The Initial Public Offerings(IPOs) for the week are-
VEERKRUPA JEWELLERS LIMITED-
The business operations of the company began in 2001 with the opening of a showroom in Naroda, Ahmedabad, and over the years opening of a 2nd showroom in Narol, Ahmedabad. The showrooms of the company with an area of 1050 square feet offer a luxurious experience and the jewelry business includes the sale of jewelry made of gold, silver, studded, and other jewelry products that include diamond, platinum, and other precious and semi-precious stones.
Veerkrupa Jewellers limited sells a wide range of products for different occasions and special occasions like weddings, party wear, jewelry for personal milestones, festival jewelry, daily wear jewelry, kids’ jewelry, and men’s jewelry. The products include designer, traditional, modern, and combined designs of jewelry such as earrings, chains, bracelets, gold/silver bars, mangalsutra, pendant sets, chains, anklets, waist belts, and necklaces. Other than this the company also sells hand tools, pooja items, and decorative items in silver. The products are sold under the brand name “Veerkrupa.”
The promoters of the company are Mr.Chirag Arvind Shah and Mrs. Nehaben Chiragbhai Shah. The objects of the issue are to meet the working capital requirements and general corporate expenses. Listing would enhance the brand image of the company.
The company had revenues of Rs 1.62 crore with a net profit of 8.27 lakh (Year ended March 31, 2019), revenues of Rs. 10.94 crore with a profit of Rs. 0.71 lakh (Year ended March 31, 2020) and revenue of Rs. 4.62 crore with a net profit of Rs. 1.07 lakh (Year ended March 31, 2021).
Mangalam Worldwide Limited-
Mangalam worldwide limited was originally incorporated in 1995 and later the name of the company was changed to ‘Mangalam Worldwide limited’ in 2014. It is engaged in the manufacture of stainless steel (SS) billets and rolling of SS flat bars with a fully integrated infrastructure consisting of steel melting shops, rolling mills, and finishing machines at the plants located at Halol and Changodar, Gujarat. The company also manufactures stainless steel billets on a job-work basis. In order to cater to the demand of customers for SS round bars and SS bright bars, it manufactures the products on a job-work basis.
Mangalam worldwide limited holds ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certificates and manufactures a wide range of stainless steel of 200 series, 300 series, 400 series- grades in Austenitic, Ferritic, Martensitic, and special chemical composition grades, duplex and super duplex steel.
The plants of the company are located at Halol (Unit I) and Changodar(Unit II). Unit I is having an installed manufacturing capacity of 66000 M/T p.a. of stainless steel (SS) billets of 200 series, 300 series, and 400 series out of which 200 series SS billets are captively consumed in unit II. Unit II is having an installed capacity of 90,000 MT/p.a. of SS flat bars.
The promoters of the company are Mr. Vipin Prakash Mangal, Mr. Chanakaya Prakash Mangal and Mr. Chandragupt Prakash Mangal. The objects of the issue are to meet working capital requirements, and general corporate purpose and the listing would enhance the brand image of the company.
The company had revenues of Rs 301.9 crore with a net profit of 2.65 crores (Year ended March 31, 2021) and revenues of Rs. 523 crore with a profit of Rs. 12.30 crore (Year ended March 31, 2022).
B Right Real Estate Limited-
B Right real estate limited is an integrated construction and real estate development company that focuses on the construction and development of residential and commercial real estate projects in and around Mumbai. The company has opted for a business model where it invests in a subsidiary LLP and this LLP makes investment in various SPV (Special Purpose Vehicle) that has been incorporated for a specific project. Each project has its own SPV which is then closed on completion of the project. The business model is successful and helps the company keep a track of all materials, human resources, and other expenses.
The management has an experience of more than a decade in the real estate industry and has executed projects having an area of approximately 3.96 lac sq. ft at various locations in Mumbai. It focuses on developing projects on land held in stock in trade and by entering into a joint development agreement with parties for the development of projects.
The promoters of the company are i) Blow Sales LLP and ii) Cheerful Dealtrade LLP. The company intends to utilize the net proceeds from the issue to meet the working capital requirements and believes listing will enhance its brand image.
