Sure Safety India Limited IPO – Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Sure Safety (India) Limited is a Professional organization which started with Trading of PPEs way back in the year 2003 and groomed itself as a manufacturing firm within 4-5 years of its inception. Sure Safety India Limited IPO comprises of 18,16,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Sure Safety India Limited IPO release date, IPO offer price, subscription, Sure Safety India Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Sure Safety India Limited IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Sure Safety (India) Limited IPO
Sure Safety (India) Limited is a Professional organization which started with Trading of PPEs way back in the year 2003 and groomed itself as a manufacturing firm within 4-5 years of its inception. Moving ahead it grew further from the state of the art manufacturing into other Industrial Services and established itself in the field of Safety Services, Environmental Monitoring, Safety Audits and the like.
The Business lines matured and differentiation was done to make business more worthy of the in house potential SSIL had within itself and with the hazard management opportunity coming its way it moved robustly adding another feather in its cap as SSIL ventured into the Contract for Safe Removal and Disposal of Asbestos from ships coming for ship-breaking at Alang ship-yard, Bhavnagar, Gujarat.The Issue comprises of a Public Issue of 18,16,000Equity shares of face value of Rs.10.00 each fully paid up.
From FY 2014-15 to FY 2017-2018, as per the Restated Financial Statements,
For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.524,184,195 Lakhs, Rs. 411,319,129 Lakhs and Rs.333,234,685 Lakhs, respectively representing growth of 23.40% from the FY 2017-16 to FY 2016-15. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs.34,101,092 Lakhs, Rs. 12,606,734 Lakhs and Rs.18,312,510 Lakhs, respectively representing growth of 170.49% from the FY 2018-17 to FY 2017-16.
- During the financial year 2017-18 the Other Income of our company increased to Rs.4,997,593 Lakhs as against Rs. 3,283,975 Lakhs for the financial year 2016-17 .
- Company’s Net Profit after tax for the year 2016-17 is Rs. 25,201,994 Lakhs from the year 2015-16 of Rs.11,166,875 Lakhs showing an increase of 125.68% from last year, showing remarkable performance.
The Promoter of this company is Mr. Nishith Anand Dand and Mrs. Anuprita Nishith Dand. The lead manager to the issue is Monarch Networth Capital Limited and the Registrar to this issue is Bigshare Services Private Limited .
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Sure Safety India Limited IPO Date
The opening and the closing date of Sure Safety India Limited IPO is not known yet.
Sure Safety (India) Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
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Sure Safety India Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Sure Safety India Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Sure Safety India Limited IPO Equity Share Offering
[●] Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .
Sure Safety (India) Limited – Company Overview
Sure Safety (India) Limited is a Professional organization which started with Trading of PPEs way back in the year 2003 and groomed itself as a manufacturing firm within 4-5 years of its inception. Moving ahead it grew further from the state of the art manufacturing into other Industrial Services and established itself in the field of Safety Services, Environmental Monitoring, Safety Audits and the like.
The Business lines matured and differentiation was done to make business more worthy of the in house potential SSIL had within itself and with the hazard management opportunity coming its way it moved robustly adding another feather in its cap as SSIL ventured into the Contract for Safe Removal and Disposal of Asbestos from ships coming for ship-breaking at Alang ship-yard, Bhavnagar, Gujarat
SSIL is the only Integrated Safety Company customizing solutions in the field of Industrial Hygiene, Training, Fire Fighting, Working @ Heights etc. to name a few challenges faced by the Industry at large. The endeavor is complimented with The State–of–the-Art manufacturing facilities at Vadodara, Gujarat and their Service offices and Distribution network at mostly all Industrial clusters in the country. Their Brand Saviour‘ is well accepted for its world class quality which covers all their manufacturing range of Helmets, Respiratory Systems, Body Protection garments besides the normal Eye, Ear and other protective PPEs and solution basket for the Industry.
The Company is promoted by Mr. Nishith Anand Dand and Mrs. Anuprita Nishith Dand. They are the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Sure Safety (India) Limited :
- Innovative Products & Services
- International Quality with competitive rates
- Customized Solutions
- Faster deliveries
- Better response
- Field demonstrations
- Dealer & Service Network across the country at all Industrial Hubs.
