Ushanti Colour Chem IPO – Review, Allotment, Subscription, Price, Date & more

Ushanti Colour Chem Ltd is to issue upto 19,26,000 Equity Shares through its IPO, having face value of Rs. 10.00 each. Let’s have a detailed review of the company and analytics of the Ushanti Colour Chem IPO release date, IPO offer price, subscription, Ushanti Colour Chem IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Ushanti Colour Chem IPO Review & Ratings

Ushanti Colour Chem IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.5/10
Company Background6.4/10
Company Reputation6.5/10
Competitive Edge6.2/10
Financial Statements6.1/10
Popularity Index6.3/10
Promoters Reputation6.3/10
Retail Appetite 6.4/10
Top Brokers Review6.2/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Ushanti Colour Chem IPO

Ushanti Colour Chem IPOThe Company manufactures Reactive and Direct Dyestuffs also known as Synthetic Organic Dyes with an integrated production process. The company also manufactures Copper Phthalocyanine, Blue Crude which are one of the major raw materials used for manufacturing of Dyestuffs. The company is promoted and managed by Mr. Maunal Gandhi and Mr. Minku Gandhi. With decades of experience in this industry, our promoters along with the team of management are actively involved in the day-to-day affairs of our company’s operations adding valuable knowledge and experience required for sustainable growth.

Review of Operation For the Period Ended December 31, 2017

  • Net revenue from operations (i.e. net of excise duty and GST) for the period ended December 31, 2017 was Rs. 2,724.85 lakhs.
  • Income was Rs. 17.76 lakhs for the period ended December 31, 2017.
  • Total expenses, excluding tax amounted to Rs. 2,738.67 lakhs for the period ended December 31, 2017 which is 90.55% of total revenue.
  • Depreciation and amortization expenses were Rs. 85.65 lakhs which was 3.12% of total revenue out of which depreciation on tangible fixed assets was Rs. 80.79 lakhs and amortization of intangible assets was Rs. 4.86 lakhs for the period ended December 31, 2017.
  • Profit after tax for the period ended December 31, 2017 was Rs. 183.01 lakhs. Our Profit after Tax was 6.67% of our total revenue for the period ended December 31, 2017

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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Ushanti Colour Chem IPO Date

The opening and the closing date of IPO is from June 29, 2018 – July 4, 2018 .


Ushanti Colour Chem IPO Subscription

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


Ushanti Colour Chem IPO Allotment Status

Bigshare Services Private Limited : http://www.bigshareonline.com/bssipoapplicationstatus.aspx


Ushanti Colour Chem IPO Price Band

The face value of each share is Rs 10 and the price band of the IPO is Rs 57 – Rs 60 Per Equity Share. So, the Primium price is Rs 47 – Rs 50.


Ushanti Colour Chem IPO Equity Share Offering

1,926,000  Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs 11.56 Crores and the Minimum Order Quantity is 2000 Shares.


Ushanti Colour Chem Limited – Company Overview

Company was originally incorporated as ‘Ushanti Colour Chem Private Limited’ on May 12, 1993. Later on February 19, 2018 and the name of our Company was changed to ‘Ushanti Colour Chem Limited’. The Company manufactures Reactive and Direct Dyestuffs also known as Synthetic Organic Dyes with an integrated production process. The company also manufactures Copper Phthalocyanine, Blue Crude which are one of the major raw materials used for manufacturing of Dyestuffs. The pigment and dyestuffs manufactured by us caters to the raw material requirement of textile, garment, cotton, leather, nylon, paper, wool, ink, wood, plastic and paint industries. We concentrate in manufacturing “Turquoise Blue” Dyestuffs and Pigments.

The company has 3 manufacturing facilities situated together at Vatva GIDC in Gujarat. The facilities are spread over 2,739 sq. meters in total area.

The focus on “Turquoise Blue” Dyestuffs has assisted us to be become a niche player in the segment. The company generates most of its revenue from export operations and has received from Certificate of Recognition as Export House, products of the company are exported to countries like, Turkey, Egypt, Bangladesh, Pakistan, Indonesia, China etc. We have a dedicated Research & Development and Quality Control Team, which looks after the quality of the product we manufacture.

Competitive Strengths of Ushanti Colour Chem Limited:

  • Focus on quality and innovation
  • Experienced Promoters and Management
  • Intermediates Production
  • Locational Advantage leading to reduction of cost
  • Established relationship with clients

Business strategies of Ushanti Colour Chem Limited:

  • Business expansion
  • Reduction of costs
  • Vertical integration of production process
  • Expanding customer base
  • Capacity expansion

Ushanti Colour Chem 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-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
Total Assets2,273.942,238.702,022.311,889.781315.76
Total Revenue2,962.102,511.312,970.963,541.982,414.66
Total Expense2755.052463.572924.493203.602336.57
Profit After Tax127.7326.2228.36222.0051.01

 

Earnings per Equity Share (in Lakhs)

31-Dec-1731-Mar-1731-Mar-16
Basic 3.402.380.49
Diluted 3.402.380.49

From the above statements, one could find that the Ushanti Colour Chem Limited may perform well.


