestic market by creating new designs as per local market for its main core product scarves.

They also entered in the ethnic wear category by developing trendy duppatas at affordable prices catering women who look for fashionable styles at affordable prices.

From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements

Over the course of 3 years their total Revenue was Rs. 888.28 Lakhs in 2016, Rs. 805.87 Lakhs in 2017, Rs. 844.24 Lakhs in 2018. PAT is Rs. 14.61 Lakhs in 2016, Rs.48.31 Lakhs in 2017, Rs. 237.32 Lakhs in 2018.

For the period ended September 12, 2018 and fiscal years ended 2017-18, 2016-17, 2015-16, our trade receivables were, Rs. 158.12 Lakhs, Rs. 11.42 Lakhs, Rs. 57.29 Lakhs and Rs. 62.75 Lakhs, respectively, which is equivalent to 37.44%, 1.35%, 7.11% and 7.06% respectively of our total revenues for the same periods respectively as per restated standalone financial statements.

The Promoters of this company are Mr. Shrawankumar Sadh and Mr. Hitesh Shrawankumar Sadh. The lead manager to the issue is Finshore Management Services Limited and the Registrar to this issue is Karvy Fintech Private Limited.


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    SK International Export IPO Date

    The opening and the closing date of SK International Export IPO is 28 June – 5 July 2019.


    SK International Export IPO Subscription

    Day / DateNIIRIITotal Subscription
    1st Day – Jun 280.03x0.04x0.03x
    2nd Day – Jul 10.13x0.07x0.10x
    3rd Day – Jul 20.15x0.07x0.11x
    4th Day – Jul 3
    5th Day – Jul 4
    Shares Offered or Net Issue939,000939,0001,878,000

    The shares subscribed by the public will be updated here.


    SK International Export IPO Allotment Status

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


    SK International Export IPO Price Band

    The face value of each share is Rs 10, but the price band of the IPO is Rs 20. 


    SK International Export IPO Equity Share Offering

    Issue of 19,80,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. 20 per Equity Share (including a share premium of Rs. 10 per Equity share) aggregating Rs. 396 lakhs.


    SK International Export Limited – Company Overview

    The Company was originally formed as a partnership firm in the name and style of M/s S.K. International (Export) Company, having the principal place of business at 41, 2nd Sutar Gally, Bombay – 400 004 on the terms and conditions contained in the Partnership Deed executed on November 1 st, 1991.

    The partnership firm was duly registered on February 15, 1992 under the provisions of Indian Partnership Act, 1932 with Registrar of Firms at Bombay (Maharashtra) vide Registration No. BA :-52446.

    M/s. S.K. International Export Company was thereafter converted from a partnership firm to a public limited company under the Part I of Chapter XXI of the Companies Act, 2013 under the name of SK International Export and received a certificate of incorporation from the Registrar of Companies, Mumbai on September 13, 2018 bearing registration no. 314141.

    The corporate identity number of the Company is U18109MH2018PLC314141. All the partners of M/s. S.K. International Export Company were initial subscribers to Memorandum of Association of our Company.

    Business strategies of SK International Export

    • Expanding Our Clientele Network by Geographic expansion
    • Reduction of operational costs and achieving efficiency
    • Focus on cordial relationship
    • Creativity and trending designer idea
    • Entering new business lines
    • Introduction of more brand
    • To follow inorganic growth opportunities

    SK International Export – 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 of SK International Export IPO

    On the basis of Standalone statement:-

    Amount (in INR & lakhs)  
    12-Sept-18
    31-Mar-1831-Mar-1731-Mar-16
    Total Assets646.13614.99442.58444.50
    Total Revenue459.141,122.49940.00936.83
    Total Expense428.06889.69891.62922.69
    Profit After Tax31.62237.3248.3114.61

    Earnings per Equity Share (in lakhs)

    12-Sept-1831-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted0.594.430.900.27

    From the above statements, one could find that the SK International Export Limited may perform well.


    SK International Export IPO – Promoters

    The Promoter of this company is:

    • Mr. Shrawankumar Sadh
    • Mr. Hitesh Shrawankumar Sadh

    List of Related Parties (Key Managerial Personnel)

    • Mr. Hitesh Shrawankumar Sadh- Managing Director
    • Mrs. Purti Hitesh Sadh- Director
    • Mr. Bhavin Prabhashankar Mehta- Additional Director
    • Mr. Akshar Jagdish Patel- Additional Director
    • Mr. Jay Narayan Naik- Additional Director

    Interest in promotion of the Company

    The Promoter is interested in the Company to the extent they have promoted the Company.

