Maruti Interior Products Limited IPO Detail
Maruti Interior Products Limited is engaged in manufacturing and domestic sale & export of modular kitchen storage system, aluminium long wardrobe handle & profile handle. The company has a wide range of product offerings for different customer segments. The brand Everyday Kitchen is focused on the economic range of products, while the other brand Spitze by Everyday offers premium products. Apart from the company's own branded products, it also manufactures products for big companies like Godrej, Hafele India, Kaff Appliances, Walmart, Homelane, Livespace, Spacewood, etc.
All products manufactured by MIPL are designed in-house and the company has marketing and distribution network across India. MPIL has an online presence selling direct to customers via online, e-commerce platforms like Amazon and Flipkart. With an eye on the direct customers, the company has also developed Do it yourself (DIY) products.
MIPL's factory is spread across approx. 1,00,000 sq. ft in Gujarat. The company has 300+ dealers and 25+ distributors PAN India. It also has distributors in Uganda. The company is also in process of tying up for oven wire shelf with one company in Austria.
Competitive Strengths:
- High quality and varied manufacturing capability
- Experienced & skilled marketing team
- Online marketing and sales of products
- Prestigious awards and recognition
- Ambitious expansion plans
- Experienced promoters and a well-trained employee base
Company Promoters
Mr. Paresh P. Lunagaria and Mr. Purushotam R. LunagariaIPO Details
| IPO Opening Date | Feb 03, 2022 |
| IPO Closing Date | Feb 08, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹55 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹11.00 Cr |
| Fresh Issue | ₹11.00 Cr |
| Offer for Sale | - |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.42x | 2.07x | 1.25x | |
| Day 2 | - | - | 0.64x | 4.68x | 2.66x | |
| Day 3 | - | - | 2.01x | 10.91x | 6.46x | |
| Day 4 | - | - | 107.03x | 39.81x | 73.42x |
IPO Tentative Timetable
The Maruti Interior Products Limited IPO open date is Feb 03, 2022, and the close date is Feb 08, 2022. The issue may list on Feb 16, 2022.
| IPO Open Date | Feb 03, 2022 |
| IPO Close Date | Feb 08, 2022 |
| Basis of Allotment Date | Feb 11, 2022 |
| Initiation of Refunds | Feb 14, 2022 |
| Credit of Shares to Demat Account | Feb 15, 2022 |
| IPO Listing Date | Feb 16, 2022 |
IPO Lot Size
The Maruti Interior Products Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹110000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹110000 |
| Maximum | 1 | 2000 | ₹110000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.51% |
Company Financials:
For the year/period ended (₹ in Millions)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-21 | 176.66 | 114.75 | 16.49 |
| 31-Mar-21 | 148.62 | 152.34 | 15.45 |
| 31-Mar-20 | 135.85 | 181.87 | 22.88 |
Objects of the Issue:
The IPO aims to utilize the net proceed for the following objectives;
- To set up fully automatic Nickel/ Chrome Plating Plant and Powder Coating Plant
- Working capital requirements
- General corporate purpose
Maruti Interior Products Limited IPO Registrar:
Bigshare Services Pvt Ltd
Maruti Interior Products Limited IPO Lead Manager(s):
ISK Advisors Pvt Ltd
Company Contact Information:
Maruti Interior Products Limited
Plot No. 13, , Jay Krishna Industrial Estate,
Veraval, Taluka Kotda Sangani Veraval,
Gujarat