The company had revenues of Rs 2.44 crore with a net profit of 1.39 crore (Year ended March 31, 2019), revenues of Rs. 1.47 crore with a profit of Rs. 85 lakh (Year ended March 31, 2020) and revenue of Rs. 1.18 crore with a net profit of Rs. 58.37 lakh (Year ended March 31, 2021).
SKP bearing Industries Limited-
SKP bearing industries manufacture needle rollers, cylindrical rollers, pins, and steel balls and are one of the players in the list of finished roller manufacturers in India. Over the years they have developed expertise and upgraded the technology by adding automatic and imported machinery and equipment to the plant which has helped to boost its production capacity and the quality of its products.
The company supplies rolling elements across India to reputed manufacturers and OEMs in diverse industries like textile, automobile, etc. It also exports rolling elements to international customers in Brazil, Argentina, and UAE. It has also ventured into the power generation business by installing windmill in the year 2012-13 at Jamnagar in Gujarat with a capacity of 0.80 MW and is currently used for captive consumption. It also has solar plants and windmills situated in Madhya Pradesh and Maharashtra with a commissioned capacity of 0.63 MW, 1.5 MW, and 0.80 MW for the generation and sale of power and electricity to various customers.
The promoters of the issue are Mr. Shrinand Kamlakar Palshikar and Ms. Sangita Shrinand Palshikar. The net proceeds from the issue would be utilized for funding the working capital requirements and general corporate purposes.
The company had revenues of Rs 39.97 crore with a net profit of 9.92 crores (Year ended March 31, 2019), revenues of Rs. 31.89 crore with a profit of Rs. 8.12 crore (Year ended March 31, 2020) and revenue of Rs. 36.27 crore with a net profit of Rs. 7.45 crore (Year ended March 31, 2021).
Kesar India Limited-
Kesar India Limited undertakes real estate development and construction and is in the business of developing and constructing projects such as residential and commercial plotting, residential and commercial buildings, colonies, mills and factory buildings, workshop buildings, etc. It will be taking a development of land having a development potential of 21,24,654 sq. ft located at Nagpur.
The company is a flagship of the Kesar group that markets its projects under the brand name “Kesar Lands”. It primarily operates in Nagpur and the company is focused to build a brand in the real estate sector. The future operations of the company will cover all aspects of real estate development from identification and acquisition of land, planning, execution, and marketing of projects, and maintenance and management of completed developments.
The promoter of the company is Mr. Gopal Fatehchand Gupta. The proceeds from the issue would be utilized to finance development expenses of the upcoming projects and the acquisition of land or land development rights.
The company had revenues of Rs 18.54 lakh with a net profit of 0.73 lakh (Year ended March 31, 2019), revenues of Rs. 57.7 lakh with a profit of Rs. 3.73 lakh (Year ended March 31, 2020) and revenue of Rs. 1.19 crore with a net profit of Rs. 1.19 lakh (Year ended March 31, 2021).
Jayant Infratech Limited-
Jayant Infratech Limited was incorporated in the year 2003 and is engaged in the field of Railway Infrastructure development involving the design, drawing, supply, erection, and commissioning of 25KV, 50Hz single phase traction overhead equipment. The clients of the company include various zones in Indian railways like Eastern railway, Southeastern railway, South east central railway, Northern railway, East coast railway, North frontier railway, East central railway, Central organization for railway electrification, and the private sector. The work of the company is the electrification of new and existing railway tracks. The company is based in Chhattisgarh and can offer its services to coal miners. The coal mines in Chhattisgarh have to develop siding which is used to load and transport coal from mines to its customers. A siding is a low-speed track section distinct from a running line or main line or branch line. Sidings often have lighter rails meant for lower speed or less heavy traffic.
The promoter of the company is Mr. Nilesh Jobanputra. The proceeds from the issue would be utilized as a security deposit for renting office space, working capital requirements, and general corporate purposes. Listing on stock exchanges would enhance the brand image of the company.
The company had revenues of Rs 18.21 crore with a net profit of 69.8 lakh (Year ended March 31, 2019), revenues of Rs. 33.86 crore with a profit of Rs. 1.31 crore (Year ended March 31, 2020) and revenue of Rs. 35.18 crore with a net profit of Rs. 1.39 crore (Year ended March 31, 2021).