Chavda Infra Limited IPO Detail
Incorporated in 2012, Chavda Infra Limited provides construction and allied services across residential, commercial, and institutional projects in Gujarat.
Chavda Infra is a part of the Chavda group, which consists of 3 businesses, Chavda Infra, Chavda RMC, and Chavda Developers, providing services in Ahmedabad, Gandhinagar, and Rajkot. The company has delivered more than 100 completed projects worth ₹ 67,099.45 Lakhs in Residential Properties, Commercial Properties, Institutional Infrastructures, etc. The company provides services ranging from planning and design to construction and post-construction activities.
Chavda Infra has three business verticals: Contracting Services, Development Services, and Commercial Renting Services.
The company has constructed some of the well-known buildings in Ahmedabad namely Straft Laxuria, Shivalik Parkview, and Shivalik Sharda Harmony, being residential projects. AAA Corporate House, Sadbhav House, Solitaire Sky, Sandesh Press, Suyash Solitaire, and Solitaire Connect, being commercial projects. AIS Toddler's Den, Nirma University (old Building), and Zydus School & Excellence, being institutional projects. As of May 31, 2023, the company has 26 ongoing projects worth approximately ₹ 60,139 lakhs. Out of 26 ongoing projects 4 are commercial Projects, 4 are institutional projects and 18 are residential projects.
Chavda Infra is ISO 9001:2015 certified for quality management systems by BCQ Assessment Private Limited. The quality certification is for the construction of commercial, residential, and institutional buildings.
The company has more than 250 employees and recorded revenue from operations of Rs. 16,188.57 Lacs for the year ended on March 31, 2023.
Company Promoters
Mr. Mahesh Gunvantlal Chavda, Mrs. Dharmishtha Maheshkumar Chavda and Mr. Johil Maheshbhai Chavda are the promoters of the company.IPO Details
| IPO Opening Date | Sep 12, 2023 |
| IPO Closing Date | Sep 14, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹60 - 65 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹43.26 Cr |
| Fresh Issue | 6,656,000 shares (aggregating up to ₹43.26 Cr) |
| Offer for Sale | - |
| Retail Portion | 33.23% |
IPO Tentative Timetable
The Chavda Infra Limited IPO open date is Sep 12, 2023, and the close date is Sep 14, 2023. The issue may list on Sep 25, 2023.
| IPO Open Date | Sep 12, 2023 |
| IPO Close Date | Sep 14, 2023 |
| Basis of Allotment Date | Sep 20, 2023 |
| Initiation of Refunds | Sep 21, 2023 |
| Credit of Shares to Demat Account | Sep 22, 2023 |
| IPO Listing Date | Sep 25, 2023 |
IPO Lot Size
The Chavda Infra Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹130000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹130000 |
| Maximum | 1 | 2000 | ₹130000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 10880.79 | 10987.68 | 521.46 |
| 31-Mar-23 | 15424.40 | 16203.37 | 1204.62 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To Meet Working Capital Requirements,
- General corporate purposes, and
- To meet Public Issue Expenses.
Chavda Infra Limited IPO Registrar:
KFin Technologies Limited
Chavda Infra Limited IPO Lead Manager(s):
Beeline Capital Advisors Pvt Ltd
Company Contact Information:
Chavda Infra Limited
304 to 307, 406, 407 B Square I, Near Neptune House, IsconAmbali BRTS Road
Ahmedabad
Gujarat
