Presstonic Engineering Limited IPO 🚀
ISSUE DETAILS 📊
- IPO Size: ₹23.30 Cr (Fresh issue aggregating up to Rs. 23.30 Cr)
- Face Value: ₹10 Per Equity Share
- Price Band: ₹72 Per Share
- Min Investment: ₹1,15,200 (1600 Shares)
- Listing at: NSE SME
- Registrar: Cameo Corporate Services Limited
ABOUT THE COMPANY ℹ️
Incorporated in June 1996, Presstonic Engineering Limited is a company that specializes in manufacturing products for Metro Rail Rolling Stock, Metro Rail Signalling, and Infrastructure.
These products are supplied to Global and Domestic OEMs manufacturing and servicing Rail and Metro Rail Rolling Stock and Signalling equipment.
The manufacturing facility spans over 28,317.50 sq. ft. It is equipped with the latest machinery, equipment, and instruments capable of manufacturing diverse products for railways and metros.
The company has a wide range of products, including Rolling Stock Interior Products such as Saloon Bucket/Plain Type Seats, Custom Colored Engineered Handles, Grab Pole Systems, Hand Rail Systems, Emergency Evacuation Ramps, and Honeycomb Partition Panels.
They also manufacture IP-rated enclosures, beacon mounting brackets, ballastless support brackets, DCS masts, ladder assemblies with DCS mast platforms, Steel Structures, Aluminum Murals, Support Structures for Solar Panels, Wire Forms, and Cable Trays.r Panels, Wire Forms, and Cable Trays.
OFFER BREAKUP 📈
| Category | Allocation | Issue Size (Rs in Cr) |
| Others | 50% | 11.65 |
| Retail | 50% | 11.65 |
| Total | 100% | 23.30 |
IPO OBJECTIVES 🎯
The Objects of the Issue are:
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- Prepayment in full of certain borrowings availed by the Company meets the Working Capital Requirements
- To meet the Issue Expenses
- General Corporate Purposes.
IPO TIMELINE ⏰
| IPO Open Date | 11-Dec-2023 |
| IPO Close Date | 13-Dec -2023 |
| Basis of Allotment Date | 14-Dec -2023 |
| Initiation of Refunds | 15-Dec -2023 |
| Credit of Shares to Demat Account | 15-Dec -2023 |
| IPO Listing Date | 18-Dec -2023 |
IPO STRENGTHS 🌐
- Organizational stability along with management expertise.
- Established Manufacturing Facility designed to serve multiple product ranges.
- Well-defined organizational structure.
- Diversified Product Portfolio and Strong Order Book
IPO RISKS 📉
• Their business depends on a few customers, and the loss of or a significant reduction in orders by such customers could adversely affect their business.
• They rely significantly on some suppliers to supply their raw materials. If these suppliers are unable or unwilling to supply raw materials on time or fail to meet their requirements, their business will be harmed. And have a material adverse effect on their business, results of operations and financial condition
• Their continued success is dependent on their senior management and skilled workforce. Their inability to attract and retain key personnel may hurt their business prospects.
• Their success depends on stable and reliable logistics and transportation infrastructure. Disruption of logistics and transportation services could impair the ability of their suppliers to deliver materials or their ability to provide materials to their customers and increase their transportation costs, which may adversely affect their operations
• They have only one manufacturing facility. As a result, any local social unrest, natural disaster, or breakdown of services and utilities in that area could adversely affect their operations’ business, financial position, and results.
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