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- Sheetal Universal Ltd
Sheetal Universal Ltd IPO
The Company was incorporated with the object of Sourcing, processing and supply in agriculture commodities like peanut, sesame seeds, spice and grains to cater the manufacturer of peanut butter, biscuits, cakes, chocolate and food products. The owned manufacturing & processing unit situated at Jamnagar, Gujarat, is accredited with ISO 22000:2018, HALAL certifications for processing of groundnut, groundnut kernals, sesame seeds and whole & ground spices. Sheetal Universal are also the member of Agricultural & Processed Food Products Export Development Authority and Indian Oil Seeds& Produce Export Promotion Council.
The subsidiaries, Saumesvar International Private Limited and Svar Industries Private Limited are processor, exporter of Agri Commodities like oil seed, grains etc. The Company started building its own processing line to process peanut processing in FY 2017, including cleaning of in shell peanut, destoning, decodication, air lock cleaning, gravity separator, color sorting and grading. In 2018, it started processing of sesame seeds and spices and added high tech machinery for cleaning, destoning, gravity separator, colour sorting.
The Company is planning to set up manufacturing facility for making defatted protein power and extract cold press oil for domestic market and export market. Apart from this, it is also planning to set up manufacturing unit for defatted protein powder from raw peanut, almond, cashew nut and seeds considered as vegan foods.
The Company is proposing Public Issue of 3400000 Fresh Issue Equity Shares.
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Sheetal Universal Ltd IPO Timeline
Sheetal Universal Ltd IPO opens on 04-Dec-2023, and closes on 06-Dec-2023. The Sheetal Universal Ltd IPO bid date is from 04-Dec-2023 to 06-Dec-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Sheetal Universal Ltd IPO Opening Date | 04-Dec-2023 |
| Sheetal Universal Ltd IPO Closing Date | 06-Dec-2023 |
| Basis of Allotment | 07-Dec-2023 |
| Initiation of Refunds | 08-Dec-2023 |
| Credit of Shares to Demat | 08-Dec-2023 |
| Sheetal Universal Ltd IPO Listing Date | 11-Dec-2023 |
Sheetal Universal Ltd IPO Lot Size
Sheetal Universal Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 140000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹140000 |
| Maximum | 1 | 2000 | ₹140000 |
Sheetal Universal Ltd IPO Details
| Sheetal Universal Ltd IPO Date | 04-Dec-2023 to 06-Dec-2023 |
| Sheetal Universal Ltd IPO Face Value | Shares of ₹10 per share |
| Sheetal Universal Ltd IPO Price | ₹70 per share |
| Sheetal Universal Ltd IPO Lot Size | 2000 |
| Issue Size | Shares of ₹10 (aggregating up to ₹23.8 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹23.8 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Hiren Vallabhbhai Patel, Kajal Hiren Patel. |
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
- 2 Working capital Requirement
- 3 General corporate purposes
Company Financials
Sheetal Universal Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 51.10 | 132.47 | 2.06 |
| 03-2023 | 26.56 | 131.07 | 2.06 |
| 03-2022 | 16.02 | 38.44 | 0.26 |
| Amount in ₹ Crore | |||
- Advantage of Geographic Location.
- Quality Assurance.
- Experienced Promoters and Management Team.
- Diversified customer base and long-standing relationship with its customers.
- Timely Delivery of Products.
- Well-defined organizational structure.
- Scalable Business Model.
- Its products are in the nature of commodities and their prices are subject to fluctuations that may affect its profitability.
- The company's operations are dependent on the supply of large amounts of raw materials, such as Oil seed, Spices and Grains. Unfavorable local weather patterns may have an adverse effect on the availability of raw materials.
- Its inability to anticipate, respond to and meet the tastes, preferences or consistent quality requirements of its consumers or the company inability to accurately predict and successfully adapt to changes in market demand or consumer preference could reduce demand for its products and in turn, impact the company sales.
- Fluctuation in the exchange rate between the Indian rupee and foreign currencies may have an adverse effect on the company business.
- Its inability to accurately forecast demand or price for its products and manage the company inventory may have an adverse effect on its business, results of operations and financial condition.
- The company derives a significant portion of its revenue from the company oil seeds business segment and any reduction in the production of such products could have an adverse effect on its business, results of operations and financial condition.
- The improper handling, processing or storage of raw materials or products, or spoilage of and damage to such raw materials and products, or any real or perceived contamination in the company products, could subject it to damage the company reputation and have an adverse effect on its business, results of operations and financial condition.
- The company requires certain approvals, licenses, registrations and permits to operate its business, and failure to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate the company business may adversely affect its operations and financial conditions.
- The company Consolidated Restated Financial Statements are prepared and signed by the Peer Review Auditor who is not Statutory Auditors of the Company as required under the provisions of ICDR.
- The Company is yet to place orders for the machinery for the expansion of the Manufacturing Facility. 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 is dependent on few numbers of customers for sales. Loss of any of these large customers may affect its revenues and profitability.
