Sealmatic India Limited IPO Detail
Incorporated in 2009, Sealmatic India Limited is engaged in the business of designing and manufacturing of mechanical seals and associated products. The Mechanical seals manufactured by the company are mainly used in pulp & paper, Oil & Gas, refinery, petrochemical, chemical, fertilizer, power, mining, aerospace, marine, pharmaceutical, and other industrial spaces.
Sealmatic manufactures customized seals in order to meet the requirements of the customers. The operations of the company are widely recognized not alone in India, but worldwide too. Currently, the company has a presence in over 45 countries including India. Some of the countries are the USA, Sweden, the UK, Germany, Italy, Japan, Norway, Switzerland, Denmark, Netherlands, Australia, France, and many more.
The manufacturing unit of Sealmatic India Limited is situated at Shanti Vidya Nagri Road, Mira Road (E), Thane. The land is spread across 3,855.86 Sq. Mtrs. The company is planning to set up another manufacturing facility to expand its operations. The second unit will be located in Khindipada Village Vasai East, Thane.
Sealmatic supplies its products to industry leaders from sectors like Pharma, Oil and Gas industry, and Power. The company stated that it has a retention rate of 100%. The customers of the company include fortune 500 companies.
The strengths of the company are:
- One of few Indian Company Approved/ Registered as vendors with National & International customers.
- Experienced Board of Directors & Senior Management team supported by Skilled & Qualified Workforce.
- Consistent financial performance with about 30% growth in Profit After Tax.
- Optimum utilization of existing installed capacity & firm plan for Expansion
Company Promoters
Mr. Mohamed Hanif Chaudhari, Mr. Umar A K Balwa and Mr. Rafiq H. Balwa are the Promoters of the Company.IPO Details
| IPO Opening Date | Feb 17, 2023 |
| IPO Closing Date | Feb 21, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹220 - 225 per equity share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | BSE SME |
| Issue Size | ₹56.24 Cr |
| Fresh Issue | 1,850,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | 649,600 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Portion | 42% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.37x | 0.87x | 0.43x |
| Day 2 | 1.31x | - | - | 3.00x | 3.57x | 2.25x |
| Day 3 | 8.71x | - | - | 39.14x | 12.06x | 13.50x |
IPO Tentative Timetable
The Sealmatic India Limited IPO open date is Feb 17, 2023, and the close date is Feb 21, 2023. The issue may list on Mar 01, 2023.
| IPO Open Date | Feb 17, 2023 |
| IPO Close Date | Feb 21, 2023 |
| Basis of Allotment Date | Feb 24, 2023 |
| Initiation of Refunds | Feb 27, 2023 |
| Credit of Shares to Demat Account | Feb 28, 2023 |
| IPO Listing Date | Mar 01, 2023 |
IPO Lot Size
The Sealmatic India Limited IPO market lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹135000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 600 | ₹135000 |
| Maximum | 1 | 600 | ₹135000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 72.38% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 2975.94 | 3548.18 | 649.76 |
| 31-Mar-22 | 3947.36 | 4276.80 | 841.46 |
| 30-Sep-22 | 5108.52 | 2582.12 | 543.45 |
Objects of the Issue:
The Objects of the Net Issue is to raise funds for:
- Purchase of Plant and Machinery
- Product Development
- Marketing and after Sales Support
- General Corporate Purpose
- Provisions and Contingency
- Working Capital Requirement
Sealmatic India Limited IPO Registrar:
KFin Technologies Limited
Sealmatic India Limited IPO Lead Manager(s):
ISK Advisors Pvt Ltd
Company Contact Information:
Sealmatic India Limited
4th Floor, Techniplex -I, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West)
Mumbai
Maharashtra
