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

Sumicot Limited Technologies is one of the leading manufacturers and marketers of cotton yarn and cotton knitted fabrics. incorporated in 2010, the company has shown a tremendous growth and development after spreading its services around the world. The Company has issued 57,80,000 Equity shares of Rs.10 each. Let’s have a detailed review of the company and analytics of the Sumicot Limited IPO release date, IPO offer price, subscription, Sumicot Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Sumicot Limited IPO Review & Ratings

Sumicot Limited IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 6.2/10
Promoters Reputation 6.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.3/10
Overall Ratings  6.3/10
Star Ratings ★★★☆☆

Summary of Sumicot Limited  IPO

Sumicot Limited IPOSumicot Limited is a part of the specialty textile industry which is one of the oldest industries in the Indian economy dating back several centuries. Even today Textiles sectors is one of the largest contributors to India’s export with approximately 13 percent of total export. The Issue comprises of a Public Issue of 57, 80,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price of _______ (including a premium of Rs._____ per Equity Share) aggregating to Rs.____

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 72.94% and 641.74%, respectively.

For the period ended December 31, 2017, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.14784.40 Lakhs, Rs.10,547.62 Lakhs and Rs.6,753.56 Lakhs, respectively representing growth of 641.74% from the FY 2015-16 to FY 2016-17. For the period ended December 31, 2017, FY 2016-17 and FY 2015-16 our net profit was Rs.774.13 Lakhs, Rs.595.99 Lakhs and Rs.80.35 Lakhs, respectively, representing a growth of 72.94% from the FY 2015-16 to FY 2016-17.

  • During the financial year 2016-17 the Other Income of the company increased to Rs. 16.82 Lakhs as against Rs. 15.44 Lakhs for the financial year 2015-16, representing increase by 814.91% due to increase in interest income & insurance claim in FY 2016- 17.
  • Company’s Net Profit before tax for the year 2016-17 is Rs. 484.16 Lacs from the year 2015-16 of Rs. 3.26 Lacs showing  remarkable performance.

The Promoter of this company is Mr. Rakesh Somani, and Mr. Rajkumar Somani, Akashganga Processors Private Limited, Betex India limited and Rangeela Fabrics Private Limited. The lead manager to the issue is PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.


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Sumicot Limited IPO Date

The opening and the closing date of IPO of Sumicot Limited is not known yet.


Sumicot Limited IPO Subscription

  Subscription
Day 1 X
Day 2  X
Day 3 X
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.


Sumicot Limited IPO Allotment Status

The Issue is being made through the Fixed Price Process wherein up to _____ Equity Shares shall be reserved for Market Maker upto _____ Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.


Sumicot Limited IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Sumicot Limited IPO Equity Share Offering

57,80,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs (57,80,000* Issue Price).


Sumicot Limited – Company Overview

Sumicot Limited was incorporated as Sumeet Poly Power Limited at Surat Gujarat as a public limited company under the provisions of Company’s Act, 1956 wide certification of incorporation dated November 25, 2010. the company is engaged in the manufacturing and marketing of cotton yarn and cotton knitted fabrics.  the company is engaged in this business since three decades and is listed in both National stock Exchange and Bombay Stock Exchange with an annual revenue of 14 crore.

The Company is promoted by Rakesh Somani and Rajkumar Somani, who has over a decade of experience in the textile industry. they  are the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Sumicot Limited:

  • Experienced Promoters
  • Government Incentives
  • Premium Segment
  • Location Advantage
  • Customer Oriented Approach
  • Strong Clientale
  • Surplus Land available

Business strategies of Sumicot Limited:

  • Geographical Expansion
  • Brand Image Creation
  • Reduce Manufacturing Cost
  • Technology Upgradation
  • Capacity Expasions

Sumicot 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-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 17895.98 10680.22 10136.27 612.91 1674.98
Total Revenue 1,0547.62 6753.76 3863.99 3.83 5.40
Total Expense 10063.64 6637.48 3779.41 2.84 1.26
Profit before Tax 484.16 116.28 84.58 .99 4.14

 

From the above statements, one could find that the Sumicot Limited may perform well.


Sumicot Limited IPO – Promoters

The Promoter of this company are:

  1. Mr. Rakesh Somani and
  2. Mr. Rajkumar Somani,
  3. Akashganga Processors Private Limited,
  4. Betex India limited
  5. Rangeela Fabrics Private Limited.

List of Related Parties (Key Managerial Personnel)

  • Someet Somani
  • Sandhaya Jain

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. 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 be able to 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.


Sumicot Limited IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 57,80,000 Equity Shares of Rs 10/- each at an Issue Price (yet to be disclosed).
 Of which:
 Reserved for Market Makers ______ Equity Shares of Rs 10/- each at an issue price.
 Net Issue to the Public ________ Equity Shares of Rs 10/- each at an issue price.
 Of which:
 Retail Investors Portion ______ Equity Shares of Rs 10/- each at an Issue Price
 Non-Retail Investors Portion _______Equity Shares of Rs 10/- each at an Issue Price.
 Equity Shares outstanding prior to the Issue 86,70,000 Equity Shares of Rs 10/- each
 Equity Shares outstanding after the Issue 1,44,50,000 Equity Shares of Rs 10/- each

Sumicot Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding of working capital requirements of the Company
  • General Corporate Purpose
  • repayment or pre-payment of certain unsecured loans available by the company
  • Issue Expenses

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Sumicot 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
    • benefit of certain government incentives
    • manufacturing of premium yarn
    • location advantage
    • customer oriented approach
    • strong clientale
    • large land reserves

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-15 5.32 9.92 NA
31-Mar-16 1.22 2.23 NA
31-Mar-17 7.46 12.23 NA
  • Industry P/E Ratio:
Particulars P/E ratio
Average NA
Highest NA
Lowest NA
  • Competitive Peers

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Sumicot Limited IPO Lead Managers

Lead Managers
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED

406-408, Keshav Premises, Behind Family Court Makwana Road,

Marol, Andheri East, Mumbai Tel : 022 62638200

Email:

Contact Person: Babu Raphel Website: www.bigshareonline.com

Sumicot Limited IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
Makwana Road, Marol, Andheri East, Mumbai – 400059
Tel No.: 022-62638200, Fax No.: 022-62638299;
Website: www.bigshareonline.com, Email: ;
Contact Person: Srinivas Dornala
SEBI Registration No.: INR000001385


Other Details:

  • Statutory Auditor – M/s B Chordia & Company Chartered Accountant.
  • Peer Review Auditor – B Chordia & Company Chartered Accountants
  • Bankers to the Company –  NA

Sumicot Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

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


Sumicot Limited IPO Grey Market Premium

The Sumicot 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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Sumicot Limited IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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