The Initial Public Offerings(IPO) for the week are –
Shashwat Furnishing Solutions Limited-
Shashwat furnishing solutions limited is engaged in processing semi-furnished furniture products into finished products through job work. The company specializes in making industrial furniture for restaurants and cafés, garden and outdoor furniture, vintage furniture, mirror frames, wall clocks, and other decorative and handicraft products.
The company has professionals dedicated to manufacturing an exclusive product range that has a nationwide market and the products are known for a good finish, unique designs, trendy colors, and high detailing. Shashwat furnishing solutions sources its products from reliable manufacturers in semi-finished condition processes the same and turns them into finished products. It also manufactures through job work for the third parties. The company makes sales to wholesalers, retailers, and customers through online platforms like Indiamart, trade India and exporter India.
Mr. Hitesh Karnawat is the promoter of the company. The objects of the issue are to raise working capital requirements and general corporate purposes. Listing would enhance the brand name and visibility of the company.
The company had revenues of Rs 123.46 lakhs (period ended 28 February 2022) with profit after tax of Rs. 16.10 lakhs.
Global Longlife Hospital and Research Limited-
Global Longlife hospital and research limited was incorporated with the vision to bring healthcare of international standard within the reach of individuals. Mr. Suresh Jani with a team of doctors incorporated the hospital which started operations in the year 2015-16. The present promoters took over the majority shareholding from the doctors and investors in 2017.
Global Longlife healthcare is a multispecialty tertiary hospital in Gujarat with 110 beds and is well equipped for medical and surgical specialties. The hospital provides a platform for doctors to treat their patients and any doctor having experience of more than 3 years can admit his patient to the hospital. The hospital has 11 full-time consultants and a team of more than 30 experienced doctors to serve the patients. The staff strength comprises 37 nursing staff and more than 50 paramedical, support staff, and pharmacists. The company has established an IT system both for clinical purposes and integrated systems and processes through the hospital management system.
The hospital provides the following services –
Medical- Cardiology, allergy and immunology, critical care, GI medicine, diabetes and endocrinology, oncology, nephrology, neurology, pulmonologist, infectious disease, anesthesiology, dermatology, pain management, and ophthalmology.
Surgical – CVTS, joint replacement, orthopedics, neurosurgery, ENT, plastic surgery, trauma center, urology, dental and laparoscopic surgery.
Diagnostic Services – Radiology, pathology, Eco, and TMT.
Other Services – Dialysis, endoscopy, pharmacy, ambulance, dietary, and physiotherapy.
The promoters of the company are Mr. Sureshkumar Jani and Mr. Dhruv Jani. The objects of the issue are to acquire land on a leasehold basis, repayment of loans, and for general corporate purposes.
The company had revenues of Rs 34.54 crore with a net profit of 2.68 crores (Year ended March 31, 2019), revenues of Rs. 33.54 crore with a loss of Rs. 1.06 crore (Year ended March 31, 2020) and revenue of Rs. 32.70 crore with a net profit of Rs. 1.81 crore (Year ended March 31, 2021).
Le Merite Exports-
Le Merite Exports is an ISO 9001:2015 certified company engaged in the manufacture and trading of textile products like cotton yarn, greige fabric, and finished fabric for domestic consumption and exports. It has a diversified product portfolio that can supply cotton yarn and double yarn that is used in various forms for various end uses. The company has been a recognized “Three Star Export House” and exports sustainable, eco-friendly organic yarn and fabric to international textile and garment manufacturers.
The company has 51% of the equity capital of Le Merite Laxmi spinning private limited that plans to diversify into the business of trading in polyester yarn, viscose yarn, synthetic fibers, staple fibers, worsted yarn, lycra yarn, and other varieties that are texturized, sized and twisted.
The promoters of the company are Mr. Abhishek Lath and Mr. Umashankar Lath. The objects of the issue are to meet the incremental working capital requirements and general corporate purpose.
The company had revenues of Rs 180 crore with a net profit of 1.12 crore (Year ended March 31, 2019), revenues of Rs. 216.6 crore with a loss of Rs. 3.14 crore (Year ended March 31, 2020) and revenue of Rs. 268.4 crore with a net profit of Rs. 7.05 crore (Year ended March 31, 2021).
Fone4 Communications (India) Limited-
Fone4 Communications (India) Limited has a wide range of offerings of electronic gadgets and accessories for smartphones, laptops, smart television of reputed brands like Apple, Samsung, Oppo, Vivo, Xiaomi, Nokia, Redmi, Techno, Karbonn, One Plus, Dell, Lenovo, Asus, HP, Acer, Avita, TCL, Sansui and LG. It has a technological platform www.fone4.in where customers can buy their products through e-commerce.
The company in order to boost the E-commerce sales in Kerala opened up a number of stores at different locations and presently has 25 showrooms spread across, Calicut, Cochin, Kottayam, Palakkad, Kollam, Malappuram, Trivandrum, and Thrissur. It has emerged as one of the trusted online platforms for electronic gadgets in the state of Kerala. Fone4 communications have plans to expand across the entire Southern India region having its own retail stores or a franchisee. The company has tied up with several reputable brands to showcase their products both at the retail outlet as well as on the e-commerce platform.
The promoters of the company are Mr. Sayyed Hamid and Mrs. Roudha Zerlina. The objects of the issue are to meet the working capital requirements of the company and general corporate purposes.
The company had revenues of Rs 152.42 crore with a net loss of Rs. 1.55 crore (Year ended March 31, 2019), revenues of Rs. 575.2 crore with a loss of Rs. 97.78 lakhs (Year ended March 31, 2020) and revenue of Rs. 638 crore with a net profit of Rs. 10 lakhs (Year ended March 31, 2021).