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Sheetal Universal Limited IPO Detail

Sheetal Universal Limited IPO Detail

Incorporated in 2015, Sheetal Universal Limited is engaged in the business of sourcing, processing, and supplying agricultural commodities like peanuts, sesame seeds, spice, and grains to cater to the manufacturers of peanut butter, biscuits, cakes, chocolate, and food products.

The product range of the company comprises spices, peanuts, sesame seeds and pulses, and other agro-products.

Sheetal Universal owns a manufacturing & processing unit situated in Jamnagar, Gujrat, spread across a total land area of approximately 14,668 sq mts. The manufacturing unit is certified with FSSAI-2006 by the Government of India. The company is a member of the Agricultural & Processed Food Products Export Development Authority and the Indian Oil Seeds & Produce Export Promotion Council.

The company owns two subsidiaries Saumesvar International Private Limited and Svar Industries Private Limited. The subsidiaries process and export agri-commodities like oil seed, grains, etc.

The company's clientele includes customers from the Russian Federation, Indonesia, Malaysia, Vietnam, UAE, Iran, Algeria, Israel, Turkey, and Egypt.

Sheetal Universal recorded a total revenue from operations of Rs. 12,881.22 Lacs, Rs. 3,868.77 Lacs, and Rs. 3,763.64 Lacs in fiscal 2023, 2022, and 2021 respectively.

The competitive strength of the company lies in the following:-

  • Advantageous geographical location
  • Experienced Promoters and Management Team
  • Diversified customer base and long-standing relationship with our customers
  • On-time delivery of products
  • Scalable Business Model

Company Promoters

Mr. Hiren Vallabhbhai Patel and Mrs. Kajal Hiren Patel

Expected Gray Market Premium(GMP):

GMP Kostak Subject
₹13 (19%) - -

IPO Details

IPO Opening DateDec 04, 2023
IPO Closing DateDec 06, 2023
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹70 per equity share
Market Lot2000 Shares
Min Order Quantity2000 Shares
Listing AtNSE SME
Issue Size₹23.80 Cr
Fresh Issue₹23.80 Cr
Offer for Sale-
Retail Portion 50%

IPO Subscription (Bidding Detail)

Day 1 3.56x 4.72x - 4.65x
Day 2 14.04x 22.77x - 20.42x
Day 3 212.55x 129.73x - 179.20x

IPO Tentative Timetable

The Sheetal Universal Limited IPO open date is Dec 04, 2023, and the close date is Dec 06, 2023. The issue may list on Dec 11, 2023.

IPO Open DateDec 04, 2023
IPO Close DateDec 06, 2023
Basis of Allotment DateDec 07, 2023
Initiation of RefundsDec 08, 2023
Credit of Shares to Demat AccountDec 08, 2023
IPO Listing DateDec 11, 2023

IPO Lot Size

The Sheetal Universal Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140000).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding95%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 1272.15 3883.53 25.41
31-Mar-22 1602.82 3983.67 28.31
31-Mar-23 2804.02 13165.68 198.85

Objects of the Issue:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

1. Funding capital expenditure

2. Working Capital Requirement

3. General Corporate Purpose

4. To meet Public Issue Expenses

Sheetal Universal Limited IPO Registrar:

Bigshare Services Pvt Ltd

Sheetal Universal Limited IPO Lead Manager(s):

Beeline Capital Advisors Pvt Ltd

Company Contact Information:

Sheetal Universal Limited

Office No. 348

2nd Floor, ISCON Mall,

150 Feet Ring Road, Rajkot - 360005