Chavda Infra Ltd IPO Timeline

Chavda Infra Ltd IPO opens on 12-Sep-2023, and closes on 14-Sep-2023. The Chavda Infra Ltd IPO bid date is from 12-Sep-2023 to 14-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Chavda Infra Ltd IPO Opening Date 12-Sep-2023
Chavda Infra Ltd IPO Closing Date 14-Sep-2023
Basis of Allotment 20-Sep-2023
Initiation of Refunds 21-Sep-2023
Credit of Shares to Demat 22-Sep-2023
Chavda Infra Ltd IPO Listing Date 25-Sep-2023

Chavda Infra Ltd IPO Lot Size

Chavda Infra Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 130000).

Application Lots Shares Amount
Minimum 1 2000 ₹130000
Maximum 1 2000 ₹130000

Chavda Infra Ltd IPO Details

Chavda Infra Ltd IPO Date 12-Sep-2023 to 14-Sep-2023
Chavda Infra Ltd IPO Face Value Shares of ₹10 per share
Chavda Infra Ltd IPO Price ₹65 per share
Chavda Infra Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹43.26 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹43.26 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Mahesh Gunvantlal Chavda, Dharmishtha Maheshkumar Chavda, Johil Maheshbhai Chavda.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 To meet working capital requirements
  • 2 General corporate purposes

Company Financials

Chavda Infra Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 250.61 241.97 18.76
03-2023 154.24 162.03 12.05
03-2022 108.81 109.88 5.21
Amount in ₹ Crore
  • Experienced Promoters and Management Team.
  • End-to-end execution capabilities.
  • Optimal Utilization of Resources.
  • Visible growth through a robust order book.
  • Long-standing relationships with its customers.
  • 100% of its revenues are generated from state of Gujarat. Any adverse development affecting the operations in this region could have an adverse impact on its business, financial condition and results of operations.
  • The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
  • The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.
  • The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • The company's revenues from its projects are difficult to predict and are subject to seasonal variations.
  • The company may be unable to identify or acquire new projects and its bids for new projects may not always be successful, which may stunt its business growth. Further, any delay in the commencement or cancellation of the projects awarded to it may adversely affect its business, prospects, reputation, profitability, financial condition and results of operation.
  • Any failure to accurately estimate the overall risks, revenues or costs in respect of a project, may adversely affect its profitability and results of operations. The actual cost in executing a contract or in constructing a project may vary substantially from the assumptions underlying its bid. The company may be unable to recover all or some of the additional expenses, which may have a material adverse effect on its results of operations, cash flows and financial condition.
  • Failure to successfully implement its business strategies may materially and adversely affect its business, prospects, financial condition and results of operations.
  • Obsolescence, destruction, theft, breakdowns of its major plants or equipment or failures to repair or maintain the same may adversely affect its business, cash flows, financial condition and results of operations.
  • The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on its business and the results of operations.
  • The Company has availed unsecured loans which are repayable on demand. Any demand from lenders for repayment of such unsecured loans, may adversely affect its cash flows.
  • The Company's lenders have charge over its movable and immovable properties in respect of finance availed by it.
  • There are certain discrepancies and non- compliances noticed in some of the financial reporting and/or records relating to filing or returns and deposit of statutory dues with the taxation and other statutory authorities.
  • There are certain discrepancies and non- compliances noticed in the statutory records and/or records relating to filing of returns and statutory expenses with the concerned Registrar of Companies.
  • The company's success depends largely on the skill, experience and continued efforts of its senior management, skilled professionals and unskilled workers and the ability to attract and retain skilled and unskilled personnel.
  • The company may be seriously affected by delays in the collection of receivables from its clients and may not be able to recover adequately on its claims.
  • A significant number of its project contracts prescribe a requirement for maintaining retention money during the defects liability period. Any dispute or failure to obtain a release of such retention monies in a timely manner or at all may have an adverse impact upon its profitability, results of operations and financial position.
  • The company may need to raise additional capital in the future for working capital and it may not be able to do so on favorable terms or at all, which would impair the company ability to operate its business or achieve its growth objectives, which may have an adverse effect on its results of operations and business.
  • Its business is capital intensive and is significantly dependent on the availability of real estate financing in India. Difficult conditions in the global capital markets and the global economy generally may adversely affect its business and results of operations and may cause it to experience limited availability of funds. It cannot assure you that the company will be able to raise sufficient financing on acceptable terms, or at all.
  • The company's order book may not be representative of the future results and projects included therein and future projects may be delayed, modified or cancelled for reasons beyond its control, which may materially and adversely affect its business, prospects, reputation, profitability, financial condition and results of operations.
  • The company source a large part of the new orders from its relationships with corporates and other customers, both present and past. Any failure to maintain the company long-standing relationships with its existing customers or forge similar relationships with new ones would have a material adverse effect on its business operations and profitability.
  • If the company is not successful in managing the growth, its business may be disrupted, and its profitability may be reduced.
  • The company's Promoter and members of Promoter Group have provided their personal guarantees to certain loan facilities availed by it, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
  • The company faces significant competition and if it fails to compete effectively, The company business, prospects, financial condition and results of operations will be adversely affected.
  • The company engages sub-contractors and other agencies in its business. The timely and successful completion of its projects in certain cases depends upon the cooperation of the sub- contractors, and any failure or delay in successful completion could adversely affect the quality of the developments and adversely affect its profitability, business and reputation.
  • The company's reliance on raw material suppliers for its business operations exposes it to a variety of risks which could materially disrupt its operations.
  • While executing projects with relatively longer gestation periods, The company faces various kinds of implementation risks and its inability to successfully manage such risks may have an adverse impact on the functioning of its business.
  • The company could be adversely affected if it fails to keep pace with technical and technological developments in the construction industry.
  • Its operations could be adversely affected by strikes, work stoppages or increased wage demands by the employees or any other kind of disputes with its employees.
  • The company requires certain regulatory and statutory approvals and licenses required in the ordinary course of its business, and the failure to obtain, maintain and renew these approvals in a timely manner or at all, may adversely affect its business and operations.
  • The company depends on the corporate name and logo that it may not be able to protect and/or maintain. The company has not obtained the registration of the trademarks used in the business operations and its inability to obtain or maintain such registration may adversely affect its competitive business position. Its inability to protect or use the intellectual property rights may adversely affect its business.
  • The company may not maintain historical dividends in the future.
  • The company may be subject to third-party indemnification, liability claims or invocation of guarantees, which may adversely affect its business, cash flows, results of operations and reputation.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • The Statutory Auditors have given qualified opinion in their audit reports on the audited financial statements and for the year ended March 31, 2022 as well as March 31, 2021.
  • In addition to normal remuneration, other benefits and reimbursement of expenses to its Promoter and Directors; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves as well as between the Company and the Group Companies/ Entities. The Company in future may enter in related party transactions subject to necessary compliances.
  • The average cost of acquisition of Equity shares by its Promoters are lower than the Issue price.
  • Any conflict of interest which could occur between its business and any other similar business activities pursued by the Director, Promoter and Promoter Group entity, could have a material adverse effect on its business and results of operations.
  • Its Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this Draft Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • In the event there is any delay in the completion of the Issue, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
  • The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at the discretion and as per the details mentioned in the section titled "Objects of the Issue".
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the Equity Shares.
  • The company ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the financing arrangements.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The company's insurance coverage may not adequately protect it against possible risk of loss.
  • Third party statistical and financial data in this Prospectus may be incomplete or unreliable.
  • Continue to enhance its project execution capabilities.
  • Leveraging its market skills and relationship.
  • Maintaining edge over competitors.
  • Expand its geographical footprint.

