The Initial Public Offerings(IPO) for the week are –
Uma Exports was initially engaged in the export of building materials to Bangladesh but diversified in to export of agricultural produce and commodities in the year 1997. Since then the company is engaged in exporting agricultural produce that includes rice, wheat, sugar, and spices. The export of spices includes dry red chilies, turmeric, coriander, cumin seeds, the food grain exports include rice, wheat, corn, sorghum, pulses; and agricultural feed like soybean meal and rice bran de-oiled cake.
The company imports lentils, fava beans, black urad dal, and tur dal in bulk quantities, and its major imports are from Canada, Australia, and Burma. It maintains stocks and distributes them to manufacturers and exporters in bulk quantities. Whenever there is an inconsistency in the price of any commodity the company has developed a strategy to switch over from the export of one commodity to another. In order to have an overseas presence, the company has acquired 100% shareholding in U.E.L. International FZE under the laws of the United Arab Emirates.
Uma Exports is promoted by Rakesh Khemka and Sumitra Devi Khemka. The net proceeds from the issue would be utilized to augment the working capital requirements and general corporate purposes. Listing would enhance the brand name and corporate image of the company.
The company had revenues of Rs 329 crore with a net profit of 2.88 crores (Year ended March 31, 2019), revenues of Rs. 810 crore with a net profit of Rs. 8.32 crore (Year ended March 31, 2020) and revenue of Rs. 752 crore with a net profit of Rs. 12.18 crore (Year ended March 31, 2021).
Krishna Defense and Allied Industries-
Krishna defense is engaged in the business of manufacturing defense application products, dairy equipment products, and kitchen equipment. It has a licensing agreement with Defense Research and Development Organization (DRDO) for obtaining the know-how that enables it to manufacture and supply defense application products for the Indian Armed Forces. It provides a wide array of high-performance products for naval applications such as shipbuilding, special steel alloy bricks used as ballast weight for critical applications, super alloy weld consumables like welding wire, flux and electrodes, food containers, and improved space heating devices.
The company started in 1997 with operations in dairy equipment manufacturing and over the years has developed a wide range of dairy equipment products such as stainless steel milk cans, milk cooling tanks, milking machines, cow brooming brush, and robotic milk collection units. In 2010 the company entered into the business of manufacturing kitchen equipment that includes manufacturing of bulk cooking equipment like rice cauldron, dal cauldron, braising pan, distribution vessels, rice chute, dal storage tank that are used by organizations that run midday meal programs cooking up to 1 lakh meals a day.
In 2020, the company entered the business of manufacturing and marketing homeland and security products where they plan to manufacture products like modular vehicle barrier, automatic tire killer, multi-purpose launcher and long-range LED searchlight used by Indian Armed Forces. It proposes to sell these products under the “Make in India” program.
The promoter of the company is Mr. Ankur Ashwin Shah. The objects of the issue are to meet the working capital requirements and general corporate purpose.
The company had revenues of Rs 58.37 crore with a net profit of 2.06 crore (Year ended March 31, 2019), revenues of Rs. 24.99 crore with a net profit of Rs. 74.6 lacs (Year ended March 31, 2020) and revenue of Rs. 35.02 crore with a net profit of Rs. 1.93 crore (Year ended March 31, 2021).
Veranda Learning Solutions Limited-
Veranda learning Solutions Limited is engaged in the business of offering learning solutions in online, offline, and hybrid formats to students, graduates, professional and corporate employees enrolled in the courses through competitive exams, professional courses, and short-term skilling courses. It provides the preparatory courses in a simple manner for students preparing for UPSC exams, state public service commission, staff selection commission, banking, insurance, railways and chartered accountancy. It also provides short-term skilling courses, long term courses to employees of corporates through B2B offerings.
The offline hybrid learning model of the company involves classroom teaching supported by online assessments. The offline blended model involves a mix of online content wherein the center delivers LMS study materials along with traditional classroom experience with mentoring from dedicated mentors in each classroom. The online tech learning model allows students to engage in individualized learning experiences without needing to be present in a physical classroom. It involves recorded videos and an online live instructor-led learning model. The company also focuses on delivering courses in regional languages to students of Tier 2 and Tier 3 cities and rural areas.
The promoters of the company are Mr. Kalpathi S. Aghoram, Mr. Kalpathi S. Ganesh, and Mr. Kalpathi S. Suresh. Proceeds from the issue would be utilized for the retirement of acquisition consideration of Edureka, pre-payment in full of certain borrowings, and other growth initiatives.
The company had revenues of Rs 2.54 crore with a net loss of Rs 8.2 crore (Year ended March 31, 2021.
Jeena Sikho Lifecare Limited-
Jeena Sikho Lifecare Private Limited is a healthcare company that has its headquarters in Zirakpur, Punjab. The motive of the company is to build a healthy India. The company is known for its ayurvedic branch ‘Shuddhi’ and ‘Shuddhi Clinics’ and is providing healthcare services for the last 10 years.
In 2020 the company opened its first ayurvedic Panchkarma hospital in India. The company is a world leader in Ayurveda with 250 herbal/ayurvedic products. It also conducts health checkup camps and yoga camps to make people aware of their health problems. The methodology of natural healing of mind, body, and soul by the ancient Vedic system is the essence of Shuddhi.
The founder of the company is Acharya Manish Ji and the objective of the company is to bring Ayurveda in line with the main healthcare system and develop faith in its efficacy globally. Manish Grover and Bhavna Grover are the promoters of the company. The objects of the issue are to meet repayment of short-term loans, the working capital requirements, and general corporate purpose.
The company had revenues of Rs 105.8 crore with a net profit of 5.99 crores (Year ended March 31, 2019), revenues of Rs. 94.41 crore with a net profit of Rs. 5.72 crore (Year ended March 31, 2020) and revenue of Rs. 135.8 crore with a net profit of Rs. 10.15 crore (Year ended March 31, 2021).