Business strategies of Sure Safety (India) Limited:
- International Marketing
- One Stop Solutions
- Channel Partners
- Effective Supply Chain Integration
- Unlocking Potential
- CSR-Corporate Social Responsibility
- Industrial Hygiene, Hazard Management & International Training
Sure Safety (India) 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 ) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 376,969,427 | 279,478,637 | 248,889,863 | 198,335,905 | 189,143,359 |
| Total Revenue | 467,774,130 | 379,280,524 | 366,766,083 | 259,842,727 | 244,932,239 |
| Total Expense | 433,673,037 | 366,673,790 | 348,453,573 | 248,642,703 | 233,791,108 |
| Profit After Tax | 25,201,994 | 11,166,875 | 11,408,667 | 9,182,498 | 5,004,985 |
Earnings per Equity Share
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 8.40 | 0.37 | 3.80 |
From the above statements, one could find that the Sure Safety (India) Limited may perform well.
Sure Safety (India) Limited IPO – Promoters
The Promoter of this company are:
- Mr. Nishith Anand Dand
- Mrs. Anuprita Nishith Dand
List of Related Parties (Key Managerial Personnel)
- Mr. Nishith Anand Dand
- Mr. Mayank Parekh
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.
Sure Safety India Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 18,16,000 Equity Shares of Face Value of Rs. 10/- each for Cash at a Price of Rs. 80/- Per Equity Share (Including a Share Premium of Rs. 70/- per Equity Share) aggregating to Rs. 1452.80 lakhs |
| Of which: | |
| Reserved for Market Makers | 91,200 Equity Shares of Rs.10/- each for cash at a price of Rs. 80/- per share aggregating Rs. 7296.00 Lakhs |
| Net Issue to the Public | 17,24,800 Equity Shares of Rs.10/- each for cash at a price of Rs.80/- per share aggregating Rs. 1379.84 lakhs |
| Of which: | |
| Retail Investors Portion | 8,62,400 Equity Shares of Rs.10/- each for cash at a price of Rs. 80/- per share ( including a premium of Rs. 70/- per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs. 7091.20 Lakhs |
| Non-Retail Investors Portion | 8,62,400 Equity Shares of Rs.10/- each for cash at a price of Rs. 80/- per share ( including a premium of Rs. 70/- per Equity Share) will be available for allocation for allotment to Other Investors of above Rs. 7091.20 Lacs |
| Equity Shares outstanding prior to the Issue | 50,30,000 Equity Shares of face value of Rs.10/- each |
| Equity Shares outstanding after the Issue | 68,46,000 Equity Shares of face value of Rs.10/- each |
Sure Safety India Limited IPO Issue Object
These are the IPO Issue Objects of the company-
- Purchase of Machinery, Moulds & Tools, Research & Development;
- Distribution, Packing & Testing Centre;
- Working Capital Requirement;
- General Corporate Purpose;
- Issue Expense
Sure Safety India 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 and Management Expertise;
- Adequate Research and Development Capabilities
- Innovative Product and Services
- Quality Products
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 8.40 | 27 | 31.22 |
| 31-Mar-17 | 3.72 | 16.31 | 22.82 |
| 31-Mar-18 | 3.80 | 20 | 19.10 |
Sure Safety India Limited IPO Lead Managers
| Lead Managers |
| MONARCH NETWORTH CAPITAL LIMITED, Address – Monarch House, Opp., Ishwar Bhuvan, Commerce Six Road, Navrangpura, Ahmedabad – 380014. Tel. No. – 079 – 6600 0500/ 700 Website: https://www.mnclgroup.com Email: anshit.acharya@mnclgroup.com Investor Grievance Email: mbd@mnclgroup.com Contact Person: Mr. Anshit Acharya /Mr. Jigar Chandarana SEBI Regn. No. MB/ INM000011013 |
Sure Safety India Limited IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED, Address – E-2/3, Ansa Industrial Estate, Sakivihar Road, Saki Naka, Andheri (E), Mumbai- 400072. India. Tel. No. – +91-022- 6263 8200 Website: www.bigshareonline.com Email: ipo@bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Contact Person: Mr. Prem Kumar SEBI Regn. No. INR000000221 |
Other Details:
- Statutory Auditor – M/s Prakash Chandra Jain & Co. Chartered Accountant
- Peer Review Auditor – M/s Prakash Chandra Jain & Co. Chartered Accountant
- Bankers to the Company – Axis Bank Limited
Sure Safety India Limited 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 |
Sure Safety India Limited IPO Grey Market Premium
The Sure Safety India Limited 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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