Chavda Infra Ltd IPO Promoter Holding

Pre Issue Share Holding 100.00%
Post Issue Share Holding 73.01%

Chavda Infra Ltd IPO Subscription Status (Bidding Detail)

The Chavda Infra Ltd IPO is subscribed 119.7272 times on Sep 14, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 119.7272

Chavda Infra Ltd IPO Prospectus

Chavda Infra Ltd IPO Listing Date

Listing Date 25 Sep 23
BSE Script 91647
NSE Symbol CHAVDA
Listing In NSE - SME
ISIN INE0PT101017
IPO Price ₹65
Face Value ₹10

Chavda Infra Ltd IPO Registrar

KFin Techologies Ltd

Phone: +91 40 6716 2222
Email: chavdainfra.ipo@kfintech.com
Website: www.kfintech.com

Chavda Infra Ltd IPO Lead Manager(s)

  1. Beeline Capital Advisors Pvt Ltd

FAQs on Chavda Infra Ltd IPO

Chavda Infra Ltd IPO, which opens for subscription from 12-Sep-2023 to 14-Sep-2023 has an issue size of ₹43.26 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Chavda Infra Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Chavda Infra Ltd IPO Opens for subscription from 12-Sep-2023 to 14-Sep-2023.

The lot size of Chavda Infra Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹130000 and ₹130000 respectively.

Allotment date for Chavda Infra Ltd is 20-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 21-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 22-Sep-2023.

The registrar for Chavda Infra Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Chavda Infra Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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