Saakshi Medtech & Panels Ltd IPO Timeline

Saakshi Medtech & Panels Ltd IPO opens on 25-Sep-2023, and closes on 27-Sep-2023. The Saakshi Medtech & Panels Ltd IPO bid date is from 25-Sep-2023 to 27-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Saakshi Medtech & Panels Ltd IPO Opening Date 25-Sep-2023
Saakshi Medtech & Panels Ltd IPO Closing Date 27-Sep-2023
Basis of Allotment 04-Oct-2023
Initiation of Refunds 05-Oct-2023
Credit of Shares to Demat 06-Oct-2023
Saakshi Medtech & Panels Ltd IPO Listing Date 03-Oct-2023

Saakshi Medtech & Panels Ltd IPO Lot Size

Saakshi Medtech & Panels Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 116400).

Application Lots Shares Amount
Minimum 1 1200 ₹116400
Maximum 1 1200 ₹116400

Saakshi Medtech & Panels Ltd IPO Details

Saakshi Medtech & Panels Ltd IPO Date 25-Sep-2023 to 27-Sep-2023
Saakshi Medtech & Panels Ltd IPO Face Value Shares of ₹10 per share
Saakshi Medtech & Panels Ltd IPO Price ₹97 per share
Saakshi Medtech & Panels Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹45.16 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹45.16 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 Aniket Vijay Latkar, Chitra Vijay Latkar.

Objects of the Issue

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

  • 1 Repayment in full or in part of certain of its outstanding borrowings
  • 2 Funding to meet working capital requirements
  • 3 General corporate purposes

Company Financials

Saakshi Medtech & Panels Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 130.68 122.60 11.31
03-2023 93.24 122.20 12.38
03-2022 65.22 91.69 9.38
Amount in ₹ Crore
  • The Company offers a diversified range of products.
  • Engineering expertise with complex product manufacturing capability.
  • Long term and well-established relationships with OEM customers.
  • Quality Assurance.
  • Experienced and Qualified Management and Employee base.
  • Stable financial performance.
  • The company's business is dependent on the sale of the products to certain key customers. The loss of any of these customers or loss of revenue from sales to these customers could have a material adverse effect on its business, financial condition, results of operations and cash flows.
  • Pricing pressure from the customers may adversely affect the company gross margin, profitability and ability to increase of the prices, which may in turn have a material adverse effect on its results of operations and financial condition.
  • The company is significantly dependent on the sale of Electrical Control Panels and Cabinets. An inability to anticipate or adapt to evolving up gradation of the required products or inability to ensure product quality or reduction in the demand of these products may adversely impact its revenue from operations and growth prospects.
  • The company is subject to strict quality requirements, customer inspections and audits, and any failure to comply with quality standards may lead to cancellation of existing and future orders and could negatively impact its reputation and the company business and results of operations and future prospects.
  • The company may be subject to risks associated with product warranty.
  • The company's business is dependent on its manufacturing facilities and its subject to certain risks in the manufacturing process. Obsolescence, destruction, theft, breakdowns of the major plants or machineries or failures to repair or maintain the same or Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on the business, results of operation or financial condition may affect the company business, cash flows, financial condition and results of operations.
  • Inventories and trade receivables form a major part of the current assets. Failure to manage its inventory and trade receivables could have an adverse effect on the company sales, profitability, cash flow and liquidity.
  • The company's manufacturing activities require deployment of labour and depend on availability of labour. In case of unavailability of such labour, its business operations could be affected.
  • The company depends on the technical expertise and R&D initiatives to develop new products and/or improve the existing products and if its unable to keep the technical knowledge and process know-how confidential or if the company R&D initiatives do not succeed, Its may suffer loss of the ompetitive advantage.
  • There are certain discrepancies/errors noticed in some of the corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 1956/ 2013. Moreover its unable to trace some of the historical records. Any penalty or action taken by any regulatory authorities in future, for non- compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
  • Any delay, interruption or reduction in the supply of raw materials to manufacture the products may adversely affect its business, results of operations, cash flows and financial condition.
  • The company's business is substantially dependent on its design and engineering teams to accurately carryout the estimates and engineering studies for potential orders. Any deviation during the execution of the order as compared to the estimates could have a material adverse effect on the cashflows, results of operations and financial condition.
  • The company's manufacturing facilities are located on leased premises. If its unable to renew these leases or relocate on commercially suitable terms, it may have a material adverse effect on the business, results of operation and financial condition.
  • The company currently avail benefits under the EPCG licenses. In order to continuously avail the benefits, its are required to export goods of a defined amount. Any failure in meeting the obligations the company may be liable to pay duty proportionate to unfulfilled obligations along with interest.
  • Geographical concentration of the manufacturing facilities may adversely affect its operations, business and financial condition.
  • The Company operates under several statutory and regulatory approvals in respect of the operations. Failure to obtain or maintain licenses, registrations, permits and approvals may affect its business and results of operations.
  • If the company is unable to manage its growth effectively and further expand into new markets of the business, future financial performance and results of operations could be materially and adversely affected.
  • Expansion of the company operations in factory unit III is subject to the risk of uncertainties and cost overruns.
  • The company insurance coverage may not be adequate to protect us against all potential losses to which its may be subject and this may have a material effect on the business and financial condition.
  • The company is dependent on third party transportation providers for the delivery of the raw material and products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
  • The company has significant working capital requirements. If its experience insufficient cash flows from the operations or are unable to borrow to meet the working capital requirements, it may materially and adversely affect the company business, cash flows and results of operations.
  • The company's business subjects it to risks in multiple countries where head offices or parent companies of its customers are situated.
  • The Company is involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties/prosecutions and may adversely affect its business and results of operations.
  • The Logo used by the Company is currently under process of registration under Trade Marks Act, 1999. Failure to protect its intellectual property rights may adversely affect the company competitive business position, financial condition and profitability.
  • The company relies on third parties manufactures for certain bought out parts and manufactured sub-assemblies. Any failure by or loss of a third-party manufacturer could result in delays and increased costs, which may adversely affect its business.
  • Activities involving the manufacturing process can cause injury to people or property in certain circumstances. A significant disruption at any of the manufacturing facilities may adversely affect the production schedules, costs, sales and ability to meet customer demand.
  • The company has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on the Company's financial condition and results of operations.
  • Any failure to adapt to industry trends and evolving technologies to meet the customers' demands may materially and adversely affect its business and results of operations.
  • The company is dependent on the promoter and senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect the company business, results of operations, financial condition and cash flows.
  • The Company has taken unsecured loans that may be recalled by the lenders at any time.
  • The company contingent liabilities as stated in the Restated Financial Statements could affect its financial condition.
  • The company is exposed to foreign currency fluctuation risks, which may affect its results of operations.
  • The company is subject to risks arising from interest rate fluctuations, which could reduce of the profitability and adversely affect its business, financial condition and results of operations.
  • The company lenders have charge over its immovable and movable properties in respect of finance availed by it.
  • Under-utilization of the manufacturing capacities may have an adverse effect on its business, future prospectus and future financial performance. Moreover, information relating to capacity utilization of the production facilities included in this Draft Red Herring Prospectus is based on certain assumptions and has been subjected to rounding off, and future production and capacity utilization may vary.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and have not been appraised by any bank or financial institution or any independent agency.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • The company operates in a competitive business environment. Failure to compete effectively against its competitors and new entrants in the industry in any of the business segments may adversely affect the company business, financial condition and results of operations
  • Industry information included in this Draft Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
  • 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.
  • The company has not identified any alternate source of funding and hence any failure or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.
  • The company ability to pay any dividends will depend upon future earnings, financial condition, cash flows and working capital requirements.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on its business, results of operation or financial condition.
  • The company Promoters and promoter group members are co-borrowers in the loan facilities obtained by the Company, and any failure or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.
  • Excessive dependence on Yes Bank Limited and Deutsche Bank in respect of Loan facilities obtained by the Company.
  • The company is subject to certain restrictive covenants in debt facilities provided to it by its lenders.
  • The company has not received No Objection Certificate from all the lenders of term loans to the company.
  • The average cost of acquisition of Equity Shares by the Promoters is lower than the face value of Equity Share.
  • The company Promoters and the Promoter Group will jointly continue to retain majority shareholding in the Company after the issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
  • Its may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the Equity Shares or additional funds through incurring debt to satisfy the company capital needs, which its may not be able to procure and any future equity offerings by it.
  • The Issue price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue and the market price of the Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
  • QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
  • Leverage its manufacturing and engineering capabilities, to tap the industry opportunities.
  • Continue to reduce operating costs and improve operational efficiencies.
  • Increase its geographical reach and expand its customer base.
  • Continue to focus on R&D activities to develop and optimize niche and high value products.
  • Stable financial performance.
  • Expand its Manufacturing facility and Product Range.

