The upcoming initial public offerings(IPOs) are-
Pritika Engineering Components Limited-
Pritika Engineering Components Limited caters to the tractor industry in the automotive sector and has a major dependency on original equipment manufacturers. It supplies its products directly to OEM through its promoter company Pritika Auto Industries Limited and Group Company Pritika Industries Limited. The company is engaged in the business of manufacturing precision-machined components for the automotive industry mainly for tractors, trucks, and commercial vehicles.
The company manufactures tractors and automobile components like end covers, cover-sealed brakes, differential cases, cover hydraulic lift, cover trans case, front wheel hub, flywheel housing, rear axle casings, hydraulic lift covers, brake housing, and front engine supports. Pritika Engineering components has the vision to be the first choice among the original equipment manufacturers for machined castings and one of the largest producers of machined castings in India with a mission to produce 35,000 MT of machined castings by the year 2025.
The promoter of the company is M/s Pritika Auto Industries Limited and the persons in control of the promoters of the company are Mr. Harpreet Singh Nibber and Mr. Raminder Singh Nibber. The objects of the issue are to utilize the funds for investment in relation to the new unit set up by the wholly-owned subsidiary Meeta Castings Limited.
The company had revenues of Rs 21.72 crore with a profit of 13.75 lakhs (Year ended March 31, 2020), revenues of Rs. 32.44 crores with a profit of Rs. 38.18 lakhs (Year ended March 31, 2021), and revenue of Rs. 57.39 crores with a net profit of Rs. 5.46 crore (Year ended March 31, 2022).
Baheti Recycling Industries Limited-
Baheti Recycling Industries Limited was incorporated in 1994 and is an aluminum recycling company engaged in the processing of aluminum-based metal scrap to manufacture aluminum alloys in the form of ingots and aluminum de-ox alloys in the form of cubes, ingots, shots, and notch bars. The various properties of aluminum and its alloys result in it being used in various industries that include automobile, construction, electrical transmission, food packaging, etc.
Aluminum alloys are used in automobile components due to their stiffness, corrosion resistance, and good strength-to-weight ratio, and aluminum de-ox alloys are used as deoxidizers in steel manufacturing units. The key sectors that use aluminum in India are auto, power, aerospace, electronics, railways, defense construction, solar energy, and aluminum packaging.
Baheti Recycling Industries has a manufacturing unit located at Dehgam with a 12,000 MT installed capacity for processing aluminum scrap. The customers of the company include ArcelorMittal steel India, Tata steel, Minda corporation, Sigma electric, and Sunflag iron and steel company limited. The company markets its products to around 11 states and union territories and the majority of the revenue comes from the states of Gujarat, Maharashtra, Orissa, and Jharkhand. It sells its products to foreign buyers situated in Japan, Canada, the USA, China, Hong Kong, UAE, and Taiwan.
The promoter of the company is Mr. Shankerlal Bansilal Shah. The proceeds from the issue would be utilized for the modernization and expansion of the existing manufacturing units and to meet working capital requirements.
The company had revenues of Rs 105.95 crore with a profit of 19.19 lakhs (Year ended March 31, 2020), revenues of Rs. 127.8 crores with a profit of Rs. 47.78 lakhs (Year ended March 31, 2021), and revenue of Rs. 249.26 crores with a net profit of Rs. 2.91 crores (Year ended March 31, 2022).
Dharmaj Crop Guard Limited-
Dharmaj Crop Guard Limited is an agrochemical company engaged in the business of manufacturing, distributing, and marketing a wide range of agrochemical formulations like insecticides, fungicides, herbicides, plant growth regulators, micro fertilizers, and antibiotics to B2C and B2B customers. It is also engaged in the marketing and distribution of agrochemical products under brands licensed by the company to Indian farmers through its distribution network. The company exports its products to more than 25 countries in Latin America, East African countries, the Middle East, and Far East Asia. The agrochemical products are sold in the form of granules, powder, and liquid form to the customers. It also manufactures and sells general insect and pest control chemicals for Public health and animal protection.
The company has obtained 464 registrations for agrochemical formulations out of which 269 are for sale in India as well as exports and 195 agrochemical formulations are exclusively for exports. It has also applied for registrations of 18 formulations and 17 agrochemical technicals from the CIB&RC.
The promoters of the company are Mr. Rameshbhai Ravajibhai Talavia, Mr. Jamankumar Hansarajbhai Talavia, Mr. Jagdishbhai Ravjibhai Savaliya, and Mr. Vishal Domadia. The net proceeds from the issue would be utilized for funding the capital expenditure towards setting up a manufacturing facility at Saykha, Bharuch, repayment of certain borrowings, and general corporate purposes.
The company had revenues of Rs 199 crore with a profit of 1.07 crore (Year ended March 31, 2020), revenues of Rs. 303.5 crores with a profit of Rs. 2.09 crore (Year ended March 31, 2021), and revenue of Rs. 396.2 crores with a net profit of Rs. 2.87 crores (Year ended March 31, 2022).
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