The Initial Public Offerings(IPO) for the week are –
Ethos Limited-
Ethos Limited is India’s largest luxury and premium watch retail player giving the customers a luxury retail experience through online and physical presence. It has a chain of 50 physical retail stores in 17 cities in India in the multi-store format including cities of New Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, Kolkata, Chandigarh, Ahmedabad, Jaipur, Lucknow, Gurgaon, Guwahati, Ludhiana, Nagpur, Pune, and Thane. The stores are categorized into 14 Ethos Summit stores and one Airport store(that houses bridge to luxury, luxury, and high luxury brands), 15 multi-brand outlets and 10 Ethos Boutiques( housing bridge to luxury and premium brands), 9 luxury segment mono-brand boutiques offering a single luxury watch brand and 1 CPO luxury watch lounge for pre-owned watches.
The company offers an Omnichannel experience to the customers through its website and social media platforms. It has the largest portfolio of premium and luxury watches in India enabling it to retail 50 premium and luxury watch brands like Omega, IWC Schaffhausen, Jaeger LeCoultre, Panerai, Bvlgari, H. Moser & Cie, Rado, Longines, Baume & Mercier, Oris SA, Corum, Tissot, Raymond Weil, Louis Moinet and Balomaim. Visitors can research on the website about the latest watch launches, and reviews and choose from 7000 premium, bridge to luxury, luxury, and high luxury watches across 50 brands.
The promoters of the company are KDDL limited, Mahen distribution limited, and Yashovardhan Saboo. The objects of the issue are repayment or pre-payment of borrowings availed by the company, funding working capital requirements, funding capital expenditure for establishing new stores, and renovation of existing stores.
The company had revenues of Rs 443.5 crore with a net profit of 9.88 crores (Year ended March 31, 2019), revenues of Rs. 457.8 crore with a loss of Rs. 1.33 crore (Year ended March 31, 2020) and revenue of Rs. 386.57 crore with a net profit of Rs. 5.78 crore (Year ended March 31, 2021).
eMudhra Limited-
eMudhra Limited is the largest licensed certifying authority in India with a market share of 37.9% in the digital signature certificate market space. It is engaged in the business of providing Digital Trust Services and Enterprise Solutions to individuals and organizations in various industries. The company issues a range of certificates that include individual/ organizational certificates, SSL/ TLS certificates, and device certificates. Under its Enterprise Solutions vertical it offers a differentiated portfolio of Digital Security and paperless transformation solutions complementing its digital trust services business, making it a one shop player in secure digital transformation that provides a wide spectrum of services and solutions, from issuing certificates as a certifying authority to offering identity, authentication and signing solutions.
eMudhra Limited has issued more than 50 million digital signature certificates since its inception and is used by subscribers who use digital signature certificates for filing income tax returns, filing with the Ministry of Corporate Affairs, tenders, foreign trade, banking, railways, and other spaces. It works with government and banking customers like public sector banks and state governments and is the only Indian company directly recognized by renowned browsers and document processing software companies like Microsoft, Mozilla, Apple, and Adobe allowing it to sell digital signatures to individuals/ organizations and issue SSL/TLS certificates for website authentication globally. The company has a network of 88,457 channel partners in India.
The promoters of the company are Mr. Venkatraman Srinivasan and Taarav Pte Limited. The objects of the issue are repayment or pre-payment in full or part of certain borrowings, funding working capital requirements, purchase of equipment and funding of other costs for data centers proposed to be set up in India and overseas locations, investment in eMudhra INC for business development, marketing and sales.
The company had revenues of Rs 101.5 crore with a net profit of 17.43 crores (Year ended March 31, 2019), revenues of Rs. 116.4 crore with a profit of Rs. 18.41 crore (Year ended March 31, 2020) and revenue of Rs. 131.5 crore with a net profit of Rs. 25.35 crore (Year ended March 31, 2021).
Rachana Infrastructure Limited-
Rachana Infrastructure Limited is a mid-sized private sector company engaged in the business of construction of road projects on a bill of quantities (BOQ) and EPC basis. Over a period of time, the company has developed expertise in the construction of buildings, road construction, irrigation, hydropower project, and mining. Some of its clients include the public works department of Madhya Pradesh, road and building work department of Gujarat, Madhya Pradesh road development corporation, power grid corporation of India, Gujarat mineral development corporation, road construction department of Jharkhand, ONGC petro-additions limited, Ahmedabad municipal corporation and Ahmedabad Urban development corporation.
The business verticals of the company are roads and highways, bridges, mining, irrigation, pipelines, buildings, hydropower projects, and rental income. The promoters of the company are Mr. Girishkumar Raval and Mrs. Bhaminiben Mehta. The objects of the issue are the repayment of secured loans, meeting long-term working capital requirements, and general corporate purposes.
The company had revenues of Rs 112 crore with a net profit of 4.66 crores (Year ended March 31, 2019), revenues of Rs. 154.37 crore with a profit of Rs. 5.97 crore (Year ended March 31, 2020) and revenue of Rs. 103.8 crore with a net profit of Rs. 4.55 crore (Year ended March 31, 2021).
Globesecure Technologies Limited–
Globesecure Technologies Limited is a digital transformation company with a focus on cyber security. It has executed several cyber security transformation projects, infrastructure, and digital transformation projects for institutions and provides similar services to its clients. The company has capabilities spanning the digital lifecycle of services ranging from consultation, architecture, and solution design implementation to providing managed services.
The company classifies its business into the following lines-
1) Cyber Security Technology-
The services include-
- Managed security services.
- Managed detection and response.
- Cloud security services.
- Cyber security solution.
- Data protection services.
- Endpoint security.
- Email security.
- Office 360 security.
2) Integrated Enterprise Solutioning-
The offerings of the company include-
- Cyber security solutions.
- Information audit services.
- Networking and data center requirements.
- SD-Wan deployment.
- Network operation tools to deliver network, server, and application monitoring services.
- Cloud services.
- Big data and analytics.
- Fraud and risk analytics.
- IT ops analytics.
- Web analytics.
3) Managed IT services-
- Managed network and infrastructure.
- Managed support services.
- Managed security.
- Managed cloud infrastructure.
- Managed software as a service (Saas).
The promoters of the company are Mr. Raghavan Rajkumar and Mr. Sarvanan Narayansamy. The objects of the issue are to part finance the working capital requirements and general corporate purposes.
The company had revenues of Rs 10.42 crore with a net profit of 61.74 lakh (Year ended March 31, 2019), revenues of Rs. 19.24 crore with a profit of Rs. 11.8 lakh (Year ended March 31, 2020) and revenue of Rs. 19.22 crore with a net profit of Rs. 1 crore (Year ended March 31, 2021).