Shri Techtex IPO GMP, Review, Price & Allotment

Shri Techtex was founded in 2011 and is a manufacturer of Polypropylene (PP) Non-Woven Fabric. Nonwoven fabric is more environmentally friendly for specific applications, particularly in fields and industries where disposable or single-use products are required, such as organic farming, hospitals, health care, nursing homes, home furnishing, vehicle upholstery seat fabrication, Mattress & furniture covering, ecological packaging, industrial and consumer goods. It currently produces PP non-woven fabric up to 4.5 meters in length

converted to LLP on 2 February 2022). Since the demerger, the company has been involved in the production of Polypropylene (PP) Non-Woven Fabric. Shri Techtex’s production facility is located in Simaj of Dholka Taluka in Gujarat’s Ahmedabad District. The manufacturing plant is 41548 square metres and has a capacity of 3600 MT PP non-woven fabric per year.

The company intends to expand through this issue by introducing new products such as PP Tufted Fabric, often known as Artificial Grass, and PP Multifilament Yarns. Shri Techtex is in the process of importing specialised machinery for the production of the aforementioned new products, and both pieces of machinery are expected to be ready for commercial production by October 2023. The machinery will be installed with a capacity of 1200 tonnes per year for PP Multifilament and 30 lakh square metres per year for PP Tufted Fabric (Artificial Grass). The company’s client base comes from Gujarat, Tamil Nadu, and West Bengal as well as countries like the USA, Taiwan, Canada, Denmark, and China.

Shri Techtex IPO Details

Shri Techtex IPO Dates	26 – 28 July 2023
Shri Techtex Issue Price	INR 54 – 61 per share
Fresh issue	74,00,000 shares (INR 39.96 – 45.14 crore)
Offer For Sale	NIL
Total IPO size	74,00,000 shares (INR 39.96 – 45.14 crore)
Minimum bid (lot size)	2,000 shares (INR 1,22,000)
Face Value	INR 10 per share
Retail Allocation	35%
Listing On	NSE SME

Shri Techtex Financial Performance

	FY 2020	FY 2021	FY 2022	8M FY 2023
Revenue	16.08	39.47	51.18	35.21
Expenses	10.16	23.43	41.19	29.44
Net income	4.47	12.66	8.27	6.07

Shri Techtex Valuations & Margins

	FY 2020	FY 2021	FY 2022
EPS	2.55	7.21	4.71
PE ratio	–	–	11.46 – 12.95
RONW (%)	55.32	60.98	39.37
NAV	4.61	11.83	11.96
ROCE (%)	43.73	44.55	29.21
EBITDA (%)	47.92	45.79	23.96
Debt/Equity	0.60	0.72	1.17

Shri Techtex IPO Subscription – Live Updates

• Coming soon

Shri Techtex IPO Dates & Listing Performance

IPO Opening Date	26 July 2023
IPO Closing Date	28 July 2023
Finalization of Basis of Allotment	2 August 2023
Initiation of refunds	3 August 2023
Transfer of shares to demat accounts	4 August 2023
IPO Listing Date	7 August 2023
Opening Price on NSE SME	Coming soon
Closing Price on NSE SME	Coming soon

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