IPO Details
Bidding Dates
26 Jul 24 - 30 Jul 24
Price Range ₹
82 - 87
Total Equity
₹ 50.42Cr
Lot Size
1600
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
26 Jul 2024
Offer end
30 Jul 2024
Allotment
31 Jul 2024
Refund initiation
01 Aug 2024
Demat transfer
01 Aug 2024
Listing
02 Aug 2024
Offer start
26 Jul 2024
Offer end
30 Jul 2024
Allotment
31 Jul 2024
Refund initiation
01 Aug 2024
Demat transfer
01 Aug 2024
Listing
02 Aug 2024
About Company
Founded in 2016, Esprit Stones Limited specializes in manufacturing engineered quartz and marble surfaces. As of March 2024, Manufacturing Facility I is equipped with three pressing lines and two polishing lines, boasting a production capacity of approximately 72 lakh sq.ft. per annum. Additionally, Manufacturing Facility II has been commissioned to produce quartz grit and quartz powder, the primary raw materials for engineered quartz production. The company also manufactures unsaturated polyester resin at its third manufacturing facility. Esprit Stones Limited holds multiple certifications, including ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, NSF, and Green Guard. As of May 31, 2024, the company employed 295 individuals across various departments.
Year Founded
19-10-2016
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 0 |
| Share Capital | 16150000 | 0 |
Offer to Public
57,95,200.00 Cr
Project Details
- Investment in our Subsidiary, Haique Stones Private Limited (HSPL), for repayment - 200cr
- Investment in our Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working Capital - 65cr
- Funding Working Capital requirements of our Company - 140cr
Objectives
- Funding Working Capital requirement of our CompanyInvestment in our Subsidiary, Haique Stones Private Limited (HSPL), for repayment and / orprepayment in part or full of its outstanding borrowingsInvestment in our Subsidiary, Haique Stones Private Limited (HSPL) for funding its Working CapitalRequirementGeneral Corporate Purpose
Highlights
- The company is ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 certified, ensuring high standards in environmental management, occupational health and safety, and quality management.
- Holding NSF and Green Guard certifications demonstrates a commitment to product safety and environmental responsibility.
- By producing its own quartz grit, Esprit Stones reduces reliance on external suppliers and ensures better control over raw material quality.
- The Udaipur manufacturing facilities offer easy access to essential minerals, reducing transportation costs and enhancing logistical efficiency.
- Specializing in engineered quartz surfaces allows the company to concentrate its resources and expertise, ensuring high-quality products.
Challenges
- Reliance on the top five customers for over half of its revenue increases risk if any of these customers reduce or cease their business with Esprit Stones.
- Significant revenue from exports to the US makes the company vulnerable to changes in the economic or political relationship between India and the US.
- The company's substantial financial indebtedness of Rs 121.09 crore poses a risk if it fails to service or repay these borrowings.
- Involvement in various legal proceedings could result in unfavourable outcomes, potentially affecting the company's operations and reputation.
- The presence of significant contingent liabilities, which have varied over the past three years, could negatively impact the company's financial health if they materialize.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 23,802.24 | 950.00 | 355.72 | 343.32 | 2.1258 |
| 2021 | 14,114.67 | 950.00 | 1,850.61 | 1,850.61 | 11.4589 |
| 2022 | 18,069.74 | 950.00 | 355.72 | 343.32 | 2.1258 |
