Presstonic Engineering Ltd IPO Timeline
Presstonic Engineering Ltd IPO opens on 11-Dec-2023, and closes on 13-Dec-2023. The Presstonic Engineering Ltd IPO bid date is from 11-Dec-2023 to 13-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
|Presstonic Engineering Ltd IPO Opening Date
|Presstonic Engineering Ltd IPO Closing Date
|Basis of Allotment
|Initiation of Refunds
|Credit of Shares to Demat
|Presstonic Engineering Ltd IPO Listing Date
Presstonic Engineering Ltd IPO Lot Size
Presstonic Engineering Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 115200).
Presstonic Engineering Ltd IPO Details
|Presstonic Engineering Ltd IPO Date
|11-Dec-2023 to 13-Dec-2023
|Presstonic Engineering Ltd IPO Face Value
|Shares of ₹10 per share
|Presstonic Engineering Ltd IPO Price
|₹72 per share
|Presstonic Engineering Ltd IPO Lot Size
|Shares of ₹10 (aggregating up to ₹23.31 Cr)
|Shares of ₹10 (aggregating up to ₹23.31 Cr)
|Offer for Sale
|Fixed Price - SME
|NSE - SME
|QIB Shares Offered
|Retail Shares Offered
|NII (HNI) Shares Offered
|Herga Poornachandra Kedilaya, Yermal Giridhar Rao.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Funding capital expenditure towards purchase of additional plant and machinery
- 2 Prepayment in full of certain borrowings availed by the company
- 3 Working capital requirements
- 4 General corporate purposes
Presstonic Engineering Ltd Financial Information (Restated)
|Profit After Tax
|Amount in ₹ Crore
- Established and proven track record.
- Leveraging the experience of its Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with its customers.
- Quality Assurance & Control.
- Its business is dependent on a few customers and the loss of, or a significant reduction in orders by such customers could adversely affect its business.
- The company relies significantly on some suppliers for the supply of its raw materials. If these suppliers are unable or unwilling to supply raw materials on time or otherwise fail to meet its requirements, its business will be harmed. An inability to procure the desired quality, quantity of its raw materials and components in a timely manner and at reasonable costs, or at all, may have a material adverse effect on its business, results of operations and financial condition.
- The company is affected by the prices, availability, and quality of the raw materials used in its production.
- The Company has been incorporated upon conversion of Partnership Firm M/s. Presston Engineering Corporation thus its have limited operating history as a Company which may make it difficult for investors to evaluate its historical performance or future prospects.
- The company have only one manufacturing facility.
- Delays or defaults in customer payments could adversely affect its financial condition.
- Its success depends on stable and reliable logistics and transportation infrastructure. Disruption of logistics and transportation services could impair the ability of its suppliers to deliver materials or its ability to deliver materials to its customers and/ or increase the company transportation costs, which may adversely affect its operations.
- If the company is unable to successfully implement its proposed expansion plans; its results of operations and financial condition could be adversely affected.
- The Company is yet to place orders for purchase of machinery. Any delay in placing orders or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
- The Company faces the risk of Unexpected Costs overruns and Losses.
- Its debt financing agreements contain certain restrictive covenants that may adversely affect the Company's business, credit ratings, prospects, results of operations and financial condition.
- The company generally do business with its customers on purchase order basis and do not enter into long term contracts with most of them.
- Its efforts to introduce new products are dependent on the success of its research and development initiatives. The company inability to successfully develop and commercialize new products in a timely manner could adversely impact its business, growth and financial condition.
- The Company had incurred loss in one of the last three financial years. Any losses in future could adversely impact its business, financial condition and results of operations.
- The company may encounter delays in the implementation and execution of its orders.
- The Company had negative cash flow 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 company have issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the Issue Price.
- The company have certain contingent liabilities, which, if materialized, may affect its financial condition and results of operations.
- The company is required to furnish bank guarantees to its certain clients. Its inability to arrange such guarantees or the invocation of such guarantees may adversely affect its cash flows and financial condition.
