Saakshi Medtech and Panels Limited IPO Detail
Incorporated in 2001, Saakshi Medtech and Panels Private Limited is engaged in the designing, programing, and assembling of Electrical Control Panels and Cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems.
The company manufactures:
- Electrical Control Panels and Cabinets used in elevators, air compressors, the renewal energy industry, the oil & gas exploration industry, electrical vehicle charging stations, etc.;
- Medical X-ray systems used in the healthcare industry;
- Fabrication works for locomotives; and
- Wire harness division for electrical control panels and for supply to the air compressor industry.
Saakshi Medtech and Panels' has three manufacturing units in Pune, Maharashtra, with a total built-up area of approx. 9600 sq mtr.
The company has been awarded the Best Delivery Performance Award for 2010 - from Atlas Copco Ltd, Pune, Best EHS Award for 2013 from Atlas Copco Ltd, Pune, Awarded by Healthcare Innovation Centre (HIC) as the NPI Development Partner Award from Philips in 2015, Recognized as Productivity Partner in MMF Strategic Business Partnership Conclave 2021 by the GE Group, and Recognition certification of Zero Defect Zero Effect from MSME India.
The company recorded Rs. 8,723.00 Lacs in revenue from operations for the period ended December 31, 2022, Rs. 9,157.78 Lacs in fiscal 2022, and Rs. 5,977.39 in fiscal 2021.
Company Promoters
IPO Details
| IPO Opening Date | Sep 25, 2023 |
| IPO Closing Date | Sep 27, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹92 - 97 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹45.16 Cr |
| Fresh Issue | ₹45.16 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 2.00x | - | - | 1.28x | 2.51x | 2.10x |
| Day 2 | 2.01x | - | - | 4.99x | 12.72x | 8.00x |
| Day 3 | 37.35x | - | - | 200.78x | 75.88x | 91.64x |
IPO Tentative Timetable
The Saakshi Medtech and Panels Limited IPO open date is Sep 25, 2023, and the close date is Sep 27, 2023. The issue may list on Oct 06, 2023.
| IPO Open Date | Sep 25, 2023 |
| IPO Close Date | Sep 27, 2023 |
| Basis of Allotment Date | Oct 03, 2023 |
| Initiation of Refunds | Oct 04, 2023 |
| Credit of Shares to Demat Account | Oct 05, 2023 |
| IPO Listing Date | Oct 06, 2023 |
IPO Lot Size
The Saakshi Medtech and Panels Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹116400).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹116400 |
| Maximum | 1 | 1200 | ₹116400 |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 5571.02 | 6022.17 | 210.49 |
| 31-Mar-22 | 6491.66 | 9169.35 | 932.21 |
| 31-Dec-22 | 8990.82 | 8990.82 | 820.76 |
Objects of the Issue:
The Net Proceeds are proposed to be used in accordance with the details as set forth below:
- Funding capital expenditure towards civil construction work in the existing premises of factory unit II.
- Repayment in full or in part, of certain of the company's outstanding borrowings.
- Funding Capital Expenditure towards the installation of additional plant and machinery.
- Funding to meet working capital requirements.
- General Corporate Purpose.
Saakshi Medtech and Panels Limited IPO Registrar:
Bigshare Services Pvt Ltd
Saakshi Medtech and Panels Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Saakshi Medtech and Panels Limited
Plot No. EL-23, J Block,
MIDC Industrial Area,
MIDC Industrial Area,
