Esprit Stones IPO: Core Details of Upcoming IPO

• Esprit Stones IPO is a book-built issue of Rs 50.42 crores.
• This upcoming IPO bidding opens on July 26 and closes on July 30, 2024.
• Esprit Stones SME IPO price is set at Rs 82 - Rs 87 per share.
• The minimum investment required Rs 1,39,200.

Esprit Stones IPO: Synopsis

Esprit Stones is open for subscription from Friday, July 26, 2024, and closing on Tuesday, July 30, 2024. The price band for this IPO is set to Rs 82 - 87 per share. 

Esprit Stones IPO is offering a book-built public issue of an entirely fresh issue of 39 lakh equity shares. The allotment for this new IPO is expected to be finalised on Wednesday, July 31, 2024. The IPO will be listed on the NSE SME segment on Friday, August 2, 2024.

The minimum lot size set for the retail category is 1 lot, i.e., 1600 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 3200 shares, the minimum investment amount required is Rs 2,78,400 for HNI Category.

The IPO is managed by Choice Capital Advisors Private Limited and Srujan Alpha Capital Advisors Llp which is the lead managers of the firm. The company has appointed Link Intime India Private Limited as the registrar for the issue.

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Esprit Stones Limited: About the Company

Esprit Stones Limited, established in 2016, specializes in manufacturing engineered quartz and marble surfaces. Their primary facility boasts three pressing lines and two polishing lines, capable of producing 7.2 million square feet annually. The company has expanded to include a second facility for quartz grit and powder production and a third for unsaturated polyester resin manufacturing. Esprit Stones holds multiple certifications, including ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard. As of May 2024, the company employed 295 people across various departments.

Esprit Stones IPO: Objectives

The net proceeds are proposed by the firm to be utilised for funding the working capital requirement of the firm, investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and/or prepayment in part or full of its outstanding borrowings, investment in HSPL for funding its working capital requirement, and rest into general corporate purposes.

Esprit Stones IPO: Other Important Details

Time-Table of Esprit Stones IPO

Esprit Stones IPO: Financial Metrics (Amt in Rs Lakhs)

The company's revenue was reported to be Rs 274.59 Crore for the year ended March 2024, which shows an increase of 56.07% as compared to March 2023. The profit after tax shows increase of 190.41% for the year ended March 2024 compared to March 2023. 

Minimum Investment: Lot Size Details 

Promoters of Esprit Stones Limited and Their Holdings

The promoters of the company are Sunil kumar Lunawath, Nitin Gattani, Pradeep kumar Lunawath, Sangeeta Gattani, Anushree Lunawath and Siddhanth Lunawath. The promoters collectively held 100% of the company's shares. However, post-IPO, the change in their shareholding has not yet been disclosed.

Esprit Stones: Strength of Company

1. Esprit Stones works in the field of manufactures engineered quartz and marble surfaces.

2. The company’s net profit shows a massive growth of 190.41% for FY24.

3. The Company is certified for ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard certifications.

FAQs

1.  What are the core details available of Esprit Stones IPO?

Esprit Stones IPO is a book-built issue of Rs 50.42 crores. This upcoming IPO is entirely a fresh issue of 5,795,200 equity shares. The allotment for this new IPO is expected to be finalised on Wednesday, July 31, 2024.

2.  How can I apply for the Esprit Stones IPO?

The public subscription of this new IPO will open on July 26 and close on July 30, 2024. Click here to initiate the application process.

3.  Who are the lead managers for the Esprit Stones IPO?

Capital Advisors Private Limited and Srujan Alpha Capital Advisors Llp were appointed as the book-running lead managers for the IPO.

4.  Who is appointed as the registrar for this IPO?

Link Intime India Private Limited has been appointed as the registrar for this public issue.

5.  How will the net proceeds from the IPO be utilised?

The net proceeds are proposed by the firm to be utilised for funding the working capital requirement of the firm, investment in the Subsidiary, Haique Stones Private Limited (HSPL), for repayment and/or prepayment in part or full of its outstanding borrowings, investment in HSPL for funding its working capital requirement, and rest into general corporate purposes.

6.  How can I check the allotment status of the IPO?

Investors who applied for IPO can check the allotment status of Esprit Stones Limited by visiting here, for further updates, follow Bigul. 

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