Saakshi Medtech & Panels Ltd IPO Promoter Holding

Pre Issue Share Holding 95%
Post Issue Share Holding 69.95%

Saakshi Medtech & Panels Ltd IPO Subscription Status (Bidding Detail)

The Saakshi Medtech & Panels Ltd IPO is subscribed 60.9899 times on Sep 27, 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) - - - - 60.9899

Saakshi Medtech & Panels Ltd IPO Prospectus

Saakshi Medtech & Panels Ltd IPO Listing Date

Listing Date 03 Oct 23
BSE Script 91668
NSE Symbol SAAKSHI
Listing In NSE - SME
ISIN INE0PSK01027
IPO Price ₹97
Face Value ₹10

Saakshi Medtech & Panels Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 022 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Saakshi Medtech & Panels Ltd IPO Lead Manager(s)

  1. Hem Securities Ltd

FAQs on Saakshi Medtech & Panels Ltd IPO

Saakshi Medtech & Panels Ltd IPO, which opens for subscription from 25-Sep-2023 to 27-Sep-2023 has an issue size of ₹45.16 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 Saakshi Medtech & Panels Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Saakshi Medtech & Panels Ltd IPO Opens for subscription from 25-Sep-2023 to 27-Sep-2023.

The lot size of Saakshi Medtech & Panels Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹116400 and ₹116400 respectively.

Allotment date for Saakshi Medtech & Panels Ltd is 04-Oct-2023 and refund of application amount (in case allotment is not received) will begin from 05-Oct-2023. If your allotment goes through, then shares will be credited in your Demat account by 06-Oct-2023.

The registrar for Saakshi Medtech & Panels Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Saakshi Medtech & Panels Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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