Shigan Quantum Technologies Limited IPO Detail
Shigan Quantum Technologies is engaged in the business of designing, developing, manufacturing, and assembling Alternate Fuel Systems i.e. LNG, CNG, and Hydrogen Fuel Kit Systems. Since April 2020, the business has ventured into Fire Detection & Alarm systems.
It manufactures Alternate Fuel Systems for high duty & light-duty vehicles power generation equipment, industrial equipment, and off-highway applications. It exports CNG fuel systems to countries such as New Jersey, Sweden, Canada, Australia, and Italy.
Competitive strengths
- Highly experienced managerial team.
- Standard quality standards and assurance.
- Export to overseas countries i.e. Australia, Sweden, Canada, etc.
- A strong relationship with suppliers.
Company Promoters
Mr. Shishir Agrawal, Mr. Gagan Agrawal, Shigan Autotronics Private Limited, SA Shigan Trust and GA Shigan TrustIPO Details
| IPO Opening Date | Feb 28, 2022 |
| IPO Closing Date | Mar 03, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹50 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹22.70 Cr |
| Fresh Issue | ₹22.70 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.52x | 0.64x | 0.58x | |
| Day 2 | - | - | 3.18x | 1.98x | 2.58x | |
| Day 3 | - | - | 27.70x | 8.21x | 17.95x |
IPO Tentative Timetable
The Shigan Quantum Technologies Limited IPO open date is Feb 28, 2022, and the close date is Mar 03, 2022. The issue may list on Mar 11, 2022.
| IPO Open Date | Feb 28, 2022 |
| IPO Close Date | Mar 03, 2022 |
| Basis of Allotment Date | Mar 08, 2022 |
| Initiation of Refunds | Mar 09, 2022 |
| Credit of Shares to Demat Account | Mar 10, 2022 |
| IPO Listing Date | Mar 11, 2022 |
IPO Lot Size
The Shigan Quantum Technologies Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹150000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹150000 |
| Maximum | 1 | 3000 | ₹150000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.63% |
Company Financials:
For the year/period ended (₹ in Lakh)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 4,529.57 | 9,602.26 | 351.34 |
| 31-Mar-20 | 2,473.48 | 7,278.78 | 292.07 |
| 31-Mar-19 | 2,205.65 | 6,908.42 | 266.07 |
Objects of the Issue:
The net proceeds from the IPO will be utilized towards the following objectives;
- Meet working capital requirements.
- To finance machinery purchase.
- General corporate purposes.
- Meet offer expenditures.
Shigan Quantum Technologies Limited IPO Registrar:
KFin Technologies Limited
Shigan Quantum Technologies Limited IPO Lead Manager(s):
Finshore Management Services Limited
Company Contact Information:
Shigan Quantum Technologies Limited
Shyam Kunj, 183-A,
Sainik Farms,
Western Avenue, New Delhi-110062