Ushanti Colour Chem IPO – Promoters

The Promoter of this company are:

Promoter
Maunal Shantilal Gandhi
Minku Shantilal Gandhi
Promoter Group 
Shantilal Bhailal Gandhi
Mona M. Gandhi
Sheafali M. Gandhi
Maunal Shantilal Gandhi HUF
Shantilal Bhailal Gandhi HUF
Minku Shantilal Gandhi HUF
Aadit Gandhi

INTEREST OF PROMOTERS

The individual Promoters who are also the Joint Managing Directors of the Company may be deemed to be interested to the extent of fees, if any payable to them for attending meetings of the Board or a committee thereof as well as to the extent of remuneration, commission and reimbursement of expenses payable to them as per the terms of the Articles of the Company and relevant provisions of Companies Act. The individual Promoters may also be deemed to be interested to the extent of Equity Shares held by them in The Company and also to the extent of any dividend payable to them and other distributions in respect of the said Equity Shares in the Company.

LITIGATION INVOLVING THE PROMOTERS
For details of legal and regulatory proceedings involving the Promoters, please refer “Outstanding Litigation and Material Developments” on page 199 of this Draft Red Herring Prospectus.

OTHER VENTURES OF THE PROMOTERS
Save and except as disclosed in the chapter titled “Our Promoter and Promoter Group” and “Our Group Companies” beginning on page 171 and 175, of this Draft Red Herring Prospectus, there are no ventures promoted by the Promoter in which they have any business interests / other interests.

DEFUNCT/ STRUCK OFF COMPANY
None of their group Company has struck off.


Ushanti Colour Chem IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Upto 19,26,000* Equity Shares of face value of Rs.10/- each
 Of which:
 Reserved for Market Makers Upto [●] Equity Shares of face value of Rs. 10/- each
 Net Issue to the Public Upto [●] Equity Shares of face value of Rs.10/- each
 Of which:
QIB PortionNot more than [●] Equity shares of face value of Rs. 10/- each fully paid of the Company for cash at a price of Rs. [●]/- per share aggregating Rs. [●] Lakhs; shall be available for allocation to QIB
Of which
Available for allocation to Mutual Funds only (5% of the QIB portion) (Excluding the Anchor Investor Portion)[●] Equity Shares of Face Value of Rs. 10/- each
Balance for all QIBs including Mutual Funds[●] Equity Shares of Face Value of Rs. 10/- each
 Retail Investors Portion Upto [●] Equity Shares of face value of Rs. 10/- each  (available for allotment to Retail Individual Investors of up to Rs. 2.00 Lacs)
 Non-Retail Investors PortionUpto [●] Equity Shares of face value of Rs. 10 /- each  (available for allocation to investors up to Rs. 2.00 Lacs)
 Equity Shares outstanding prior to the Issue53,75,700 Equity Shares
 Equity Shares outstanding after the IssueUpto 73,01,700 Equity Shares of face value of Rs. 10 each

Ushanti Colour Chem IPO Issue Object

These are the IPO Issue Objects of the company:

1. To finance setting up of Vinyl Sulphone manufacturing facility at GIDC Saykha Industrial Estate, Bharuch;
2. Repayment/pre-payment of certain secured borrowings availed by our Company; and
3. General corporate purposes.


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Ushanti Colour Chem 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:

  • Focus on quality and innovation
  • Experienced Promoters and management
  • Intermediates Production
  • Wide range of products
  • Locational Advantage
  • Cost reduction initiatives
  • Well established relationship with clients

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-172.3819.5412.16
31-Mar-160.494.99
31-Mar-150.535.68
  • Industry P/E Ratio:
ParticularsP/E ratio
Average26.76
Highest63.34
Lowest8.52
  • Competitive Peers


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Ushanti Colour Chem IPO Lead Managers

Lead Managers
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
406-408, Keshava Premises, Behind Family
Court, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, Maharashtra, India. Tel: +91-22 61946700
Fax: +91-22 2659 8690
Website:www.pantomathgroup.com, Email: ipo@pantomathgroup.com
Investor Grievance Id:ipo@pantomathgroup.com
Contact Person: Hardik Bhuta/Unmesh Zagade
SEBI Registration No:INM000012110

Ushanti Colour Chem 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, Maharashtra, India

Tel: +91 22 6263 8200, Fax: +91 22 6263 8299
Email: ipo@bigshareonline.com, Website: www.bigshareonline.com
Investor Grievance Id:ipo@bigshareonline.com
Contact Person: Jibu John
SEBI Registration Number: INR000001385


Other Details:

  • Statutory Auditor – NA
  • Peer Review Auditor – NA
  • Bankers to the Company –  NA
  • Summary:
Open DateJune 29 2018
Close DateJuly 04 2018
Total Shares1,926,000
Face ValueRs 10 Per Equity Share
Issue Size11.56 Cr.
Lot Size2000 Shares
Issue PriceRs 57-60 Per Equity Share
Listing AtNSE Emerge
Listing DateJuly 12 2018

Ushanti Colour Chem IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

 


Ushanti Colour Chem IPO Grey Market Premium

The Ushanti Colour Chem 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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Ushanti Colour Chem IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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