- Latent defects in its products may increase it's after-sales cost or the company may suffer losses on account of replacements/ product recalls.
- Its business is subject to seasonal and other fluctuations that may affect its cash flows and business operations.
- Any reduction in the demand for its products could lead to underutilisation of the company manufacturing capacity.
- The company may face significant competition in its business. An inability to compete effectively may lead to a lower market share or reduced operating margins.
- The Company may face risks associated with business transactions with Government Entities.
- Its continued success is dependent on its senior management and skilled manpower. The company inability to attract and retain key personnel may have an adverse effect on its business prospects.
- The company ability to anticipate changes in consumer preference, and industry trends and to meet customers' demands is a significant factor to remain competitive, any failure to identify and understand the trends may materially adversely affect its business.
- If the company is unable to manage/arrange funds (including at short notice) to meet its working capital requirements, there may be an adverse effect on its results of operations.
- The company intend to repay certain loan facilities availed by the company from the IPO Proceeds.
- Its management will have broad discretion in how the company apply the Net Proceeds of the Issue and there is no assurance that the Objects of the Offer will be achieved within the time frame expected, or at all, or that the deployment of Net Proceeds in the manner intended by it will result in an increase in the value of your investment.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- Its operations are subject to high working capital requirements. If the company is unable to generate sufficient cash flows to allow it to make required payments, there may be an adverse effect on its results of operations.
- The company appoint contract labour for carrying out certain of its operations and its may be held responsible for paying the wages of such workers, if the independent contractors through whom such workers are hired default on their obligations, and such obligations could have an adverse effect on its results of operations, cash flows and financial condition.
- The company inability to accurately forecast the total amount due to MSME Creditors may adversely affect its business operations and cash flows.
- The company customers may claim against it and/or terminate its services in whole or in part prematurely should the company fail to satisfy their requirements and expectations or for any other reason.
- Its revenues are highly dependent on clients located in India. Any decline in the economic health of India could adversely affect its business, financial condition and results of operations.
- The company have entered into, and will continue to enter into, related party transactions.
- The Company's Registered Office and manufacturing facility are not owned by it and the company have only lease rights over them. In the event its lose such rights, its business, financial condition and results of operations, and cash flows could be adversely affected.
- Shortage or non-availability of essential utilities such as electricity could affect its manufacturing operations and have an adverse effect on its business, results of operations and financial condition.
- Certain relevant copies of experience certificates of its promoters/Directors are not traceable.
- Its business requires it to obtain and renew certain licenses and permits from government, regulatory authorities and other national/ international corporations and the failure to obtain or renew them in a timely manner may adversely affect its business operations.
- The Logo used by the Company is currently not registered under Trade Marks Act, 1999. Failure to protect its intellectual property rights may adversely affect its competitive business position, financial condition and profitability.
- In addition to its existing indebtedness for the company operations, its may be required to obtain further loan during the course of business. There can be no assurance that its would be able to service its existing and/or additional indebtedness.
- The company is subject to risks resulting from foreign exchange rate fluctuations, which could adversely affect its results of operations.
- The company has not made any alternate arrangements for meeting its regular working capital requirements. If the company operations do not generate the necessary cash flow, its working capital requirements may negatively affect its operations and financial performance.
- Certain Agreements /deeds may be in the previous name of the company.
- Certain agreements may be inadequately stamped or may not have been registered as a result of which its operations may be adversely affected.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- Major fraud, lapses of internal control or system failures could adversely impact the company's business.
- The company may not be successful in implementing its business strategies.
- Some of the approvals are required to be updated consequent to the change in the name of the Company.
- Its lenders have charge over the company Machinery, book debts, stocks in respect of finance availed by it.
- Excessive dependence on Canara Bank in respect of Loan facilities obtained by the Company.
- Its Promoters have provided personal guarantees for loans availed by the Company. Its business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees provided by its Promoter.
- The company provide after sales service to its customers. Any failure or deterioration of after sale service could have an adverse effect on its business, reputation, results of operations or financial condition.
