The Initial Public Offerings(IPO) for the week are-
Viviana Power Tech Limited-
Viviana Power Tech Limited was incorporated in December 2014 and is engaged in the business of power transmission, distribution, and industrial EPC space projects. It provides a wide range of services such as power transmission, EHV substation, testing and commissioning of sub-station and transmission, power distribution network establishment, underground cable laying and upgradation, and modification of existing power system. It also undertakes turnkey jobs for supply, civil, erection, testing, and commissioning of electrical systems.
The company has interactions with state government power utilities, private power entities, and renewable energy developers. It bags project work from government utilities through an open bidding process and from private entities and renewable energy developers by open bidding in accordance with the company’s performance. The business operations of the company comprise two tasks i.e. supply and service for which it has to deploy manpower and resources. It owns adequate machinery but for the requirements of types of machinery, it has to avail services on hire basis. The company sets up office and store facilities as per the project requirement and deploys the project team and hires laborers on daily basis as per the site requirement.
The promoters of the company are Mr. Nikesh Kishorchandra Choksi, Mr. Richi Nikeshbhai Choksi, and Mrs. Priyanka Richi Choksi. The objectives of the issue are to meet the working capital requirements and general corporate purposes. Listing would enhance the brand image and corporate visibility of the company.
The company had revenues of Rs 20.06 crore with a net profit of 1.20 crore (Year ended March 31, 2020), revenues of Rs. 22.53 crores with a profit of Rs. 0.98 crores (Year ended March 31, 2021), and revenue of Rs.32.56 crores with a net profit of Rs. 2.90 crores (Year ended March 31, 2022).
Infurnia Holdings Limited-
Infurnia Holdings Limited is an architecture and interior design software company which was set up in 2014. The company owns and operates a cloud-based platform that allows professionals to design buildings, interiors, and modular kitchens. It provides a viable alternative to architects looking to work in a more collaborative environment based on how the design data is shared across stakeholders in a project.
Infurnia holdings’ vision is to create a platform where the persons involved in design can build and operate phases of a building lifecycle and communicate over the same digital design with each other; which could be from the architects designing the building to the engineers performing strength analysis, from the site contractors developing the project to the facilities managers operating it, from interior designers to end customers, from furniture retailers to modular furniture manufacturers and this would enhance productivity and bring digital accountability on the stakeholders’ action across disciplines through the life cycle of the project.
The promoters of the company are Mr. Nikhil Kumar and Mr. Lovepreet Mann. The objects of the issue are to invest in a wholly owned subsidiary of the company for expansion of business and general corporate purpose. Listing would enhance the brand image of the company.
The company had revenues of Rs 2.34 lakhs with a net loss of Rs 2.04 crore (Year ended March 31, 2020), revenues of Rs. 26.33 lakhs with a loss of Rs. 2.65 crores (Year ended March 31, 2021), and revenue of Rs. 13.60 lakhs with a net profit of Rs. 2.77 crores (Year ended March 31, 2022).
Mega Flex Plastics Limited-
Mega Flex Plastics Limited was incorporated in 2003 and is engaged in the manufacture of Leno bags which are used for packaging agricultural products like potatoes, onions garlic, coconuts, fruits, and vegetables. The company is also manufacturing woven fabric and sutli in addition to Leno bags. The main product of the company is Leno bags and is used in the storage of fruits and vegetables. It is also used in cold storage and warehouses for the storage of various products. The plant for the manufacture of PP Leno bags is situated at Howrah in West Bengal.
The company started the state-of-the-art manufacturing facility with a production capacity of 23.08 million bags per year by installing 27 Leno looms in 2007; the production capacity gradually increased and the factory has 60 looms ramping up the production capacity to 51.30 million bags per year. The various brands of the company include Lenoflex, Kisan, Kisan Regular, Goldflex, GoldFlex Lite, Tiger, Tiranga, and Hena. The company exports Leno bags to European countries and the quality is well accepted there.
The promoters of the company are M/s. Channel Plastics limited, Mr. Rakesh Sethia, Mr. Mohanlal Parakh, and Mr. Hukum Chand Bothra. The proceeds of the issue would be utilized to meet the working capital requirements and general corporate purposes. Listing would enhance the company’s brand image.
