The list of Upcoming Initial Public Offerings(IPOs) for the week is given below-
IPO—-Quality RO Industries Limited-
Quality RO Industries Limited is engaged in the business of marketing and supplying components for water purifiers. The parts are designed so as to fit RO plants and systems of different types. The company is also engaged in supplying water treatment products. It procures polypropylene raw materials and manufactures softener equipment such as filter parts, premium filter cartridges, taps, membrane housing, and also does contract manufacturing for the water treatment industry.
The company manufactures spun filter cartridges with 100% high purity polypropylene filter media. Quality RO spun filter cartridges are used as pre-filter for reverse osmosis, pp spun filters for process and groundwater remediation, polyspun filter cartridges for chemical process, pharmaceutical, and other applications.
Quality RO Industries Limited is also a reseller of RO equipment and spares. It purchases these items from wholesalers and sells it to small-sized businesses. The company is also engaged in contractual logistics services to local infrastructure and manufacturing companies. The registered office and factory of the company are located in Village POR, Vadodara, Gujarat.
Mr. Vivek Dholiya is the promoter of the company. The proceeds from the issue would be used to meet the capital expenditure requirements, incremental working capital requirements, general corporate purpose and meet public issue expenses. Listing would also enhance the image and brand visibility of the company.
The revenue of the company for the period 30 September to 30 November 2021 was Rs.16.78 lakh and the net income Rs 1.47 lakh.
IPO—-Maruti Interior Products Limited-
Maruti Interior Products Limited is engaged in the manufacture and domestic sale and export of modular kitchen storage systems, aluminum long wardrobe handles, and profile handles. Its brand Everyday Kitchen manufactures for the economic range and the brand Spitze by Everyday offers premium products. Both the product ranges include vertical storage, corner storage, drawer pull-outs, inserts, slim tandem drawers, mid-way accessories, drawer organizers, portable storage products, wardrobe storage accessories cabinet handles, roller shutters, etc.
The company also manufactures products on an OEM basis and has a team of in-house designers. Other than its own brand products the company also manufactures products for big companies like Godrej, Hafele India, Kaff appliances, Walmart, Homelane, Livespace, Spacewood, etc. It has more than 300 dealers and 25+ distributors across India. In the next 5 years, the company plans to add 200 dealers and more than 15 distributors.
The promoters of the company are Mr. Purushotam Rudabhai Lunagaria and Mr. Paresh Purushotam Lunagaria. The objects of the issue are to raise funds for a fully automatic Nickel Chrome plating plant, powder coating plant and general corporate purpose.
The total revenue of the company was Rs. 11.7crores with a net profit of Rs 98.2 lakh(Year ended 31 March 2019), the revenue of Rs.18.11crore with a net profit of Rs. 2.28 crore(Year ended 31 March 2020) and revenue of Rs. 15.19 crore with a net profit of Rs. 1.54 crore(Year ended 31 March 2021).
IPO—-Vedant Fashions-
Vedant Fashions is the largest company in India in the men’s wedding and celebration wear segment. The brand ‘Manyavar’ is a category leader in branded Indian wedding and celebration wear market with a pan India presence. The company focuses on spreading India’s culture, traditions and heritage through its value for money brands.
The company is trying to further enhance its leadership position in the organized Indian wedding market and establish its dominance through its brands Twamev and Manthan and in the women’s Indian wedding and celebration wear market through its brand Mohey. The products are manufactured by artisans having expertise in the Indian wedding market supported by the company’s knowledge of the demands of Indian festivals and weddings.
The company has an asset-light model in respect to the plant, property, and equipment that enables it to achieve a high return on capital employed due to the nature of its sourcing and manufacturing operations with the majority of the sales being generated through its franchisee-owned EBOs. Due to this the company does not need to invest in developing manufacturing facilities or a distribution system and by using economies of scale is able to optimize several costs such as production and procurement costs, distribution costs, employee costs thereby enhancing profitability.
The promoters of the company are Mr. Ravi Modi and Mrs. Shilpi Modi. The objects of the IPO are to achieve the benefits of listing the equity shares on the stock exchanges to have good brand visibility and to carry out the offer for sale.
The total revenue of the company was Rs. 800.7 crores with a net profit of Rs 176.4 crore(Year ended 31 March 2019), the revenue of Rs.915.5 crore with a net profit of Rs. 236.6 crore(Year ended 31 March 2020) and revenue of Rs. 564.8 crore with a net profit of Rs. 132.9 crore(Year ended 31 March 2021).
Also, Read- Things to consider before investing in an Initial Public Offering(IPO).