- An inability to renew quality accreditations in a timely manner or at all, or any deficiencies in the quality of its products may adversely affect its business prospects and financial performance.
- Any destruction, breakdown, theft 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.
- Orders placed by customers may be delayed, modified, cancelled or not fully paid for by its customers, which may have an adverse effect on the company's business, financial condition and results of operations.
- Some of the KMPs is associated with the company for less than one year.
- Its manufacturing Unit is situated in Bangalore, Karnataka and the company operations may be affected by various factors associated with the region where its operate.
- Its inability to effectively manage project execution and milestone schedules may lead to project delays which may adversely affect its business and the result of operations.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Its may not be able to secure new contracts and/or customers.
- An inability to manage its growth could disrupt its business and reduce the company profitability.
- Its Directors and certain Key Management Personnel hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- The Company' insurance policies may not protect it against certain operational risks or claims by its employees.
- The Promoter and Promoter Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
- The company operations are subject to a variety of environmental laws and regulations including those relating to hazardous materials. Any failure to comply with applicable environmental laws and regulations could have an adverse effect on its financial condition and results of operations.
- The Company does not have any listed peer companies for comparison of performance and therefore, investors must rely on their own examination of accounting ratios of the Company for the purposes of investment in the Issue.
- The company is subject to risks arising from interest rate fluctuations, which could adversely affect its business, financial condition and results of operations.
- The future operating results are difficult to predict and may fluctuate or adversely vary from the past performance.
- Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes amounting to Rs. 350.00 lakhs which constitute 15.02% of the total Issue Proceeds.
- Its Board of Directors and management may change the company operating policies and strategies without prior notice or shareholder approval.
- Industry information included in this draft prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
- In the event there is any delay in the completion of the Issue, 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.
- There is no guarantee that its Equity Shares will be listed on the Emerge Platform of National Stock Exchange of India Limited in a timely manner or at all.
- The requirements of being a public listed company may strain its resources and impose additional requirements.
- The Issue Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue.
- After this Issue, the price of its Equity Shares may be volatile, or an active trading market for its Equity Shares may not be sustained.
- The investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
- There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- Any future issuance of Equity Shares may dilute the investors' shareholdings or sales of its Equity Shares by the company Promoters or Promoter Group may adversely affect the trading price of its Equity Shares.
- The Company has not paid any dividends till now and there can be no assurance that its will pay dividends in future.
- Its 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 its financing arrangements.
- You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
- Applicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
- Foreign investors may be restricted in their ability to purchase or sell Equity Shares.
- The investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
- Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
- Its Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
- Focus on Increase in Volume of Sales.
- Reduction of operational costs and achieving efficiency.
- Improving operational efficiencies.
- Leverage and enhance its goodwill in the market.
- Leveraging its Market skills and Relationships.
Presstonic Engineering Ltd IPO Promoter Holding
|Pre Issue Share Holding
|Post Issue Share Holding
Presstonic Engineering Ltd IPO Subscription Status (Bidding Detail)
The Presstonic Engineering Ltd IPO is subscribed - times on Dec 13, 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)
Presstonic Engineering Ltd IPO Prospectus
Presstonic Engineering Ltd IPO Listing Date
|18 Dec 23
|NSE - SME
Presstonic Engineering Ltd IPO Registrar
Cameo Corporate Services Ltd
Phone: +91-44-40020700, 28460390
Presstonic Engineering Ltd IPO Lead Manager(s)
- Finshore Management Services Ltd
FAQs on Presstonic Engineering Ltd IPO
Presstonic Engineering Ltd IPO, which opens for subscription from 11-Dec-2023 to 13-Dec-2023 has an issue size of ₹23.31 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 Presstonic Engineering Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Presstonic Engineering Ltd IPO Opens for subscription from 11-Dec-2023 to 13-Dec-2023.
The lot size of Presstonic Engineering Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹115200 and ₹115200 respectively.
Allotment date for Presstonic Engineering Ltd is 14-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 15-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 15-Dec-2023.
The registrar for Presstonic Engineering Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Presstonic Engineering Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).