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Nitiraj Engineers IPO
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Nitiraj Engineers is engaged in the manufacture and sale of wide range of Electronic Weighing Scales and Systems, Currency Counting Machines and Electronic Fare Meters. Its product portfolio range caters to both industrial and domestic consumption. Nitiraj Engineers is an ISO 9001:2008 certified company and produces more than 100,000 Scales per year and has more than one million customers. Its products are manufactured at the manufacturing unit located at Parwanoo, Himachal Pradesh. The company also has manufacturing facility at Silvassa, UT which is not under active use currently. The company supplies its products under the Phoenix brand.
Promoters of Nitiraj Engineers – Rajesh Raghunath Bhatwal
|
Nitiraj Engineers IPO details |
|
| Subscription Dates | 20 Feb – 1 Mar 2017 |
| IPO Price band | INR100 per share |
| Fresh issue | 2,200,800 shares (INR22 crore) |
| Offer for sale | Nil |
| Total IPO size | 2,200,800 shares (INR22 crore) |
| Minimum bid (lot size) | 1,200 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge (SME platform) |
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Nitiraj Engineers’ financial performance (in INR crore) |
|||||
| FY2012 | FY2013 | FY2014 | FY2015 | FY2016 | |
| Total revenue |
29.0 |
28.7 | 41.2 | 43.9 |
56.6 |
| Total expenses |
24.5 |
26.2 | 35.3 | 37.4 |
47.8 |
|
Profit after tax |
2.8 | 1.2 | 3.9 | 4.2 |
5.5 |
Â
| Day |
Subscription (no. of times) |
| Day 1 |
 0.37 |
| Day 2 |
 0.41 |
| Day 3 |
 0.47 |
| Day 4 |
 0.59 |
| Â Day 5 |
 0.65 |
| Â Day 6 |
 0.71 |
| Â Day 7 |
 1.36 |
Nitiraj Engineers Limited
City Survey No. 496 A/3, 4 Behind Gurudwara, Mumbai-Agra Road
Dhule 424 001
Phone:Â +91 2562Â 239 080
Email: [email protected]
Website: www.nitiraj.net
Bigshare Services Private LimitedÂ
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E),
Mumbai – 400 072
Phone: +91 22Â 4043 0200Â
Fax: +91 22Â 2847Â 5201
Email: [email protected]
Website: www.bigshareonline.com
Nitiraj Engineers IPO allotment status is now available on Bigshare Services Private Limited website. Click on this link to get allotment status.
IPO Opening Date: 20Â February 2017
IPO Closing Date: Â 1 March 2017
Listing Date: 9 March 2017
Listing Price on NSE SME: INR97 per share (discount of 3% on IPO price)
Closing Price on NSE SME:Â INR94.5 per share (discount of 5.5% on IPO price)
what is P/E
Nitiraj had EPS of 9.17 in 2016 so PE ratio is 10.9. But for profit of 5.5 crore, they have trade receivables from promoters of nearly 20 crore. In other words, this is interest free loan to promoters! Not looking good
Sir, trade receivables are not from the promoters. They are actual receivables of the business, so there is no question of any interest free loan to the promoters.
Seems 100 is too high for a small cap with the overall profit of 5.5 C , not very comfortable personally. Trad receivables really is not a point to consider as it is just 20 c. personal opinion
Nitiraj opened lower as I was expecting. sunk to 91 after listing at 97. sell now and get out if anyone got trapped