The Initial Public Offering(IPO) for the week is-
Naturo Indiabulls Limited-
Naturo Indiabulls Limited was incorporated in 2016 and is currently in the business of Fast Moving Consumer Goods (FMCG). At the time of incorporation, the objective of the company was to carry out the business of software designing, developing, testing, and dealing in computer software and solutions, to provide and deal in systems and application software for microprocessor-based information systems.
In the year 2019, the company changed its object clause to carry on the business of garments, textiles, jewelry, FMCG, real estate, stone mines, herbal products, automobiles, printing, share trading, providing education, agriculture seeds, and fertilizers, hospitality and food items directly or through the network of members, consultants, commission agents, franchises and distributors of multi-level marketing. FMCG industry is one of the industries that offer long-term sustainable business opportunities.
Natural Indiabulls Limited is in the business of trading various health products like sanitary towels, sanitary napkins, and health kits. The company is diversifying its products to various health and herbal products like juices, shampoos, medicines, and tablets under the name of Naturo Indiabulls limited. It purchases the goods from various manufacturers and sells them under its own brand to wholesalers and agents.
The promoters of the company are Mr. Gaurav Jain and Ms. Jyoti Chaudhary. The objects of the issue are to meet the working capital requirements and general purposes. Listing would enhance the brand image of the company and would make future financing easier.
The company had revenues of Rs 7.61 crore with a net profit of 78.8 lakhs (Year ended March 31, 2020), revenues of Rs. 7.0 crore with a profit of Rs. 74.57 lakhs (Year ended March 31, 2021), and revenue of Rs. 11.27 crore with a net profit of Rs. 1.09 crore (Year ended March 31, 2022).
Rhetan TMT Limited-
Rhetan TMT Limited is a Gujarat-based diversified business group and has an interest in various sectors that include oil and gas, steel, infrastructure electronic equipment, and chemical products. It owns and operates a steel rolling mill with an aggregate installed capacity of 30,000 MTPA. The company is IS 1786:2008 certified and manufactures TMT bars and round bars that are used primarily in the construction industry. Its products are utilized in the construction of dams, bridges, residential and commercial towers, and major infrastructure projects in Gujarat. The company is located in the Mehsana district of Gujarat.
Rhetan TMT Limited has further decided to expand capacities and proposes to expand the installed capacity at its plant to 45,000 MTPA. The company has a prominent market in Ahmedabad and nearby markets but wishes to further expand its network to nearby territories where there are lower transportation costs.
The promoter of the company is Mr. Shalin Shah and the object of the issue is to fund the expansion and modernization of the plant. Listing on the stock exchange would enhance the brand image of the company.
Rhetan TMT limited had revenues of Rs 20 crore with a net loss of Rs 58 lakhs (Year ended March 31, 2020), revenues of Rs. 52.08 crores with a profit of Rs. 13.44 lakhs (Year ended March 31, 2021), and revenue of Rs. 67.02 crores with a net profit of Rs. 2.34 crore (Year ended March 31, 2022).
JFL Life Sciences Limited-
JFL life science was incorporated in 2010 and is headquartered in Ahmedabad, Gujarat. The company is engaged in the business of manufacturing pharmaceutical products. It has a pan India presence and the products of JFL are supplied to 10 developed and developing countries around the world. It is a manufacturing company and its strategy is to sell the products in bulk to pharmaceutical marketers and traders and it does not sell under any brand name.
JFL life sciences currently export its products to African countries, Middle Eastern countries, and CIS countries through merchant exporters. The company is registered with MOH of Kenya, Cambodia, Myanmar, and Nigeria for manufacturing a particular product. Some of the company’s products are also registered with Ukraine, Uzbekistan, and Kazakhstan through merchants.
The major products of the company are-
- Dry powder injections.
- Tablets and capsules (General).
- Tablets and capsules (B-Lactam) solid oral dosage form.
- Oral rehydration solutions.
The promoters of the company are Smiral Ashwinkumar Patel and Tejal Smiral Patel. The company will utilize the funds being raised through the issue for repayment of secured and unsecured loans and funding the working capital requirements.
Rhetan TMT limited had revenues of Rs 31.77 crore with a net profit of Rs 30.25 lakhs (Year ended March 31, 2019), revenues of Rs. 30.17 crores with a profit of Rs. 36.04 lakhs (Year ended March 31, 2020), and revenue of Rs. 32.77 crores with a net profit of Rs. 54.21 lakhs (Year ended March 31, 2021).