The company had revenues of Rs 31.49 crore with a net profit of 2.19 crore (Year ended March 31, 2020), revenues of Rs. 29.49 crores with a profit of Rs. 1.28 crore (Year ended March 31, 2021), and revenue of Rs. 46.46 crores with a net profit of Rs. 2.65 crores (Year ended March 31, 2022).
Shantidoot Infra Services-
Shantidoot Infra Services was incorporated in March 2019 and is a specialized provider of construction services to the education, healthcare, and hospitality sectors. It is headquartered in Patna and is operating in Bihar and Jharkhand and is visualizing on pan India expansion.
The company is mainly engaged in the construction of institutional buildings like schools, colleges, hospitals, offices, hotels, etc. Apart from undertaking new projects it also carries out project re-designing, re-modeling, and renovating institutions according to the needs of the clients. The projects are categorized into two segments namely the government sector and the private sector. The company has developed a project management approach to accommodate and manage the unique requirements of every project which are not only flexible but adhere to the standard national/international building norms.
The promoter of the company is Mr. Avijeet Kumar. The proceeds of the issue will be utilized for meeting the working capital requirement and general corporate purposes.
The company had revenues of Rs 2.19 crore with a net profit of 2.81 lakh (Year ended March 31, 2020), revenues of Rs. 4.15 crores with a profit of Rs. 8.53 lakh (Year ended March 31, 2021), and revenue of Rs. 7.62 crores with a net profit of Rs. 1.40 crore (Year ended March 31, 2022).
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Sabar Flex India Limited-
Sabar Flex India Limited is engaged in the business as manufacturers and dealers in products and articles of packaging, made from paper, pulp of all kinds, polyethylene, plastic films, metal foils, films of all kinds, flexible and laminated material, bags, pouches, sheets, rolls and all kinds of flexible packaging and manufacturing, fabricating, printing, treating, waxing and laminating all kinds of packaging materials.
It carries out its business as manufacturers, processors, designers, buyers, sellers, exporters, importers, and dealers in all kinds of packaging cases, drums, crates, cans and containers, wooden boxes, plastic components, polythene containers, bottles, hollow wares, etc. whether made of plastic or manmade fiber including high and low-density polyethylene, polypropylene, plastic, and other manmade material. The manufacturing unit is located in Dhandha, Himatnagar city of Gujarat, and is close to Rajasthan.
The promoter of the company is Mr. Hikmatbahadur Krishnabahadur Kunwar. The funds raised through the issue would be utilized for the working capital requirements of the company and general corporate purposes.
The company had revenues of Rs 36.17 crore with a net profit of 74.15 lakh (Year ended March 31, 2019), revenues of Rs. 63.64 crores with a profit of Rs. 89.80 lakh (Year ended March 31, 2020), and revenue of Rs. 73.97 crores with a net profit of Rs. 1.39 crore (Year ended March 31, 2021).
Ishan International Limited-
Ishan International Limited was incorporated in 1995 and is an ISO: 9001: 2015 certified company, GOI certified star export house, and a diversified heavy engineering company with experience in selling heavy engineering equipment in international markets. It is engaged in building projects that focus on supplying machines, erection/installation, commissioning, and operational training for sugar plants, jaggery plants, pharmaceutical plants, hydropower plants, and pollution control systems. It also provides high-end engineering services and solutions for all types of activities in Hydropower, sugar and jaggery, pharmaceutical, and pollution control systems.
The business of the company is mainly focused on international markets. It has overseas offices in Vietnam, the Philippines, Indonesia, and Kenya.
The promoter of the company is Mr. Shantanu Srivastava. The net proceeds of the issue would be utilized for funding the proposed joint venture/ acquisition, meeting the working capital requirement, and general corporate purpose.
The company had revenues of Rs 26.74 crore with a net profit of 39.62 lakh (Year ended March 31, 2019), revenues of Rs. 21.91 crores with a profit of Rs. 28.42 lakh (Year ended March 31, 2020), and revenue of Rs. 22.21 crores with a net profit of Rs. 15.05 lakh (Year ended March 31, 2021).
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