Texaco Synthetics IPO – Review, Allotment, Subscription, GMP & DRHP

Texaco Synthetics Limited engaged in the business of Textile Manufacturing, Trading and Exports. The Company is engaged in the manufacture and export of grey fabrics and finished fabrics for suiting and shirting. Texaco Synthetics IPO comprises of 41,50,000 Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Texaco Synthetics IPO release date, IPO offer price, subscription, Texaco Synthetics 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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Texaco Synthetics IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Texaco Synthetics IPO

Texaco Synthetics IPOTexaco Synthetics Limited engaged in the business of Textile Manufacturing, Trading and Exports. The Company is engaged in the manufacture and export of grey fabrics and finished fabrics for suiting and shirting. The Issue comprises of upto 41,50,000 equity shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. [●]/- per equity share aggregating Rs.[●] lakhs

From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,

  • The revenues have increased from INR 3,495.33 lakhs in F.Y. 2014–15, INR 5,267.26 lakhs in F.Y. 2015–16, INR 4,701.08 lakhs in F.Y. 2016–17 and to INR 5,400.92 lakhs in F.Y. 2017–18, reflecting a CAGR of 15.61%.
  • During the financial year 2017-18 the Other Income of the company increased to Rs. 23.77 Lakhs as against Rs. 5.75 Lakhs for the financial year 2015-16, representing increase by 313.39 % due to increase in interest income & insurance claim in FY 2017- 18.
  • Net Profit after tax for the above – mentioned periods are INR 48.73 lakhs, INR 38.14 lakhs, INR 68.50 lakhs and INR 145.33 lakhs, respectively, showing a growth at a CAGR of 43.94%..

The Promoter of this company is Mr. Pradeepkumar Shreekrishna Agrawal And Mrs. Rukmani Pradeepkumar Agarwal. The lead manager to the issue is Holani Consultants Private Limited and the Registrar to this issue is Link Intime India Private Limited.


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    Texaco Synthetics IPO Date

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


    Texaco Synthetics IPO Subscription

    Day / DateQIBNIIRIITotal Subscription
    Day 1 
    Day 2
    Day 3
    Day 4
    Day 5
    Shares Offered or Net Issue

    The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


    Texaco Synthetics IPO Allotment Status

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


    Texaco Synthetics IPO Price Band

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


    Texaco Synthetics IPO Equity Share Offering

    Upto 41,50,000 equity shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. [●]/- per equity share aggregating Rs.[●] lakhs


    Texaco Synthetics Limited – Company Overview

    Texaco Synthetics Limited was originally incorporated on December 9th, 1988 as a Private Limited Company under the name and style of Texaco Synthetics Private Limited. Subsequently, the company was converted into the Public Limited Company on May 23rd, 2018 vide special resolution passed by the shareholders at the EGM held on May 5th, 2018 and the name of the company was converted to Texaco Synthetics Limited.

    Texaco Synthetics Limited engaged in the business of Textile Manufacturing, Trading and Exports. The Company is engaged in the manufacture and export of grey fabrics and finished fabrics for suiting and shirting. They have obtained a certificate of Importer Exporter Code (IEC) from Ministry of Commerce and Industry, Government of India vide IEC number 0899010555. Further, they have obtained a registration as a Manufacturer Exporter with The Synthetic and Rayon textiles export promotion council.

    Production facilities include latest and upgraded technology plant and machinery for the manufacture of fabric. Currently, they have deployed Airjet, Rapier and Projectile Looms in the production facilities which are globally used in the textile manufacturing industry. They manufacture diverse varieties of fabrics ranging from Cotton, Cotton – Polyster, Cotton – Modal, Cotton – Tensil, Polyester Viscose and Terry Rayon Suitings.

    The Company is promoted by Mr. Pradeepkumar Shreekrishna Agrawal And Mrs. Rukmani Pradeepkumar Agarwal and is the guiding force behind the growth and strategic decisions of the Company.

    Competitive Strengths of Texaco Synthetics Limited:

    • Highly experienced management and operational team with industry expertise.
    • Focus on quality and constant innovation.
    • Wide variety of the products.
    • Existing relationship with the clients and suppliers.
    • Cost Leadership and time bound execution of the orders.
    • Well established manufacturing facilities with latest technology

    Business strategies of Texaco Synthetics Limited:

    • Brand image.
    • Invest in infrastructure and technology.
    • Enhancing existing products base and product quality.
    • Leveraging their Marketing skills and Relationship
    • Improving functional efficiency
    • Enhance customer base by entering new geographies.