- The Company is dependent on few numbers of suppliers. Loss of any of this large supplier may affect its cost of raw material and profitability.
- There may be potential conflicts of interest if the company Promoters, Promoters' Group entities who are involved in same business activities that compete with or are in the same line of activity as its business operations.
- A slowdown or shutdown in the company manufacturing operations or under-utilization of its manufacturing facilities could have an adverse effect on the company business, results of operations and financial condition.
- Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company depends almost entirely on third-party suppliers in respect of availability of its raw materials. An interruption in the supply of such products and price volatility could adversely affect the company business, results of operations and financial condition.
- The company generate a major portion of sales from its operations in certain geographical regions especially Exports outside India. Any adverse developments affecting the company operations in these regions could have an adverse impact on its revenue and results of operations.
- The company is involved in certain legal proceedings which are pending at different levels of adjudication before various courts, tribunals, enquiry officers, and appellate authorities.
- The company manufacturing activities are dependent upon availability of skilled and unskilled labour.
- A shortage or non-availability of electricity or water may adversely affect the company manufacturing operations and have an adverse effect on its business, results of operations and financial condition.
- The company face competition in its business from domestic as well as global competitors. Such competition would have an adverse impact on the company business and financial performance.
- Any change in the technology may render the company current technologies obsolete or require it to make substantial capital investment to cope with the market.
- The Company requires significant amount of working capital for a continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.
- The Company had a negative cash flow in its operating activities in the past years, details of which are given below. Sustained negative cash flow could impact the company growth and business.
- The company promoters will continue to retain significant control over the Company after the Public Issue.
- Under-utilization of the company manufacturing capacities could have an adverse effect on its business and results of operations.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company financing arrangements.
- Its plants and offices are situated on properties taken on lease. Its cannot assure that such leases will be renewed in the future with favourable terms.
- Any damages caused by fraud or other misconduct by the company employees could adversely affect its business, results of operations and financial condition.
- The company sell its products in highly competitive markets and the company inability to compete effectively, market its products relative to the competitors may lead to lower market share, and adversely affect the company operations and profitability.
- Some of the company Subsidiaries have incurred losses in the preceding fiscals. Its cannot assure you that these companies will not incur losses in the future, or that there will not be an adverse effect on the company reputation or business as a result of such losses.
- The company Promoters, Directors and Group Companies may have interest in the Company other than normal remuneration or benefits and reimbursement of expenses incurred.
- Its inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the company operations and profitability.
- 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 lenders have charge over its movable and immovable properties in respect of finance availed by it.
- There is no monitoring agency appointed by The Company and the deployment of funds are at the discretion of its Management and the Board of Directors, though it shall be monitored by the company Audit Committee.
- The company Promoters, members of Promoter Group and director have mortgaged their properties and provided 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.
- 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 the company revenues and results of operations.
- Certain information contained in this Draft Prospectus is based on management estimates and the company cannot assure you of the completeness or accuracy of the data.
- The requirements of being a public listed company may strain the company resources and impose additional requirements.
- The company has made non-compliances of certain provision under Companies Act, 2013.
- Business Expansion.
- Augment capital base for adequate working capital.
- Customer Satisfaction.
- Continue to strive for cost efficiency.
- Reduction of operational costs and achieving efficiency.
- To increase brand visibility.
- Maintaining edge over competitors.
Sheetal Universal Ltd IPO Promoter Holding
| Pre Issue Share Holding | 85.16% |
| Post Issue Share Holding | 59.89% |
Sheetal Universal Ltd IPO Subscription Status (Bidding Detail)
The Sheetal Universal Ltd IPO is subscribed 162.5341 times on Dec 06, 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) | - | - | - | - | 162.5341 |
Sheetal Universal Ltd IPO Prospectus
Sheetal Universal Ltd IPO Listing Date
| Listing Date | 11 Dec 23 |
| BSE Script | 91905 |
| NSE Symbol | SHEETAL |
| Listing In | NSE - SME |
| ISIN | INE04VX01019 |
| IPO Price | ₹70 |
| Face Value | ₹10 |
Sheetal Universal Ltd IPO Registrar
Bigshare Services Pvt Ltd
Phone: 022-62638200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Sheetal Universal Ltd IPO Lead Manager(s)
- Beeline Capital Advisors Pvt Ltd
FAQs on Sheetal Universal Ltd IPO
Sheetal Universal Ltd IPO, which opens for subscription from 04-Dec-2023 to 06-Dec-2023 has an issue size of ₹23.8 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 Sheetal Universal Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Sheetal Universal Ltd IPO Opens for subscription from 04-Dec-2023 to 06-Dec-2023.
The lot size of Sheetal Universal Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹140000 and ₹140000 respectively.
Allotment date for Sheetal Universal Ltd is 07-Dec-2023 and refund of application amount (in case allotment is not received) will begin from 08-Dec-2023. If your allotment goes through, then shares will be credited in your Demat account by 08-Dec-2023.
The registrar for Sheetal Universal Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.
The shares of Sheetal Universal Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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