    Property Interest

    Except for leave and licence agreement for the corporate office and factory premises as mentioned, they have not entered into any contract, agreements or arrangements during the preceding three years from the date of this Prospectus in which the Promoters were directly or indirectly interested and no payments have been made to them in respect of the contracts, agreements or arrangements which are proposed to be made with them including the properties acquired by the Company.

    Interest in Intellectual Rights of the Company

    They are unable to assure that the future viability or value of any of their intellectual property or that the steps taken by them to protect the proprietary rights of the Company will be adequate.


    SK International Export IPO Offer Details or Issue Details

    Particulars No. Of Equity Shares
     Equity Shares Offered Upto 19,80,000 Equity Shares of Rs10 each for cash at a price of Rs20 per share aggregating Rs396 lakhs.
     Of which:
     Reserved for Market Makers Upto 1,02,000 Equity Shares of Rs10 each for cash at a
    price of Rs20 per share aggregating Rs20.40 lakhs
     Net Issue to the Public Upto 18,78,000Equity Shares of Rs10 each for cash at a price of Rs20 per share aggregating Rs375.60 lakhs
     Of which:
     Retail Investors Portion Upto 9,42,000 Equity Shares of Rs 10 each at a price of Rs 20 per Equity Share will be available for allocation for Investors of up to Rs188.40 lakhs
     Non-Retail Investors PortionUpto 9,36,000 Equity Shares of Rs10 each at a price of  Rs 20 per Equity Share will be available for allocation for Investors of up to Rs187.20 lakhs
     Equity Shares outstanding prior to the Issue53,51,954 Equity Shares
     Equity Shares outstanding after the IssueUpto 73,31,954 Equity Shares

    SK International Export IPO Issue Object

    These are the IPO Issue Objects of the company

    • To meet the working capital requirements of the company General Corporate Purposes
    • To meet the Issue Expenses

    SK International Export 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:

    • Established and proven track record;
    • Leveraging the experience of our Promoters;
    • Experienced management team and a motivated and efficient work force;
    • Cordial relations with our customers
    • Quality Assurance and Control

    The relevant quantitative factors are:

    On the basis of standalone statement:-

    Basic & Diluted EPSRONW NAV (Rs.)
    12-Sept-180.595.85%10
    31-Mar-184.5945.92%10
    31-Mar-171.5315.28%
    31-Mar-160.727.19%
    • Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:
    ParticularsP/E ratio
    Highest125.6
    Average65.45
    Lowest5.3
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.) EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1SK International Export100.5933.905.85%10.10
    2Kewal Kiran Clothing Limited1059.419.0018.9%352.7
    3Jindal Worldwide Limited102.835.319.2%16.9

    SK International Export IPO Lead Managers

    Lead Managers
    Finshore Management Services Limited
    Anandlok, Block – A, 2nd Floor, Room No.207
    227, A.J.C. Bose Road, Kolkata – 700 020, West Bengal, India
    Tel. No.: +91 33-22895101/9920379029
    Fax No.: +91 33-22895101
    SEBI Registration No: INM000012185
    Email:info@finshoregroup.com
    Website: www.finshoregroup.com
    Contact Person: Mr. S. Ramakrishna Iyengar

    SK International Export IPO Registrar to offer

    Registrar to the Offer
    Karvy Fintech Private Limited
    Karvy Selenium Tower-B, Plot 31 & 32, Gachibowli,
    Financial District, Nanakramguda, Serilingampally,
    Hyderabad – 500 032, Telangana, Hyderabad
    Tel.: +91 40 6716 2222
    Fax: +91 40 2343 1551
    Email: einward.ris@karvy.com
    Investor Grievance Email: skinternational.ipo@karvy.com
    Website: https://karisma.karvy.com
    SEBI Registration No.: INR000000221
    Contact Person: Mr. RsMurali Krishna

    SK International Export IPO Other Details:

    • Statutory Auditor – A Biyani & Co., Chartered Accountants
    • Peer Review Auditor – A Biyani & Co., Chartered Accountants
    • Bankers to the Company – RBL Bank Limited

    SK International Export 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

    SK International Export IPO Grey Market Premium

    The SK International Export 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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