    Texaco Synthetics 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-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Total Assets3965.663,337.21 3,368.45 2,853.702,012.79
    Total Revenue5,400.92 4,701.085,267.263,495.333,128.16
    Total Expense5176.194,615.62 5,201.013,436.953,102.12
    Profit After Tax145.3368.538.1448.73(4.59)

    Earnings per Equity Share (in Lakhs)

    31-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted1.50.710.39

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


    Texaco Synthetics IPO – Promoters

    The Promoters of this company are:

    • Mr. Pradeepkumar Shreekrishna Agrawal
    • Mrs. Rukmani Pradeepkumar Agarwal

    List of Related Parties (Key Managerial Personnel)

    • Chinmay Pradeepkumar Agrawal
    • Alpeshkumar Jayantilal Shah
    • Kuldipkumar Ganeshshankar Dubey
    • Apoorva Agarwal
    • Pradeepkumar Shreekrishna Agrawal

    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.


    Texaco Synthetics IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered Upto 41,50,000 equity shares of face value of Rs.
    10/- each fully paid up of the Company for cash at price of Rs. [●]/- per equity share aggregating Rs.[●] lakhs
     Of which:
     Reserved for Market Makers Upto 2,10,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] /- per Equity Share aggregating Rs. [●] lakhs.
     Net Issue to the Public Upto 39,40,000 Equity Shares of face value of Rs.10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] lakhs.
     Of which:
     Retail Investors Portion 19,70,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/- per Equity share aggregating Rs. [●] Lakhs will be available for allocation to Investors up to Rs. 2.00 Lakhs
     Non-Retail Investors Portion19,70,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 Lakhs
     Equity Shares outstanding prior to the Issue96,64,200 Equity Shares of face value of Rs.10 each
     Equity Shares outstanding after the Issue1,38,14,200 Equity Shares of face value of Rs.10 each

    Texaco Synthetics IPO Issue Object

    These are the IPO Issue Objects of the company

    • Funding the Working Capital requirements of the Company:
    •  Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
    •  General Corporate Purposes

     

    Texaco Synthetics 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:

    • Highly experienced management and operational team with industry expertise.
    • Focus on quality and constant innovation.
    • Wide variety of the products.
    • Existing relationship with the clients and suppliers.
    • Cost Leadership and time bound execution of the orders.
    • Well established manufacturing facilities with latest technology

    The relevant quantitative factors are:

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-160.394.76
    31-Mar-170.717.88
    31-Mar-181.5014.3221.00
    • Industry P/E Ratio:
    ParticularsP/E ratio
    Highest69.52
    Lowest6.58
    Average38.05
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Texaco
    Synthetics
    Limited
    101.514.3221.00
    2Arrow
    Textiles Ltd
    100.8436.314.5418.58
    3Khator
    Fibre &
    Fabrics Ltd
    101.5111.724.4334.98

     

    Texaco Synthetics IPO Lead Managers

    Lead Managers
    HOLANI CONSULTANTS PRIVATE LIMITED
    401-405 & 416-418, 4th Floor, Soni Paris Point, Jai
    Singh Highway, Bani Park, Jaipur-302016
    Tel.: +91 0141-2203996
    Fax: +91 0141-2201259
    Website: www.holaniconsultants.co.in
    Email: ipo@holaniconsultants.co.in
    Investor Grievance Id:
    complaints.redressal@holaniconsultants.co.in
    Contact Person: Mr.Bharat Mantri
    SEBI Registration No.: INM000012467

    Texaco Synthetics IPO Registrar to offer

    Registrar to the Offer
    LINK INTIME INDIA PRIVATE LIMITED
    C-101, 1st Floor, 247 Park, Lal Bahadur Shastri
    Marg, Vikhroli (West) Mumbai City Maharashtra 400083 India
    Tel: +91 022-49186200
    Fax: +91 022-49186195
    Website: www.linkintime.co.in
    Email: texaco.ipo@linkintime.co.in
    Investor Grievance id:
    texaco.ipo@linkintime.co.in
    Contact Person: Mr. Shanti Gopalkrishnan
    SEBI Registration No: INR000004058

    Other Details:

    • Statutory Auditor – M/s. Gattani & Associates., Chartered Accountants.
    • Peer Review Auditor – M/s. S.N Shah & Associates
    • Bankers to the Company – State Bank Of India

    Texaco Synthetics 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

    Texaco Synthetics IPO Grey Market Premium

    The Texaco Synthetics 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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      Texaco Synthetics IPO News

      News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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